Reliance Industries (RIL) and Tata Consultancy Services (TCS) were trading firm in afternoon deals ahead of their financial results for the quarter ended September 2011 (Q2).
RIL was trading higher by 2% at Rs 863 on the Bombay Stock Exchange (BSE) at 1356 hours. India’s largest company is scheduled to declare its Q2 results on Saturday, October 15, 2011.
Angel Broking expects RIL's top line to grow by 42% on the back of a rise in prices of petrochemical products. The company's bottom line is expected to increase by 19% year-on-year.
TCS has moved higher by 4% at Rs 1,129. The country’s largest IT exporter will declare its quarterly results on Monday, October 17, 2011.
Prabhudas Liladher expects TCS to report 5.8% volume growth, with touch positive bias of 0.2% on the pricing front. The EBITDA margin is expected to expand by 88bps due to currency depreciation, but offsetted by spill-over wage hike. The broking house expects the management to give positive commentary on client spending and visibility on realization improvement.
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