Q2 Results Updates: Infosys ADR Falls Over 3%, Wipro Down Over 4%

Wipro profit rises 6% at Rs 3,226.60 crore meeting Bloomberg analyst expectations.

Infosys’ head office in Bengaluru (Photo: Vijay Sartape/NDTV Profit)

Q2 Results Live: CEAT Profit Falls 42%

  • Revenue up 8.2% to Rs 3,304.53 crore versus Rs 3,053.32 crore (Cons, YoY).

  • Net profit down 42% to Rs 121.45 crore versus Rs 207.72 crore (Cons, YoY).

  • Ebitda down 21% to Rs 362.28 crore versus Rs 456.12 crore (Cons, YoY).

  • Margin at 11.0% versus 14.9% (Cons, YoY).

  • Inventory writeback of Rs 56.9 crore versus Rs 3.8 crore (Cons, YoY).

Q2 Results Live: Infosys Aspires To Increase Margins In the Mid Term

Infosys has arrested margin decline and offset the headwinds, said Jayesh Sanghrajka, CFO, Infosys. He also added that the aspiration continues to increase margins in the mid-term.

Margin contribution from project maximus has delivered well he said.

Q2 Results Live: Infosys Sees Japan And Middle East As Newer Growth Markets

Infosys is seeing slowdown in automotive in Europe, said Salil Parekh, chief executive officer at Infosys. He also noted that discretionary spend in financial services in improving since last quarter.

Further, he added retail, high tech and telco's discretionary budgets are constrained.

Further he added that Japan and Middle East are newer growth markets.

Q2 Results Live: Wipro ADR Fell Over 4%

The American Depository Receipts of Wipro Ltd. was trading over 4% lower on Thursday after it reported its second quarter earnings on Thursday.

The ADR of the tech major fell as much as 4.21% to $6.150. The scrip opened at $6.345 but later fell to 4.21% lower as of 9:37 a.m. EDT.

Q2 Results Live: Infosys ADR Fell Over 3%

The American Depository Receipts of Infosys Ltd. was trading over 3% lower on Thursday after it reported its second quarter earnings on Thursday.

The ADR of the tech major fell as much as 3.65% to $22.07. The scrip opened 2% lower but later fell to 3.71% lower as of 9:37 a.m. EDT.

Also Read: Infosys ADRs Falls Nearly 3% After Q2 Result Announcement

Q2 Results Live: Axis Banks CD Ratio In Line With RBI Discussions

RBI has had discussions over CD ratio with various banks including Axis Bank and the bank has presented its strategy, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

The CD ratio currently is in line with the discussions we are having with the regulator, he added.

Source: Con call

Q2 Results Live: Axis Banks Total Gross Slippages At Rs 4,443 Crore

The total gross slippages for Axis Bank stood at Rs 4,443 crore, while retail slippages was at Rs 4,073 crore said Puneet Sharma, CFO Axis Bank.

Source: Con call

Q2 Results Live: Axis Banks Margin Did Not Decline Due To Drop In Spread

Margins of Axis Bank have not declined due to drop in spread said Puneet Sharma, CFO Axis Bank.

He also pointed out that the bank had received tax refund last quarter which is not there in September quarter.

Sharma also said that Axis Bank has maintained spread sequentially.

Source: Con call

Q2 Results Live: Corporate Salary Accounts In Axis Bank Rose 11%

Corporate salary accounts in Axis Bank rose 11% year-on-year, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

Chaudhry added that premiumisation of franchise continues to improve. The bank also believes that there is lot of scope for premium services in Tier 2 cities.

Source: Con call

Q2 Results Live: Axis Banks Quality And Strength Of Deposits Continue To Improve

The quality and strength of deposits of Axis Bank continue to improve, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

Source: Con call

Q2 Results Live: Wipro Has Enough Cash Balances To Pursue M&A

"We have enough cash balances to pursue M&A," said Aparna Iyer, CFO, Wipro. The company is also actively looking to pursue if the decision fits its strategy.

Iyers also said that Wipro will be sharing revised capital allocation policy after January board meeting. This will coincide with the time the company completes strategy plan for the next two-three years.

Source: Press Conference.

Q2 Results Live: Wipro Is Seeing Momentum Across Industries In America

  • Srini Pallia, chief executive officer at Wipro also added that discretionary spend hasn’t changed since last quarter.

  • Wipro is seeing momentum across industries in America reflecting the company's' pipeline added Pallia.

