earnings season

Be careful about chasing IT stocks from here on

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Be careful about chasing IT stocks from here on

IT stocks are slightly in the overvalued territory and I will be very careful in chasing these stocks from here on, says Sridhar Sivaram, Investment Director, Enam Holdings. Among the top four IT names, TCS has a PE multiple of 25-26 times, Infosys north of 20, Tech Mahindra, Wipro are in the late teens. If … Read more

SAIL discloses Covid-19 impact on financials at Rs 771.76 crore due to fall in net realisations

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SAIL discloses Covid-19 impact on financials at Rs 771.76 crore due to fall in net realisations

Mumbai: State-owned steel manufacturer, Steel Authority of India (SAIL) has said that the impact of Covid-19 in the financial results of FY 2020 was Rs 771.76 crore on account of fall in the net realisable value of inventories. “Operating plants at sub-optimal levels, lack of domestic demand for steel in the country, and un-remunerative prices … Read more