• TCS earnings estimates: For Q1, TCS is projected to post largely flat sequential dollar revenue of around $7.6 billion and a 2% quarter-on-quarter rise in rupee revenue, while EBIT margin is estimated to contract 141 basis points to 23.9% due to annual wage hikes.
• IT sector watchpoints: Street focus remains on total contract value penciled in at $9 billion to $11 billion, demand trends across BFSI and discretionary spending, and updates on the company's $2.3 billion AI revenue run rate.
• Global corporate developments: Microsoft is laying off approximately 6,400 employees to restructure its Xbox division, while Samsung reported preliminary Q2 operating profit of 89.4 trillion won, though its stock declined nearly 6% over labor costs and one-off gains.
• MSCI index rules: MSCI proposed easing eligibility criteria by shortening the monitoring period for shares under the Additional Surveillance Measure framework, which could allow more Indian stocks to enter the MSCI standard index.