  • The pipeline in APMEA is good with Capco starting to grow APMEA and Latin America.

  • However, Pallia pointed that Europe as a market is slowing down and the impact was felt by some of accounts of the tech giant.

Source: Press Conference.

Q2 Results Live: Axis Bank Balance Sheet Grew 12%

  • Axis Bank’s balance sheet grew 12% year-on-year and stood at 15,05,658 crores as on Sept. 30.

  • Saving account deposits grew 2% year-on-year

  • Total term deposits grew 21% year-on-year and 4% quarter-on-quarter.

Source: Press Release

Q2 Results Live: Axis Bank Advances Rise 11%

  • Advances up 11% year-on-year to Rs 9.99 lakh crore.

  • Deposits up 14% year-on-year to Rs 10.87 lakh crore.

  • Retail loans up 15% year-on-year to Rs 5.98 lakh crore.

  • CASA deposits stood at 40% as of Sep. 30 versus 43% year ago.

  • NIM stood at 3.99% as of Sep. 30 versus 4.05% a quarter ago.

Source: Press Release

Q2 Results Live: Tata Chemical Profit Falls 46%, But Beats Estimates

  • Revenue flat at Rs 3,999 crore versus Rs 3,998 crore.

  • Net profit down 46% to Rs 267 crore versus Rs 495 crore.

  • Ebitda down 25% to Rs 618 crore versus Rs 819 crore.

  • Margin at 15.5% versus 20.5%.

Q2 Results Live: Infosys Saw Growth In All Geographies Sequentially

"We saw growth in all geographies sequentially," said Salil Parekh, CEO, Infosys.

He further added that, BFSI in US continues to see discretionary spend increase.

Parekh also said that Infosys is seeing slowness in automotive sector in Europe.

Source: Press Conference.

Q2 Results Live: Polycab India Profit Rises 4%

  • Revenue up 30.4% to Rs 5,498.42 crore versus Rs 4,217.70 crore.

  • Net profit up 4% to Rs 445.21 crore versus Rs 429.77 crore.

  • Ebitda up 4% to Rs 631.55 crore versus Rs 608.93 crore.

  • Margin at 11.5% versus 14.4%.

Q2 Results Live: Havells Expects Margins To Be Back To Earlier Levels

  • Havells expects the margins for financial year 2026 be back to earlier levels.

  • The company also noted that degowth was observed in industrial switchgear segment. The company expects double digit growth going forward.

Source: Con call

Q2 Results Live: LTIMindtree Profit Rises 10%, Meets Estimates

  • Revenue up 3.2% to Rs 9,432.90 crore versus Rs 9,142.60 crore.

  • Net profit up 10% to Rs 1,251.60 crore versus Rs 1,135.10 crore.

  • Ebitd down 13% to Rs 1,458.20 crore versus Rs 1,685.70 crore.

  • Margin at 15.5% versus 18.4%.

Also Read: LTIMindtree Q2 Results: Profit Rises 10%, Meets Estimates

Q2 Results Live: Havells Cables Margins Impacted Due To Higher Raw Material Cost

  • Havells cables margins were impacted due to higher raw material prices, company management said on Thursday.

  • The company expects normalisation over subsequent quarter.

  • It also added that the company will have additional capital infusion of Rs 450 crore.

Source: Con call

Q2 Results Live: Wipro Bookings

Total bookings for Wipro were at $3,561 million. Large deal bookings were at $1,489 million, with an increase of 28.8% quarter-on-quarter and 16.8% year-on-year in constant currency.

Q2 Results Live: Wipro Revenue Guidance In Q3 At -2.0% to 0.0%

Wipro's revenue guidance in constant currency for the third quarter, quarter-on-quarter was at -2.0% to 0.0%. This is below estimated number of −0.5% to 1.5%.

Also Read: Wipro Q2 Results: Net Profit Rises 6%, Beats Estimates

Q2 Results Live: Infosys Announces Dividend Of Rs 21

Infosys announced an interim dividend of Rs 21 per equity share. The IT giant has fixed Oct. 29 as a record date and Nov. 8 as a payout date.

Also Read: Infosys Announces Interim Dividend Of Rs 21 Per Share

Q2 Results Live: Wipro Net Profit Up 6%, Beats Estimate

  • Revenue up 1.5% to Rs 22,301.60 crore versus Rs 21,963.80 crore.

  • Net profit up 6% to Rs 3,226.60 crore versus Rs 3,036.60 crore.

