Analysts will be keenly tracking the financial performance of Tata Consultancy Services on Thursday. Analysts expect a 2.5-3 per cent sequential growth in revenue and 3.5-4.5 per cent rise in net profit for the October-December quarter. TCS had, last year, given bullish statements for this financial year, but after two quarters, the IT major turned cautious as the year turned out to be tougher than anticipated.
Divestment talk may impact IOC shares
The Finance Ministry has initiated talks for sale of 10 per cent stake in Indian Oil Corp. Currently, the government holds 68.57 per cent stake in the company. This will be the second stake sale in IOC by the government in the last two years. The Centre plans to sell 24.27 crore equity shares in IOC following plans for disinvestment in Oil and Natural Gas Corp getting stuck on subsidy woes. Shares of IOC may come under pressure ahead of the stake sale.
Q3 show to drive Bajaj Auto
Apart from IT major TCS, a slew of companies including Bajaj Auto, Federal Bank, Bajaj Holdings & Investments, HSIL, DB Corp, PTC India Financial Services, Assam Company, Autolite (India) and Cyient will announce their October- December quarter financial performance on Thursday. Among these, the performance of Bajaj Auto and Cyient (formerly Infotech Ltd) will attract greater attention from traders and investors.