Shares of major information technology companies came under pressure on February 24, falling as much as 8%, after a sharp decline in IBM on Wall Street unsettled investors. The stock tumbled 13%, its worst single-day fall in 25 years, after AI startup Anthropic said that its Claude tool can help streamline COBOL code. COBOL, short…
India’s retail investors have poured record sums into equity mutual funds through systematic investment plans over the past few years. For many, SIPs are a disciplined, long-term route to wealth creation. But a sharp correction in IT stocks has raised some worries over the broader dip in returns if this continues for long. According to…
After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 4% while Wipro gained 3%—helping both stocks close the week on a far stronger note. As much as Rs…
Infosys’ American Depositary Receipts (ADRs) reversed Thursday’s losses on Friday, surging 4% in early trade to hit the day’s high of $14.77 while Wipro’s ADRs were up 2.2% to $2.33 despite a selling pressure on the Nasdaq Composite and weak trade in domestic IT stocks for yet another session today. Frontline indices on the Wall…
A sharp increase in US visa fees is set to push up costs for Indian IT services giants by as much as $100 million to $250 million, even as their strong financial profiles and healthy margins help cushion the blow, Moody’s Ratings has said. The higher H-1B visa application fee, part of broader US immigration…
The New York Stock Exchange (NYSE) has halted the trading of Infosys‘ American Depository Receipts (ADRs) after it surged 40% to $26.62 on Friday, according to a CNBC-TV18 report. Meanwhile, Wipro ADRs jumped over 7% to hit $3.07 on the NYSE. While it was the third successive day of rally for Infosys’ ADRs, the spike…
Markets edged higher on Thursday and touched a new record, supported by favourable global cues. Beyond strength in US markets, optimism around potential interest rate cuts and easing crude oil prices continued to support buying sentiment. “We expect the positive momentum to continue, with the Nifty gradually advancing toward the 26,500 mark. On the downside,…
The Indian market extended its winning streak on Friday, supported by foreign inflows, easing U.S. bond yields, a stronger rupee, and festive optimism. The S&P BSE Sensex surged 484.53 points, or 0.58%, to close at 83,952.19, while the NSE Nifty 50 rose 124.55 points, or 0.49%, to 25,709.85. Here’s how analysts read the market pulse:…
Solar PV modules manufacturer Waaree Energies on Thursday reported a 133% growth in its consolidated Q2 net profit at Rs 842 crore versus Rs 362 crore in the year ago period. The profit after tax (PAT) is attributable to the owners of the parent company. The company’s revenue form operations in the quarter under review…
Amid heightened trade tensions and market volatility, Emkay Global has identified a clutch of value and quality stocks it believes could outperform in the months ahead. Birlasoft, IndusInd Bank, Gujarat State Petronet, and Oil India are among the top value bets based on their attractive valuations, improving earnings growth, higher dividend payouts, and significant corrections…