After breaking above a 13-day consolidation band, TCS shares have earned the right to not limit the present upmove to just a one day surge but can rally to Rs 4315-4350 in the base case scenario and Rs 4588 in an optimistic scenario, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from … Read more
A long buildup occurs when both open interest (OI) and trading volumes rise alongside an increase in the underlying stock price, signaling a bullish trend in the Futures and Options segment. In Friday’s trading session, five stocks witnessed fresh long positions. Here’s the list: Source link
After ending Friday’s session nearly 7% higher, shares of Tata Consultancy Services (TCS) could rally towards a new 52-week high of Rs 4,400. “On the weekly chart, the stock had found support at the rising trend before the recent rally. On the daily chart, the stock has given a consolidation breakout. Suggesting a rise in … Read more
Benchmark Sensex and Nifty closed marginally down in a volatile session on Thursday as investors booked profits in heavyweights ahead of quarterly results. Stocks that were in focus include names like TCS, which fell 0.18%, Hindalco, which gained 0.25%, and Shipping Corp, whose shares Jumped 20% on Thursday. Here’s what Riyank Arora, Technical Analyst at … Read more
Benchmark stock market indices traded flat after opening higher on Monday due to cautious sentiments among Dalal Street investors. The S&P BSE Sensex was up 51.82 points at 75,462.21 at 10:19 am, while the NSE Nifty50 fell 5.30 points to trade at 22,951.80. Most of the broader market indices were also trading in negative territory … Read more
Here’s a list of companies where promoters have offloaded stakes in the past month. (Source: ET NOW) Source link
NEW DELHI: The September quarter earnings of IT services majors Tata Consultancy Services (TCS), Infosys, and HCL Tech have left analysts upbeat on margins, and deal wins but discretionary demand played spoilsport. TCS reported an EBIT margin of 24.3%, Infosys 21.2%, and HCL Tech 18.5%. Domestic brokerage firm Kotak Institutional Equities said the figures were … Read more
Even as some of India’s largest IT stocks are trading up to 25% below their 52-week peak levels, bargain hunters obsessed with PE valuation multiples aren’t finding enough reasons to start buying the diamonds lying in dust. The reason why most institutional investors are staying away from IT stocks is not just because of the … Read more
NEW DELHI: Nifty IT, which was the biggest wealth eroder in 2022 with a heavy loss of 26% is now gradually turning out to be the best performing sector. In the last one month, when the benchmark Nifty has been flat, the IT barometer has shot up over 10% to become the No. 1 performer. … Read more
could report a double-digit year-on-year (YoY) increase in revenues for the quarter ended June 30 on Friday. Despite expectations of a strong quarterly show, the stock has come under selling pressure off late. The scrip fell by a little over 10 per cent in the last three months, data showed. It closed 0.8 per cent … Read more