Tata Consultancy Services (TCS) delivered strong Q1 performance with profit rising 4.6% to ₹13,349 crore from ₹12,760 crore in the previous year. The IT major's revenue jumped 13.9% to ₹72,275 crore compared with ₹63,437 crore in the corresponding period. Anand Rathi Wealth showed exceptional growth with Q1 profit zooming 73.6% to ₹163 crore from ₹93.9 crore, while revenue increased 17.5% to ₹322 crore compared with ₹274 crore in the corresponding period. According to reports from ET Now, these earnings announcements are expected to keep Indian stocks in focus during Friday's trading session.
SAIL's Bokaro Steel Plant is set to receive 8.3 million tonnes of iron ore annually directly from SAIL mines through a modern slurry pipeline system. Aastha Spintex Ltd, a Gujarat-based integrated cotton yarn manufacturer, announced the acquisition of Falcon Yarns to significantly expand manufacturing capacity and strengthen its growth plans. Dixon Technologies executed a joint venture agreement with Vivo Mobile India to incorporate a joint venture company in India for manufacturing electronic devices, including smartphones, as an OEM. As reported by ET Now, these strategic moves are expected to impact the respective company's operational capabilities and market positioning.
Oil marketing companies are set to dominate Q1 earnings but for the wrong reasons, with HPCL, BPCL and IOCL expected to post massive losses as elevated crude prices crushed fuel marketing margins. The sharp earnings hit is likely to overshadow profit growth in financials, telecom and metals, dragging overall India Inc. earnings. This sector-wide challenge highlights the impact of global commodity price volatility on Indian energy companies' financial performance.
TCS shares exhibit weak technical momentum before upcoming Q1 results, with analysts anticipating flat sequential revenue growth and a profit increase. Key support lies around the 1,985-2,000 zone for traders. Brokerages expect margins to decline due to wage hikes and other factors, while investors will monitor AI's impact and deal wins for future growth. Meanwhile, Swiggy and Eternal shares rallied sharply on Thursday as investor sentiment improved on Swiggy's foreign ownership falling below 50% and optimism around quick commerce.
Havells India announced a strategic collaboration with Norway-based Pixii AS to develop and introduce advanced Battery Energy Storage Systems for the Indian market. These collaborations reflect the growing focus on renewable energy storage solutions and advanced manufacturing capabilities in India's industrial sector. According to ET Now, these strategic partnerships are expected to enhance the companies' technological capabilities and market presence in their respective sectors. Meanwhile, Alkem Laboratories has launched semaglutide in single-shot pre-filled syringes in India, becoming the first company to offer this convenient format for diabetes and obesity management.
