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TCS, GNFC among 5 stocks with short covering
Short covering refers to the buying of shares to close an existing short position, signaling a shift from extreme bearishness to bullishness. In Tuesday's (July 16) trading session, five stocks saw short covering. Here's the list:
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 84.55 points up at 24586.7
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 87.8 points up at 24589.95
HCL Tech shares surge 4% on Q1 profit beat. Time to hold or buy?
HCL Technologies reports a 20% YoY growth in net profit, reaching Rs 4,257 crore for the quarter ended June 2024. Brokerages maintain positive views on the stock with target prices ranging from Rs 1,720 to Rs 1,850.
TCS shares may rally towards Rs 4,400 soon after Friday's breakout: Rupak De
In the pre-budget week, volatility might spike due to varied expectations across different sectors. Stocks within budget-sensitive sectors might see increased interest. However, if the budget fails to meet expectations, those particular stocks could experience significant corrections.
Expect tailwinds for IT sector in near term: Anshul Saigal
There is a lot of excitement around what the opportunity is and which is why you are seeing at higher levels more and more people coming in and buying. But it is precisely in such high bullish times that you see seeds of bearish times ahead and which is why I would be cautious in this space going forward.
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HCL Tech’s weak Q1 revenue hints at demand concerns
HCL Tech's Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS.
TCS announces interim dividend of Rs 10 per share, fixes record date
TCS shares will begin trading without the upcoming dividend included in the stock price on or before the record date. This change impacts which shareholders are eligible to receive the dividend payment, announced alongside the company's Q1 results showing an 8% increase in consolidated net profit to Rs 12,105 crore.
TCS shares surge 7% on strong Q1 show, lifting D-Street to fresh record highs
TCS Share Price: Shares of TCS surged 6% to Rs 4,169 in early NSE trading after reporting higher-than-expected earnings for the June quarter. Jefferies upgraded TCS and raised its price target, while CLSA and JPMorgan maintained ratings with higher targets. Domestic analyst Nuvama also increased its target price.
Azad Engineering shares hit 5% upper circuit on order win from Siemens Energy Global
Azad Engineering shares rose by 5% following a major contract win with Siemens Energy Global GmbH & Co. KG, Germany. The company specializes in manufacturing critical components for various industries and has shown significant growth in its stock price.
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
Wait for better opportunities to buy shipyard companies: Sandip Sabharwal
The bad part is the valuations are excessive at this stage, which is true for many of the sectors which are doing well, their visibility is very good, the valuations are also very high.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 54.35 points up at 24370.3
Hot Stocks: Brokerage take on TCS, Zomato, Federal Bank, ABB, Vedant Fashions and Prestige Estates
Jefferies upgraded TCS post Q1 earnings, increasing its target. UBS reviewed Zomato, Federal Bank, and ABB India. Morgan Stanley reaffirmed 'Buy' for Prestige Estates, while Axis Capital downgraded Vedant Fashions.
TCS is the largest IT company and the safest; expect better profitability down the year: Mahantesh Sabarad
TCS reported Rs 62,000 crore revenue with a 24.6% margin due to execution delays and profit decline. Mahantesh Sabarad is optimistic, recommends Tata Tech for midcaps. Accenture sees high deal flow but delays. US dollar revenue at $7.5 billion. AI improves IT support, cyber security; SG&A expenses impact margins. Enterprise solutions might decline, back-end services to grow.
Big movers on D-Street: What should investors do with TCS, Hindalco and Shipping Corp?
Sensex and Nifty closed down Thursday amid profit booking before quarterly results. TCS fell 0.18%, Hindalco rose 0.25%, Shipping Corp surged 20%. Analysts recommend using VWAP, RSI for potential momentum, and maintaining stop losses. TCS target: 4030-4050; Hindalco: 705-715; Shipping Corp: 350-360, hit upper circuit, swing high resistance, trailing stop loss.
TCS shows early signs of project ramp ups but demand recovery may take more time
In addition, while the country’s largest IT exporter continued to bag fresh orders, the quantum of total contract value (TCV) was underwhelming when compared with the previous quarter.
Stocks in news: TCS, HCL Tech, Anand Rathi Wealth, Prestige Estates, RIL
Domestic markets closed steady with focus on TCS, HCL Tech, Anand Rathi Wealth, and others for their first quarter results. Companies like RIL's Ethane Crystal LLC and Prestige Estates face challenges. GTPL Hathway shows growth in revenue. Oriental Rail Infra secures a significant order from Indian Railways. Adani Wilmar expands stake in OCIPL.