  • Ebitd up 1% to Rs 3,672.50 crore versus Rs 3,625.20 crore.

  • Margin at 16.5% versus 16.3%.

Q2 Results Live: Axis Bank Net Profit Rises 18%, Beats Estimates

  • Net profit rose 18% to Rs 6,918 crore versus Rs 5,864 crore. (Bloomberg estimate: Rs 6,370 crore) (YoY).

  • Gross NPA at 1.44% versus 1.54% (QoQ).

  • NNPA flat at 0.34% (QoQ).

  • NII rose 9% At Rs 13,483 crore Vs Rs 12,314 crore (YoY)

Also Read: Axis Bank Q2 Results: Profit Beats Estimates, Asset Quality Improves

Q2 Results Live: Infosys Profit Up 2%

  • Revenue up 4.3% to Rs 40,986 crore versus Rs 39,315 crore.

  • Net Profit up 2% to Rs 6,516 crore versus Rs 6,374 crore.

  • Ebitd up 4% to Rs 8,649 crore versus Rs 8,288 crore.

  • Margin at 21.2% versus 21.1%.

Q2 Results Live: Infosys Revises Revenue Growth Guidance

CC Revenue growth guidance has been revised to 3.75% to 4.5% for FY25. Earlier the guidance was at 3-4%.

Q2 Results Live: Jindal Stainless Net Profit Fell 20%

Jindal Stainless Ltd. reported a 20% year-on-year fell in consolidated net profit for the second quarter of this financial year, missing analyst estimates.

The stainless-steel maker recorded a consolidated net profit of Rs 609.42 crore for the quarter ended September, compared to Rs 764.03 crore in the same quarter of the previous fiscal year, according to its stock exchange notification. This was above the Rs 729 crore estimate by analysts tracked by Bloomberg.

Revenue decreased by 0.2% year-on-year for the three months ended September, reaching Rs 9,776.83 crore. Analysts had projected revenue of Rs 9,367 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 4% year-on-year to Rs 1,186.49 crore. The Ebitda margin contracted to 12.1% from 12.6% in the same period the previous year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 1,242 crore and 13.30%, respectively.

Q2 Results Live: Indian Overseas Bank Net Profit Rises By 24% 

Indian Overseas Bank Q2 Highlights (Standalone)

  • NII up 8% at Rs 2,538 crore versus Rs 2,346 crore (YoY).

  • Net profit up 24% at Rs 777 crore versus Rs 625 crore (YoY)

  • Gross NPA at 2.72% versus 2.89% (QoQ).

  • Net NPA at 0.47% versus 0.51% (QoQ).

Q2 Results Live: Havells India Net Profit Rises 7.5%

Havells India Q2 Highlights (Consolidated, YoY)

  • Revenue up 16.4% at Rs 4,539 crore versus Rs 3,900 crore.

  • Net Profit up 7.5% at Rs 268 crore versus Rs 249 crore.

  • Ebitda up 0.5% at Rs 375 crore versus Rs 373 crore.

  • Margin at 8.3% versus 9.6%.

Also Read: Havells India Q2 Results: Profit Up Nearly 8% But Misses Estimates

Q2 Results Live: Tata Communication Net Profit Slumps 

Tata Communications Q2 Highlights (Consolidated, QoQ)

  • Revenue up 2% at Rs 5,767 crore versus Rs 5,633 crore

  • Ebitda down 0.6% at Rs 1,116 crore versus Rs 1,123 crore

  • Ebitda margin at 19.4% versus 19.9%

  • Net profit down 32% at Rs 227 crore versus Rs 333 crore

Q2 Results Live: Axis Bank, Jindal Stainless, Tata Chemicals Earnings Estimates 

Axis Bank is likely to clock a bottom line of Rs 6,381 crore and, according to Bloomberg estimates.

Jindal Stainless Ltd., a leading stainless steel manufacturer, is likely to report a net profit of Rs 729 crore and revenue of Rs 9,367.00 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 1,242 crore and an Ebitda margin of 13.30%.

Two companies from the Tata Group, Tata Chemicals Ltd. and Tata Communications Ltd., are set to announce their second-quarter earnings on Oct. 17.

Analyst estimates show that Tata Chemicals is likely to report a net profit of Rs 231 crore and revenue of Rs 3,994.0 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 647 crore and an EBIT margin of 16.20%.

