Other key companies scheduled to report their earnings include Shriram Finance, ACC, Bank of Baroda, Bank of India, Shakti Pumps, Concor, CreditAccess Grameen, Jindal Steel, Kfin Technologies, Jindal Hotels, Laurus Labs, Lodha Developers, SBI Cards, SAIL, Ramkrishna Forgings, Welspun Corp and Sterlite Technologies.
Today, the market is reacting to IT major Infosys’ Q1 results. Shares dropped 3% after a host of global brokerages issued bearish calls on the stock after the company trimmed the upper end of its revenue growth guidance to 1.5%-3% in constant currency, while maintaining its operating margin outlook at 20-22%.
Meesho dropped as much as 5%to their day’s low of Rs 181.30 on Friday after announcing that it expects on-year growth in net merchandise value (NMV) to dip in the July-September quarter, and plans to increase spending on acquiring new users as it builds up to the festive season.
Market outlook
Wall Street major Goldman Sachs sees the Nifty 50 rebounding to 26,500 by June 2027, a level above its current record high of 26,373, as it turns more constructive on India following an improvement in the recent macro backdrop.
The brokerage said lower commodity prices, a stabilised currency, resilient domestic growth, healthy second-quarter earnings expectations and the potential recovery in select domestic sectors have improved the outlook for Indian equities.Goldman Sachs expects a shift in market leadership in the second half of the year, with investors rotating from growth stocks to value plays. The brokerage said valuation de-rating weighed on market returns in the first half amid concerns over an economic slowdown, while growth stocks outperformed because of the scarcity of earnings.Looking ahead, it expects investors to increasingly favour reasonably valued segments as expectations of an economic recovery improve. Goldman Sachs also believes that as foreign outflows reverse in the second half, the biggest beneficiaries are likely to be the most-sold and attractively valued pockets of the market, particularly large-cap stocks and banks.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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