Benchmark Nifty fell below 25000 levels and traded sideways throughout the session on Wednesday. Analysts said markets are consolidating and witnessing a dip at higher zones amid relentless selling by FIIs and muted results from index heavyweights. “We expect this consolidation to continue amid mixed global cues and a lack of domestic triggers. Index-heavy weights…
Nifty ended Friday with a weekly decline of 0.20% dragged by bank and FMCG stocks. When markets resume trading on Monday, a host of important domestic and global events lined-up during the week are likely to impact them. On Friday, Nifty closed at 24,964.25, lower by 34.20 or 0.14%. The psychological support of 25,000 was…
JPMorgan: Maintain Overweight| Target Price: Rs 5100 JPMorgan maintained its Overweight stance on TCS post Q2 results but has revised its target price down to Rs 5100 from Rs 5200. The firm’s revenues fell by 0.4% quarter-over-quarter in constant currency terms, the weakest since the pandemic era. JPMorgan attributes much of the revenue growth to…
Indian benchmark equity indices, the Sensex and Nifty, fell for the fifth consecutive session on Friday, marking their worst week in over two years. Concerns about the escalating conflict in the Middle East continued to unsettle investors while rising foreign outflows added to the pressure. The Nifty 50 index declined by 0.93% to 25,014, while…
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…
September 20, 2024September 20, 2024 Shares of Infosys Ltd. are trading flat after reaching a day’s high of Rs 1,915 on 20th September, following the company’s announcement of its decision to invest up to Rs 17 crore (approximately $2 million) in GalaxEye Space Solutions Private Ltd, a spacetech startup,…
IT stocks were on a roll on Tuesday led by midcap counter Coforge which jumped 5.5% to hit its fresh 52 week high of Rs 6,849.50 on the NSE. However, Infosys led the way in terms of contribution to the index. The rally comes amid favourable views taken by domestic brokerages Motilal Oswal and Nuvama…
The combined market valuation of eight of the top-10 most valued firms got eroded by Rs 2,01,699.77 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest laggards, in line with weak trends in equities. Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent. The market valuation of…
The combined market valuation of eight of the top-10 most valued firms declined by Rs 2,08,207.93 crore last week, with bellwether Reliance Industries, TCS and Infosys taking the biggest hit. While these three firms along with ITC, Life Insurance Corporation (LIC), Hindustan Unilever Ltd, Bharti Airtel and ICICI Bank were the laggards, HDFC Bank and…