BackQ4 results today: Adani Transmission, IRCTC to Sobha - these companies to announce earnings on Monday, May 29
The share of the information technology sector in the overall corporate profits pool plunged to at least a 21-quarter low of 9.7% in the March quarter, a Mint analysis of the latest corporate earnings data showed.
PremiumThe Indian benchmark equity indices rallied over a percent Friday led by sustained foreign funds inflow amid positive global and domestic cues. The US debt ceiling negotiations and the last round of corporate earnings were on investors’ radar throughout the week.
Expectations of strong domestic GDP growth rate in FY23 and FII buying may maintain investor confidence on Dalal Street this week. Additionally, Q4 and FY23 earnings this week will also drive the markets.
The corporate earnings for the quarter ended March 2023 so far were almost in line with the street estimates. Strong quarterly results from banks and automobile sector countered weak performance of the IT sector.
The share of the information technology sector in the overall corporate profits pool plunged to at least a 21-quarter low of 9.7% in the March quarter, a Mint analysis of the latest corporate earnings data showed.
Read here: IT sector’s profit pie drops to 5-year low
Adani Transmission, IRCTC, NHPC, Sobha, Rail Vikas Nigam, Torrent Power, Ipca Laboratories, Natco Pharma, Force Motors, Heidelbergcement India, The New India Assurance Company, Hikal, Campus Activewear, Ansal Housing, Eureka Forbes, NBCC (India), Allcargo Logistics, KNR Constructions, Jubilant Pharmova, among others will announce their March quarter earnings on Monday, May 29.
Moreover, NIIT, Bajaj Hindusthan Sugar, ITI, RattanIndia Enterprises, Suprajit Engineering, Bengal & Assam Company, Techno Electric & Engineering Company and Privi Speciality Chemicals will also release their Q4FY23 results.
Catch Live Market Updates here
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
