GAGA Share Market News

[hfe_template id='11223'] [ad_1] ET Intelligence Group: The stock of Persistent Systems, a mid-tier IT services company, has gained 10% since its second-quarter result announcement last Tuesday, taking the three-month return to 20%. The stock has remained buoyant following the company's strong business momentum in the September quarter, even as the broader market has shown weakness. The key business vertical of hi-tech and emerging industries, where the revenue growth has been sluggish over the past few quarters, is likely to show a turnaround given the new deal wins. The company's management also expects to improve the operating margin in the second half of the fiscal year with rising utilisation levels. The company reported above 5% sequential revenue growth for the second consecutive quarter. Revenue grew by 5.3% to $345.5 million, driven by the banking, financial services and insurance (BFSI), and healthcare verticals, contributing 59% to the top line. Each o...

[hfe_template id='11223'] [ad_1] Shares of leading IT services company Infosys will be in focus after the company announced its second quarter results, where it posted a 5% growth in net profit and revenues. The Bengaluru-based tech major has also raised its guidance upwards to 3.75-4% for the current fiscal year. The company reported strong revenue growth up 3.1% quarter-on-quarter in constant currency in line with analysts estimates. EBIT margin was flat at 21.1%, showing a marginal decline of 0.1% year-on-year. Operating margins for the quarter were driven by continued benefits from value-based pricing and utilization despite higher employee payouts. The growth during the quarter was broad-based with good momentum in financial services. Large deal TCV for the quarter stood at $2.4 billion, which is down 41% quarte-on-quarter. Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.com View ...

[hfe_template id='11223'] [ad_1] Shares of Wipro will be in focus on Friday following IT major's July-September quarter earnings where the company reported a 21% jump in net profit to Rs 3,209 crore for the quarter ended September 2024 versus Rs 2,646 crore logged in the year-ago period. The figure was higher than ET Now poll estimates of Rs 3,050 crore. Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower over Rs 22,516 crore posted in the corresponding quarter of the previous financial year. Gross revenue was at Rs 22,300 crore ($2,662.6 million), an increase of 1.5% QoQ and a decrease of 1% YoY. IT services segment revenue was at $2,660.1 million, an increase of 1.3% QoQ and a decrease of 2% YoY. Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY. “We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million,” Wipro said in a compa...

[hfe_template id='11223'] [ad_1] IT services company Wipro will consider issuing bonus shares to investors when its board will meet to approve second quarter results. If declared, this will be the 14th time the Bengaluru-based company will be handing out bonus shares to investors, which is the highest for any Nifty company. Wipro first issued bonus shares to investors in 1971 and its last bonus announcement was in 2019, where it handed out 3 additional shares for every 1 share held in the company. The company has rewarded investors with a bonus issue 6 times between 1981 and 1996 and later in 1997, 2004, 2005, 2010, 2017 and 2019. In the last 10 years, Wipro gave out bonus shares 5 times. In comparison, Infosys had issued bonus shares 8 times in its history as a listed company. TCS, on the other hand, issued bonus shares only on 3 occasions. A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to dec...

[hfe_template id='11223'] [ad_1] The technology sector is poised for a robust recovery following a period of discretionary spending cuts. Several factors indicate an upward trend in the coming years, including shifts in client behaviour, increased technology investments, and the rise of new technologies such as Generative AI (GenAI). Key verticals like BFSI, healthcare, and manufacturing are expected to drive this growth. As interest rates in the US stabilize, capital-intensive sectors will likely reallocate funds towards IT services, supporting the expansion of digital infrastructure and modernization efforts. Global Capability Centers (GCCs), which have evolved from cost-saving hubs to strategic IT players, are now playing a pivotal role in the allocation of technology dollars. These centres, especially for Fortune 500 companies, are taking on more significant responsibilities, leading to a shift in how service vendors operate. Despite this shift, service vendors remai...