Wipro Ltd have shown improvement in revenue growth. While Infosys Ltd has also showed a sharp uptick in growth rates. Further, HCL Technologies Ltd beat the Street’s expectations.
For the broader Nifty 50 stocks, however, revenues are expected to contract compared to last year. But sequentially should show a better growth rate of about 30-34%.
Earnings before interest, tax, depreciation and amortization is expected to remain flat year-on-year. However, cost savings led margin growth in Q1 may not be much more.The Nifty Bank index is looking up.
Early bird bank results are not showing a high pandemic related stress. HDFC Bank’s Q2 gross non-performing assets have been down to 1.08% from 1.36% in Q1.