TCS came out with results which were largely in line with estimates.
It was a volatile day and last minute buying pushed the index towards fresh closing high on Nifty on Thursday, but most analysts are losing conviction in the Bull run at least in the short term.
They are advising clients to wait for a sustained move on the upside before creating fresh long positions as Nifty is showing signs of overbought which could cap further upside but, today is a new day and D-Street will react to TCS numbers and Infosys.
TCS came out with results which were largely in line with estimates. The Net profit was above analysts’ expectations while Dollar revenue was largely in line with estimates.
For Infosys, the IT major is expected to report a profit for the quarter at Rs 3,609 crore, down 3.14 percent compared to Rs 3,726 crore in previous quarter, according to an average of estimates of analysts polled by CNBC-TV18.
Dollar revenue may grow 1 percent to USD 2,754 million from USD 2,728 million QoQ. The stock ended 2.2 percent higher at Rs1075.80 on the NSE on Thursday.
For more, watch the Markets@Moneycontrol show. Moneycontrol Research Analyst Shishir Asthana speaks to Anchal Pathak on the trends to watch out for today.
First Published on Jan 12, 2018 09:06 am