HCL Tech, ICICI Prudential, Cyient to share Q4 results today; TTK Healthcare to consider delisting of shares

HCL Technologies (HCL Tech), ICICI Prudential Life Insurance and Cyient are among a dozen companies, which will announce their March quarter results on Thursday. TTK Healthcare will consider voluntary delisting of shares today. The board of Ion Exchange will consider stock split while the board of Laxmi Organic Industries will consider raising of funds later today.

In the case of HCL Technologies, the IT major will announce results post market hours. Analysts largely expects the IT major to report a single digit rise in net profit for the quarter on a double-digit jump in net sales. The sequential numbers, however, be weak partly due to software business seasonality. Analysts said HCL Tech may guide for a 5-7 per cent FY24 revenue growth in constant currency terms and 18-20 per cent FY24 Ebit margins.

In the case of Cyient, IDBI Capital expects the IT firm to report a 5.5 per cent QoQ rise in revenue in CC terms, with a cross currency benefit of 150 bps. Growth is expected to be led by 3.5 per cent QoQ (organic growth of 2.5 per cent) expansion in services revenues. "DLM segment is expected to record 27 per cent QoQ growth. In terms of verticals, growth is expected to be led by Communication and Aerospace. We forecast Ebit margin to improve 60 bps QoQ to 13.5 per cent due to cost optimisation and price hikes," the brokerage said.

Motilal Oswal expects ICICI Prudential Life to report a 10.6 per cent YoY rise in net profit at Rs 204.30 crore for the quarter. It expects VNB growth and margins to remain healthy and said the expense ratio will move in line with a pick-up in business growth. It sees a recovery in the Protection business and expects growth in the Non-Linked Savings business to remain healthy. "New business premium growth to remain modest; trends in Banca channel to be closely monitored," it said.

The board of TTK Healthcare will consider acquiring all equity shares that are held by public shareholders of the company either individually or collectively, or together with other members of the promoter Group, as the case may be; and consequently, voluntarily delist the shares from the stock exchanges where the shares are presently listed.

The Ion Exchange of Ion Exchange will meet today to consider and approve alteration of equity share capital of the company by way of splitting its existing equity shares, pursuant to the provisions of Section 61(1)(d) of Companies Act, 2013 and fixing respective dates thereto including postal ballot activity schedule.

Meanwhile, the board of Laxmi Organic Industries will consider and approve a proposal to raise further funds by way of equity and/or debt through any mode, as the board may deem fit and necessary. The company will seek the approval of the shareholders for the proposed raise of funds by way of postal ballot.

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