After Infosys' outperformance, analysts are pinning hopes on other top-rung IT players to take forward the good show. TCS, India’s leading IT company, is scheduled to declare its July-September quarter financial performance on Thursday. Of late, the company has been beating market expectations quite consistently. Dalal Street participants expect the company to report a 4-6 per cent profit growth over the previous quarter and about 10-15 per cent growth year-on-year.
REIL Electricals’ delisting begins
REIL Electricals India Ltd (formerly Remy Electricals India and earlier known as Sahney Paris Rhone Ltd) will remain in focus as its promoters seek to acquire 68,450 equity shares from retail investors. This represents the balance 1.81 per cent of the equity share capital from the public, which will complete its delisting from the BSE. The floor price has been fixed at ₹35.01, as against the current market price of ₹231.65. The delisting will be done via the tender route.
Expectations low on MindTree Q2
Shares of MindTree will attract market attention, as the IT major is set to unveil its September quarter financial performance on Wednesday. MindTree has doubled its shareholders wealth so far in the year. Citi Research India, in a recent report, revised its recommendation to ‘sell’ (from an earlier ‘buy’ recommendation). Most analysts expect the company to report lower net profit of ₹100-125 crore, as against ₹135.40 crore it reported the previous quarter.