Anand Rathi Wealth Q1 results: PAT, revenue jump 38% YoY; AUM surges 59% to Rs 69,018 cr
The MF revenue surged by 70% YoY to Rs 89 crore, while net inflows grew by 173% to Rs 3,364 crore. Equity mutual fund net inflows saw a significant increase of 462%, reaching Rs 2,091 crore.
TCS Q1 Results: Cons PAT rises 9% YoY to Rs 12,040 crore, beats estimates
TCS Q1 Results: IT bellwether TCS reported a 9% YoY growth in its June quarter consolidated net profit, reaching Rs 12,040 crore, compared to Rs 11,120 crore in the same quarter last financial year. This profit exceeded the Street estimate of Rs 11,900 crore. Additionally, the company's board recommended a dividend of Rs 10 per share.
TCS Q1 Preview: PAT may grow 8% YoY to Rs 11,984 crore, revenue uptick seen at 4.8%
TCS expects an 8% YoY net profit increase to Rs 11,984 crore and a 4.8% revenue growth to Rs 62,234 crore. Estimates from Kotak, Prabhudas Lilladher, and ICICI Securities highlight BFSI and retail gains. EBITDA is at Rs 16,572 crore. Q1 results on July 11. EBIT margins to decrease, impacted by hiring, wage revisions, deal wins, and large deals ramp-up.
Q1 results today: TCS, Anand Rathi Wealth among 17 companies to announce earnings on Thursday
Tata Consultancy Services (TCS) and 16 other companies, including Akme Fintrade, will report Q1 results on Thursday. TCS anticipates an 8% profit rise. Prabhudas Lilladher and ICICI Securities provided top estimates. Kotak Equities predicts 5% sales growth. Revenue growth from strong orders; weakness in financial services. EBITDA up 10%; wage revision affects EBIT margins; sequential growth; weak telecom revenues expected.
Stocks in news: Nykaa, TCS, Tata Elxsi, Glenmark Life, YES Bank, Siemens
Markets fell half a percent. TCS, Tata Elxsi, Anand Rathi Wealth, and Akme Fintrade Q1 results are in focus. Canada Pension Plan sold Nykaa shares at Rs 174 apiece. Glenmark promoters to sell a 7.85% stake. Moody's affirmed YES Bank's Ba3 rating. Siemens and RVNL won the Bangalore Metro Rail Corp project. Kesoram posted a Rs 62 crore Q1 loss.
TCS faces a muted Q1, trend in project ramping holds the key for Q2 show
The country's largest software exporter is likely to report 1.4% sequential increase in the revenue at $7,466.1 million, according to the average of estimates by ETIG and nine brokerages.
GM Breweries Q1 results: Profit jumps 25% YoY, revenue up 3%
GM Breweries (GMBL) posted a Q1FY25 profit of Rs 24.94 crore and Rs 600.59 crore revenue, up 25% and 3%. Total income Rs 604.22 crore, up 4% YoY. Largest in Maharashtra’s country liquor (CL) market, owns GM Santra, GM Doctor, GM Limbu Punch, GM Dilbahar Sounf.
Q1 results, FII action among 10 factors to impact D-Street mood this week
Nifty gained 1.2%, driven by IT, energy, and pharma stocks. U.S. labor data, TCS earnings, Rupee vs. Dollar, Bank Nifty, oil prices, FIIs, IPO action, and dividends will influence markets next week. Bulls maintain strength with positive sentiment and broader market participation, expecting some consolidation.
Stock Radar: TCS showing signs of bottoming out; likely to reclaim 4,000 level
The IT stock hit a high of Rs 4,254 on the S&P BSE Sensex on March 18, but experienced a subsequent decline, reaching levels around 3,500 points. A rebound followed, with the stock reaching a low of approximately 3,600 points on June 4, 2024. A steady rise ensued, propelling the stock to reclaim its 50-day moving average on the daily charts — a significant technical level. A buy signal generated by the Supertrend indicator on June 27, 2024, further suggested that the upward momentum was likely to continue.
Nomura turns bullish on Indian IT sector, highlights Infosys, Coforge as top picks
Nomura bullish on Indian IT sector with top picks Infosys and Coforge, upgrades ratings for Wipro and HCL Technologies. Anticipates GenAI adoption boosting cloud services demand.
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