The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on the National Stock Exchange traded largely steady in early trade on Thursday. Notably, during the past four sessions, indices traded on a positive note. At 10.05 a.m., Sensex traded flat at 61,161 and Nifty at 18,215 points.
Top gainers during the early trade were Tata Steel, Power Grid Corp, Coal India, Sun Pharmaceutical, JSW Steel. On the contrary, Wipro, Adani Green Energy, Biocon, Tata Motors, HDFC Bank were some of the top losers, NSE data showed.
IT firms' quarterly results
Infosys revenue numbers were ahead of several estimates but margins came in slightly below the market estimates. Revenues increased 7% QoQ in CC terms, while dollar revenues increased 6.3%QoQ to US$4,250 million. It reported EBIT margin of 23.5%, which was down ~10 bps QoQ . Revenue growth was across geographies and verticals, led by Europe, which grew 27.2% YoY while In terms of verticals the growth was led by BFSI, retail, communication.
Tata Consultancy Services (TCS) results were above the market estimates on revenue front but below on the margin front. Revenue grew 3%QoQ to US$6,524 million. In terms of revenue by geographies, North America , UK and Continental Europe reported healthy growth. In vertical wise, BFSI, retail & healthcare drive the growth.
Wipro reported a weak set of Q3FY22 numbers. IT services revenues increased 3%QoQ in constant currency (CC) while dollar revenues were up 2.3% QoQ to US$2,639 million. Rupee revenues were at Rs 19,974 crore, up 3.1% QoQ.