A host of largecap companies such as Wipro, Hindustan Unilever (HUL), Axis Bank, Tech Mahindra (TechM), LTIMindtree and Bajaj Finserv will announce their quarterly results today. Among these companies, the board of Wipro will also consider a share buyback while the boards of rest of the companies will consider paying final dividend for FY23. The day will also see ABB India shares turning ex-dividend.
ICICI Securities said LTIMindtree remains the fastest-growing IT services company under its coverage with a likely 10.4 per cent CC revenue growth in FY24 and 16.3 per cent/ 16.2 per cent growth during FY25E/FY26E. Merger synergies on both revenues and EBIT margins will likely enable an EBIT CAGR of 20 per cent over FY23E-FY26E, it said. For March quarter, it expects LTIMindtree to report 0.5 per cent CC QoQ revenue growth with adjusted EBIT margin expansion of 200 bps QoQ. It sees profit at Rs 1,156 rcore, up 4.1 per cent over Rs 1,110.60 crore YoY. Revenue is seen at Rs 8,742.40 crore, up 21.4 per cent YoY.