Business in the Week Ahead:- The earnings season is expected to progress, with other data points like Flash PMIs, US GDP, and Japan’s monetary policy also being monitored.
In March 2024, India’s largest IT services company, Tata Consultancy Services, saw a tepid 2.2% growth in constant currency revenues, while Infosys saw no growth year-on-year.
The week ahead will see the release of results from various companies, including Reliance Industries, Hindustan Unilever, Nestle India, Axis Bank, Maruti Suzuki India, and Tata Consumer Products.
JNK India’s IPO is set to open for subscription. Key data points include flash PMI numbers, US GDP, Bank of Japan and People’s Bank of China interest decisions, and other global events.
Monday – April 22
The board of Vodafone Idea is scheduled to meet on or after April 22 to determine price of the public offer of equity shares.
China Interest Rate Decision: China’s central bank will decide on one-year and five-year loan prime rates. The central bank left the lending rates unchanged in March meeting.
US National Activity Index:Â The Chicago Fed National Activity Index increased to three months high in February, indicating improvement in economic growth. Data for March will be released.
Earnings:- Reliance Industries, Rallis India, Tejas Networks, Aditya Birla Money
Tuesday – April 23
India Flash PMIs: The flash manufacturing and services sector PMIs for April will be updated. Both manufacturing and services PMIs rose in March from earlier month.
Flash PMIs for major countries across the globe including Australia, Japan, Euro Area, UK and US will also be released.
IPO: The IPO of JNK India will open for subscription. The company has set a price band at Rs 395-415 per equity-share for the public issue.
Earnings:- Tata Consumer Products, ICICI Prudential Life Insurance Co, Mahindra & Mahindra Financial Services, Tata Elxsi
Wednesday – April 24
US Durable Goods Orders: New orders for manufactured durable goods increased in February. Data for March will be released.
Earnings:Â Hindustan Unilever, Axis Bank, The Indian Hotels Co, LTIMindtree, Oracle Financial Services Software, Equitas Small Finance Bank.
Thursday – April 25
South Korea GDP: The GDP in South Korea increased by 2.2 percent in December 2023 quarter from the year ago period. Advance estimate for March 2024 quarter will be released.
US GDP, Jobless Claims: The advance GDP estimate for March 2024 quarter will be released. The economy expanded by 3.4 percent in December 2023 quarter. Jobless claims data for the week ending April 20 will also be updated.
Earnings:Â Nestle India, IndusInd Bank, ACC, Bajaj Finance, Tech Mahindra, L&T Technology Services, MphasiS, Laurus Labs, Glenmark Life Sciences, UTI Asset Management Co, Cyient
Friday – April 26
Japan Interest Rate Decision: The Bank of Japan is expected to leave its policy rate unchanged. The central bank raised its short-term interest rate in March.
US Personal Income, Spending: The personal income, spending data for March will be released. Both personal income, spending increased sequentially in February 2024.
Earnings: Maruti Suzuki India, HCL Technologies, Bajaj Finserv, SBI Life Insurance Co, Bajaj Holdings & Investment, Aditya Birla Sun Life AMC
Saturday – April 27
Earnings:– ICICI Bank, IDFC First Bank, Yes Bank, L&T Finance Holdings