Shares of IT major Infosys and banking major IndusInd Bank will declare their Q1 June 2019 results today. Also, Karnataka Bank, Sangam (India), TRF, Hathway Cable & Datacom, GNA Axles, Infomedia Press, 3i Infotech, Reliance Industrial Infrastructure will declare their quarterly results today.
Infosys Q1FY20 Result Expectations:
Infosys is expected to post stronger growth of 2.3% qoq in constant currency terms with cross-currency headwinds of ~30bps resulting in USD revenue growth of 2.0%.
The revenue growth would be aided by large deal ramp-ups and one-month revenue contribution from the Stater acquisition.
IndusInd Bank Q1FY20 Result Expectations:
NII – Rs2,772cr, up by 18.4% yoy due to ~30.6% yoy rise in loan book and flat margins.
PPOP – Rs2,260cr, up by 24% yoy due to higher NII and non-interest income.
PAT – Rs950cr, a decline of 8.3% yoy due to higher provisions.
Stock view:
IndusInd Bank Ltd is currently trading at Rs1,548.80, up by Rs7.95 or 0.52% from its previous closing of Rs1,540.85 on the BSE. The scrip opened at Rs1,546 and has touched a high and low of Rs1,557.30 and Rs1,532.70 respectively.
Infosys Ltd is currently trading at Rs723.40, up by Rs2.55 or 0.35% from its previous closing of Rs720.85 on the BSE. The scrip opened at Rs723.30 and has touched a high and low of Rs726.95 and Rs720.80 respectively.
Karnataka Bank Ltd is currently trading at Rs101.70, up by Rs1.65 or 1.65% from its previous closing of Rs100.05 on the BSE. The scrip opened at Rs100.75 and has touched a high and low of Rs101.70 and Rs100.25 respectively.
TRF Ltd is currently trading at Rs119.20 up by Rs1.75 or 1.49% from its previous closing of Rs117.45 on the BSE. The scrip opened at Rs119 and has touched a high and low of Rs120.65 and Rs117.40 respectively.
Hathway Cable & Datacom Ltd is currently trading at Rs24.30, up by Rs1.45 or 6.35% from its previous closing of Rs22.85 on the BSE. The scrip opened at Rs23.35 and has touched a high and low of Rs24.30 and Rs23.35 respectively.
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