Techm Shares News Today

Maruti Suzuki India, HCL Technologies, Bajaj Finserv, SBI Life Insurance Company and Shriram Finance would be announcing their quarterly earnings later today.

Q4 results: While Tech Mahindra and Vedanta are seen reporting weak set of numbers, Nestle India and Bajaj Finance may report strong results.

Two steelmakers Tata Steel and JSW Steel, IT major TechM, telecom operator Bharti Airtel Ltd and oil marketing company BPCL are seen reporting 10-60 per cent drop in YoY profit.

Tata Consultancy Services (TCS) shares have rallied 10.20 per cent during this period. The second largest player Infosys has risen 4 per cent; HCL Technologies and Wipro, the next in line, have gained 8-11 per cent.

TCS, Infosys: The consensus 12-month forward earnings growth estimate for the two IT firms is currently at 11 per cent on expectations of large-deal led growth acceleration.

Cognizant's results and commentary were weaker than most large-cap Indian IT Services companies, which have started talking about bottoming out (TCS) and green-shoots (Wipro).

Revenue in dollar terms came in at $1,573 million, up 1.1 per cent sequentially (down 5.7 per cent) YoY. In the constant currency terms,. revenue was up 1.1 per cent QoQ but down 5.4 per cent YoY.

On the daily charts of Tech Mahindra, we are observing a strong positive price action with high volume. Further, momentum indicator viz. RSI is positively poised.

TCS, Infosys shares: Just like its larger peer TCS, Infosys indicated a status quo on demand conditions and did not indicate a material upturn in 4QFY24.

The BSE IT index has dropped 3 per cent in the last five days against a 1 per cent drop for the Sensex, with Infosys Ltd (down 4 per cent), Wipro Ltd (down 3.49 per cent), TCS (3.17 per cent), Tech Mahindra Ltd (down 2 per cent), HCL Technologies Ltd (down 2 per cent).