The Indian stock market witnessed healthy buying in the morning trade on Tuesday, March 10. (An AI-generated image)Q4 results 2026: The earnings season has finally begun, with Tata Consultancy Services among the first companies to declare their financial results for the quarter ending on March 31, 2026.
Wipro, HDFC Bank, ICICI Bank, Yes Bank, and ICICI Prudential Life Insurance are among the marquee companies to declare Q4 results next week.
“The Q4 earnings season gathers pace this week, and the market’s focus is clearly shifting from headline numbers to forward guidance. Management commentary on demand visibility, margin sustainability, and structural themes such as AI-led disruption will be critical in shaping sectoral trends. Banking and financials, led by heavyweights such as HDFC Bank and ICICI Bank, will remain central to index direction, while IT stocks like Wipro could continue to face pressure amid global demand uncertainties,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Indian equity markets witnessed a volatile week, led by a cautious undertone. Although the indices staged a recovery to end slightly higher, the overall movement was characterised by sharp fluctuations and phases of consolidation, which capped momentum.
Both benchmark indices, the Nifty and Sensex, rose about 6%, ending the week near their highs at 24,050.60 and 77,550.25, respectively.
According to brokerage firm Motilal Oswal, the IT giant Wipro is likely to report 1% CC growth, driven by a two-month inorganic contribution from the Harman acquisition, while organic growth may decline 0.5% QoQ in 4Q.
“BFSI and healthcare should remain stable, while Consumer and EMR stay impacted by tariff uncertainty and delayed decisions. Some large deals have seen slower ramp-ups, weighing on growth,” the firm said.
The brokerage firm further said that the margins are expected to contract 50bp QoQ to 16.0%, due to Harman DTS dilution, potential wage hikes, and slower growth.
The brokerage firm expects HDFC Bank to post 3.8% quarter-to-quarter (QoQ) growth in advances, led by corporate, BB, and gold; expect strong deposit growth of 5.5% QoQ.
“NIMs to remain flat, with repo repricing offset by CRR cut benefits and TD repricing. Cost ratios and opex to decline QoQ marginally. Absence of seasonal stress to keep credit costs under control at 42bp,” the firm said.
Brokerage firm Kotak Institutional Equities expects ICICI Bank's NIMs to remain flat, with repo repricing offset by CRR cut benefits and TD repricing. Cost ratios and opex to decline QoQ marginally. Absence of seasonal stress to keep credit costs under control at 42bp.
“We are building in NIM to decline ~<10 bps qoq at 4.1% (KIE calc.); reported NIM would be higher than our estimates, partly due to higher competitive environment,” it said.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.