Hoping to see a turnaround of fortunes in FY25, foreign institutional investors (FIIs) raised stakes in TCS, Infosys, HCL Tech, Wipro, Coforge and Persistent Systems in the March quarter. But as the macro environment remains uncertain with further challenges in the short run, dollar money is now having second thoughts. In the first fortnight of … Read more
India’s leading private sector bank HDFC Bank will release its fourth quarter numbers today along with a few other companies, closing what was a hectic week of corporate earnings. The numbers were mixed for IT companies as TCS Q4 results beat the estimates, while Infosys struggled with softer FY25 and revenue miss. Other companies which … Read more
Shares of top software services exporter Tata Consultancy Services (TCS) on Monday saw buying action after brokerages raised target prices following a good show in Q4 results where a 100 bps quarter-on-quarter rise in EBIT margin surprised investors. TCS shares today rallied up to 1% to the day’s high at Rs 4,063 on BSE even … Read more
Nifty Bank, which hit a fresh lifetime high above 49,000 last week, has given an average return of 5% during the March quarter earnings season 7 out of 10 times in the last 10 years, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat with James on the market outlook … Read more
After more than a year of slowing sales, India’s software services companies that power corporations ranging from global banks to retailers to planemakers may finally be seeing light at the end of the tunnel. Banks spending more on technology to meet regulatory mandates, companies upgrading SAP systems and a broader increase in technology spending after … Read more
CLSA’s downgrade of Indian IT bellwether Tata Consultancy Services (TCS) and HCL Technologies did not go down well with the investors, triggering a selling spree in most IT stocks. Both TCS and HCL Tech shares fell 2% in Tuesday’s trade. The Hong Kong-based brokerage downgraded TCS to ‘Sell’ for the price target of Rs 3,925 … Read more
Betting that IT stocks could be traversing an inflection point as the growth momentum may bottom out over the next few months and a return to growth over CY24 on the back of easing of several headwinds and new drivers taking over, both FIIs and mutual funds increased their shareholding in most largecaps.MF holding in … Read more
Cipla. Share Price 1409.00 04:03 PM | 23 Jan 2024 92.75(7.05%) Sun Pharmaceutical Industries. Share Price 1378.30 04:03 PM | 23 Jan 2024 52.15(3.94%) Bharti Airtel. Share Price 1158.00 04:03 PM | 23 Jan 2024 34.25(3.05%) ICICI Bank. Share Price 1029.05 04:03 PM | 23 Jan 2024 20.35(2.02%) Hero MotoCorp. Share Price 4444.20 04:03 PM … Read more
A short covering rally in Bank Nifty index hinges on the results of HDFC Bank, given its substantial 30% weightage, says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. “HDFC Bank faces an immediate hurdle at Rs 1680, where its 20-DMA is located. A decisive breakout above this level is crucial for accelerating … Read more
Hemang Jani, Independent Market Expert, says “our overall sense is that though we might see a little bit of sideways movement or a bit of a profit booking, the broad structure of the market remains good. We will have to do a little bit more hard work in terms of what are the pockets of … Read more
