The earnings season is starting and will determine the market movement in the coming days

MUMBAI: The earnings season for the first quarter (April-June) of 2024 has begun, with major companies set to report their results on Thursday in the Indian stock market, marking an important period for investors and analysts. The country’s major IT firms will report their financial results for the first quarter of 2024 this week, according to the Bombay Stock Exchange (BSE).

Among the big names, Tata Consultancy Services (TCS) is set to announce its first-quarter results on Thursday. In its previous earnings announcement, TCS had reported a 9 per cent rise in net profit for the fourth quarter of fiscal 2024 at Rs 12,434 crore as compared to Rs 11,392 crore in the fourth quarter of fiscal 2023. This significant increase has raised expectations for the company’s first-quarter performance. Thursday also marks the earnings announcement for financial services firm Anand Rathi. The company’s performance will be closely monitored by market participants, given its significant footprint in the financial sector.

The company’s results will provide valuable insights into the broader financial services landscape and help assess the sector’s health in the current economic environment. After TCS, other IT giants are expected to announce their results in the coming days. HCL Technologies will release its earnings on Friday, July 12.

LtiMindtree is scheduled to announce its Q1 FY24 results on July 17. Infosys is set to reveal its results on July 18, while Wipro is scheduled to report its Q1 results on July 19. Additionally, Tech Mahindra is scheduled to announce its Q1 results on July 26. These announcements are expected to provide a comprehensive look at the financial health and operational performance of these leading companies.

Earnings season is a key time for the stock market, offering insight into the performance and future prospects of listed companies. The results announced by these companies will not only affect their share prices but also set the tone for the market’s direction in the near future. Investors and analysts will be closely analyzing various metrics, including revenue growth, profit margins, and future guidance, to make informed decisions.

As earnings reports start rolling in, market sentiment will hinge on the performance of key players.