Revenue growth will be driven by the services business, which was boosted by the Verizon deal. In August 2023, HCLTech signed a $2.1 billion deal with Verizon to provide managed network solutions to its global enterprise customers.
As Q4FY24 earnings season begins, Motilal Oswal estimates Nifty earnings to grow 6% YoY. Among stocks, the brokerage expects 5 Nifty50 constituents to witness over 45 percent surge in their net profit on a year-on-year (YoY) basis in Q4FY24. Let s take a look at these stocks:
GAIL is expected to report a more than 50 per cent drop in profit, even as revenues may grow in double digits for the quarter. Sequential numbers though would see recovery after a tepid Q3, analysts said.
L&T Technologies, HCL Technologies and LTIMindtree were among technology stocks where the institutional category raised stakes by over 100 basis points during the quarter.
Most brokerages anticipate that the trend of capacity expansion will persist throughout the sector. Investor attention will remain focused on management commentaries for insights into plans to expand capacity, as well as the potential impact of this on profitability and margins.