Rs 10,710 crore-worth block deals take place this week; Vedanta tops the list

Rs 10,710 crore-worth block deals take place this week; Vedanta tops the list

The week gone by saw Nifty50 settling 0.66% lower over the previous week. Yet it was not without action as prominent bulk, block and insider deals worth Rs 10,710 crore were executed during the week. Sizeable block deals that were executed on screen were worth over Rs 10,434 crore with Vedanta walking away with the … Read more

Taking stock: Weak guidance, multi-quarter low growth keep IT investors on edge; what’s in store ahead?

Taking stock: Weak guidance, multi-quarter low growth keep IT investors on edge; what’s in store ahead?

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

Rs 10,900 cr-worth bulk & block deals take place this week; Amara Raja tops charts

Rs 10,900 cr-worth bulk & block deals take place this week; Amara Raja tops charts

The week gone by saw a bunch of prominent block and bulk deals in nearly two dozen companies. The total deal value stood at Rs 10,926 crore with a lion’s share accounting for Amara Raja Batteries. The other prominent names include Kotak Mahindra Bank, HDFC Bank, Reliance Industries and Power Grid Corporation. Sizeable block deals … Read more

Rub-off effect! IT stocks crash up to 10%; Infosys top loser

Rub-off effect! IT stocks crash up to 10%; Infosys top loser

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

Market valuation of 6 of top-10 most valued firms jumps Rs 2 lakh cr; Reliance, TCS big winners

Market valuation of 6 of top-10 most valued firms jumps Rs 2 lakh cr; Reliance, TCS big winners

Six of the top-10 most valued firms together added Rs 2,03,010.73 crore in market valuation last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest gainers, amid an optimistic trend in equities. Last week, the 30-share BSE benchmark jumped 780.45 points or 1.19 per cent. The Sensex on Friday settled at its … Read more

Motilal Oswal sees 13% upside in Tata Motors stock: 5 reasons why

Motilal Oswal sees 13% upside in Tata Motors stock: 5 reasons why

Tata Motors can rally another 13%, with the stock expected to scale target of Rs 700, riding on strong growth drivers. Motilal Oswal has recommended a ‘Buy’ rating on Tata Motors, estimating a healthy recovery as supply-side issues ease and commodity headwinds stabilise for its India business. India’s largest EV play is expected to benefit … Read more

IT cos to log muted Q1 as macro woes persist; recovery may be gradual, say analysts

IT cos to log muted Q1 as macro woes persist; recovery may be gradual, say analysts

New Delhi, Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts. Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is … Read more

Sensex up 2.5x from Covid lows as these 25 constituents turn multibaggers!

Sensex up 2.5x from Covid lows as these 25 constituents turn multibaggers!

From the COVID lows, the benchmark Sensex is up nearly three times, scaling past the 65,000-mark, and in this journey, 25 of its constituents have turned multibaggers. From March 2020, when COVID-19 pandemic brought the Indian economy to a standstill, the Sensex has risen a whopping 150%. On Monday, the index scaled a lifetime high … Read more

MCX renews IT deal with 63 Moons due to TCS delay

MCX renews IT deal with 63 Moons due to TCS delay

Mumbai: A further delay in delivery of the trading software by Tata Consultancy Services (TCS) has forced the Multi Commodity Exchange India (MCX), India’s largest commodity exchange, to continue with existing vendor 63 Moons Technologies. The bourse for the third time renewed the software support service with 63 Moons for six months beginning July 1, … Read more

Why has India’s corporate tax mop-up failed to match the pace of personal income-tax collection?

Why has India’s corporate tax mop-up failed to match the pace of personal income-tax collection?

Back in 2010-11, India’s corporate tax mop-up was twice its personal income tax (PIT) collection. Now both are almost equal. In the past decade, the nation’s direct tax story has shown a trend: while the growth of companies’ tax payouts has been modest, citizens are contributing much more to the exchequer than what they used … Read more