Even though Indian markets rose for the ninth straight day on Thursday, the advance was curtailed by a severe selloff in IT companies following significant Q4 earnings. Strong purchasing in the banking and auto sectors would be what freed the Sensex and Nifty 50 from the bears’ hold. Also, optimism for a further RBI repo…
MUMBAI: As businesses begin disclosing their financials, India Inc. is likely to report a halving of revenue growth in the fourth quarter of FY23, a credit rating agency warned on Thursday.According to Crisil’s Market Information and Analytics division, the revenue growth will drop to 10–12% from 22.8–% for the January–March period last year.According to the…
Today’s stock market: Anand Rathi shares caught bulls’ attention and achieved lifetime high of $884.55 per share on NSE in early morning trading on Thursday as a result of impressive Q4 earnings and a 140% final dividend. The board of directors of Anand Rathi Wealth Ltd. approved a final dividend of 7 rupees per equity…
Investors in the IT sector were anxious as they moved into the Q4FY23 results season, and to add to their anxieties, Tata Consultancy Services Ltd (TCS), the sector bellwether, failed to reach consensus projections. On a sequential basis, its revenue in constant currency terms, increased 0.6%, missing analysts’ projections of 0.9% revenue growth. Region-wise, North…
Most mutual funds have cut their holdings in Adani Group companies, but the largest investor in India’s public markets, Life Insurance Corp of India (LIC), has increased its holdings in four group stocks during the March quarter. This is in response to a sell-off crisis caused by a bad report from US-based short seller Hindenburg…
Shares of Infosys, a major IT services company, went up on Wednesday, one day before the company is set to release its financial results for the March quarter (Q4FY23) on Thursday, April 13. At 1:44 p.m., the script was worth 1.33 percent more per share, at 1,424.90. In the past week, Infosys has given investors…
The stock price of One 97 Communications, also known as Paytm, went down on Wednesday as investors sold their shares. Over 6.5% of Paytm stock has gone up in the last seven trading days. Yes Securities is the latest company to raise its target price for Paytm because it thinks the company will make a…
Wednesday was the eighth day in a row that the benchmark indices Sensex and Nifty went up. This was due to continued foreign fund inflows and buying in IT, healthcare, and auto stocks. The BSE Sensex went up 235.05 points, or 0.39 percent, to finish at 60,392.77. During the session, it went up 279.92 points,…
On Tuesday, shares of Bank of Baroda (BoB) went up by about 3%. Investors are happy with the bank’s business update for the March quarter (Q4FY23), which showed that the bank is likely to end FY23 on a good note. The bank’s loans grew by 19% year-on-year (y-o-y) to 9.74 trillion in the fourth quarter….
ITC stock, a major player in the FMCG industry, is up for the fourth straight day on Tuesday. The stock received positive feedback from investors, touching a new 52-week high and rising by 2%. ITC is one of the brokerages’ top picks amid FY23 Q4 earnings. ITC’s stock price increased by $7.40, or 1.90%, to…
