Q1 Results 2024: With the likes of TCS, HCL Tech, Asian Paints, LTIMindtree and many others having already released their earnings for the quarter that ended June 30, 2024, the Q1 earnings season has started and is in full swing. Market participants were today keen on the performance of players like Infosys, Tata Technologies, JSW Infra, Havells India, Persistent Systems, CEAT, Polycab India, Dalmia Bharat, Central Bank of India, among others. Meanwhile, the street also keept a watch on how stocks performed for the companies that have already released their earnings for the period.
The week will witness announcements from the likes of JSW Steel, Reliance Industries, BPCL, Wipro, among others.
Q1 Results 2024 Highlights: Infosys, Tata Technologies, JSW Infra, L&T Tech, Havells India, and others released earnings
Infosys is expected to report a strong quarter-on-quarter revenue growth in Q1 FY25, driven mainly by the ramp-up of large deals. The company’s revenues for the quarter ending June 30, 2024, are seen increasing by 2.5% on-quarter. Meanwhile, the same is likely to jump 2% y-o-y. On a constant currency basis, the revenue growth is likely to see a growth of 3% on-quarter. The company will announce its results on July 18.
The brokerage house InCred Equities upgrades the rating to “Add” on LTIMindtree from “Reduce” earlier.
InCred Equities said that it expects a 10% US Dollar revenue CAGR over FY25F-27F and a 15.6% PAT (Rs) CAGR and apply a target PE/G multiple of 1.79x (15% discount to TCS’ multiple) to arrive at a target price of Rs 5,998. “Traction in key verticals which in turn could aid margin expansion and improve cash conversion supports our constructive view while weaker recovery in the FSI & technology verticals led by client-specific issues, and higher attrition led by demand uptick are key downside risks,” said InCred Equities on LTIMindtree post Q1 FY25 results.