GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of Indian information technology companies fell sharply on Wednesday, with Coforge, Wipro and other major IT firms declining as much as 5.4%, amid a broader global equity sell-off triggered by renewed U.S.-China trade tensions. The Nifty IT index slid 2.4%, emerging as the biggest drag on benchmark indices, as investors reacted to Washington’s confirmation of steep 104% tariffs on Chinese imports, which are set to take effect after midnight. The tariff escalation, announced by former U.S. President Donald Trump, stoked fears of a protracted trade war and potential global stagflation, rattling equity markets across Asia and Wall Street. Shares of IT firms, which earn a significant portion of their revenue in U.S. dollars, including Coforge, Wipro, Mphasis, Tech Mahindra and Persistent Systems dropped between 3% and 5.4%. Other IT players like LTIMindtree, Infosys, HCL Technologies and Tata Consultancy Services declined between 1.5% ...

[hfe_template id='11223'] [ad_1] As uncertainty in the domestic equity market looms, investors of IT stocks face a peculiar dilemma of choosing between stability and growth potential. An analysis of top 10 tech counters shows tier-1 (top 5 by m-cap) scrips witnessing a relatively less severe fall in 2025 while trailing tier-2 (next 5) stocks in terms of 1-year returns. Average returns of top 5 IT stocks - Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra - on the year-to-date basis stand at negative 16% with the highest fall of 20% recorded in HCL Tech and the lowest fall of 13% in Wipro. Meanwhile, average 1-year returns of these stocks are at 4.4% with Tech Mahindra and Wipro remaining best performers with double-digit returns. In case of tier-2 stocks i.e. Oracle Financial Services Software (OFSS), Coforge, LTIMindtree, Persistent Systems and Mphasis, the average fall in 2025 so far stood at 22%. OFSS witnessed the steepest fall of 39...

[hfe_template id='11223'] [ad_1] India's IT sector rose nearly 2% on Tuesday, tracking overnight gains in U.S. tech stocks and global market relief after U.S. President Donald Trump signaled flexibility on planned tariffs, easing investor concerns over a potential trade war. Shares of all major Indian IT companies, which earn a significant portion of their revenue in U.S. dollars, advanced on the day. L&T Technology Services, Coforge, and Mphasis climbed between 1.4% and 2%, while Tata Consultancy Services (TCS), Persistent Systems, HCL Technologies, and Infosys added between 1.1% and 1.2%. Shares of LTIMindtree, Wipro, and Tech Mahindra rose by up to 1%. The gains in technology stocks helped lift sentiment across Indian markets. The NSE Nifty 50 was up 0.39% at 23,751.5 as of 9:15 a.m. IST, while the BSE Sensex gained 0.4%, reaching 78,296.28. All 13 major sectors logged gains at the open, with the broader small-cap and mid-cap indexes rising by about 0.7% each....

[hfe_template id='11223'] [ad_1] 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 the stock market falling today? 1) Decline in IT stocks The market's decline was largely driven by a fall in IT stocks, with the Nifty IT index dropping by 2.5%. Infosys led the downturn, falling 6%. Although it beat quarterly revenue estimates, Morgan Stanley noted that the higher component of third-party items in its deal pipeline "raises concerns over the quality of results." Infosys alone contributed 366 points to the overall decline in the Sensex, with other IT stocks, including TCS, LTIMindtree, and Persistent Systems, also experiencing losses of up to 3%. 2) Banking stocks plunge Banking stocks, ...

[hfe_template id='11223'] [ad_1] Equity indices rallied for the third session on the trot on Thursday, helped by a rally in global markets after lower-than-expected US inflation ignited hopes of more rate cuts by the Fed. Stocks that were in focus include names like SBI Life, which rose 3% and DMart, which gained 1% and LTIMindtree, whose shares jumped 2.5% on Thursday. Here's what Viral Chheda, Sr Analyst at SSJ Finance and Securities, recommends investors should do with these stocks when the market resumes trading today. SBI Life After making the Double Top around 1936 in September 2024, price has witnessed a bear run to make the low of 1377 odd levels. Price has given almost 30% downside move from its higher level of 1936 odd levels. Price has formed a Lower Top Lower Bottom Pattern. At the lower levels after moving in the range of 1377-1487, price has breached the consolidation phase and moving above that level indicates further upside movement. For the Long term...

