US President Donald Trump‘s move to introduce a $100,000 fee for new H-1B visa applications is large enough to make sending Indian software engineers to the US economically unviable for Indian tech companies. While the top five Indian IT firms derive roughly 55% of their revenue from the US, Infosys is estimated to have the … Read more
“Overall sense is that the news developments can turn positive because both auto and steel overall the tariff is still there, but when you look at the news flow, it is possible that US might give some leeway in terms of certain segments for autos talking about China,” says Pankaj Pandey, Head Research, ICICIdirect.com.Let me … Read more
Information technology stocks tumbled up to 6% on Thursday, dragged lower by Wipro’s disappointing earnings and downbeat revenue outlook for the April-to-June quarter, triggering a broad selloff across the sector. Shares of Wipro plunged 5.7% after the company missed fourth-quarter revenue estimates and warned of a 1.5% to 3.5% decline in revenue for the current … Read more
Shares of Cyient surged 4% to an intraday high of Rs 1,535.55 on the BSE on Thursday after the engineering solutions company appointed Sukamal Banerjee as executive director and chief executive officer of its digital, engineering, and technology (DET) business for a five-year term starting February 19. He will also join the board of directors … Read more
Indian frontline indices ended the week with 2.3% cuts amid selling pressure in most sectors, primarily in banks, auto and pharma. On Friday too, they ended lower. While the S&P BSE Sensex settled at 77,378.91, down by 241.30 points or 241.30%, the broader Nifty closed at 23,431.50, lower by 95 points or 0.4%. Commenting on … Read more
“We must watch out if this level holds out, then we can see a short-term bounce in the market, but more worrying is the weakness in smallcap and midcap space,” says Aditya Arora, Adlytick.What are charts suggesting? When will this fall in markets take a halt?Aditya Arora: Look, the texture has been weak and we … Read more
Indian IT companies are expected to report a single-digit revenue growth up to 4% in the quarter that ended on September 30, 2024 with the likelihood of positive commentary for the rest of FY25, according to estimates by three brokerages. The earnings season begins on Thursday, October 10 with the announcement of results by Tata … Read more
Domestic markets edged higher for the second consecutive week, moving closer to record highs, supported by favorable cues. In today’s trade, shares of Trent, BEL, LTIMindtree, Ambuja Cements, Alembic Pharma, Transport Corp among others will be in focus due to various news developments. Transport CorporationTransport Corporation of India announced that it will conduct its first-ever … Read more
While Nifty ended with modest weak-on-weak gains of 0.4%, the truncated trading week was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals … Read more
Shares of India’s software services exporters on Friday rallied up to 4% during the day as quarterly results of global peer Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day’s high of Rs … Read more