Today, July 16, is scheduled for the announcement of first quarter financial results (Q1FY27) for a number of companies, including Wipro, Jio Financial Services, Bharat Heavy Electricals (BHEL), Tech Mahindra, ITC Hotels, Ceat, and Polycab India.
Today, July 16, is scheduled for the announcement of first quarter financial results (Q1FY27) for a number of companies, including Wipro, Jio Financial Services, Bharat Heavy Electricals (BHEL), Tech Mahindra, ITC Hotels, Ceat, and Polycab India.
In addition to those listed, firms such as Piramal Finance, South Indian Bank, WeWork India Management, Sampark India Logistics, Nelco, and Muthoot Capital Services will also present their reports today. These companies are ready to disclose their profits for the period from April to June.
The IT services company Wipro will announce its first quarter results for the fiscal year 2026-27 (Q1FY27) on Thursday, July 16, after market close (after 3:30 PM). According to documentation submitted to the stock exchange, the company's board of directors may consider paying an interim dividend to shareholders.
Brokers expect Wipro's revenue in this quarter to grow at a moderate pace. Meanwhile, margins are likely to remain under pressure due to rising wages, deal delays, and ongoing investments in artificial intelligence (AI).
According to a Business Standard report, ICICI Securities forecasts a 0.4% decline in Wipro's IT services revenue compared to the previous quarter (Q-o-Q) in constant currency (CC) and a 1.3% Q-o-Q decline in organic US dollars. Nevertheless, growth is expected to be supported by the launch of the $1 billion Olam deal, which is set for eight years and should help the retail segment. An additional contribution of about 0.8% is also anticipated from the consolidation of Mindsprint and Alpha Net Consulting over 1.5 months, as well as healthy revenue growth from the Harman acquisition, which should strengthen the technology and communications vertical.
The public sector bank Union Bank of India reported a 29.5% year-on-year increase in net profit for the quarter ending April-June. This profit amounted to 5,332 crore rupees compared to 4,116 crore rupees in the same period last year. The growth was attributed to a confident increase in core income and a reduction in operating expenses.
The bank's Net Interest Income (NII) increased by 10.1% year-on-year, reaching 10,037 crore rupees in the first quarter of FY2026-27, compared to 9,113 crore rupees the previous year. The Net Interest Margin (NIM) improved to 2.80% from 2.76% in the quarter a year ago. Non-interest income grew by 2.6% year-on-year to 4,603 crore rupees for the June quarter, whereas it was 4,486 crore rupees the previous year. However, this figure decreased by 15% compared to the 5,412 crore rupees reported in the March quarter.
The benchmark BSE Sensex index rose by 235 points, or 0.30%, reaching 77,419 around 9:20 AM on Thursday. Most Asian markets traded lower during the morning session, reflecting the overnight fall in global semiconductor stocks and heightened geopolitical tensions in the Middle East. Japan's Nikkei 225 and South Korea's Kospi fell by 3.24% and 7.3%, respectively.
Union Minister of Communications Jyotiraditya Scindia announced on Tuesday that India Post (Department of Posts) recorded its highest ever revenue in the first quarter of the 2027 financial year, amounting to 4,008 crore rupees. This figure reflects a growth of 22.2 percent compared to the same period last year.
According to Scindia, for the first time in history, India Post's quarterly turnover exceeded the mark of 4,000 crore rupees. Although the department reached 81 percent of the planned target of 4,951 crore rupees for this quarter, the overall annual target is 19,803 crore rupees.
Overall, the best-performing postal circles were Andhra Pradesh, Chhattisgarh, and West Bengal. Among the six business verticals—postal services, parcels, life insurance (postal and rural), Postal Savings Bank (POSB), International Relations and Global Business (IR&GB), and Citizen Centric Services (CCS)—CCS demonstrated the highest year-on-year growth, showing an increase of 86 percent. This was followed by parcels (50 percent), postal services (42 percent), IR&GB (34 percent), PLI/RPLI (20 percent), and POSB (10 percent).
Outlining the department's strategic priorities for the coming quarters, Scindia identified three key areas of work. These include strengthening logistics and international business; expanding business opportunities through MSMEs, the 'One District One Product' scheme, tourism, and agriculture; and deepening citizen-centric services, financial inclusion, insurance, and rural logistics.
