Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M … Read more
“The excesses were created on Monday because of the exit poll getting it all wrong and people leveraging in PSUs and so on of defence. I always held the view that defence and railways were overpriced to 2027 level and PSU selective are very-very frothy,” says Sanjiv Bhasin, Director, IIFL Securities.Real slam dunk for the … Read more
Mumbai: Shares of Tech Mahindra jumped 7.6% as optimism around the company’s three-year growth roadmap outshone concerns over near-term profitability as reflected in the fourth-quarter results, which missed analyst estimates. The stock closed at ₹1,280 and emerged as the top gainer in Nifty on Friday, but the average share price targets mostly suggest limited upside … Read more
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies. Other big players across sectors, like HUL, Indian Hotels, OFSS, … Read more
“The Nifty IT sector has faced downward pressure for the past few days. However, stalwarts like TCS and HCL Tech exhibit resilience on longer-term charts, suggesting potential buying opportunities amid corrections. We remain watchful of Nifty IT’s ability to hold the 100-day moving average; sustaining above it could signal further buying interest,” says Rajesh Palviya … Read more
After a decent set of results from IT heavyweights TCS, Infosys and HCL Tech, investors are eagerly awaiting the quarterly numbers from Tech Mahindra, which will report its earnings today. However, the expectations from the company seem to be modest for the third quarter.Tech Mahindra may report sequential decline in overall revenue and constant currency … Read more
In between hectic trading days, equity investors will have room for small breathers with four long weekends scheduled in the first three months of the current calendar year. In January, exchanges will remain closed on January 26 on account of Republic Day, which is falling on Friday. Hence, there will be three consecutive days off … Read more
HCL Technologies, part of the Indian IT sector, managed to climb all walls of worries to give a breakout from a rounding bottom formation on the daily charts and hit a fresh record high which has opened room for the stock to head into uncharted territory. Short-term investors can look to buy the stock now … Read more
Sanjiv Bhasin, Director, IIFL Securities, says “IOC, HPCL, BPCL are still looking strong. It is the whole basket of PSUs which are duly getting their recognition after many, many years. I am very optimistic that some of them will still have more steam. And that is why the PSU basket or the CPSE ETF – … Read more
NEW DELHI: The September quarter earnings of IT services majors Tata Consultancy Services (TCS), Infosys, and HCL Tech have left analysts upbeat on margins, and deal wins but discretionary demand played spoilsport. TCS reported an EBIT margin of 24.3%, Infosys 21.2%, and HCL Tech 18.5%. Domestic brokerage firm Kotak Institutional Equities said the figures were … Read more