Stocks at the highest of the day; margins seem stable, focus on wins

TCS Q2 Results Live Updates: (TCS), India’s largest IT services company, Tata Consultancy Services Ltd. (TCS), will release its quarterly results for the July-September period after market hours on Thursday, October 9. All eyes will be on management’s comments on recent layoffs, the H-1B visa issue and a host of other topics. A CNBC-TV18 poll predicts that TCS will report constant currency revenue growth of 0.2% in the September quarter, compared to the June quarter. If this happens, it will be three quarters from now that TCS has recorded positive revenue growth at constant currency. During the June quarter, TCS reported a 3.3% decline in its constant currency revenue compared to the previous quarter. EBIT margins for the quarter are expected to be stable, despite the impact of the salary revision, which came into effect on September 1, which will be offset by the depreciation of the rupee. Shares have rebounded over the past two sessions from their 52-week low on October 1. Watch this space for all live updates.