Four-month-old Ekagrah Rohan Murty has become a millionaire even before learning how to walk on two legs as his grandfather and billionaire NR Narayana Murthy has gifted him 15 lakh Infosys shares worth over Rs 240 crore. Regulatory filings show that 77-year-old Murthy gifted 15 lakh shares or 0.04% stake to his grandson in an … 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
Infosys led Friday’s bloodbath on Dalal Street as the equity market fell like a pack of cards, breaking a four-session record-breaking spree. Infosys shares plunged nearly 10% to the day’s lows of 1,305 following its June quarter earnings on Thursday where it significantly cut its FY24 revenue growth guidance. The last major fall for Infosys … Read more
Even as some of India’s largest IT stocks are trading up to 25% below their 52-week peak levels, bargain hunters obsessed with PE valuation multiples aren’t finding enough reasons to start buying the diamonds lying in dust. The reason why most institutional investors are staying away from IT stocks is not just because of the … Read more
Recession fears have driven analysts to their most bearish on Indian information-technology sector bellwether Infosys Ltd. since uncertainties surrounding Brexit rocked the more than $200 billion sector six years ago. Around one-in-five analysts covering the company rate it a sell, the highest proportion since September 2017, data compiled by Bloomberg show. The stock is down … Read more
Infosys, NTPC and Hindustan Unilever were among the top large-cap stocks fancied by mutual funds in April, while reducing positions in SBI, Axis Bank and ICICI Bank. Overall, in the reporting month, mutual funds sold stocks worth Rs 5,100 crore while FIIs bought Rs 12,400 worth stocks in the secondary market, according to a report … Read more
Infosys shares on Monday hit a 52-week low of Rs 1,185.30 on the NSE as the shares of India’s second-largest IT company tanked 15% on below par Q4 earnings. The Bengaluru-based company missed Street estimates and reported an 8% year-on-year (YoY) growth in its net profit at Rs 6,128 crore, while revenue from operations jumped … Read more
NEW DELHI: Nifty IT, which was the biggest wealth eroder in 2022 with a heavy loss of 26% is now gradually turning out to be the best performing sector. In the last one month, when the benchmark Nifty has been flat, the IT barometer has shot up over 10% to become the No. 1 performer. … Read more
Software major Infosys will announce its earnings for the quarter ending December on January 12, 2023. The board of directors will meet on January 11 and 12 to discuss the same, the company said in an exchange filing. The earnings come at a time when the industry is seeing massive layoffs that have surpassed the … Read more
The Indian markets pared intraday gains on Friday and closed over 1 per cent higher. The S&P BSE Sensex rose nearly 700 points, while the Nifty50 closed just below 17,200. Sectorally, buying was seen in IT, banks, capital goods, and consumer durables, while selling was visible in power, utilities, oil & gas, and energy space. … Read more