Scindia proposed implementing a cluster approach, grouping states into three clusters, each focusing on specific priority areas to ensure targeted intervention measures and knowledge sharing. He noted that the parcel, postal service, and IR&GB verticals require special attention in the near future, instructing the postal circles to intensify customer acquisition, strengthen institutional partnerships, and improve execution through regular monitoring.
The public sector bank Indian Bank, based in Chennai, announced a 10% increase in net profit for the first quarter of the current fiscal year, reaching INR 3,273 crore. In the same quarter of the previous fiscal year, the profit was INR 2,973 crore.
According to the report submitted to the regulator, the bank's total income for the June quarter of 2026-27 increased to INR 20,724 crore compared to INR 18,721 crore in the corresponding period of FY 26. Interest income also improved, amounting to INR 18,090 crore versus INR 16,283 crore a year earlier.
Net Interest Income (NII) grew by 17%, reaching INR 7,435 crore compared to INR 6,359 crore in the June quarter of FY 26. Furthermore, the bank's operating profit rose to INR 5,557 crore from INR 4,770 crore recorded in the same quarter last year.
The bank demonstrated an improvement in asset quality: Gross Non-Performing Assets (NPA) decreased to 1.86% of total loans by the end of June, down from 3.01% a year earlier. Similarly, Net NPAs, or bad loans, reduced to 0.15% compared to 0.18% in the previous year.
As a result of these changes, provisions for bad loans were reduced to INR 376 crore in the first quarter, down from INR 387 crore a year ago. The Provision Coverage Ratio (PCR) remained unchanged at 98.2% during the quarter.
The Return on Assets (ROA) improved to 1.34% for June 2026, whereas it was 1.03% in June 2025. Meanwhile, the bank's capital adequacy ratio decreased to 17.80% from 17.99% in the same quarter of FY 26.
Several companies are scheduled to announce their first quarter financial results for the fiscal year 2026-27 (Q1FY27) on Thursday, July 9, 2026. Among them are Tata Consultancy Services (TCS), Anand Rathi Wealth, and GM Breweries.
In addition to those listed, firms such as Eimco Elecon (India), Arunjyoti Bio Ventures, Cupid Breweries and Distilleries, and Gujarat Hotels will also present their reports today. The list also includes Sidh Automobiles and Supreme Infrastructure India.
Tata Consultancy Services (TCS), India's largest IT services company, will publish its results for the June quarter (Q1FY27) on Thursday, July 9, 2026, after market close, i.e., after 15:30. The company may also announce an interim dividend for shareholders. The record date for determining eligible shareholders is set for July 15, 2026.
According to TCS regulatory documentation, the interim dividend, if declared, will be paid to ordinary shareholders whose names appear in the Company's Register of Members or in the records of the depositaries as beneficial owners of shares on the record date, which is set for Wednesday, July 15, 2026.
According to a Business Standard report, brokers believe that the IT sector continues to face numerous negative factors, making recovery uncertain. The start of Q1FY27 was slower than expected. Although the weakening rupee should provide some margin protection, concerns about AI-induced deflation have led to an overall decline in valuations across the sector.
Furthermore, according to Motilal Oswal Financial Services (MOFSL), demand commentary is likely to remain weak in Q1FY27. This is because macroeconomic uncertainty, AI-related disruptions, and geopolitical pressure continue to affect discretionary spending and decision-making cycles. Regarding TCS, the brokerage firm forecasts a sharp decline in margins in the June quarter due to annual salary hikes, while revenue in constant currency (CC) is likely to remain stable quarter-on-quarter.
The GIFT Nifty signaled a positive start for Nifty50 on Thursday amid mixed global cues. Futures traded at 23,988.50, showing a rise of 78 points.
Asian markets showed gains as semiconductor stocks rose, while investors assessed the renewed tensions between the US and Iran. South Korea's Kospi rose by 2.3 percent, and the Hong Kong Hang Seng index fell by 0.37 percent.
Overnight, the Dow Jones and S&P 500 indices fell by 1.09 percent and 0.28 percent, respectively, while the Nasdaq Composite increased by 0.2 percent. Crude oil prices continued to rise after the US struck Iran for the second consecutive day, raising concerns about supplies through the strategically important Strait of Hormuz.
