PRE-MARKET INDIAN STOCKS NEWS: Tata Consultancy Services (TCS IS) Q2 (INR) net rose 7.6% Y/Y to 138.84bln, rev. rose 11.2% Y/Y to 731.88bln, declared a second interim dividend of INR 12/shr for FY27
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PRE-MARKET INDIAN STOCKS NEWS: Tata Consultancy Services (TCS IS) Q2 (INR) net rose 7.6% Y/Y to 138.84bln, rev. rose 11.2% Y/Y to 731.88bln, declared a second interim dividend of INR 12/shr for FY27
Russian airstrike kills one and injures two in Ukraine's Zaporizhzhia
Hong Kong Exchanges & Clearing (388 HK) is to publish Q4 consultation on extending cash market trading hours
On the Newsquawk feed at , 20 minutes before this page.
Cochin Shipyard (COCHINSHIP IS) - Co. has received orders to build over 40 ships from the US, Germany, Norway and other countries, according to India's Shipping Minister. (Economic Times)
IRB Infrastructure Developers (IRB IS) - Co. September toll revenue rose 24.1% Y/Y to INR 7.73bln. (Moneycontrol)
ITC (ITC IS) - GQG Partners Emerging Markets Equity Fund sold 365.1mln shares in the Co. worth approximately INR 93.95bln at INR 257.35/shr through block deals, with Fidelity, ICICI Prudential Mutual Fund and SBI Mutual Fund among the buyers. (Economic Times)
JSW Steel (JSTL IS) - Co. Q2 consolidated crude steel production rose 5% Y/Y to 7.27mln tonnes, while India operations production rose 5% Y/Y to 7.07mln tonnes. (Moneycontrol)
KEC International (KECI IS) - Co. secured orders worth INR 10.3bln across transmission and distribution, renewables, and cables and conductors businesses, taking YTD order intake above INR 86bln. (Moneycontrol)
Lupin (LPC IS) - Co. received US FDA approval for its Abbreviated New Drug Application for Phytonadione Injectable Emulsion USP, 1mg/0.5mL, in a single-dose prefilled syringe. (Moneycontrol)
NCC (NJCC IS) - Co. received a Letter of Acceptance for an INR 12.86bln contract from Hyderabad Growth Corridor to construct Radial Road-2 from the Outer Ring Road near Budwel to Nacharam on NH-167N. (Moneycontrol)
Tata Consultancy Services (TCS IS) - Co. Q2 (INR) net rose 7.6% Y/Y to 138.84bln, rev. rose 11.2% Y/Y to 731.88bln, declared a second interim dividend of INR 12/shr for FY27. (Moneycontrol)
Waaree Renewable Technologies (WAAREERT IS) - Co. received a Letter of Acceptance from a PSU for turnkey EPC work on a 5MWp grid-connected solar PV project, including 10 years of operation and maintenance services. (Moneycontrol)
Tech
Infosys (INFO IS) and Wipro (WPRO IS) ADRs fell nearly 3% in US trading amid renewed concerns over the Indian IT sector following TCS earnings and a widening US crackdown on employment-based immigration programmes. (Economic Times)
Context
TCS customarily opens the Indian IT earnings season, and its print has historically set the tone for the peer set: Infosys, Wipro and HCL Tech have tended to trade as a block off the TCS read rather than on their own idiosyncrasies, with US-listed ADRs reacting first and the domestic names following at the open. The distinction that matters in these releases is between reported rupee growth and the constant-currency, deal-TCV and margin detail underneath, since discretionary spending commentary and guidance language have driven the sector more than the headline numbers in past cycles. The ADR weakness flagged alongside the results follows the established pattern where a soft read from the bellwether transmits across the whole offshore cohort within hours. The added wrinkle is the US immigration crackdown angle, which bears on the sector's onshore delivery cost model; episodes of visa restriction rhetoric have previously pressured the group even when earnings were firm. Worth watching are the peer results due through the season, the management's tone on discretionary demand, and whether the block trade in ITC and the infrastructure order flow elsewhere in the wrap hold attention or get swamped by the IT tape.
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