Infosys admits appeal against UK tax assessment: Report
Reports here are flagging that the firm co-founded by British Prime Minister Rishi Sunak's father-in-law, Narayana Murthy, was contesting a GBP 20 million tax bill with His Majesty's Revenue and Customs (HMRC) department.
From doom to gloom! Why IT stocks can be one of the top performers in 2023
A question arises as to why IT companies have done well despite the fear of a recession and a potential downturn in the US and Europe. Has the market overlooked some important detail, or is this just a temporary surge?
Smart Talk: Market may be disappointed if capex is not increased this Budget, says Amit Gupta
"Affordable housing, electricity, Nal se Jal, and higher manufacturing would remain the prime focus for the government. Infra spending will get a further push. Capital expenditure can be increased from 2.9% of GDP to 3.5% of GDP."
Dalal Street ahead of Wall Street in market infrastructure, safety: Nithin Kamath
โYou might be wondering, why isn't instant settlement like payments possible. This is because most trading volumes on the exchange are from intraday traders who buy and sell stocks without taking delivery or have the stocks to deliver immediately," said billionaire Kamath.
After 12 quarters, FIIs make a comeback in this IT stock; whatโs changed the mood?
While announcing its September quarter earnings, HCL Tech had raised the constant currency revenue growth guidance to 13.5-14.5% for FY23. But 2 months later, it said that growth is likely to be at the lower end of this range.
Indiaโs largest IT firm by market cap ditched by FIIs for 10 quarters in a row!
While TCS reported strong numbers for the December quarter, it wasnt good enough to entice investors as risks to earnings growth persists amid the macroeconomic slowdown in Europe and US.
ETMarkets Smart Talk | Buy these 5 PSU stocks on dips, says Ajit Mishra of Religare Broking
We feel participants should maintain their focus on stock selection amid the prevailing consolidation phase in the index and wait for a decisive breakout on either side. Going ahead, the upcoming earnings announcement of index majors might provide the needed trigger. Besides, global cues, especially the performance of the US indices, will remain in focus.
Traders can deploy long butterfly strategy ahead of Budget; keep an eye on metal stocks: Anand James
This time around, metal stocks have generally been on the positive side in the last month. So, there is a 60% chance that we are going to see a positive move post the Union Budget. The power sector has been witnessing profit booking since September, pulled down majorly by institutional activity. Institutions have been net sellers to the tune of Rs.1463 crore in the last four months.
Four of top-10 firms add Rs 82,481 cr in mcap; HDFC Bank, Adani Total shine
Four of the 10 most valued firms together added Rs 82,480.67 crore in market valuation last week, with HDFC Bank and Adani Total Gas emerging as the top gainers. While Infosys and HDFC were the other gainers, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, State Bank of India and Life Insurance Corporation of India (LIC) faced erosion from their market valuation.
In terms of geographies, North America grew 19.6% year on year while Europe just reported 0.2% growth. The company said Europes underperformance was largely due to currency impact seen previously and, going forward, the market is expected to be on a โgood growth trajectoryโ due the strong deal wins this quarter.
ETMarkets Smart Talk: Plan to invest Rs 10L in 2023? Allocate 45% in equities and debt; 5-10% allocation to gold through SGB
As far as the budget is concerned, for the last 3-4 years budget has remained non-event for the market, and most of the policy decision has been announced separately. We dont expect any pre-budget rally.
Kotak Pre-IPO fund buys minority stake in stent maker SMT
The Rs 2,000-crore Kotak fund, an India-focused late-stage alternative investment fund (AIF), primarily focuses on investments in late-stage companies. Investors in the fund as its limited partners include family offices such as Catamaran of Infosys cofounder NR Narayana Murthy, and Skywalker of Rubamin group.
Banking sector will continue to do well: Gautam Duggad
โSo it is our base case that this sector will continue to do well and it is amply reflected in our model portfolio where PSU banks have been the single largest overweight for us for more than a year running now.
