Shares of Infosys were trading 0.05 per cent lower at Rs 939.15. Brokerage firm Edelweiss expects Infosys to report 1.40 per cent quarter-on-quarter (QoQ) fall in net profit at Rs 3,434.50 crore in September quarter, compared with Rs 3,483 crore in the June quarter.
“EBITDA margin to contract by 90 basis points QoQ on account of wage hikes during the quarter, partially setoff by operational efficiencies and absence of visa costs,” Edelweiss said in a research note.
Shares of HDFC Bank were trading 0.34 per cent higher at Rs 1,869. HDFC Bank is likely to clock over 20 per cent growth in net profit for the September quarter. The lender is seen reporting healthy loan growth and over 20 per cent growth in net interest income (NII), but is seen reporting flat margins for the quarter.