TECH MAHINDRA NEWS
These unlucky 13 equity mutual funds lost upto 20% in the first half of 2024
In the first half of 2024, 13 international equity mutual funds had negative returns. HSBC Brazil Fund lost 19.65%, Mahindra Manulife Asia Pacific REITs FOF 14.27%, Kotak International REIT FOF 8.71%, Mirae Asset Global Electric & Autonomous Vehicles ETFs FoF 8.11%, DSP World Agriculture Fund 4.27%, DSP World Energy Fund 3.42%, DSP World Mining Fund 1.
Industry needs to boost capital investments to capitalise on growth opportunities: Anand Mahindra
Anand Mahindra, Chairman of Mahindra Group, emphasized the need for Indian companies to increase capital investment to leverage growth opportunities domestically and globally. In the company's annual report for 2023-24, Mahindra highlighted India's strengthened position in global supply chains post-COVID, urging private industry to seize this momentum. He stressed that private investment is crucial for driving economic growth, creating jobs, and stimulating demand.
Reduce Tech Mahindra, target price Rs 1230: Prabhudas Lilladher
Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 142899.77 Crore) operating in IT Software sector.
Global Chess League to generate business value of $40 m in 5 years: Tech Mahindra CEO Mohit Joshi
The Global Chess League (GCL), initiated by Mahindra Group chairman Anand Mahindra, is projected to generate over $40 million in business value over five years, according to Tech Mahindra's CEO Mohit Joshi. The league, a joint venture with the International Chess Federation (FIDE), is the world's first franchise-based chess league and targets expansion into the US and Europe alongside India. With six current teams and plans to expand to eight teams from the third season, GCL aims to boost engagement across social media and TV platforms.
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
Flipkart-Swiggy deal talks; Corning’s India plan
Flipkart considered buying a stake in Swiggy months ago amid the rise of quick commerce. This and more in today’s ETtech Morning Dispatch.
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Tech heavyweights drive Sensex over 150 points higher, Nifty above 23,600
Indian benchmark equity indices opened higher led by information technology stocks after U.S. IT firm Accenture forecasted annual revenue growth above expectations.
Sensex, Nifty off to a muted start tracking Asian peers
The BSE Sensex was trading 64 points, or 0.08%, higher at 77,454. The Nifty50 was up 4 points, or 0.02%, trading at 23,520 around 9:27 am.
Zomato-Paytm deal will be a win-win for both companies: Pankaj Murarka
Stock might look a bit rich in terms of near-term valuations over the next four or six quarters, but I still think from a medium-term perspective the outlook for the group and business or stocks continues to remain positive.
Tech Mahindra arm Comviva strengthens leadership in Europe, North America
Tech Mahindra said in a statement, "The new leaders will aim to support Comviva's strategic vision based on the new market expansion and deep client relationship." To enhance its focus on growth, the digital solutions provider has divided Europe into two sub-regions. Salah Rich, head of Europe 1 subregion, will lead the markets of Italy, Russia and France.
Sensex, Nifty hit fresh lifetime highs on positive global cues after Fed outcome, US inflation print
Sensex and Nifty50 opened at a record high on Thursday following gains, driven by global stocks and a favorable U.S. inflation report.
Nifty hits fresh record high, Sensex soars 500 pts on gains in IT stocks; Fed outcome in focus
Indian shares kicked off Wednesday's trading session on a positive note, driven primarily by gains in IT stocks. The market anticipates the release of a crucial U.S. inflation report and the Federal Reserve's policy decision, both of which are likely to impact near-term interest rate trends.
Tech stocks tumble, dragging Sensex 203 pts lower, Nifty below 23,300 on US rate fears
The Sensex hit a day's high of 77,079, while the Nifty 50 touched 23,411.9 in early trade on Monday on the back of a Modi-fuelled state firm rally, but the IT stocks dampened the buoyant market mood. The IT index fell 1.83%, making it the top sectoral loser. Tech Mahindra, Infosys, Wipro, TCS, and HCLTech declined by 1%-3%, becoming the top losers on the Sensex. The market capitalisation of all listed companies on the BSE surged by Rs 1.59 lakh crore to reach Rs 425.08 lakh crore.
Sensex climbs 300 points ahead of RBI MPC decision, Nifty above 22,900
The domestic benchmark equity indices, Nifty50 and Sensex, started the day with gains on Friday, as investors anticipated the Reserve Bank of India's policy meeting. It is widely anticipated that the RBI will maintain interest rates unchanged during the meeting.
