TATA TECH NEWS
Sensex, Nifty open lower ahead of US inflation data
Stock Market News: Domestic equity indices Sensex and Nifty opened slightly lower on Wednesday, reflecting global market trends. Investors are awaiting key US inflation data, which could influence the Federal Reserve's rate decision. The CPI report is expected to show inflation nearing the Fed's 2% target, potentially leading to a significant rate cut next week.
Tata Technologies shares dip over 3% after Citi reaffirms 'Sell' rating
Shares of Tata Technologies dropped 3.4% to a day's low of Rs 1,074.2 in Monday's trade on the BSE after global brokerage firm Citi maintained its 'Sell' rating on the stock. Citi, however, raised the target price to Rs 945 from the earlier Rs 935, indicating a downside of 15% from the previous day's closing price of Rs 1,112.5 apiece.
Sensex drops 200 points, Nifty below 24,800 as weak U.S. jobs data sours investor mood
Indian equity indices opened lower for the fourth consecutive session on Monday, influenced by losses from Asian peers and concerns over the U.S. economy following weak jobs data. The BSE Sensex and Nifty50 saw declines, with Tata Steel and Power Grid among the losers, while HUL and ITC gained. Sectoral indices except FMCG, IT, and Realty also dropped.
Hot stocks: Brokerage view on Tata Tech, Zomato and Shriram Finance
Citi has issued a sell rating on Tata Tech with a target price of Rs 945, citing uncertainties related to VinFast revenues and client concentration. Jefferies has set a base case target of Rs 335 for Zomato, anticipating strong growth in delivery revenue. UBS recommends buying Shriram Finance, raising the target price to Rs 3,850 due to higher growth visibility.
Stocks in news: SpiceJet, Shriram Finance, Suven Pharma, Mazagon Dock, Suzlon Energy
Stocks in news: Equity markets ended a three-week winning streak with a loss of over 1.5%, influenced by weak global cues. Key stocks in focus include SpiceJet, Shriram Finance, Suven Pharma, Mazagon Dock, and Suzlon Energy due to various news developments such as funding plans, regulatory approvals, and significant contracts.
Sensex ends 151 points lower, Nifty slips below 25,150 on RIL weakness, US data jitters
Indian benchmark equity indices ended lower on Thursday, reversing early gains due to weakness in Reliance Industries. The 30-share BSE Sensex fell 151 points to settle at 82,201, while the NSE Nifty declined 53 points to close at 25,145. Investors are awaiting crucial US non-farm payroll and unemployment data.
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Rainmatter’s new bets; IT firms cut subcontracting costs
Happy Wednesday! Zerodha-backed Rainmatter Capital has funded multiple startups in the last two months. This and more in today’s ETtech Morning Dispatch.
Market Wrap: Nifty soars for 13th straight session on growth optimism; IT, financial stocks shine
Benchmark index Nifty50 reached an all-time high for the fourth straight session, driven by gains in IT and financial stocks, while also marking its 13th session of the rally. Key stocks like Bajaj Finserv and HCL Tech rose notably. Nifty FMCG and Nifty IT sectors saw gains, although midcap and smallcap indices dropped by around 0.3%.
IT stocks fuel Nifty to fresh all-time high; Sensex surges over 250 points
On Wednesday, the Nifty50 reached a new all-time high of 25,104, surpassing its previous peak of 25,078 after 18 trading sessions. The Sensex is just 143 points away from its fresh high of 82,129. By 11:50 am, the Nifty50 was up 86 points (0.35%), and the Sensex had risen 273 points (0.33%) to 81,986.
Tata Tech, Trent in focus amid large block deals
Tata Group companies Trent and Tata Technologies experienced notable pre-market block deals. Trent's shares initially rose but later fell, while Tata Technologies' shares dropped before stabilizing. Trent is on track to join the Nifty50 index, which will lead to substantial net inflows. The official parties involved in the transactions remain unknown.
Sensex, Nifty off to a flat start tracking pause in global rally, oil price surge
The buying momentum was stronger in the broader market while buying was noticed in IT, pharma, consumer and media stocks. HCL Tech was the biggest gainer among bluechips and was trading 1.5% higher.
Healthcare vertical keeping heart rates up at Indian IT services companies
In recent months, the healthcare vertical of India-centric IT services firms has been in the spotlight, seeing a lot of activity and grabbing headlines for both good and bad reasons. This is in the backdrop of Cognizant TriZetto, a unit of Cognizant Technology Solutions, suing Infosys in a US court for allegedly stealing its trade secrets related to its healthcare insurance software.
