Sustained selling pressure from foreign investors, muted second quarter earnings expectations, and elevated valuations acted as headwinds for the market during the week as benchmark indices ended in the red. But, even in a muted market, 42 smallcap stocks have delivered double-digit weekly returns with five of them offering over 25% returns. Nalwa Sons Investment … 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
Tea stocks, including Jay Shree Tea, Warren Tea, Rossell India, and McLeod Russel India, jumped between 6%-16%, with Rossell India scaling to its new 52-week high of Rs 663 on BSE today due to soaring tea prices driven by heatwave and floods reducing output. Tea prices have been affected by the heat and rain concerns … Read more
Indian IT services and consulting firm Mphasis will likely remain in focus today as the company, while declaring its Q4FY24 results, had declared a dividend of Rs 55 for its eligible shareholders. The company had fixed July 10 as the record date for this purpose, meaning that today is the last date to buy the … Read more
Mumbai: Promoters of more than 200 companies have cumulatively sold stock worth more than ₹33,000 crore in the past two months, suggesting that valuations have become attractive enough for owners to book returns on part of the equity they hold. As the question of stretched valuations continues to swirl through Dalal Street, promoters seem to … Read more
“A lot of this is driven through everything we talked about in the last few quarters, the focus on in-account actions, extreme amount of focus on investing in relevant tech solutions, infusing a lot of tech and AI into these solutions to actually create a differentiation,” says Nitin Rakesh, CEO, Mphasis.Meanwhile, Manish Dugar, CFO, Mphasis … Read more
The midcap IT stocks‘ outperformance over their largecap peers and all other indices rests on their radical transformation from boys to men, argues Nuvama in a report. The brokerage picks LTIMindtree, Coforge and Persistent Systems as its top picks from the pack while initiating coverage on Mphasis with a ‘Reduce’ tag. Even as the Nifty … Read more
Equity markets witnessed a broad-based rally during the week, supported by robust macro data and sustained foreign inflows. During the week, as many as 68 smallcap stocks delivered double-digit weekly returns with four of them offering over 25% returns. DCM Shriram Industries was the top gainer in the smallcap pack with a nearly 32% return, … 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
NEW DELHI: Snubbing bearish views of most foreign institutional investors (FIIs) on IT stocks amid recession-related worries in western economies, India’s largest domestic investor LIC is making a contra bet. The March quarter shareholding pattern shows that the state-owned insurer hiked stakes in seven of the biggest Indian tech majors – TCS, Infosys, Tech Mahindra, … Read more