TCS, HCL Technologies, Infosys: These Tech Majors Will Announce Their Quarterly Earnings This Week

This week is going to be quite busy for Dalal Street as a slew of companies including tech gains - TCS, HCL Technologies, and Infosys are readying to give their Q2 earnings update to the investors. Globally, the rate hike spree adopted by the Federal Reserve and central banks of other countries has taken a toll on leading IT companies such as Microsoft, Google, and others. However, in India, the situation is considerably better as the Reserve Bank of India has kept the repo rate unchanged at 6.50% for four consecutive times.

Investors are keenly awaiting to see the business updates of the three tech companies for the quarter ending September 2023.

Tata Consultancy Services:

TCS or Tata Consultancy Services Limited will release its results for the quarter ending September 30, 2023, on October 11. The tech giant will also consider a proposal for buyback of equity shares of the Company, at its meeting to be held on the same date i..e October 11, 2023.

Today, TCS shares were seen trading 1.16% higher at Rs 3662.20 per share at 11:46 am IST.

Infosys:

Infosys will announce results for the second quarter ended September 30, 2022, on Thursday, October 12, 2022. Today, the share price of Infosys was up 0.26% at Rs 1482.40 per share at 11:49 am IST.

HCL Technologies

HCL Technologies will announce its results for the second quarter ended September 30, 2022, on Thursday, October 12, 2022. Today, the share price of HCL Technologies was up 2.06% at Rs 1261.60 per share at 11:52 am IST.

Expectations ahead

Tech companies are expected to report muted revenue growth despite a strong deal pipeline in their Q2 earnings reports. Slower-than-expected ramp-ups or conversions of existing deals are expected to cap a sharp revival in revenues in the near future. Besides, the margin performance is also anticipated to be a mixed bag.

IT firms having large number of clients in the retail and telecom sectors can feel more pressure on revenue growth as clients in developed markets grapple with soaring inflation.