Sensex rises for 2nd session, settles 692 points higher, Nifty tops 22,800
Tech stocks led the rally with Narendra Modi set to return to power for a third straight term after two key allies pledged support to form a new government. Top Sensex gainers included Tech Mahindra, HCL Tech, SBI, NTPC, and Infosys which rose 3-4%. HUL, Asian Paints, M&M and Nestle India settled with cuts.
Mukesh Ambani faces pushback in Ghana over exclusive 5G deal
The Ghanaian government’s plan to launch a 5G network using a company partnering with Mukesh Ambani is a bad deal for the debt-ridden nation, which needs funds for critical development projects, the National Democratic Congress (NDC) said in a statement on Monday.
Kotak Bank's credit profile to improve over next 12 months: S&P
Despite the Reserve Bank of India's (RBI) restriction on onboarding new customers online and issuing fresh credit cards, Kotak Mahindra Bank is expected to improve its credit and funding profile over the next 12 months, according to S&P Global Ratings analyst Nikita Anand. Although the restrictions may impact the bank's growth and profitability, particularly in its high-yielding credit card segment, the bank has made significant technological advancements, including hiring a Chief Technology Officer.
Vineet Nayyar, ex-Tech Mahindra Vice Chairman, passes away at 85
Vineet Nayyar (Google Trends): Tech Mahindra's former Executive Vice Chairman passed away at the age of 85. He was a visionary leader and visionary who served as the Vice-chairman and MD of the Infrastructure Leasing & Financial Services (IL&FS) from 2018 to 2020. He has worked for the Indian government, international multilateral agencies, and the corporate sector over four decades.
IT & banking titans fuel 677-point Sensex rally in last leg of volatile session
The benchmark equity indices tossed between ups and downs throughout the day and finally settled in the green. US rate -sensitive IT stocks contributed majorly to the fag-end rally as all 10 constituents advanced, adding between 1% and 4.2%. Investors gained Rs 3.1 lakh crore on Thursday.
Sensex, Nifty off to tepid start as volatility keeps investors on sidelines
Indian shares remain flat with high volatility. Foreign selling and election uncertainty persist, impacting market sentiment. L&T, Tech Mahindra, TCS, NTPC, ITC, JSW Steel in red; M&M, Maruti, Tata Motors gain.
F&O stocks: Tech Mahindra, GMR Infra among 5 stocks with short buildup
In Tuesday's trading session, the following five stocks witnessed a build of fresh short positions. Let us first understand how this conclusion is reached whether the stock has seen a buildup of fresh short position or not.
Positive global cues, auto stocks drive Sensex 300 points higher; Nifty above 22,700
Indian equities, led by Reliance Industries, showed gains. Various sectors surged, with expectations of steady Fed rates in May 2024. Trent rises over 6% post solid Q4 results.
Bajaj Finance outlook reverses market trend, drags Sensex 609 points down after 5-day win run
The 30-share BSE benchmark Sensex declined 609 points or 0.82% to settle at 73,730. The broader NSE Nifty dropped 150 points or 0.67% to end at 22,420. The market breadth was, however, skewed in the favour of the bulls. About 1,996 stocks gained, 1,784 declined, and 133 remained unchanged on the BSE.
Sensex, Nifty set to rise for 6th session in a row led by gains in Tech Mahindra
Indian benchmark indices rose led by various sectors and specific stocks. Sensex and Nifty50 gained momentum, with positive outlooks from experts and global markets. Tech Mahindra showed significant growth post Q4 profits rise.
Stocks in news: Bajaj Finance, Vedanta, Tech Mahindra, ICICI Sec, SBI Card, SBI Life
Metal major Vedanta on Thursday reported a net profit of Rs 1,369 crore for the March-ended quarter, down over 27% (YoY) compared to Rs 1,881 crore reported in the year-ago period. Consolidated revenue from operations for the quarter stood at Rs 34,937 crore, down 6% YoY over Rs 37,225 reported by the company in Q4FY23.
Stocks in news: Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank
Shares of Bajaj Finance, Nestle, Tech Mahindra and IndusInd Bank will be in focus as the companies will announce their quarterly results later in the day.
Tech Mahindra, Trent among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Friday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
Add long positions on Monday on dips: Anand James, Geojit Financial Services
“We will look to add longs on Monday, on dips, which should not exceed 22045, while a direct fall below 21975 will re-activate bearish moves, this time aiming for 21500,” says Anand James, Chief Market Strategist, Geojit Financial Services.
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