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Infosys, Wipro shares fall; HCL Tech shares rise ahead of Q3 results

Infosys, Wipro shares fall; HCL Tech shares rise ahead of Q3 results

Infosys and HCL Tech would report quarterly results post market hours of Thursday, Wipro will reports its quarterly results on Friday

Infosys was trading 0.60 per cent lower at Rs 1,462.55 on BSE. Wipro was down 0.49 per cent at Rs 392 while HCL Tech was trading 1.16 per cent higher at Rs 1,067 Infosys was trading 0.60 per cent lower at Rs 1,462.55 on BSE. Wipro was down 0.49 per cent at Rs 392 while HCL Tech was trading 1.16 per cent higher at Rs 1,067

Shares of Infosys and Wipro edged lower in Thursday's trade while those of HCL Technologies (HCL Tech) were trading higher ahead of quarterly earnings.  While Infosys and HCL Tech would report quarterly results post market hours of Thursday, Wipro will reports its quarterly results on Friday.

At 10.09 am, shares of Infosys were trading 0.60 per cent lower at Rs 1,462.55 on BSE. Wipro was down 0.49 per cent at Rs 392 while HCL Tech was trading 1.16 per cent higher at Rs 1,067.

Infosys will report its quarterly results at around 3.45 pm Indian Standard Time (IST). The leadership team of Infosys will be part of a common press conference at 4:30 pm later in the day. The participating executives will address questions from the media during this interaction, which will be streamed live on the Investor Relations section of Infosys website, following which it will be archived.

HCL Technologies will also report its quarterly results post market hours today. HCL Tech's senior management would conduct an audio conference call at 7:30 pm. The one hour conference call would see the management discussing the results, which would be followed by a detailed question-answer session.

In the case of Wipro, its quarterly results will be out post market hours of Friday. Wipro's results will be available in the investors section of the company’s website and well as on stock exchanges.

For HCL Tech, Sharekhan expects 11.1 per cent YoY rise in net profit at Rs 3,825 crore compared with Rs 3,442 crore in the corresponding quarter last year. It sees sales for the IT major rising 17.4 per cent YoY to Rs 26,214 crore compared with Rs 22,331 crore in the same quarter last year.

For Infosys, PhillipCapital pegs profit at Rs 6,657 crore, up 14.6 per cent YoY. Nirmal Bang, which has a sell rating on the IT sector, is expecting profit for the Salil Parekh-led firm at Rs 6,546.70 crore, up 12.7 per cent. Motilal oswal sees profit for Infosys rising 11.2 per cent YoY to Rs 6,500 crore.

In terms of sales, Sharekhan sees Infosys revenues rising 19.6 per cent YoY at Rs 38,107 crore from Rs 31,867 crore in the same quarter last year. PhillipCapital sees Infosys revenues at Rs 37,935 crore, up 19 per cent. Nirmal Bang has a similar estimate. This brokerage is expecting Infosys revenues at Rs 37,992 crore, up 19.2 per cent.

For Wipro, Emkay Global expects Wipro to report a profit after tax of Rs 3,037.80 crore, up 2.3 per cent over Rs 2,969 crore in the year-ago quarter. Net sales are seen rising 15.5 per cent to Rs 23,468 crore compared with Rs 20,313 crore. Ebitda margin for the quarter is seen at 19.2 per cent compared with 20.6 per cent in the year-ago quarter, down 137 basis points.

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Published on: Jan 12, 2023, 10:38 AM IST
Posted by: Priya Raghuvanshi, Jan 12, 2023, 10:35 AM IST