[hfe_template id='11223'] [ad_1] Indian frontline indices ended the week with 2.3% cuts amid selling pressure in most sectors, primarily in banks, auto and pharma. On Friday too, they ended lower. While the S&P BSE Sensex settled at 77,378.91, down by 241.30 points or 241.30%, the broader Nifty closed at 23,431.50, lower by 95 points or 0.4%. Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that he sees the bearish pressure continue and to intensify as the index closed below 23,500 for the first time in several days. "The index remains below the crucial 50 EMA, reaffirming a bearish trend. Furthermore, the RSI remains in a negative crossover, signaling weak momentum. Sentiment stays subdued in the short term, with the potential for a decline toward 23,300 or 23,000. On the upside, resistance is observed at 23,550–23,600," De said. Here are 5 stock recommendations for Monday: Buy LTIMindtree at Rs 6,124.40 Stop Lo...

[hfe_template id='11223'] [ad_1] Post the breakout above 6,400-6,450, short-term traders can look for a target of Rs 7,246 in the next 4-6 months, suggest experts. Synopsis The IT stock peaked at ₹6,575 on September 19, 2024, but lost momentum. In November, it found support above the 21-week moving average and staged a rebound. On the daily charts, the stock found support above the 200-DMA in October before rebounding. A swift recovery from key moving averages signals bullish momentum is likely to persist. LTIMindTree Ltd, a part of the IT sector, has formed a Cup & Handle pattern on the weekly charts and traders can wait for a breakout before going long on the stock.Post the breakout above 6,400-6,450, short-term traders can look for a target of Rs 7,246 in the next 4-6 months, suggest experts.The IT stock hit a high of Rs 6,575 on September 19, 2024, but it failed to hold on to the momentum. It found support above the 21-week moving average in BY ETMarkets.com Nov ...

[hfe_template id='11223'] [ad_1] The Nifty IT index reached a record high on Tuesday, climbing over 1.4% to 44,240, with all 10 of its constituents in the positive. As of 10:05 a.m. on Tuesday, the index was trading at 44,201, reflecting a 1.34% increase. Infosys led the pack, rising 2.4%, followed by LTIMindtree, Tech Mahindra, LTTS, Wipro, Persistent Systems, and HCL Tech, which all saw gains between 1% and 2%. Despite significant selling pressure across the broader market in November, the Nifty IT index has outperformed, rising more than 9% this month alone. On a year-to-date basis, the index has surged 23.7%, compared to an 11.5% rise in the Nifty 50. Several factors are driving this rally. The potential end of the US Federal Reserve's interest rate hikes and lower-than-expected inflation have improved sentiment for the IT sector. Investors are anticipating a rebound in corporate tech spending, which is vital for Indian IT firms, as the US is their largest market...

[hfe_template id='11223'] [ad_1] Shares of LTIMindtree (LTIM) jumped 1% to their day’s high of Rs 5,988.80 on the BSE as the Life Corporation of India (LIC) announced that it has increased its stake from 5.033% to 7.034% in the company. “Pursuant to Regulation 30 of the Listing Regulations, this is to inform that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of LTIMindtree Ltd. (“Company”) from 1,49,06,665 to 2,08,34,009 i.e., 5.033% to 7.034% of the paid-up capital of the said Company,” said LIC in an exchange filing. There has been a net increase of 2.001% in holding during the period from March 20, 2024, to November 19, 2024, and the transaction has been an open market purchase. For the second quarter that ended September 2024, IT services company LTIMindtree reported 8% year-on-year growth in its consolidated net profit at Rs 1,251 crore while the revenue from operations in the reporting period rose 6% yea...

[hfe_template id='11223'] [ad_1] Shares of Indian IT companies came under pressure during Monday's trading session following comments from Federal Reserve Chair Jerome Powell on Thursday. Powell suggested that the U.S. Federal Reserve is likely to slow down interest rate cuts in the coming months, citing persistent inflation and the need to monitor its trajectory before making further decisions. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in a speech to business leaders in Dallas. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully." Powell emphasized that policymakers still view inflation as being "on a sustainable path to 2%," allowing the U.S. central bank to adjust monetary policy gradually without aiming to slow down the economy. Also Read: FPIs reduce pace of selling in Indian equities in two weeks of November However, the exact n...

