Infosys, HDFC Bank, 3 others Nifty stocks rise ahead of Q2 results

NEW DELHI: Shares of result-bound five Nifty50 companies were trading flat to positive note in Tuesday’s trade. These companies are scheduled to report quarterly earnings later in the day.

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.

Shares of Ambuja Cements advanced 0.75 per cent, while those of Zee Entertainment were trading 0.90 per cent higher. Asian Paints added 1.16 per cent to Rs 1,185.95.