Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tata-consultancy-services-limited" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Services (TCS IN)</a> is set to report Q2 FY 2027 results on Thursday, 8 October 2026. Consensus forecasts point to revenue growth of about 10% year on year.</li>
<li>Post-Earnings share-price moves have averaged 2.5% in absolute terms across the past 27 quarterly reports, with occasional moves exceeding 6%.</li>
<li>October options imply a move of approximately 4.5%. Buyers must contend with an expected drop in implied volatility after the announcement.</li>
</ul>



Tata Consultancy Services (TCS IN) is set to report Q2 FY 2027 results on Thursday, 8 October 2026. Consensus forecasts point to revenue growth of about 10% year on year.
Post-Earnings share-price moves have averaged 2.5% in absolute terms across the past 27 quarterly reports, with occasional moves exceeding 6%.
October options imply a move of approximately 4.5%. Buyers must contend with an expected drop in implied volatility after the announcement.


Tata Consultancy Services (TCS IN): October Options Price a 4.5% Earnings Move

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a> raised about US$2.4bn in its India IPO.</li>
<li>NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.</li>
<li>We have looked at the company’s past performance and valuations in our previous note. In this note, we will talk about the trading dynamics.</li>
</ul>



National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO.
NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.
We have looked at the company’s past performance and valuations in our previous note. In this note, we will talk about the trading dynamics.


Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Infosys: Infosys delivered strong Q1FY26 performance, delivering market-leading sequential growth of 2.6% QoQ (organic ~2.2%) and 3.8% YoY in CC terms</li><li>This robust start was accompanied by a large deal TCV of USD 3.8bn, with a notable 55% being net new deals and over USD 1bn in TCV originating from multiple vendor consolidation deals</li><li>A key enabler of this differentiated performance is Infosys's leadership in enterprise AI, driving faster decisions and operational efficiencies</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys: Infosys delivered strong Q1FY26 performance, delivering market-leading sequential growth of 2.6% QoQ (organic ~2.2%) and 3.8% YoY in CC termsThis robust start was accompanied by a large deal TCV of USD 3.8bn, with a notable 55% being net new deals and over USD 1bn in TCV originating from multiple vendor consolidation dealsA key enabler of this differentiated performance is Infosys's leadership in enterprise AI, driving faster decisions and operational efficienciesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Infosys, Dr Reddy’s Laboratories, Persistent Systems...

<ul><li>The IT sector is expected to post mixed revenue growth in Q1, with tier-1 reporting muted CC revenue growth while mid-tier is expected to deliver strong growth</li><li>There is a huge cross-currency tailwind in the quarter which will result in strong USD growth QoQ</li><li>The companies will maintain their full-year FY26E guidance amid the ongoing global economic uncertainty</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The IT sector is expected to post mixed revenue growth in Q1, with tier-1 reporting muted CC revenue growth while mid-tier is expected to deliver strong growthThere is a huge cross-currency tailwind in the quarter which will result in strong USD growth QoQThe companies will maintain their full-year FY26E guidance amid the ongoing global economic uncertaintyContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT Sector (Q1FY26E Results Preview): Resilience Amidst Challenges

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Generative AI (GenAI) and Agentic AI are ushering in unprecedented productivity gains, projecting a 10-50% efficiency boost in Software Development Life Cycle especially for Application Development and Maintenance (ADM).</li>
<li>A projected ~40% efficiency gain from enterprise-wide GenAI Copilot implementation places approximately 10-15% of current IT services revenues at risk. </li>
<li>Though success hinges on the ability to transition GenAI solutions from pilot projects to scaled production deployments, emphasising IP-led innovation and new value creation over mere cost optimisation. </li>
</ul>


Generative AI (GenAI) and Agentic AI are ushering in unprecedented productivity gains, projecting a 10-50% efficiency boost in Software Development Life Cycle especially for Application Development and Maintenance (ADM).
A projected ~40% efficiency gain from enterprise-wide GenAI Copilot implementation places approximately 10-15% of current IT services revenues at risk. 
Though success hinges on the ability to transition GenAI solutions from pilot projects to scaled production deployments, emphasising IP-led innovation and new value creation over mere cost optimisation. 


Thematic Report: AI's Productivity Gains; Quantifying Revenue Risk for Indian IT

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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Infosys Ltd (INFO IN)

Tata Consultancy Services (TCS IN): October Options Price a 4.5% Earnings Move

TCS’s 8 October results put its October options in focus: the term structure implies a 4.5% move, roughly twice the average reaction to its past 27...

Gaudenz Schneider

Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

HSIE Results Daily: Infosys, Dr Reddy’s Laboratories, Persistent Systems...

Infosys: Infosys delivered strong Q1FY26 performance, delivering market-leading sequential growth of 2.6% QoQ (organic ~2.2%) and 3.8% YoY in CC terms

HDFC Securities

IT Sector (Q1FY26E Results Preview): Resilience Amidst Challenges

The IT sector is expected to post mixed revenue growth in Q1, with tier-1 reporting muted CC revenue growth while mid-tier is expected to deliver...

HDFC Securities

Thematic Report: AI's Productivity Gains; Quantifying Revenue Risk for Indian IT

Generative AI and Agentic AI are revolutionizing productivity in software development, with potential efficiency gains of 10-50% in the SDLC.

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tata Consultancy Services (TCS IN): October Options Price a 4.5% Earnings Move

TCS’s 8 October results put its October options in focus: the term structure implies a 4.5% move, roughly twice the average reaction to its past 27...

Gaudenz Schneider

Aequtias: NSE IPO Trading - Weakish Demand Probably Flattish Debut

National Stock Exchange (NSEIN IN) raised about US$2.4bn in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

HSIE Results Daily: Infosys, Dr Reddy’s Laboratories, Persistent Systems...

Infosys: Infosys delivered strong Q1FY26 performance, delivering market-leading sequential growth of 2.6% QoQ (organic ~2.2%) and 3.8% YoY in CC terms

HDFC Securities

IT Sector (Q1FY26E Results Preview): Resilience Amidst Challenges

The IT sector is expected to post mixed revenue growth in Q1, with tier-1 reporting muted CC revenue growth while mid-tier is expected to deliver...

HDFC Securities

Thematic Report: AI's Productivity Gains; Quantifying Revenue Risk for Indian IT

​Generative AI and Agentic AI are revolutionizing productivity in software development, with potential efficiency gains of 10-50% in the SDLC.

Nimish Maheshwari

Generative AI and Agentic AI are revolutionizing productivity in software development, with potential efficiency gains of 10-50% in the SDLC.