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Fifteen companies are set to announce Q3 earnings on Friday, with Just Dial and CESC Ltd expected to show notable growth. Just Dial anticipates a revenue rise of 9% YoY, while CESC predicts a 28% YoY increase in net profit. Investors will focus on management commentary on future profitability and margins.
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Equity indices dropped nearly 1% due to heavy selling in major stocks. TCS fell 1.6%, Tata Elxsi declined 0.4%, and IREDA plummeted 3.4%. Analysts advise against purchasing TCS and Tata Elxsi but recommend buying IREDA with a target price of 245 and a stop loss at 208.
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Tata Consultancy Services reported a modest sequential net profit growth of 3.9% to Rs 12,380 crore in Q3FY25 amidst reduced demand in the US and UK markets and declining discretionary tech spending. Revenue saw a 0.44% decrease, and headcount dropped by 5,370 employees. Despite the downturn, TCS remains hopeful for a better fiscal year ahead.
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