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

8:51 AM

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. READ MORE

8:46 AM

RBI ban on BOB to source new customers via mobile app may hit its business

The Reserve Bank of India’s (RBI’s) curbs on Bank of Baroda (BoB) on-boarding new customers on mobile app ‘bob world’ may impact the bank’s incremental retail business sourced through the digital platform. This is likely to impact BoB’s ongoing festival season business. READ MORE

8:40 AM

Stocks to Watch: TCS, Adani Group, IndusInd Bank, Aster DM, RVNL, Cipla

IT sector to be in focus amid the Q2 results. Among other stocks, RBI has allowed SBI Mutual Fund to acquire up to 9.99 per cent stake in IndusInd Bank. READ MORE

8:36 AM

HCLTech Q2 preview: ASAP deal to aid revenue growth; guidance revision eyed

HCL Tech may post a 7 per cent yearly profit growth to Rs 3,739 crore, as per an average of six brokerage estimates, while revenue is pegged to rise 8.8 per cent YoY. READ MORE

 

8:31 AM

Republicans nominate Steve Scalise for House speaker but struggle to unite

Republicans nominated Rep. Steve Scalise on Wednesday to be the next House speaker but struggled to quickly unite their deeply divided majority and elect the conservative in a public floor vote after the historic ousting of Rep. Kevin McCarthy from the job. READ MORE

8:28 AM

Israel ups the ante against Hamas, vows to wipe them 'off face of Earth'

"Every Hamas terrorist is a dead man," Netanyahu said at a late-night briefing, flanked by Defense Minister Yoav Gallant and Benny Gantz, the head of Israel's opposition. READ MORE

8:23 AM

Infosys Q2FY24 preview: Subdued earnings on cards despite mega deal wins

Infosys' net profit may rise just 3.8 per cent on-year to Rs 6,252 crore, while revenue may see a 5 per cent uptick to Rs 38,437 crore. READ MORE

8:18 AM

ALERT:: Gift Nifty quotes at 19,851, hints at quiet start

8:12 AM

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

JSW Steel and ArcelorMittal, along with several private equity funds, have expressed interest in acquiring the iron ore mines and steel plant owned by ESL Steel, a part of Anil Agarwal’s Vedanta Ltd, sources close to the development said. READ MORE

8:07 AM

Nifty Pharma, Metal: Key levels to watch out on these range-bound indices

According to Ravi Nathani, an independent technical analyst, Nifty Pharma index is oscillating between 15,450 and 15,000; whereas, the Metal index is moving in a range of 6,900 to 6,600. READ MORE

8:01 AM

Key Q2 results today

 - Infosys

 

 - HCL Technologies

 

 - HDFC AMC

 

7:56 AM

TCS rethinks 25/25 strategy as it ends WFH, one of largest headcount drops

Tata Consultancy Services (TCS) is reconsidering its popular 25/25 work model strategy as it calls employees back to office five days a week. The company’s management said that 70 per cent of employees have already returned to office, underscoring the importance of aligning with the company’s values and work culture. READ MORE

7:51 AM

Asian Market Check:: Hang Seng soars 2%; Nikkei rallies 1.4%

Source: Yahoo Finance

7:47 AM

Fund flows:: FIIs net sellers; DIIs buy

FIIs net sold stocks to the tune of Rs 422 crore on Wednesday, while DIIs net bought shares worth Rs 1,032 crore.

7:42 AM

ALERT:: Brent Crude dips to near $85-mark

Source: Investng.com