Mumbai: The market capitalisation of , the country’s biggest lender, crossed ₹5 lakh crore on Wednesday for the first time ever. SBI shares, which gained 2.3% on Wednesday to hit an all-time high of ₹574.75, had a market value of ₹5.10 lakh crore. SBI is the third bank in the country to cross ₹5 lakh … Read more
The Indian market recouped some losses on Monday but still fell over 1 per cent. The S&P BSE Sensex plunged more than 800 points, while the Nifty50 managed to hold on to 17,300 levels. Sectorally, selling was seen in IT, banks, metals, finance, and public sector stocks, while buying was visible in FMCG and Oil … Read more
Synopsis Most of the revenues of the Indian IT sector comes from the US, followed by Europe. Hence, we will analyse the impact of the currency on the results of the top 4 IT companies based on market capitalisation — Tata Consultancy Services (TCS), Infosys, HCL Technologies (HCL Tech) and Wipro — both on the … Read more
Mumbai: Analysts expect IT spending in the US to remain mostly resilient in the near term, but advise that investors need not be in a hurry to lap up shares of Indian technology companies despite the recent decline in prices. Though Indian IT companies have reported strong revenue growth in the June quarter, with most … Read more
Indian market started on a strong note on Friday tracking positive global cues. The S&P BSE Sensex rallied over 500 points while the Nifty50 reclaimed 17,000 levels in the first 15-minutes of trade. Sectorally, the rally was seen in metals, realty, auto, capital goods, and power stocks while some selling was visible in the healthcare … Read more
Mumbai: Morgan Stanley said continued headwinds and earnings downgrade cycle in the information technology sector have rendered the risk-reward unfavourable in the near term. The brokerage has downgraded Wipro and while selectively remaining overweight on , and . “Near-term headwinds and lack of catalysts could keep sector performance under pressure,” said Morgan Stanley. The IT … Read more
New Delhi: Brokerages retained their positive outlook on stock even as they slashed earnings estimates for the tech giant following its mixed bag show for the June 2022 quarter. Major international brokerages have cut their EPS estimates for the IT major thanks to the pressure on the margin front. However, their estimates suggest an up … Read more
could report a double-digit year-on-year (YoY) increase in revenues for the quarter ended June 30 on Friday. Despite expectations of a strong quarterly show, the stock has come under selling pressure off late. The scrip fell by a little over 10 per cent in the last three months, data showed. It closed 0.8 per cent … Read more
The BSE Sensex lost about 3,000 points to close at 51,360, whereas the Nifty50 index plunged close to 990 points to settle below the 15,300 mark during the week. Both indices are a little shy of entering the bear zone. According to the market experts, the aggressive rate hikes by the US Federal Reserve and … Read more
As Nifty50 ended May on a negative note, domestic brokerage firm in its latest ‘bulls vs bears’ report has highlighted the valuations of Indian stock markets. Apart from the valuations part, the brokerage has also cherry picked a number of stocks across the sectors, which might outperform in the remaining part of the year. The … Read more