TCS Q2 results today: Anil Singhvi expects IT heavyweight to set market and earnings season mood

As the second quarter of the financial year 2021-22 earning season begins with Tata Consultancy Services (TCS) on Friday, Zee Business Managing Editor Anil Singhvi expects the information and technology heavyweight would set the market as well as results' season mood going forward.

Singhvi expects that TCS results will be good and he doesn’t find any reason that the company’s number will be weak as the IT major along with other Indian IT companies has a good global presence.

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In its preview, Zee Business expects the dollar revenue growth to be at 3.45 per cent.

The Managing Editor believes the two sectors IT and BFSI (Banking, financial services and insurance) would report good sets of numbers in the second quarter of FY22.

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He said it is the banks that will likely be impacted the most.  Even if RBI releases lower than expected policy rates, IT companies have nothing to worry and rather IT will lead the market rally, he said.

The Indian IT bellwether is expected to post an average 4.22 per cent revenue growth in constant currency (CC), according to estimates by five brokerages. The revenue growth for TCS will be offset by currency headwinds of 60bps, at least two brokerages have maintained in their reports.

The highest revenue growth forecast is by PhillipCapital (5.2 per cent) followed by Nirmal Bang (4.5 per cent) and IDBI capital (4.1 per cent). HDFC Securities and Motilal Oswal estimate revenue growth at 3.6 per cent and 3.7 percent respectively.

Motilal Oswal expects IT sector Tier-1 USD revenues to grow at an average 4 per cent rate for Q2FY22, with TCS remaining a laggard and behind arch rivals Infosys (4.9 per cent) and Wipro (6.3 per cent) and ahead of HCL Technologies and Tech Mahindra.