Infosys slips 6% post Q3 results, drags down Nifty IT index
Infosys shares tumbled close to 6% on Friday as the company’s muted outlook after its third-quarter results prompted investors to cut their bets. “While Infosys reported decent numbers, the management expects a muted fourth quarter which led to the slide in the stock,” said Dharmesh Kant, head of research, Cholamandalam Securities. “Given that Infosys was…
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Infosys sell-off erodes Narayana Murthy’s family wealth by nearly Rs 1,900 crore
As Infosys shares nosedived by 5.8% on Friday to close at Rs 1,815.10 on the BSE, the Murthy familyβs fortunes took a significant hit, eroding approximately Rs 1,900 crore from their combined net worth. The family, holding a total 4.02% stake in Infosys, saw the value of their holdings drop to Rs 30,292 crore following…
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Why stock market is falling today: Sensex falls over 400 pts; Nifty below 23,200
Indian blue-chip equity indices, Sensex and Nifty50, fell on Friday, dragged down by drops in IT company Infosys and private lender Axis Bank following their quarterly results. The BSE Sensex was trading 430 points, or 0.56%, lower at 76,612. The Nifty50 was down 112 points, or 0.48%, trading at 23,199 around 12:10 am. Why is…
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Positive TCS outlook triggers rally in large-cap IT stocks
Mumbai: IT major Tata Consultancy Services (TCS) led the rally in large-cap information technology shares, as investors were encouraged by the country’s largest software exporter’s commentary on the demand outlook after its third-quarter results. The Nifty IT Index gained 3.4% on Friday, led by a 5% jump in TCS shares. The company posted a 12%…
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Sensex slips over 200 points, Nifty below 24,450; financial and bank stocks drag
Indian blue-chip equity indices, the Sensex and Nifty50, reversed their early gains and traded in the red on Friday. While IT stocks gained after TCS met its quarterly profit estimates, the gains were offset by declines in index heavyweight Reliance Industries and banking and financial stocks. The BSE Sensex was trading 217 points, or 0.28%,…
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Mcap of four of top-10 most valued firms erode by Rs 96,605.66 cr; HDFC Bank hit hard
The combined market valuation of four of the top-10 most valued firms eroded by Rs 96,605.66 crore last week, with HDFC Bank taking the biggest hit. While Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India suffered erosion from their valuation, Reliance Industries, Bharti Airtel, Infosys, ITC, Life Insurance Corporation of…
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Sensex rejig in December: Zomato to see $513 million inflows amid shake-up for 6 stocks!
The BSE Sensex undergoes its periodic rebalancing on December 23, to reflect Indiaβs evolving market dynamics. Food delivery firm Zomato replaces steel giant JSW Steel in the 30-share benchmark index. This reshuffle is set to drive $513 million in inflows into Zomato, while JSW Steel faces $252 million in outflows as institutional investors adjust portfolios,…
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Fed forecast roils D-St! Investors lose Rs 6 lakh crore within minutes as Sensex crashes 1,000 pts
Indian benchmark equity indices opened sharply lower on Thursday, with the Sensex plunging over 1,000 points and the Nifty falling below the 24,000 mark. The decline followed the US Federal Reserve’s projection of fewer interest rate cuts in 2025, citing persistent inflation and the resilience of the world’s largest economy. The market capitalization of all…
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Hot Stocks: Axis Capital upgrades Infosys; Investec reiterates sell on Wipro
Brokerage firm Investec reiterates its cautious stance on Wipro, citing limited downside but potential capital allocation improvements, Axis Capital upgrades Infosys, driven by growth stability and efficiency gains. Meanwhile, Goldman Sachs maintains a bearish outlook on D-Mart, pointing to rising competitive pressures and limitations in market penetration. We have collated a list of recommendations from…
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Bullish breakout to take Nifty higher: Analysts
Technical indicators point to a bullish trend as the Nifty breaks out of a five-week consolidation, paving the way for an extended rally toward 25,200 in coming weeks, according to analysts. Stocks like Reliance, SBI, Infosys, L&T, Axis Bank, PFC, Titan, National Aluminium, Natco Pharma, MCX, CDSL, BSE, and Indian Hotels are poised for short-term…
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