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I think there is very little upside, and risks are more to the downside than to the upside from current levels. In our view, there is stress in the vehicle finance portfolio, both from a growth as well as from an asset quality perspective in the near term. And we do believe earnings could be weaker, especially for vehicle finance, NBFCs in the near term, and HDB indeed has a good 50% of the mix exposed to various vehicle segments. So that’s the challenge here. And clearly it looks like there is not much money to be made from current levels based on our fair value assessment of HDB Financial Services, increasing risks to the downside.

Tata Tech shares higher in opening trade, up nearly 3%, as management provides with positive outlook for Q2 and FY26.

What Tata Tech management says:

– Very confident we will not decline in FY26

– Confident that Q2 will be better than Q1 & a strong H2

– Confident of margin trending towards 18% this year & our north star is 20%

Tata Tech shares rose 1% despite weak Q1 on strong management outlook.

CEO Outlook: Optimistic about Q2 recovery and stronger H2; Deal pipeline more robust than last year.

Shares of HCL Technologies declined more than 2% after Q1 earnings.

Shares of HDB Financial Services listed at a premium of 13%, compared to its issue price of ₹740. The stock made a post-listing high of ₹891 on its second-trading day, implying a growth of 20% from its issue price. However, the stock is down 5% from those levels and is back at its issue price.

Shares of HDB Financial Services Ltd. are trading lower on the day of its earnings announcement. The stock is trading below its flat line in the early minutes of the trading session.

Brokerage firm Kotak Institutional Equities has maintained a ‘Sell’ rating on the stock, with a price target of ₹30 per share. The brokerage said that Q1 losses were lower than estimated, driven by better-than-expected volume offtake (7,000 units, largely from the previous quarter’s backlog), an improved gross margins due to the Gen-3 platform shift, a reversal in warranty provisioning, and cost-control initiatives.

Shares of Ola Electric Mobility Ltd., the electric vehicle manufacturer, will remain in focus on Tuesday, July 15, after the company reported its April-June quarter results. Read here

Jefferies has upgraded the stock to “buy” from its earlier rating of “hold”, and raised its price target higher by 30% to ₹1,890 from ₹1,450 earlier. On the flip side, Nuvama has downgraded HCLTech to “hold” from its earlier rating of “buy” and cut its price target to ₹1,630 from ₹1,700 per share.

Analysts having coverage on HCL Technologies Ltd. are divided over the company’s prospects after its June quarter results. While some have upgraded the stock, some have issued downgrades, expecting some near-term downside. Read here

HDB Financial Services, the non-bank lending unit of HDFC Bank, which recently made its stock market debut, will be reporting their first quarterly results later on Tuesday.

Good Morning!

Hello and Welcome to the Live coverage of the important Q1 results today.

Many important names will be reporting their results through the course of the day.

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