Jonathan Schiessl on why defensive counters like consumption may outperform now
โWe have held a reasonable weight to this sector to keep a balanced portfolio. The expectations were not that high and obviously the numbers are probably coming through better than expected. So yes, we like this space and continue to have good holdings there.โ
IT stocks busy taking revenge as investors ignore downgrades after Q3 results
A sharp slowdown in net hiring, muted growth outlook in 4Q and a potentially slower conversion of bookings to revenues points to a sharp growth moderation for Indian IT firms. However, falling attrition and ongoing improvement in the employee pyramid should support margin recovery
Recession signals by US banks casting shadow of uncertainty over IT cos
We believe the slowdown impact would be more broad-based, and could be more in the hi-tech segment where clients may not opt for upgrades and rather continue with the current processes,โ said Mitul Shah, head of research at Reliance Securities.
Value will continue to outperform growth for next 6 months: Sridhar Sivaram
I don't see a long-drawn patch. I think it is more tactical right now because large markets are moving very fast and India was a consensus overweight. In fact, it wasn't a consensus overweight till about third quarter of last year because we were seeing continuous FII outflows.
When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. Usually, an ex-dividend date is set one or two days before the record date.
Why TCS despite not meeting estimates for 7 out of 8 quarters has fallen the least? Mahantesh Sabarad answers
"Wipro has a considerable exposure on the energy side when it comes to its analysis from a vertical point of view and that has not yet turned stable. I would say what the investors look for in the stocks is the momentum gathering up in terms of top line through deal wins."
Stock market update: Stocks that hit 52-week highs on NSE
Sula Vineyards Ltd., Generic Engg, Innovana Thinklabs, Network People Services Technologies Ltd. and Upsurge Seeds of Agriculture Ltd., hit their fresh 52-week highs at 11:27AM.
The brokerage maintains a Buy rating on Infosys with an unchanged PT of Rs. 1,730 given strong deal pipeline, its end -to-end capabilities and prowess in digital areas, analytics, automation and Cobalt cloud.
IT biggies post 14-20% topline growth in Q3 as caution; optimism marks mixed earnings' commentary
Overall, the revenue growth band of the top-tier IT players was pegged at between 14-20 per cent for Q3FY23, compared to the year ago period. Seen sequentially, the topline growth for the large IT pack ranged between three per cent and eight per cent versus previous September quarter.
Expect volatility over next 2 quarters in IT but thereโs light at the end of the tunnel: Siddharth Khemka
โChina reopening is a big theme for the global commodity prices and demand which could lead to some support for the metal stocks specifically. If you look at some of the base metal prices, they have been hitting three month, six month highs. โ
โBoth PSU and private banks will continue to outperform in Q3โ
Right now it is the internet and the technology shares of China and the consumption oriented ones which are getting money, so a little surprising. Secondly, given the dollar level, normally you would see emerging market inflows coming in and growth stories like India tend to benefit whenever the dollar index starts to go down.
Brokerages Retain Positive View on Infosys Amid Headwinds
Net open interest, the total number of outstanding positions, in Infosys' stock futures declined as much as 7%, or by roughly 28.6 lakh contracts, in the previous two sessions indicating squaring-off of bearish bets, showed provisional data from stock exchanges.
Wipro Q3 earnings: 6 key takeaways for Dalal Street
Wipro won deals worth $4.3 billion in the quarter, up by 26% YoY, with large deal bookings rising by 69% YoY. The growth in large deal booking was much stronger than the 24% growth reported for the September quarter.
โOur top pick would remain Infosys which we have been bullish on since the last two-three quarters. Within the IT pack, we like Infosys only and last quarter we upgraded HCL Tech from hold to buy. The second bet would be HCL Tech. We have a buy on Wipro but after this commentary, we would able to come out with details in terms of whether we will maintain the positive stanceโ