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Informist, Tuesday, Jul. 22, 2025

By Gopika Balasubramanium

MUMBAI – India's headline indices are likely to open flat on Wednesday and move in a range. Analysts said there have been not much positive surprises on the earnings front and, hence, the indices have not risen as much. There has been no significant development on India-US trade deal even as the new Aug. 1 deadline is near. Information technology will be on focus as Infosys and its three mid-cap peers--Coforge, Persistent Sytems, Oracle Financial Services Software--are scheduled to report their June quater earnings on Wednesday. Large-caps such as Dr. Reddy's Laboratories and Tata Consumer Products will also declare their results. 

"Nifty will open flat and will be in range," said Kshitija Salvi, technical analyst at IDBI Capital Markets & Securities. She expects Nifty 50 to move in a range of 24800-25200 points. Meanwhile, Jigar Patel, a technical analyst at Anand Rathi Share and Stock Brokers, said he expects the 50-stock index to be positive throughout the session and he expects the index to find support at 25000 points and face resistance at 25300 points. 

On Tuesday, the Nifty 50 closed at 25060.90, down 29.80 points or 0.1%. Three Nifty 50 constituents--Mahindra & Mahindra, ICICI Bank, and Eternal hit their historical highs. The BSE Sensex closed largely flat at 82186.81 points, down 13.53 points.

Information technology stocks will be in focus on Wednesday as four of the 10 constituents of Nifty IT sectoral index are scheduled to detail their June quarter earnings. Analysts expect the sectoral index to be under selling pressure as they do not expect any surprises from Wednesday's earnings as macroeconomic environment was unfavourable across board. Salvi of IDBI Capital expects the index to find support at 36400-36500 points and face resistance at 37100-37200 points. 

Infosys, which alone has about 29% weightage in the Nifty IT index, is expected to report a muted sequential growth in its top line for the latest quarter and its bottom line is likely to fall. On other hand, brokerages are bullish on the company's business operations as there was strong demand in the banking, financial services, and insurance segment. This segment accounts for more than 28% of Infosys' top line. The stock is expected to move in a range of INR 1,550-INR 1,600 ahead of its earnings. 

Meanwhile, ramp-up of deals won in previous quarters, contributions from recent acquisitions along with continued better organic growth, and healthy demand in the banking and financial services vertical will likely help Coforge outperform its peers in the IT pack. The company's bottom line is expected to rise at its fastest pace in three quarters due to a fall in expenses. The stock is expected to move between INR 1,835 and INR 1,600. Meanwhile, Oracle Financial Services will see a slight sequential decline in its bottom line, but sales will likely grow in mid-single digit. Shares of the company will likely move in a range of INR 8,635-INR 8,885. 

Continued traction in BFSI and hi-tech verticals, along with a ramp-up of deals are expected to drive Persistent Systems' top line for the June quarter. However, this is expected to be partially offset by softness in the healthcare vertical. The stock will likely trade between INR 5,680 and INR 5,935.   End

Edited by Akul Nishant Akhoury

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