1:30 pm Result poll:
With results for Infosys and TCS out of the way, all eyes will be on the
country’s third-largest IT services exporter Wipro when it reports quarterly
earnings Friday. A poll of analysts forecasts the firm’s dollar revenues to
grow 0.76 percent to USD 1785 million while revenue in rupee terms may rise
1.35 percent to Rs 11,070 crore. Operating profits are seen at Rs 2,431 crore
while EBIT margin is seen unchanged at 22 percent. Analysts will also likely
watch out for guidance the company gives for the fourth quarter, likely to come
in at 1-3 percent or 2-4 percent – crucial because weakness in Wipro’s
strongest vertical, energy (17 percent of revenues) may bog down revenue
growth.
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The market is still flat as the Sensex is up 48.25 points at
28123.80. The Nifty is up 13.90 points at 8508.05. About 1361 shares have
advanced, 1341 shares declined, and 313 shares are unchanged.
Coal India, L&T, Sesa Sterlite, M&M and BHEL are top
gainers in the Sensex while Bharti Airtel, SBI, Tata Motors, Hero Motocorp and
TCS are among the laggards.
Brent futures edged higher holding above USD 48 a barrel on
positive technical price momentum, although few analysts expect a strong
rebound anytime soon as global output continues to outweigh demand.
Still, crude markets may be bottoming out, analysts said, as
prices were receiving support around current levels.
Despite the slight price gains, oil opened up into a wobbly
market after Switzerland jolted markets already roiled by plunging commodities
prices by abandoning its currency cap on Thursday. More information please
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