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Informist, Thursday, Jul. 10, 2025

By Akash Mandal

MUMBAI – Benchmark indices may open on a subdued note Friday, with Tata Consultancy Services likely playing a key role in deciding the market direction for the day. Investors also await news on the trade deal between India and the US. The Nifty 50 is seen moving in a range of 25200-25550 points. 

TCS reported a 4% sequential growth in net profit at INR 127.60 billion in the June quarter, beating the Street's view of INR 121.79 billion by a considerable margin. While the bottom line surprised, the company's revenues for the quarter were lacklustre, falling 2% sequentially to INR 634.37 billion.

"We might see a knee-jerk reaction like a 2-3% fall initially, but it will normalise over time," Rishubh Vasa, research analyst at IndSec Securities, said. "The results visibly showed that demand has slowed down as revenue has fallen, key segments have underperformed, and EBIT has fallen... however, deal wins have been higher than expected, and the company has managed to maintain its margins despite a tough environment," Vasa said. He also said that while the stock may open lower, the fall may be capped if the management commentary is positive.

Nagaraj Shetti, senior technical research analyst at HDFC Securities, expects the market to bounce back in the near term. "A long negative candle was formed on the daily chart, which indicates a recent failed attempt at breakout of narrow range movement... Nifty 50 is currently nearing an important support zone of around 25300-25200 levels, and there is a higher probability that one may expect a sharp bounce back from the lower supports in the near term," Shetti said in a note.

Investors will also look out for news related to a trade deal between India and the US, with the Indian delegation again travelling to Washington for another round of talks. While US President Donald Trump has announced finalised tariffs for a host of countries after postponing the tariff deadline to Aug. 1, there have been no concrete announcements regarding India despite Trump teasing multiple times and reports Tuesday claiming a deal between the two nations was "hours away."

The Nifty 50 ended at 25355.25 points, down 120.85 points or 0.5%, and the BSE Sensex closed at 83190.28 points, down 345.80 points or 0.4%. Information technology stocks were among the worst hit ahead of TCS earnings.

Avenue Supermarts is the only Nifty 200 company set to announce its June quarter earnings on Friday. The retail chain, which operates DMart, is expected to report a 7.7% on-year rise in its bottom line to INR 8.8 billion for the quarter, according to the average of estimates by four brokerages. Its revenue is expected to rise 17% on year to INR 160.4 billion.  End

Edited by Saji George Titus

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