HDFC Bank, Infosys Ltd Flat Ahead Of Q2

Sensex and Nifty opened on a positive note on Monday. Sensex gained over 100 pts and Nifty crossed the 10,200 level. HDFC Bank shares Flat were trading on a flat note ahead of Sept quarter earnings. HDFC Bank stock rose about 0.6 % to Rs 1,875 in later morning hours today. Its net interest income rose 20.2%  to Rs 9,610 crore V/s Rs. 7,994 crore year-on-year, while net profit seen increasing 20.7% Rs 4,171 crore from Rs 3,455 crore in the corresponding period last year.

Shares of Infosys Ltd also were trading flat in morning trade on Tuesday ahead of its results of Q2 Sept 30, 2017. Infosys will announce its financial results after market hours today. The scrip was trading 0.01% down at Rs 939.60 in the morning hours. Its shares opened at Rs 945 and touched a high of Rs 947.50 and low of Rs 937, during the time.

As per Reliance Securities estimation, Infosys Ltd may report revenue of Rs 17,560 crore in Quarter-2 FY-18 over Rs 17,078 crore in Quarter-FY 18. It said, the USD revenue is expected to jump by 3.6% on QoQ, while revenue in constant currency growth is pegged at 2.4% on QoQ.

Quarterly results to dictate market trend this week

The continuing quarterly results season, together with global markets cues and direction of foreign funds are expected to keep the tone for the key Indian equity indices through this week.

The major companies announcing their July-Sept 2017 quarterly results include, Hindustan Zinc Ltd. and Indiabulls Housing Finance will declare their financial results today, 23 October 2017.

Infosys Ltd, Asian Paints, Ambuja Cements, ICICI Prudential, HDFC Bank, Zee Entertainment Enterprises and ABB India Ltd will announce July-Sept 2017 quarterly results on Tuesday, 24 October 2017.

Kotak Mahindra Bank, Hindustan Unilever, Glaxo smithkline Pharmaceuticals, HCL Technologies, Mahindra & Mahindra Financial Services, RBL Bank and Tata Communications will announce their results on Wednesday 25 October 2017, while Yes Bank will announce their earning result on Thursday, 26 October 2017, whereas ITC, IOC, ICICI Bank, and Maruti Suzuki India will announce July-Sep 2017 quarterly results on Friday, 27 October 2017.

Wipro gains over 3% after Sept quarter results

Shares of Wipro Ltd today rose by over 3.16% to Rs. 298.65 on BSE after the company reported a 5.8% rise in net profit for the 3 months to September, while at the NSE, shares of Wipro went up by 3.19% to Rs. 299.10.

Wipro’s consolidated net profit in July-Sept at Rs. 2,191.8 crore, or Rs. 4.52 per share, was higher than Rs. 2,070.4 crore, or Rs. 4.28 a share, in the corresponding period a year ago. On a sequential basis, the profit was up 5.5% as per Indian Accounting Standards. The company’s total income fell by about 1.9% to Rs. 14,134.8 crore and its IT services revenue in dollar terms grew by 2.1% on Q-o-Q basis to 2.013 billion dollar in July-Sept, while constant currency sequential growth was 0.3%