Big Movers on D-Street: What should investors do with Zomato, Infosys and PNB?
Benchmark indices touched new highs on Thursday, but ended the session with slight gains after a global rally. Zomato rose by 6.9%, Infosys gained 2.39%, and PNB fell nearly 4%. Kotak Securities’ Amol Athawale recommends buying Zomato and Infosys. PNB is deemed a good buy on dips.
Wall Street ends up, extends recent gains on cooling US inflation
US stocks rose on Thursday, helped by a record closing high in an index of technology-focused shares and news of falling producer inflation. The Nasdaq rose more than 1% for a second consecutive day. Annual producer inflation in America increased at its smallest rate for almost three years, providing evidence of easing inflation pressures. The […]
New SIP accounts at a record high in June amid market rally
On an average, about 2.12 million new SIP accounts per month were opened over the past 12 months taking the cumulative addition to 26 million.
Why Viral Berawala is bullish on NBFC sector
So a couple of things. In March we really saw a meltdown in small caps for maybe tax reasons or people were too busy with insurance etc. but since the 28th March almost 9% or 10% of companies who have a market cap of more than Rs 500 crores are up 80%.
Bharat Wire looks to buy CCPS issued in 2021 rejig
Promoter ML Mittal has told State Bank of India, Exim Bank, Union Bank of India and Bank of Baroda that the company will buy out the lenders’ CCPS ahead of the deadline.
SBI raises Rs 3,101 cr via AT-1 bonds at coupon of 8.10%
Perpetual bonds, which include AT-1 bonds, are considered riskier than other debt instruments, as they can be written down before equity, leading to losses for investors. Investors in YES Bank’s AT-1 bonds suffered such losses in 2020, while more recently, at a global level, perpetual bonds were written off following Credit Suisse’s bailout.
Analysts views on TCS divided after slowest Q1
US brokerage JP Morgan maintained its ‘underweight’ rating on TCS and cut the price target citing rich valuations at a time the IT giant reported its slowest June quarter ever.
TCS deal wins in Q1 spark a relief rally in IT stocks
Shares of TCS, Infosys, Tech Mahindra, Wipro, LTIMindtree, Persistent Systems, and L&T Technology Services ended 1-3% higher on the NSE, while the Nifty IT index ended nearly 2% higher.
A quarter of stress at Wipro, too, and yet IT may not be a bad year
India’s fourth-largest software exporter, Wipro, posted subdued Q2 results due to clients trimming budgets for discretionary projects. Revenue fell 1.6% to $2.7bn, and the company’s Q3 revenue projections suggest the top line may fall a further 2% to $2.7bn or increase by up to 1% to $2.8bn.
Hopes of Fed hike pause fuel gains in g-secs and rupee
The rupee and Indian bonds rallied despite a higher-than-expected local inflation reading, potentially lengthening the odds the Reserve Bank of India (RBI) will ease rates soon.