Sensex, Nifty snap 2-day winning run as IT stocks dip post weak Q2 of TCS

Closing Bell on Thursday, October 12, 2023:Infosys and Tech M were the worst hit on the 50-share index, dropping nearly 3 per cent each, followed by Apollo Hospitals, TCS, HCL Tech, LTIMindtree, Wipro

12:28 PM

PCBL rallies 6% on securing two patents; stock up 80% since April

In past one month, PCBL has outperformed the market by surging 30 per cent, as compared to 1 per cent decline in the S&P BSE Sensex. READ

12:12 PM

Maruti eyeing bigger pie of global car market, aims to 3X exports by 2030

Maruti Suzuki reported its best-ever exports which reached 259,333 units for the financial year 2022-23. READ

11:58 AM

Jio-Airtel battle for home Wi-Fi connections as they aim for higher Arpu

The mobile Arpu for Airtel stood at Rs 200 at the end of the first quarter of FY24. On the other hand, Airtels's Arpu for home services stood at Rs 608. READ

11:42 AM

Zomato soars 4% on heavy volumes, market-cap nears Rs 1 trillion mark

Analysts at Kotak Securities believe Zomato's YoY GMV growth bottomed out in Q1FY24 at 14 per cent YoY and should witness improving performance Q2FY24 onward. READ

11:29 AM

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period. READ

11:15 AM

No fireworks from TCS Q2 nos, headcount dip keeps outlook bleak: Analysts

TCS Q2 results: There is limited visibility on demand recovery for the second half of FY24; Rs 17,000 crore buyback quantum is also below Street expectations, said analysts. READ

11:03 AM

MOIL soars 12%, hits over 10-yr high after Quant MF buys 1.1 million shares

On October 11, Quant MF Gilt Fund has purchased 1.1 million equity shares, representing 0.54 per cent of total equity of MOIL, via block deal on the NSE, the exchange data shows READ MORE

10:49 AM

ALERT :: Porinju Veliyath's name appears among Singer India's shareholders

>> Holds 1.02% stake at the end of Q2

10:41 AM

ALERT :: Societe Generale's name appears in Marathon Nextgen's shareholding

>> Holds 1.59% stake at the end of Q2

10:31 AM

JP Morgan adds India to emerging market debt index; may boost G-secs

On September 20, 2013, Raghuram Rajan, the Reserve Bank of India Governor at the time, was in a conference call with the media. The Central Bank had announced its latest monetary policy earlier that day and the Governor, who had taken charge 16 days earlier, was in an expansive mood. READ MORE

10:16 AM

TCS dips 1% as Q2 result misses estimates; announces Rs 17,000 cr buyback

Shares of Tata Consultancy Services (TCS) dipped 1 per cent to Rs 3,560.05 on the BSE in Thursday’s intra-day trade after the IT major reported net profit of Rs 11,342 crore, up 8.7 per cent year-on-year (YoY) the for September 2023 quarter (Q2FY24). Sequentially net profit grew 2.42 per cent. READ MORE

10:01 AM

JSW Steel, ArcelorMittal in race to buy Vedanta mines, steel assets

While the Vedanta group has indicated an enterprise valuation of Rs 10,000 crore for these assets, potential buyers are seeking a reduced valuation, the sources said. Vedanta had acquired the erstwhile Electrosteel Steels’s plant having a production capacity of 2.5 million tonnes READ MORE

9:46 AM

Comment :: 'Markets moving up on short covering'

>> Steadily declining trend in the dollar index and the US bond yields, declining crude and sharp dip in FII selling in the cash market are big positives for the market.

>> If the US CPI inflation data, expected tonight, dips below 3.6 % that will be a shot in the arm for the bulls.

 

>> The concerns triggered by the Israel-Hamas conflict had resulted in the creation of big short positions in the market, and now these shorts are being covered pushing the markets up.

>> The market will wait for the results of Infosys and HCL Tech due today for taking a view on the IT segment. The rally in banking stocks have more steam left.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:37 AM

ALERT :: Sensex slips into the red

9:35 AM

Cipla in the red on receiving EIR from USFDA

>> The company's unit InvaGen Pharmaceuticals has received an EIR from the US FDA post inspection of its Long Island facility as Voluntary Action Indicated.