Sensex ends 303 pts higher fueled by Infosys, ICICI Bank; Nifty near 17950

CLOSING BELL: Within sectors, barring consumer durables, PSB and Metal indices on the Nifty logged in most gains, up over 1 per cent each, followed by IT and financial pockets

9:03 AM

CURRENCY ALERT: Rupee opens 29 paise stronger at 81.26/$

9:00 AM

Momentum Calls by Prabhudas Lilladher

8:58 AM

In a first, India among the top five ECM markets globally in 2022

India's outperformance comes on the back of a sharper decline in ECM activity in major markets such as the United Kingdom, Australia and Japan.

 

ECM activity globally took a hit on account of heightened volatility amid rising interest rates. READ MORE

8:56 AM

India may be in better economic shape to create a rupee trade zone

Before we examine the pros and cons of India’s attempts to create a rupee trading zone to wean itself off the US dollar, it would be illustrative to take a walk down memory lane. READ MORE

8:53 AM

Q3 results preview: Cement sector profits seen weak despite strong sales

Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. READ MORE

8:51 AM

Brokerages on HCL Tech

Citi: Neutral | TP: Rs 1,035

Bernstein: Market perform | TP: Rs 1,100

JPMorgan: Underperform | TP: Rs 880

8:48 AM

Brokerages on Infosys

Citi: Buy | TP: Rs 1,665

Bernstein: Outperform | TP: Rs 1,810

JPMorgan: Neutral | TP: Rs 1,700

Morgan Stanley: Outperform | TP: Rs 1,670

8:45 AM

Results today :: 18 companies to report Dec quarter results

8:42 AM

WATCH :: Will banks' earning growth touch its peak in Q3?

8:39 AM

Q3 preview :: Wipro Q3 revenues may rise up to 3% QoQ; flattish margins likely, say analysts

Higher furloughs and two-month wage hike impact, however, is likely to keep margins flattish at 15.1 per cent in Q3FY23, cautioned analysts. Profit-after-tax (PAT), meanwhile, is expected to rise up to 10 per cent QoQ to Rs 3,057 crore from Rs 2,659 crore. However, a decline of up to 7 per cent is likely on a year-on-year (YoY) basis, suggested reports from five brokerage houses. READ MORE

8:36 AM

HCL Tech Q3 results: Profit rises 18.8%, FY23 revenue guidance trimmed

The net consolidated revenue of the company grew 19.6 per cent to Rs 26,700 crore, compared to Rs 22,331 crore a year ago. The IT and business services segment, the largest contributor to the IT major’s revenue, grew 15.3 per cent YoY. READ MORE

8:34 AM

Infosys Q3 result: IT major's revenue grows 20% YoY to Rs 38,318 cr

"Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees”, said Salil Parekh, CEO and MD of the company. READ MORE

8:31 AM

Stocks to Watch: Infosys, HCL Tech, Wipro, Shriram Finance

Earnings Today: Wipro, Just Dial, L&T Finance Holdings, Aditya Birla Money, Choice International, Ganesh Housing Corporation, International Travel House and Rajnish Wellness to announce Q3 results on Friday.

 

Shriram Finance: Private equity firm Apax Partner is planning to sell its entire stake in Shriram Finance via block deals on Friday. READ MORE

8:27 AM

F&O Call: Bull Spread strategy on UltraTech Cement

We have seen long build up in the Ultratech Futures on Thursday, where we have seen 3 per cent addition (Prov) in Open Interest with price rising by 1.87 per cent.

The stock price has broken out from the downward sloping trendline on the daily chart. READ MORE

8:24 AM

Tech view :: Nifty consolidating in the range of 17,775 - 18,265

Nifty is still arrested within the consolidation range of 17,775 – 18,265. Strong buying interest has been witnessed whenever Nifty has traded below 17,800. I think the market is preparing for a big move on the dismissal of the trading range. READ MORE