Dr Reddy's Labs, Pidilite Industries, JSW Energy, SRF, PB Fintech, United Breweries, Voltas, IRB Infra and others will announce their Q4 results later today.
The IT stock hit a 52-week high of Rs 6,442 on January 5, 2024, but failed to hold the momentum. It closed at Rs 4,721 on April 23, 2024, which translates into a fall of over 26%. It has remained flat from a 3–6-month perspective, largely in line with the selling pressure seen in the IT index. The index has fallen over 7% in the last 3 months but rose a little over 10% in a 6-month time frame.
Bajaj Finance, Nestle India, Vedanta, Tech Mahindra, IndusInd Bank, L&T Technology and ACC will announce the results for March 2024 quarter later today.
LTIMindtree price target: Nirmal Bang noted that there has been several top management exits post the execution of merger between LTI and Mindtree. It suggeted a target price of Rs 4,015 on the stock.
Nirmal Bang expects LITMindtre to report 13.8 per cent YoY rise in profit at Rs 1,267 crore on 4.9 per cent YoY rise in sales at Rs 9,116 crore. Ebitda margin is seen at 16.2 per cent.