UPCOMING STOCK RESULTS CAN GIVE MARKET A BOOST

TCS  announced its results on Monday & many other IT firms like Wipro, Infosys and Mindtree will be announcing their results in the coming few days. So, it will interesting to see how these IT companies fair and the impact of the COVID-19 pandemic on them. Thus, keep a close watch on these stocks.
WIPRO- The results of this IT firm will be announced on April 15. But in the last quarter, the IT major had reported 20 % rise in consolidated net profit to Rs 2968 crore. It reported a 3% increase in revenue to Rs 15670 crore in the third quarter of FY21 compared to the same quarter last year. Thus there are expectation this quarter as well. Meanwhile, Wipro share was down to Rs 429.80 per share.

INFOSYS: Infosys is scheduled to announce its fourth-quarter results later today. The company will also consider a final dividend for FY21 along with a proposed share buyback. We expect IT companies to post robust revenue growth. Infosys share price surged 8.5% in Jan-Mar 2021, and 11% so far this year . During the quarter ended March 31, 2021, the IT stocks jumped 6.61%, as against a rise of 5% in the nifty. Earlier this week, TCS reported a 15 % on-year rise in net profit and declared a dividend of Rs 15 per share.

MINDTREE: IT firm’s results are expected on April 16, 2021. It was reported a 65.7% rise in consolidated net profit to Rs 326 crore for the December 2020 quarter. The company had posted a net profit of Rs 197 crore in the corresponding period last year, Mindtree said in a regulatory filing. So, such growth is expected this quarter as well. Mindtree was trading at around – 3%. The lowest for this stock yesterday was Rs 2,101.05 per piece. 

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