TCS, Infosys Wipro: Nirmal Bang said valuations for most IT stocks are expensive in relation to their 5-year or 10-year histories and it sees no material upside to FY25/FY26 earnings for its coverage in the next 12 months.
TCS dividend: TCS paid a special dividend of Rs 18 per share and an interim dividend of Rs 9 per cent share post its third quarter results. It announced Rs 45 per share in total dividend in FY24 so far.
Q4 earnings preview: Infosys and Wipro should see flat revenues, while TCS is expected to outperform others with 2.2 per cent QoQ CC, driven by the scaling up of the BSNL business, Motilal Oswal said.
Tata Steel Ltd, BPCL Ltd, Reliance Industries Ltd and JSW Steel are seen dragging Nifty earnings, the brokerage said. In total, 17 Nifty companies are likely to report a profit growth of 20 per cent YoY and more.
For Infosys, Nirmal Bang expects total contract value (TCV) in the $2-3 billion range. For HCL, Nirmal Bang sees TCV to come in the guided range on the back of a healthy pipeline.