Tata Communications is estimated to report a profit of Rs 271 crore and a revenue of Rs 5,777 crore. It is expected to post an Ebitda of Rs 1,158 crore and an Ebitda margin of 20%.

Q2 Results Live: Karur Vysya Bank Net Profit Up 25% 

Karur Vysya Bank Q2 Highlights (Standalone)

  • NII up 16% at Rs 1,060 crore versus Rs 915 crore (YoY).

  • Net Profit up 25% at Rs 474 crore versus Rs 378 crore (YoY).

  • Net NPA at 0.28% versus 0.38% (QoQ).

  • Gross NPA at 1.10% versus 1.32% (QoQ).

Q2 Results Live: Central Bank Net Profit Jumps 51%

Central Bank of India Q2 Highlights (Standalone)

  • NII up 13% at Rs 3,411 crore versus Rs 3,023 crore (Y-o-Y).

  • Net profit up 51% at Rs 913 crore versus Rs 605 crore (Y-o-Y).

  • Gross NPA at 4.59% versus 4.54% (Q-o-Q).

  • Net NPA at 0.69% versus 0.73% (Q-o-Q).

Nifty, Sensex Trade Lower: Midday Market Update

India's benchmark stock indices were trading lower through midday on Thursday, tracking a decline in HDFC Bank Ltd. and Bajaj Auto Ltd. share prices. As of 12:08 p.m., the Nifty 50 was trading 0.76% lower at 24,781.20 and the Sensex was trading 0.43% lower at 81,043.21. 

So far today, the Nifty 50 fell 0.81% to 24,769.95, and the Sensex declined 0.62% to 80,998.12.

Bajaj Auto Ltd. share price plunged 12.11% to Rs 10,210.00 apiece, the lowest level since Aug 23 after analysts flagged concern over its high valuation. The company has posted its highest-ever quarterly revenue. Bajaj Auto stock holds 1.03% weightage in the Nifty 50 index.

Broader markets underperformed benchmark indices, with the BSE Midcap and Smallcap falling 1.24% and 1.09%, respectively, through midday on Thursday.

On BSE, 18 sectors declined and two advanced. The BSE IT was the best-performing sector, and the BSE Auto declined the most.

Market breadth was skewed in favour of sellers. Around 2,482 stocks declined, 1,294 stocks advanced, and 137 stocks remained unchanged on BSE.

Also Read: Nifty, Sensex Trade Lower As HDFC Bank, Bajaj Auto Fall: Midday Market Update

Q2 Results Live: Here's What Top Brokerages Expect From Infosys Earnings 

Morgan Stanley expects Infosys to lead revenue growth by reporting organic constant currency sequential revenue growth of 2.8%. Bank of America expects this kind of revenue growth, including inorganic growth.

Large deal ramp-up and hiring in the second quarter should be margin headwinds. However, subcontractor optimisation and the positive impact of value-based selling should be able to negate the headwinds, according to JM Financial.

Motilal Oswal sees the company's operating margin inch down 80 basis points due to reversal of one-offs, large deal investments and decline in utilisation.

In terms of guidance, BofA, Morgan Stanley and Motilal Oswal expect Infosys to upgrade its full-year guidance by 50 basis points, while Ambit Capital expects it to maintain it. 

On demand commentary amid a cautious environment, ICICI Securities underscores that cost efficiency focus and deal consolidation will continue. Traction in financial services is expected to continue from the first quarter; higher traction in hi-tech and recovery in communication is also expected, it adds.

Read more here.

Q2 Results Live: Nestle Cuts Full-Year Guidance Weeks After Naming New CEO

Nestle SA cut its sales and profit guidance for the year as it struggles to rebuild market share after higher prices turned consumers off branded products.

The maker of Nescafe coffee and Purina pet food now expects organic sales to rise around 2% in 2024, below the previous forecast of at least 3%, the company said in a statement Thursday. Sales climbed 2% in the first nine months of the year.

“Consumer demand has weakened in recent months, and we expect the demand environment to remain soft,” new Chief Executive Officer Laurent Freixe said. Organic growth in North America was the weakest, with sales contracting 0.3%. 

Nestle abruptly replaced CEO Mark Schneider with Freixe in September, shifting from an outsider who previously ran a health-care company to an insider who climbed the Swiss company’s executive ranks focusing on functions like marketing and selling. 

Read more here.

