Tech Mahindra Q3 preview: The IT services frim's consolidated revenue, in rupee terms, is expected to rise 18% YoY and 3.7% QoQ to Rs 13,612 crore

​So my view is cautious because on every higher side we are facing a strong resistance. Coming towards the Bank Nifty, as of now till the time the Bank Nifty is holding its strength on the higher side it is facing a very strong resistance at around 42,800 to 42,600 levels.

The nomination and remuneration committee has extended the tenure of Gurnani till December 19, 2023 as it looks to work on the succession plan of Gurnani.

“The group's four major businesses – auto, farm, Tech Mahindra and Mahindra Finance, are really in a very strong growth phase and will contribute a tremendous amount of growth to the group.We also have three listed entities which are growth gems -- logistics, life spaces and holidays – and a few others that will contribute very solidly to the growth as well.

The 5G core network transformation will assist telecom operators in developing 5G core use cases and meeting the growing technological (Augmented Reality (AR), Virtual Reality (VR), IoT (Internet of Things), and edge computing) requirements of their customers, the statement said.

I think most of the forward-looking indicators are things which would be very important. So investors would be looking at the deal booking numbers and the kind of hiring intensity. I think these are couple of lead indicators that one should be looking at.

The NSE Nifty index closed 132.7 points down at 17859.45

"Now that they have split the shareholder and policyholder accounts, 100% profits of this non-participating pool will accrue to shareholders the excess is significant. It is Rs 5,000 crore per quarter and that would give it about Rs 20,000-25,000 crore as a profit pool and it is valued at Rs 400,000 crore. "

“What is playing out right now is the impact of commodity inflation. We are by and now past most of the commodity increases but we have not been able to pass on the margin on it and that I think will start evening out only when commodity prices start moving down because then you get your chance to even it out.”

“Tech Mahindra would be my stock pick in IT. Its alliance with British Telecom hits a very sweet spot and Tech Mahindra perfectly fits the bill with hardly any downside. Autos are very under owned and the cycle from motorcycle to scooter to Alto and Ertiga is all about aspiration. Samvardhana Motherson International is the mother of all as far as the OEMs go.”

“Tech Mahindra would be my stock pick in IT. Its alliance with British Telecom hits a very sweet spot and Tech Mahindra perfectly fits the bill with hardly any downside. Autos are very under owned and the cycle from motorcycle to scooter to Alto and Ertiga is all about aspiration. Samvardhana Motherson International is the mother of all as far as the OEMs go.”

While Nifty has plunged around 3% so far in December, historical trend indicates that the festive spirit may soon overpower bears. In the last 20 years, Nifty has ended on a positive note in December for 80% of the time. December has the highest average monthly returns of 3.2%, Samco Securities said.

Tech Mahindra, which expects to complete the sale in the first week of January 2023, says the transaction would not have an impact on its consolidated turnover

Market participants said Powell's remarks that the American central bank would increase interest rates further next year even if the economy slips into a possible recession dented sentiment.

The NSE Nifty index closed 245.4 points down at 18414.9

Wipro is best placed in terms of resilience (least exposure to stressed verticals), expectations (pessimism built in given highest cuts to FY24E USD revenue growth) and valuation comfort (lowest premium to past 5-year median), the brokerage firm said.

Tech Mahindra, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 100468.98 Crore) operating in IT Software sector.

The NSE Nifty index closed 112.75 points down at 18496.6

The fall in domestic equities was led by the information technology pack after a profit warning by sector major HCL Technologies soured the mood

The US economy is widely expected to tip into a recession in the second half of 2023 owing to the US Federal Reserve's aggressive tightening of monetary policy

I have been bullish on IT for some time. I had given stocks like Tech Mahindra, Mphasis last week which did well but yes currently there is some resistance.

The NSE Nifty index closed 4.95 points up at 18701.05