[hfe_template id='11223'] [ad_1] Indian Railway Finance Corporation Share Price 155.97 11:45 AM | 1 Oct 2024 -2.75(-1.74%) Suzlon Energy Share Price 80.11 11:45 AM | 1 Oct 2024 0.07(0.08%) Indian Renewable Energy Development Agency Share Price 231.93 11:45 AM | 1 Oct 2024 -2.95(-1.26%) Tata Motors Share Price 981.55 11:45 AM | 1 Oct 2024 6.9(0.71%) YES Bank Share Price 22.45 11:45 AM | 1 Oct 2024 -0.04(-0.14%) HDFC Bank Share Price 1725.7 11:45 AM | 1 Oct 2024 -6.35(-0.37%) NHPC Share Price 95.1 11:45 AM | 1 Oct 2024 0.15(0.16%) Rail Vikas Nigam Share Price 524.5 11:45 AM | 1 Oct 2024 -6.96(-1.31%) State Bank of India Share Price 795.95 11:45 AM | 1 Oct 2024 8.06(1.03%) Tata Power Company Share Price 485.0 11:45 AM | 1 Oct 2024 2.4(0.5%) Tata Steel Share Price 167.1 11:45 AM | 1 Oct 2024 -1.46(-0.87%) Adani Power Share Price 653.4 11:45 AM | 1 Oct 2024 -2.75(-0.42%) One97 Communications Share Price 706.55 11:45 AM | 1 Oct 2024 18.25(2.66%) Punjab National Bank Share Pric...

[hfe_template id='11223'] [ad_1] Brokerage firms such as CLSA have an underperform rating on Bajaj Auto, while Citi has a sell call on LTIMindtree. Kotak has initiated coverage on Emcure Pharma with an 'add' rating. Meanwhile, Morgan Stanley has an overweight rating on Bajaj Finance. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Bajaj Auto: Underperform | Target price: Rs 7,000 CLSA has maintained an underperform rating on Bajaj Auto with a target price of Rs 7,000. Bajaj and Triumph have launched two motorcycles positioned as entry-level options, and CLSA believes that the Speed T4 effectively balances price and performance. While the launch looks promising, caution is advised due to increasing competitive intensity in the premium motorcycle segment, growth moderation in the over-250cc motorcycle segment, and continued pressure in key export markets. Citi on LTIMindtree: Sell | Target price: Rs 5,635 Ci...

[hfe_template id='11223'] [ad_1] Domestic markets edged higher for the second consecutive week, moving closer to record highs, supported by favorable cues. In today's trade, shares of Trent, BEL, LTIMindtree, Ambuja Cements, Alembic Pharma, Transport Corp among others will be in focus due to various news developments. Transport Corporation Transport Corporation of India announced that it will conduct its first-ever buyback of its equity shares worth up to Rs 160 crore. Trent, BEL, LTIMindtree Tata Group's lifestyle company Trent (Trent) and state-run Bharat Electronics (BEL) are the latest inclusion into the Nifty 50 index while LTI Mindtree (LTIM) and Divi's Laboratories have made an exit. Vodafone Idea Vodafone Idea has made an exit from Nifty 500 index and Nifty Midcap 100 as part of a semi-annual rejig of NSE's various indices. Reliance Power Anil Ambani had resigned from the board of directors of Reliance Infrastructure and Reliance Power pursuant to...

[hfe_template id='11223'] [ad_1] Shares of LTIMindtree on Thursday surged 3.5% on BSE to its day high of Rs 5,754 despite the company reporting a 1.5% year-on-year (YoY) rise in consolidated net profit at Rs 1,134 crore for the quarter ended June 30, 2024. The revenue from operations for the reported quarter stood at Rs 9,143 crore, higher by 5% YoY over Rs 8,702 crore reported in the corresponding quarter of the last financial year. Here is what analysts have to say about the Q1 results: Jefferies: Underperform | Target price: Rs 4,920 Jefferies has an underperform rating on LTIMindtree and has hiked the target price to Rs 4,920 from Rs 3,960. Q1 results were on the expected lines. Revenue growth revival across key verticals may be seen while the growth outlook seems to be improving. There are limited levers for margin expansion. Investec: Sell | Target price: Rs 5,370 Investec has maintained a sell rating on the stock and hiked the target price to Rs 5,370 from Rs 4,64...