Hindalco Industries. Share Price 492.65 03:59 PM | 29 Sep 2023 25.80(5.52%) NTPC. Share Price 245.55 03:59 PM | 29 Sep 2023 8.50(3.58%) Hero MotoCorp. Share Price 3057.25 03:59 PM | 29 Sep 2023 87.25(2.93%) Dr. Reddy’s Laboratories. Share Price 5587.00 03:55 PM | 29 Sep 2023 157.90(2.90%) Divi’s Laboratories. Share Price 3765.15 03:57 PM … Read more
India’s primary strength in the global tech landscape has been its IT services sector. The Indian IT sector faced turbulence with IT companies underperforming in Q4FY23 due to factors such as delayed spending, fears of a global economic slowdown, and revised revenue guidance. But now there are indications of a recovery. The Nifty IT index, … Read more
The market is likely to keep traders on their toes this week with Nifty expected to swing in 19,300-19,700 range. Breakouts from this zone can take the index to 20,000-20,200 on the upside or 19,000-18,800 on the downside, according to technical analysts. ACC, Sun Pharma, TCS, Tech Mahindra, HCL Technologies, Atul, Jubilant Food, IDBI Bank … Read more
Dalal Street investors weren’t expecting any fireworks in IT companies’ first quarter earnings, but the disappointments were worse than anticipated, as growth hit multi-quarter lows. Frontline IT companies have seen their constant currency revenue growth slow down in the last six quarters, and a majority of them reported just single-digit growth in the June quarter. … Read more
“All the stocks are firing up and I had been recommending metal stocks since almost one month so most of them are doing well. And I think it is just the starting because previously also stated that Dollar Index has internationally corrected from 105 levels to almost 100 levels,” says Aditya Arora, Adlytick.When you look … Read more
Following a 27% weekly rally in shares of Sterling & Wilson Renewable Energy last week, Kunal Shah of LKP Securities suggests buying the stock on dips. “The stock has strong support in the Rs 345-340 zone, indicating a potential buying opportunity if the stock retraces to this level. Considering the breakout and support levels, there … 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
Financials and IT – two of the most widely-owned sectors on Dalal Street have shared an inverse relationship over 70% of the time in the last 14 years. An analysis of the performance of Nifty IT and Nifty Bank by global brokerage firm Jefferies shows that since 2010, the two indices tend to generally perform … Read more
Indian IT companies are facing the heat amid an uncertain economic environment accentuated by weak global macros. As fears of economic slowdown have grown leading to delay or cancellation of projects, IT companies are finding it difficult to grow and worse even predict their near term growth trajectory. But this is not the first instance … Read more