Also Read: Nestle India Invests Rs 705 Crore In JV With Dr Reddy's Labs

Q2 Results Live: Nestle Shares Extend Fall As Net Profit Dips 

Shares of Nestle India extended its fall after it reported a net profit of Rs 899 crore in September quarter, down 0.9% from a year ago period. The margin for the period came in at 22.9% against 24.3% in the year-ago period. Revenue grew slightly by 1.5% to Rs 5,104 crore.

Nestle stock fell as much as 3,2% during the day to Rs 2,381 apiece on the NSE. It was trading 2.8% higher at Rs 2,393 apiece, compared to a 0.76% advance in the benchmark Nifty 50 as of 10:24 p.m.

It has risen 2.6% during the last 12 months and has declined by 9.8% on a year-to-date basis. The relative strength index was at 26.

Sixteen out of the 38 analysts tracking the company have a 'buy' rating on the stock, 17 suggest a 'hold' and five have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 9%.

Q2 Results Live: Nestle India Net Profit Slips Marginally 

Nestle India Ltd.'s net profit fell marginally in the second quarter of financial year 2025, meeting analysts' estimates, showed the company's quarterly earnings announced on Thursday.

Net profit of the maker of Maggi instant noodles and KitKat chocolates decreased 0.9% year-on-year to Rs 899.49 crore in the three months ended September, according to an exchange filing on Thursday. That compares with the Rs 882-crore consensus estimate of analysts tracked by Bloomberg.

Nestle India Q2 Highlights (Consolidated, YoY)

  • Revenue up 1.3% at Rs 5,104 croire versus Rs 5,037 crore.

  • Ebitda down 4.7% at Rs 1,168 crore versus Rs 1,226 crore

  • Margin at 22.9% versus 24.3%.

  • Net profit down 0.9% at Rs 899 crore versus Rs 908 crore.

Also Read: Nestle India Q2 Results: Margin Misses Estimates As It Slips To 2022 Levels

Infosys Q2 Results Preview: Revenue, Profit Likely To Improve 

Infosys Ltd., which is set to announce its earnings for the second quarter of the current financial year on Thursday, is expected to see a growth in revenue, profits and margin. 

The IT services major's consolidated net profit may rise 7% sequentially to Rs 6,815 crore in the quarter ended September, according to a consensus of analysts' estimates tracked by Bloomberg.

Infosys Q2 FY25 Earnings Estimates (Consolidated, QoQ)

  • Revenue may rise 3.5% to Rs 40,707 crore.

  • Profit may rise 7% to Rs 6,815 crore.

  • EBIT margin may expand 30 basis points to 21.4%.

  • EBIT may rise 5.2% to Rs 8,726 crore.

Infosys has guided for revenue growth of 3–4% for the fiscal. The company raised its revenue forecast, citing significant large deals during the April–June period.

Read more here.

Q2 Results Live: Here's What Top Brokerages Expect From Wipro Earnings 

BofA and Morgan Stanley expect Wipro to guide for constant currency revenue growth of −0.5% to 1.5% for the third quarter, on the back of healthy deal wins. 

Brokerages note that the second quarter margins will be impacted due to the wage hike. Operational efficiencies and favourable foreign exchange will likely aid 35 basis points sequential expansion in EBIT margin to 16.8%, according to JM Financial. 

On demand, ICICI Securities notes that demand commentary has not improved with continued pressure on discretionary spends. However, some green shoots in consulting, in line with superior Capco performance in Q4FY24 and Q1FY25, are expected. Q2 is estimated to fare better than Q1. Energy and utility verticals are estimated to be soft, with large deals coming to an end, the brokerage added. 

In Q1, large deal bookings stood at $1,154 million, and total bookings were at $3.28 billion. Ahead of Q2 results, ICICI Securities notes that there is some decline in large deal announcements QoQ in Q2, with some deals from hi-tech and ER&D.

Wipro Q2 Results Preview: Profit Expected To Dip

IT bellwether Wipro is expected to see improvement in revenue, while profits might dip marginally. 

The IT services firm's net profit may fall 0.2% sequentially to Rs 2,996 crore in the quarter ended September, according to a consensus of analysts' estimates tracked by Bloomberg.

Wipro Q2 FY25 Earnings Estimates (Consolidated, QoQ)

  • Revenue may rise 1.4% to Rs 22,271 crore.

  • Ebit may come in flat at Rs. 3,625 crore.

  • Margin expected to be flat at 16.3% 

  • Net profit may fall by 0.2% to Rs. 2,996 crore.

