Infosys shares tumbled close to 6% on Friday as the company’s muted outlook after its third-quarter results prompted investors to cut their bets. “While Infosys reported decent numbers, the management expects a muted fourth quarter which led to the slide in the stock,” said Dharmesh Kant, head of research, Cholamandalam Securities. “Given that Infosys was … Read more
In addition, while the country’s largest IT exporter continued to bag fresh orders, the quantum of total contract value (TCV) was underwhelming when compared with the previous quarter. Source link
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent. The 30-share BSE Sensex jumped 1,720.8 … Read more
Betting that IT stocks could be traversing an inflection point as the growth momentum may bottom out over the next few months and a return to growth over CY24 on the back of easing of several headwinds and new drivers taking over, both FIIs and mutual funds increased their shareholding in most largecaps.MF holding in … Read more
The week that went by saw bulls having an early Christmas party on Dalal Street, as benchmarks Nifty50 and Sensex clocked their best weekly gains since mid-November. The Sensex rallied more than 1,600 points or 2.4% last week and ended at a record closing high of 71483.75 points on Friday. While the gains were broad-based … Read more
Brokerage firm InCred maintained a hold rating on TCS while Morgan Stanley had an equal-weight rating on Tata Steel. Also, ICICI Securities maintained a buy on Zomato and Citi maintained a buy rating on BPCL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: InCred on TCS: Hold| … Read more
File photo of Tata Consultancy Services campus Synopsis While the management has expressed confidence over the demand momentum, caution is in the air given that over three-fourth of its revenue is generated in the US and Europe, the regions that are likely to be affected due to macroeconomic challenges. ET Intelligence Group: Tata Consultancy Services … Read more
Domestic equity markets closed in the red for the third consecutive day on Friday tracking weak global cues. The S&P BSE Sensex fell more than 450 points, while the Nifty50 closed below the 17,900 level. Sectorally, buying was seen in FMCG while selling was visible in IT, metals, banks, and healthcare. Stocks that were in … Read more
“For , as of now there is zero trend as such till the time it shows any price action, which can confirm a trend change. It is still an ‘avoid’,” says Rahul Shah, VP-Equity Advisory, . Edited excerpts: Let us talk about the IT sector. No doubt, last week, the sector was majorly in focus … Read more
Nifty futures on the Singapore Exchange traded 278 points, or 1.61 per cent lower at 17,036, signaling that Dalal Street was headed for a negative start on Monday. Here are a dozen stocks which may buzz the most in today’s trade: : The Tata Group’s IT major will officially kick-off earning season of India Inc. … Read more