Speed bumps to growth ahead, but will TCS’ premium to peers still sustain?
“As is always the case, TCS will comfortably outpace global IT spending. TCS’ business is well sorted,” said Kotak Equities, who believes that the company is likely to gain in the vendor consolidation exercise.
Golden Crossovers: These 8 stocks signal further bullishness
Corporate Radar: Globe International, SecMark to trade ex-bonus, Wipro and HCL Tech results and more
Besides this, there are three stock splits lined up for today. Colorchips New Media announced the sub-division of its equity shares from a face value of Rs 10 to Rs 2 per share. Greencrest and Nikhil Adhesives, on the other hand, announced a stock split in the ratio of 1:10 each.
What changed for market while you were sleeping
Asian stocks opened lower on Wednesday after a mixed close on Wall Street following the IMF’s downcast economic outlook, with investors remaining cautious about the impact of inflation. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.87 per cent lower.
Stocks in the news: IndusInd Bank, Adani Enterprises, Dr Reddy’s, Power Grid and IT bluechips
HCL Technologies, Wipro, National Standard (India), SW Solar, NxtDigital, Mangalam Industial Finance and Artson Engineering are among the companies that will announce their results for September 2022 quarter today.
Two Options to play Infosys ahead of its Sept results
Analysts are expecting Infosys to announce a share buyback of ₹8,000 crore to ₹10,000 crore. The buyback is expected to limit the downside in the near term, as the buyback price is likely to be at a significant premium to the current market price, according to analysts.
Goldman Sachs Investment buys 0.9% stake in IndusInd
Goldman Sachs, through its Singapore entity, held 1.2 per cent stake in the private sector lender as on June 30. Foreign investors holdings in the lender are quite high at 45.83%.
Most analysts bullish on TCS after Q2 show beats Street forecast
India’s largest IT exporter posted better-than-expected results for Q2. Revenue growth was 3.9% quarter on quarter (QoQ), better than the consensus estimate of 3.5%. Earnings before interest and tax (Ebit) margin at 24% was resilient, with 90 bps QoQ expansion, ahead of the consensus estimate of 70 bps due to deft gross margin management, higher […]
Rights Issue to Aid Repayment: Suzlon
Suzlon Energy would be able to pare its debt by ₹583.5 crore with full subscription of its ₹1,200 crore rights issue which opened on Tuesday, the company said. “₹583.5 crore debt will be repaid with the assumption of full subscription of ₹1,200 crore rights issue opened on Tuesday,” Suzlon Group Chief Financial Officer Himanshu Mody […]
India’s wealthy face a new hurdle to investing in offshore funds via LRS
AIFs are specialised investment products that are tailor-made for ultra-high-net-worth individuals and they invest predominantly in unlisted securities. Venture capital funds and private equity funds are sub-types of AIFs.