Budget 2020

Stock market update: IT stocks gain; MPhasis climbs 2%

NEW DELHI: IT stocks were trading on a positive note at 01:59PM (IST) on Tuesday. Shares of MPhasis (up 1.99 per cent), Tata Consultancy (up 1.41 per cent), Info Edge (India) (up 1.35 per cent), Mindtree (up 0.24 per cent) and Coforge (up 0.2 per cent) were among the top gainers. While HCL Technologies (down […]

Budget 2020

Pick up IT & auto stocks if market falls 5-10%: Deepak Shenoy

I would avoid FMCG and a lot of the pharma pack but pick up IT and auto and auto ancillaries if they were to come down another 5% or 10%, says Deepak Shenoy, Founder, Capital Mind. How are you advising clients to play the volatility in the markets?To be fair, there is a small correction […]

News Headlines

Pharma, IT rally not over yet; there is more meat in midcaps: Analysts

By Sandeep Singh Domestic equity benchmark Nifty50 has recovered some 92 per cent from last year’s lows, when the imposition of a lockdown to curb the spread of the Covid pandemic in the country spooked investors. The recovery in the markets ever since has been driven by optimism around the development of Covid vaccines and […]

News Headlines

Market Movers: Cement, metals surge; IT stocks see profit booking

MUMBAI: Concerns that a possible control of the US Congress for the Democrat Party and President-elect Joe Biden may prompt higher corporate tax rates in the country and the rapidly rising COVID-19 cases in Europe saw domestic benchmark indices snap their three-day winning streak today. The losses were led by heavy selling in shares of […]

Budget 2020

IT sector to remain a star performer for next 3-5 years: Vikas Khemani

I see the same process that happened to consumer stocks between 2009 and 2014 getting repeated in case of IT services companies and the re-rating and growth combination playing out over the next three-four years, says Vikas Khemani, Founder, Carnelian Capital Advisors. We have seen key large deal wins since the month of July primarily […]

News Headlines

High valuations may cap upside for IT stocks

Some analysts believe that there may be a gradual moderation in the new order flow in the coming quarters for the IT outsourcing companies. Synopsis The uptick in the technology stocks follows the expectations of a better deal flow in the cloud and mobility segment as businesses adapt to the work from anywhere culture amid […]

Budget 2020

Nifty records 7th consecutive weekly gain as IT stocks surge

NEW DELHI: Last hour buying in some banking names and Reliance Industries, along with high demand for IT stocks, extended the rally for benchmark indices to the sixth straight day amid a weak global trend. However, the gains in indices were limited. The broader market also saw profit booking. Barring IT, pharma and FMCG, all […]

Budget 2020

Indian IT is going back to the days of double-digit growth

Dipan Mehta, Founder & Director, Elixir Equities, takes a look at the IT basket post September quarter earnings from the top 3 leaders. What are you making of the strength and conviction that IT majors are delivering in quarterly numbers? Could a buy-on-expectations, sell-on-news kind of story play out now? Sometimes next-day movement does not […]