IT stocks drag as HCL Tech tanks 7% on macro worries
Analysts said traders must refrain from building bullish bets on IT stocsks as the sector may continue to see more pain over the next three months to one year due to bleak revenue growth prospects that may curtail tech budgets and IT spending.
US stocks end in the red on fears of further rate hikes
The S&P 500 shed 0.7 percent, finishing at 3,934.38, while the Dow Jones Industrial Average lost 0.9 percent to end at 33,476.46. The tech-rich Nasdaq Composite Index slipped 0.7 percent as well to 11,004.62.
Sebi brings in revised norms for foreign investments in AIFs
AIFs may accept commitments from a government or government-related investor that does not meet the signatory condition, if the investor is a resident in the country as approved by the Indian government, Sebi said.
Kolkata’s Baazar Style plans Rs 700-cr IPO, hires bankers
The proposed IPO will value the retail chain at Rs2500 crore, sources said. About Rs300 crore will be raised as primary capital while Rs400 to be raised through a secondary share sale.
BharatPe files arbitration to claw back Ashneer Grover’s 1.4% shares
The action follows a detailed corporate governance review by the company’s board into allegations of lapses and misdoings during the tenure of Grover as managing director.
Airtel beats Jio to gain more revenue market share in Q2, Vi cedes further ground
Airtel’s AGR (including NLD) market share, commonly known as RMS rose 83 basis points (bps) sequentially to 36.3% in the September quarter. Jio’s on-quarter revenue share gain was lower at 56 bps to 41.4%, while Vi’s slipped 20 bps sequentially to 17.5%, financial data put out by Trai showed.