TCS Supplants Infosys as India Options Bellwether on Results
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Tata Consultancy Services Ltd. is supplanting rival Infosys Ltd. as traders’ bellwether for the Indian earnings season, sending the cost of options on the nation’s biggest software company near a three-month high.
While Infosys has traditionally been the first major Indian firm to report quarterly results, TCS is announcing earnings before its competitor on Thursday. That’s spurring traders to shift their wagers, with open interest on TCS options climbing to more than twice the level of Infosys. Implied volatility on the contracts, the key gauge of prices, rose to the highest since Jan. 13 this week.