Tech Mahindra shares jump 3% after Q1 earnings beat estimates. What Nomura, Nuvama, other brokerages now expect
Tech Mahindra shares surged after the IT major reported better-than-expected Q1 FY27 results, with net profit rising 28% YoY to Rs 1,465 crore and revenue climbing 18% to Rs 15,712 crore, supported by broad-based growth, strong deal wins, and margin expansion.
Gold set for biggest weekly fall in six as Iran war fans inflation worries
Gold prices saw a rebound on Friday, yet are set for a significant weekly loss. Renewed clashes between the United States and Iran have lifted oil prices considerably. This escalation has stoked inflation concerns and strengthened expectations for higher interest rates. Fed officials are signaling openness to rate hikes amid persistent inflation. Economic data shows […]
Negative Breakout: These 8 stocks cross below their 200 DMAs
In the Nifty500 pack, eight stocks’ close prices crossed below their 200 DMA (Daily Moving Averages) on July 16, according to stockedge.com’s technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock’s price is below its long-term trend line. Traders use the 200 DMA as a […]
Logistics firms set for strong Q1 revenue growth despite margin pressure
Logistics sector revenue is poised for healthy growth in the June quarter. This expansion is driven by e-commerce demand and increased supply-chain outsourcing. However, elevated fuel costs and pricing pressures may impact profitability across companies. Container Corporation of India and Delhivery anticipate revenue increases with margin challenges. Blue Dart Express and TCI also expect revenue […]
MSCI rejig could bring $2.3 billion into Indian stocks
An upcoming MSCI index rebalancing may introduce about $2.3 billion in passive investment flows. The global index provider will announce changes on August 12 after market close. Several Indian stocks are likely candidates for inclusion in the MSCI India Standard Index. These changes will impact index-linked exchange-traded funds and mutual funds. The rebalancing will become […]
Global Market Today: Asian stocks drop after chip selloff, oil gains
Asian stocks declined as chipmakers pulled down Wall Street amid valuation concerns. Oil prices climbed higher this week due to escalating Middle East hostilities. Investors are questioning the sustainability of massive artificial intelligence investments and tech valuations. Heightened geopolitical tensions fueled inflation worries and potential interest rate hikes. Consumers continue spending and the labor market […]
Wipro’s strong deal wins offset by weak revenue and margin decline
Wipro reported strong order bookings but saw revenue decline and margins contract. The company’s management noted no significant demand changes from the prior quarter. Future revenue guidance remains cautious, expecting a slight drop or marginal improvement. However, annual revenue trends show moderation, aided by acquisitions and steady orders. Stock valuation reflects investor sentiment, awaiting revenue […]
Rupee slips 9 paise as dollar demand keeps up pressure
The rupee closed at 96.35, nine paise weaker from its previous close of 96.26 as consistent dollar demand continued to pressure the currency. The currency traded at an intraday low of 96.38 per dollar, a level at which further weakness was contained by RBI intervention, traders said.
SpaceX selloff’s an ominous sign as lockup expiry looms
SpaceX shares have fallen below their initial public offering price, signaling potential future volatility. Insider restrictions are set to lift soon, which could increase available trading shares. This event may impact the company’s market valuation significantly in the coming months. Analysts remain largely positive, recommending buys despite the recent stock decline. The company’s future performance […]
An eye for dollars: SBI brings in $1.9 billion in foreign-currency resources via special scheme, way ahead of peers
State Bank of India mobilized nearly two billion dollars under a central bank incentive. This amount significantly surpasses other state-owned and private sector banks’ efforts. Other lenders like Bank of Baroda and Canara Bank raised smaller sums. Banks are now focusing on attracting overseas currency inflows from the Indian diaspora. This strategy aims to provide […]