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"There is an apprehension that sales may be impacted with slower recovery in rural areas than expected," said Nirvi Ashar, fundamental research analyst at Religare Broking. The company is scheduled to announce its first-quarter results on August 4.
While India Inc.’s Q4FY23 results were mixed to muted, the global macroeconomic environment is weighing on some export-oriented sectors
Disappointing growth by IT companies drags down corporate performance in the fourth quarter while consumer and auto sectors maintain sustained momentum, shows a Moneycontrol analysis of results announced by 180 companies so far.
Shares of Infosys and TCS have cracked 22.2 per cent and 11.30 per cent in the last 12 months till April 18, 2023. On the other hand, the BSE Sensex gained 4.5 per cent during the same period. Other large-cap IT majors including Wipro, HCL Technologies and Tech Mahindra have also declined 32 per cent, 4 per cent and 24 per cent, respectively, since April last year.
Most analysts don't see major announcements in the space, however, they expect some PLI-like incentives, some relief in GST (especially for electric vehicles), and further smoothening in the manufacturing process.