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IT services major Infosys will kick off the first quarter earnings for FY25, announcing its results on July 18."A meeting of the Board will be held on July 18 to approve and take on record the consolidated financial results and its subsidiaries for the quarter ending June 2024," the company said in a filing.In the recent fourth quarter, the Bengaluru-based company posted a 30% YoY growth in consolidated net profit at Rs 7,969 crore and the revenue from operations in the fourth quarter stood at Rs 37,923 crore, up 1% year-on-year.The software major forecast that its constant currency revenue growth for FY25 will be around 1-3%. Similarly, the company expects operating margins to be anywhere between 20 and 22% in the current fiscal.Infosys clocked a deal value of $4.5 billion in the January-March period, with 44% of it being net new ones. FY24 deal value was the highest ever at $17.7 billion, which the company says will create a robust foundation for growth.

S&P Global Ratings has rated six Tata group companies, including Tata Motors and Tata Steel, on CreditWatch with positive implications. The other entities part of the latest action from S&P include Jaguar Land Rover (JLR), Tata Power, TML Holdings Pte. and ABJA Investment Co Pte.The review, the ratings agency said, is being done to assess whether the potential of support for the group entities from Tata Sons is greater than what the ratings agency previously factored in. This is due to increasing operational and management linkages within the group.Tata Sons has a record of supporting group entities in events of stress. For instance, the group had earlier provided material extraordinary financial support to entities such as Tata Teleservices and Coastal Gujarat Power, an erstwhile subsidiary of Tata Power which has now been merged with Tata Power."We are also undertaking the review because we believe operational integration between Tata Sons and group entities, as well as between group entities, will continue to increase," S&P said.The review will also consider Tata Sons' improving flexibility to provide support, and the group's more balanced cash flow generation. The market value of some of Tata Sons' key holdings has increased significantly over the past few years, in line with a material improvement in their financial performance."Our review will also assess whether the difference in the ratings on Tata Motors and JLR is warranted. This is given the possibility of increasing integration between the two companies," the ratings agency further noted.S&P intends to resolve the CreditWatch in the next six to eight weeks.The global agency could raise the ratings by at least one notch if it finds that the group status of these companies is higher than the current moderately strategic importance. This would depend on S&P's view of operational and management linkages, and the strength of expected group support."We could affirm the ratings on the six companies if our review concludes that the expected support for the entities is not strong enough to warrant a rating uplift," it said.

Nifty ended Friday’s session with a gain of 67 points to form a long-legged Doji-type candle pattern, hinting at chances of a trend reversal next week.Nifty continued to show range-bound action within 23,300-23,500 levels and still there is no early signs of any breakouts on either side. A decisive move above 23,500 levels is likely to open an upside breakout and a slide below 23,300 levels could mean a chance of downside breakout of the range movement in the near term, said Nagaraj Shetti of HDFC Securities.Strong put writing was observed at 23,300 and 23,400 in Nifty. All eyes will be on the 23,500 strike in the upcoming week. Call writers have sizable positions at 23,500 strike and the option activity at this strike will provide cues about Nifty’s upcoming direction, chartists said.The market will remain closed on Monday on account of Bakri-Eid.What should traders do? Here’s what analysts said:Jatin Gedia, SharekhanOn the daily charts we can observe that the Nifty has been consolidating in the broad range of 23,200 – 23,500. The more it consolidates around this level the more likelihood of a breakout in the coming week. It has already been five days and we believe that a trending move is likely to unfold. The hourly momentum indicator has triggered a positive crossover from the equilibrium line suggesting that the consolidation has matured and can resume the next leg of up move.Rupak De, LKP SecuritiesNifty remained within the defined range of 23,300-23,500. The short-term sentiment is likely to remain more or less positive. Support levels are seen at 23,400/23,300, where put writers have built significant positions. A decisive fall below these levels might shift the market balance in favour of the bears. Until then, it’s a buy-on-dips market. On the higher end, a decisive move above 23,500 might lead to a sharp upside in the near term.Ashwin Ramani, SAMCO SecuritiesForeign Portfolio Investors (FPIs) long short ratio moved up further to 46% on 13th June from 41% on 12th June as the FPIs built significant long positions and continued to cover their short positions in the index futures for the fifth consecutive day.Nifty closed above the 23,400 level after failing to close above the same level in the previous three trading sessions.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

To encourage social sector spending, markets regulator Sebi has suggested that the government should allow tax benefits to companies investing in zero coupon zero principal bonds issued by not-for-profit organisations listed at the social stock exchange. Talking to reporters here on Friday, Sebi's Whole Time Member Kamlesh Chandra Varshney said the regulator has already sent a proposal to the finance ministry and is hopeful of getting the approval. "We have given the proposal to the government that corporate entities who invest in ZCZPs should get the benefits of CSR (Corporate Social Responsibility). We are hopeful that the government will soon approve the proposal," Varshney said at an event organised by NSE on SSE here. Moreover, the CBDT has already clarified that investors or donors buying such bonds will get the tax benefits under section 8OG of Income Tax rules, he added. These measures will be pertinent towards inclusive growth of the social sector and will help build trust and expand the donor base for the organisations, he said. The 'zero-coupon, zero-principal' are instruments for donating money to non-profit organizations listed on the SSE. The Social Stock Exchange (SSE) is a novel concept in India and such a bourse is meant to serve private and non-profit sector providers by channelling greater capital to them. The idea was floated by Finance Minister Nirmala Sitharaman in her Union Budget 2019-20 speech. SSE is a separate segment of the existing stock exchanges that bring together social enterprises and donors, facilitates funding and growth of social enterprises and enables mechanisms to ensure robust standards of social impact and financial reporting. At present, 8-9 NPOs are listed on the SSE with a collective fundraising of close to Rs 11 crore and now one NPO is soon going to raise Rs 14 crore alone through the platform, NSE MD and CEO Ashishkumar Chauhan said here. "We believe that SSE has a great future ahead in India as the government is committed to supporting the platform, as this will help in the democratisation of investments," he said. Moreover, Sebi has been taking measures to widen the participation of subscribers at the social stock exchange. In November, the regulator reduced the issue size of ZCZP from Rs 1 crore to Rs 50 lakh. It has also reduced the minimum application size for donors to Rs 10,000 from Rs 2 lakh. Last month, Sebi asked social enterprises, which have registered or mobilised funds through SSE, to submit an 'annual impact report' for the financial year 2023-24 to such bourse by October-end. The annual impact report to SSE captures the qualitative and quantitative aspects of the social impact generated by the social enterprise.