Big Movers on D-St: What should investors do with ITC, NMDC and Bharti Airtel?
After a medium-term correction, the stock is witnessing positive consolidation near the 200-Day SMA (Simple Moving Average). It has also formed a higher bottom formation which indicates a strong possibility of a fresh uptrend rally from the current levels.
Recession fears set Asian stocks on course for weekly drop
The S&P 500 fell overnight, too, with some heavy selling on weak results. Tesla shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two years. AT&T shares dropped 10.4% after the wireless carrier missed revenue and cash flow estimates.
ITC hits Rs 5-lakh crore m-cap; CLSA raises target
In the process, it became the 11th Indian listed company to touch ₹5 lakh crore in market capitalisation. In the last month, the stock has risen over 6% and yielded more than 20% returns since the beginning of calendar 2023.
JP Morgan flags more earnings downgrades, de-rating for IT
The brokerage said Tata Consultancy Services, LTIMindtree, HCL Technologies, and Mphasis are most at risk of multiple downgrades while Infosys, Wipro, and TechM face greater earnings risks.
SBI looks to raise $500 million via dollar bonds
India’s largest lender, the State Bank of India (SBI), has reportedly contacted international banks to explore options for a possible bond issue, with initial estimates pointing towards $500m. The bank is expected to formally involve investment banks in the project within a week, with the issue’s size dependent on the response from investors. The regulatory […]
Will Infosys recoup Monday’s loss in 33 sessions?
Infosys shares on Monday plunged as much as 15% to hit a 52-week low of ₹1,185.30 as investors were disappointed by the company’s weaker-than-expected growth guidance. The stock ended 9% lower.
HCLTech’s strong deal pipeline affirms a sustained long term momentum amid short term weakness
Given this, the stocks of the top tier IT exporters are expected to remain under pressure in the short term. The ET Infotech index has lost 10.9% over the past three months compared with the 2.9% loss in the broader market ET 100 index and 1.6% loss in the benchmark S&P BSE Sensex.
Sebi penalises two former auditors of CG Power
“This is also a fit case where SEBI needs to send a stern message to professionals who associate themselves with securities market so as to prevent them from indulging in such acts of omissions and commissions as found in this case,” Sebi said.