The American Depository Receipts (ADRs) of Infosys fell 3.6% while those of Wipro were down 3.2% on Thursday following Accenture’s forecast of its full-year revenue where it raised the lower end of its annual topline on growing demand for its services to help clients integrate AI-powered tools into their operations. Strong demand for large-scale projects … Read more
There was a premium arbitrage between COMEX and London, wherein market participants sold the COMEX futures and bought the London physical and to mature the COMEX future part, the London physical stocks were brought into the COMEX inventories, Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services (MOFSL) said. Those concerns have eased-off, … Read more
“23,000 is a support level that we are looking at and on the upside 23,500 is the resistance that we are looking at. Although if it fails to hold 23,000, we could see a more downside move towards 22,650 levels. Now, this is the range and the band coming out for Nifty,” says Shivangi Sarda, … Read more
With a lackluster Q2FY25 earnings season behind, several top brokerages have made changes to their model portfolios and come out with their preferred stocks and buy recommendations. ETMarkets brings a list of top stocks, which are part of the model portfolios of Motilal Oswal Financial Services (MOFSL), Nuvama Institutional Equities and Kotak Institutional Equities. Nifty … Read more
ET Intelligence Group: The stock of Persistent Systems, a mid-tier IT services company, has gained 10% since its second-quarter result announcement last Tuesday, taking the three-month return to 20%. The stock has remained buoyant following the company’s strong business momentum in the September quarter, even as the broader market has shown weakness. The key business … Read more
One 97 Communications which operates payments platform Paytm, is expected to report a net loss between Rs 1,013 crore and Rs 840 crore for the quarter ended June 2024 according to estimates by a couple of brokerages. The revenue for the reporting quarter is expected in the range of Rs 1,532 crore and Rs 1,490 … Read more
Mumbai: India Thursday tightened rules for individual stock inclusion in the derivatives segment amid an exponential volume surge and concerns about speculation, and eased norms for those seeking to delist by approving a fixed price offer as an alternative mechanism to a book-built price discovery. The Securities and Exchange Board of India (Sebi) has also … Read more
Mumbai: India‘s benchmark indices soared to fresh all-time highs on Thursday as the Reserve Bank of India‘s larger-than-expected dividend payment to the government prompted traders to cover some of their bearish bets. Receding uncertainty over the BJP’s performance in the general elections also bolstered sentiment, with the NSE Nifty ending a whisker away from 23,000. … Read more
The corporate earnings scorecard for 4QFY24 has been in line so far. The earnings spread has been decent, with 70% of our Coverage Universe either meeting or exceeding profit expectations. However, growth has primarily been led by the BFSI and Automobile sectors. The earnings growth was fuelled by the domestic cyclicals, such as BFSI and … Read more
Hero MotoCorp. Share Price 4684.00 03:59 PM | 22 Mar 2024 164.11(3.64%) Maruti Suzuki India. Share Price 12337.70 03:59 PM | 22 Mar 2024 429.56(3.61%) UPL. Share Price 470.00 03:59 PM | 22 Mar 2024 14.45(3.18%) Apollo Hospitals Enterprise. Share Price 6375.90 03:58 PM | 22 Mar 2024 193.40(3.13%) Sun Pharmaceutical Industries. Share Price 1608.90 … Read more