LTIMindtree, the merged entity that houses conglomerate Larsen & Toubro’s information technology business, is unlikely to be part of the benchmark Nifty50 during the upcoming March index review, Nuvama Wealth reiterated. The completion of the merger of Larsen & Toubro Infotech and Mindtree in November sparked speculation of the new entity, India’s fifth largest IT … Read more
It was feared that the economic slowdown in Europe and the US would affect the IT sector, but that has not happened. Contrarily, the majority of businesses have reported strong growth, even in Europe. While the situation is volatile, companies are confident of navigating the same successfully. Source link
NEW DELHI: Shares of both IT companies L&T Infotech (LTI) and were trading flat on Tuesday, a day after the merger came into effect. Despite the joint entity of LTIMindtree becoming the fifth-largest IT company in India based on market capitalisation, there are little hope of its inclusion in the Nifty50 index in the March … Read more
Stating that all key positives in Mindtree have been factored in, brokerage firm Motilal Oswal sees limited upside potential in the IT stock. Motilal Oswal maintained its ‘neutral’ rating on due to its fair valuations (based on 22x FY24E P/E), softness in retail and constraints on management bandwidth because of its impending merger with L&T … Read more
Domestic equity markets are set for a negative opening on Thursday tracking the mixed global cues. US stocks settled marginally lower on Wednesday, whereas Asian peers kicked off trade in red. Inflation worries persist after the US Fed’s hawkish commentary. Back home, IT majors will be in action following the Q2 earnings. Here’s breaking down … Read more
Following its impressive show in Q2 business update, shares ended 5.2% higher on Friday and closed a tad below its lifetime closing high. “We believe the stock will surpass its lifetime high of Rs 2,768 and explore uncharted territory, which could take it towards Rs 3,000,” says Jatin Gohil, Technical and Derivative Research Analyst at … 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
Overall, structurally the trend remains positive but there is still a lot of catch up left in small caps, said Nooresh Merani, independent technical analyst. Edited excerpts: What has been your assessment of how the market has shaped up?Overall it was a week where we saw a bit of consolidation and now we are forming … Read more
Indian market started on a strong note on Friday tracking positive global cues. The S&P BSE Sensex rallied more than 200 points while the Nifty50 rose above 17400 levels in the first 15-minutes of trade. Sectorally, buying was seen in telecom, IT, banks, capital goods, and FMCG while some selling was seen in oil & … Read more
In the last five years, Intellect Design Arena has come a long way — from uncertainty as to whether there will be wide acceptability of its products to entering the territory of viability and profitability. How did it manage it and what are the challenges that may impact its valuations?I came to know about Intellect … Read more