As many as 63 companies including quick commerce and food delivery major Eternal, FMCG giant Nestlé India and others are set to announce their results Q1 earnings on Wednesday.
Key earnings to watch also include those of oil marketing companies (OMCs) Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL), as escalating tensions in the Middle East continue to push oil prices higher.
Two Adani Group companies—Adani Green Energy and Adani Power—will be in focus as they announce their Q1 results today. Other prominent companies feature IndusInd Bank, Dr. Reddy's Laboratories, HFCL, UCO Bank, Tata Communications, Waaree Renewable, Smartworks Coworking Spaces, NTPC Green Energy, Oracle Financial Services Software, JSW Energy, and IIFL Finance.
Recently listed Waterways Leisure Tourism, the operator of the Cordelia Cruises brand, is also scheduled to announce its maiden quarterly results as a listed company, alongside Aye Finance and several other firms.
Market reactions to Q1 earnings
The market reacted sharply on Wednesday to Q1 earnings announced a day earlier. Bandhan Bank shares plunged 10% to hit the lower circuit after the private lender cut its return on assets (RoA) guidance, citing an uncertain global macro environment and intensifying competition for deposits.
In contrast, Bajaj Auto and TVS Motor Company shares gained 3-4%, while Mahindra & Mahindra Financial Services surged more than 5% after posting their June quarter results.
Also read | Tata Group stock falls 2% after Q1 net profit jumps 18% to Rs 390 crore
Eternal Q1 preview
Zomato and Blinkit-parent Eternal is expected to report a steady June-quarter performance, with strong growth in quick commerce business likely to remain the main driver even as the food delivery business continues to expand at a slower but profitable pace.
Brokerages expect Eternal to benefit from higher order value in both food delivery and quick commerce. Blinkit is likely to see faster growth, helped by store additions, seasonal demand, IPL-related consumption and inflation-led basket expansion.
Investors will watch Eternal’s commentary on competition intensity in quick commerce, Blinkit’s growth outlook, food delivery gross order value growth and margin trajectory.
Also read | LIVE updates on Q1 results
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