Management commentary on steps towards the long-term plan under the new management, demand trajectory in the consulting business Capco, trajectory in the BFSI space, and update on healthcare, retail, and energy and utilities verticals is to be watched out for. 

Read more here.

Q2 Results Live: Two Tata Companies To Report Earnings Today 

Two companies from the Tata Group, Tata Chemicals Ltd. and Tata Communications Ltd., are set to announce their second-quarter earnings on Thursday.

Analyst estimates show that Tata Chemicals is likely to report a net profit of Rs 231 crore and revenue of Rs 3,994.0 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 647 crore and an EBIT margin of 16.20%.

Tata Communications is estimated to report a profit of Rs 271 crore and a revenue of Rs 5,777 crore. It is expected to post an Ebitda of Rs 1,158 crore and an Ebitda margin of 20%.

Q2 Results Live: Earnings Estimates Of Infosys, Axis Bank, Wipro And More 

Infosys Ltd., Axis Bank, Wipro Ltd. and LTIMindtree Ltd. are among the top names that will announce their results on Thursday for the second quarter of the current financial year.

Analyst estimates show that Infosys is likely to report a net profit of Rs 6,831 crore and revenue of Rs 40,820 crore, according to Bloomberg estimates. It is likely to post an EBIT of Rs 8699 crore and an EBIT margin of 18.30%.

Axis Bank is likely to clock a bottom line of Rs 6,381 crore and, according to Bloomberg estimates.

Wipro is estimated to report a profit of Rs 3,009.0 crore and a revenue of Rs 22,235 crore. The company is likely to report EBIT at Rs 3629 crore and EBIT margin at 16.30%.

Q2 Results Live: Infosys Gains Ahead Of Second Quarter Earnings 

Infosys Ltd.'s share price rose 2% in early trade on Thursday, ahead of the release of its July-September quarter results. The IT services major's consolidated net profit may rise 7% sequentially to Rs 6,815 crore in the second quarter, according to a consensus of analysts' estimates tracked by Bloomberg.

Infosys' revenue is projected to increase by 3.5% to Rs 40,707 crore. Additionally, EBIT is expected to grow by 5.2% to Rs 8,726 crore, with the EBIT margin anticipated to expand by 30 basis points, reaching 21.4%.

In terms of guidance, BofA, Morgan Stanley, and Motilal Oswal expect Infosys to upgrade its full-year guidance by 50 basis points, while Ambit Capital expects it to maintain it. 

The Bengaluru-based IT behemoth has guided revenue growth of 3–4% for the fiscal. The company has increased its revenue forecast, citing significant deals during the April-June period.

The company secured 34 large deals in the first quarter, its highest ever, with a total contract value of $4.1 billion, 57.6% of which were net new. Ahead of Q2 results, ICICI Securities notes that deal wins have been flat QoQ, slightly on the lower side. 

The Infosys results will follow that of larger rival Tata Consultancy Services Ltd., whose second-quarter earnings missed profit and margin estimates as the IT giant grappled with weak demand and high pass-through costs.

Infosys share price advanced 2% intraday to Rs 1,958.35 apiece. The scrip was trading 1.74% higher at Rs 1,953.5 by 9:45 a.m. The benchmark NSE Nifty 50 was down 0.56%, while the Nifty IT index surged 0.74% with most constituents in the green.

The stock has risen 35% in the last 12 months and 26% on a year-to-date basis. The relative strength index was at 32.

Thirty out of the 45 analysts tracking the stock have a 'buy' rating on the stock, 10 recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average 12-month analyst price target of Rs 1,981.8 implies a potential upside of 2.2%.

Q2 Results Live: Infosys, Wipro, Nestle To Report Earnings Today

Information technology majors Infosys Ltd. and Wipro Ltd. will be among the top names to watch out for as they will report their second-quarter earnings on Thursday.

Axis Bank Ltd., Nestle India Ltd., Tata Communications Ltd. and LTIMindtree Ltd. are among the other big names that will announce their results for the second quarter of the current financial year.

Central Bank Of India, Havells India Ltd., Indian Overseas Bank, Jindal Stainless Ltd., Polycab India Ltd., and Tata Chemicals Ltd. will be the other companies to report their earnings during the session.

Also Read: Stock Market Today: Nifty, Sensex End Near Two-Month Low; Bajaj Auto, Shriram Finance Top Losers

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WRITTEN BY
Sai Aravindh
Sai Aravindh is a desk writer at NDTV Profit, where he covers business and ... more
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