Business News | Earnings season begins, will determine market movement in coming days

Mumbai (Maharashtra) (India), July 11 (ANI): The earnings season for Q1 (April-June) 2024 has begun. The Indian stock market is set to release its earnings on Thursday, marking an important time for investors and analysts.

The country’s largest IT companies will release their financial results for the first quarter of 2024 this week, according to the Bombay Stock Exchange (BSE).

Also Read | Mumbai BMW Road Accident Case: Mihir Shah admits he was driving a BMW car at the time of accident, police say.

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 jump 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 results.

Thursday also marks the announcement of financial services firm Anand Rathi’s earnings. The firm’s performance will be closely monitored by market participants, given its significant impact on the financial sector. The firm’s results will provide valuable insight into the broader financial services landscape and help assess the sector’s health in the current economic environment.

Also Read | National Mojito Day 2024: Facts about the mojito: from its historical roots to its being Ernest Hemingway’s favorite drink.

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 2024 results on July 17. Infosys will disclose its results on July 18, while Wipro is scheduled to report its Q1 results on July 19.

Further, Tech Mahindra is expected to announce its Q1 results on July 26. These announcements are highly anticipated as they will 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 short term.

Investors and analysts will carefully analyze various metrics including revenue growth, profit margins and future forecasts to make informed decisions.

As earnings reports start rolling in, market sentiment will be driven by the performance of key players. (ANI)

(This is an unedited and auto-generated story from a Syndicated News feed, the LatestLY team may not have modified or edited the content)