December quarter earnings announcement by Infosys, macroeconomic data (forex reserves, Index of Industrial Production and manufacturing output), crude prices and movement in rupee are likely to sway investor sentiment on Friday. This apart, market participants are expected to react to assurances by Federal Reserve Chairman Jerome Powell that the US central bank has the ability to be patient on monetary policy.
At 08:43 am, the Nifty futures on Singapore Exchange (SGX), an early indicator of Nifty50 performance back home, traded 26.50 points or 0.24 per cent higher at 10,887.50.
Here's a look at the top stocks that may remain in focus today -
Infosys: India's second largest IT services company is slated to release its third quarter earnings of FY19 today. Most brokerages expect the company's revenue in constant currency (CC) terms to come in between 1.3-2.2 per cent during the quarter under review. The company will consider share buyback and a special dividend for shareholders as part of its capital allocation policy in the board meeting.
Earnings today: Apart from Infosys, Karnataka Bank, Reliance Industrial Infrastructure, Infomedia Press and TRF are also slated to release their Q3 earnings today.
TCS: Tata Consultancy Services posted its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). This is the first time TCS’s net income has crossed the Rs 8,000-crore mark. The Mumbai-headquartered company’s profit grew 24.1 per cent year on year (YoY) and 2.58 per cent sequentially. However, revenue and operating margins missed consensus estimates narrowly.
Jet Airways: Jet Airways, the airline which had its credit rating cut to default this month, is weighing a resumption of stake-sale talks with the Tata Group as the carrier is poised to run out of cash, Bloomberg reported citing sources.
HFCL: Himachal Futuristic Communications Limited (HFCL) on Thursday won optical fibre cable (OFC) orders worth over Rs 500 crore for BharatNet Phase –II Project from Larsen & Toubro (L&T) and a consortium led by ITI.