TCS, HCL Tech to kick-off Q1 earnings season on July 12; Infosys results on July 20

Indian IT companies, including TCS, HCL Technologies, and Infosys, are set to release their earnings for the first quarter of 2023. Despite an uncertain global environment and muted demand, Jefferies expects a small decline in aggregate revenue and a contraction in margins. They anticipate Infosys may lower its guidance, while TCS could announce a buyback. Motilal Oswal predicts a modest year-on-year revenue growth but a drop in profit. Analysts also speculate that Infosys and HCL Technologies may revise their sales growth outlook for FY24 due to weak earnings.

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