Sensex, Nifty off to a choppy start tracking global peers; all eyes on Powell speech
The BSE Sensex was trading 42 points, or 0.05%, lower at 81,009. The Nifty50 was down 7 points, or 0.03%, trading at 24,803 around 9:19 am.
Technical View: Strong momentum could take Nifty past 25,000
Technical analysts noted a strong bounceback in Nifty, predicting further upward momentum. Stocks such as Vedanta and Hindustan Copper formed bullish setups. Investors are advised to focus on IT and FMCG sectors, while considering partial profits in pharma. Positive trends were also seen in metal and banking sectors.
Investor wealth swells by over Rs 7 lakh crore: 6 key factors behind Sensex 1,331 pt rally
The Sensex gained over 1,300 points while the Nifty crossed 24,500 on Friday, driven by positive global cues and strong US economic data. Information technology stocks significantly contributed to the rally. Market capitalization on BSE saw a notable increase. The easing of US inflation and robust retail sales helped improve market sentiment globally.
Market Wrap: Sensex inches 150 points higher, Nifty flat as traders await US CPI data
The Nifty closed nearly flat, impacted by mixed investor sentiment ahead of the U.S. CPI data. Gains in IT stocks, thanks to soft U.S. producer price data, were offset by profit booking. Leading gainers were TCS and Infosys, whereas sectors like Nifty Bank and Pharma declined.
Sensex, Nifty open marginally higher tracking positive cues from global peers
U.S. producer prices increased less than expected in July as the cost of services fell by the most in nearly 1-1/2 years amid signs of diminishing pricing power for businesses, evidence of waning inflation pressures that reinforced hopes of an interest rate cut next month.
Rs 4.5 lakh crore added! US jobs data & 5 other factors behind 820-point Sensex rally
Sensex and Nifty surged over 1% led by gains in IT stocks. The rally was fueled by a larger-than-expected drop in U.S. jobless claims and upbeat Chinese inflation data. Lower oil prices and bottom fishing further boosted market sentiment, pushing all major sectoral indices into positive territory.
Sensex, Nifty rise a day after market meltdown tracking Asian peers
On Tuesday, the Indian stock market rebounded as positive US economic data alleviated recession concerns. Nifty and Sensex experienced significant gains, led by auto, metal, energy, and IT stocks. Domestic buying and a decline in oil prices further boosted market sentiment. Major sectoral indices also saw positive movements, contributing to the overall rise.
UPI, IMPS, retail payments of some banks temporarily unavailable due to ransomware attack on tech-provider
UPI payments: Ransomware attack on C-Edge Tecnologies who manages systems of certain specified banks. As per NPCI's advisory note, "To prevent larger impact to the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated by NPCI. Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation."
Q1 results today: Tata Consumer, Varun Beverages among 91 companies to announce earnings on Tuesday
Q1 Results Today: As first quarter earnings season progressed, 91 companies, like IOC and Tata Consumer, disclosed results. Tata Consumer is expected to exhibit 13% revenue growth due to strong India foods business. However, profit estimates vary. The company's EBITDA margin for the first quarter is projected to rise to 15.3% due to better gross margins.
Sensex falls over 300 pts as RIL & bank stocks tumble, Nifty below 24,400
Ahead of the budget, Indian markets fell. Sensex dropped 355 points, Nifty50 by 148 points. Reliance fell 2.5% from lower fuel margins; HDFC Bank, the country's top private lender, rose 1% after beating profit forecasts; Wipro dropped 8% due to weak demand in Europe and Asia-Pacific. Mixed performance among key stocks in early trading.
Tata Tech shares fall 2% after Q1 results fail to impress. Should you still invest?
Tata Technologies' shares fell 2% after reporting a 15% YoY drop in net profit to Rs 162.03 crore, affected by higher technology expenses. Revenue rose 0.9% YoY to Rs 1,269 crore. With VinFast exit, Kotak advised Sell while JM Financial recommended Buy, forecasting growth through BMW JV, 5 deal wins, resilient margins, education business, and resumed projects.
D-Street bulls struggle to keep up with record-breaking rally; Infosys, RIL in focus
Indian indices Sensex and Nifty50 peaked at record highs of 81,587 and 24,850 before dropping, dragged by energy and financial stocks. Sensex rose 146 points, Nifty50 gained 59 points. Infosys surged 3% post US share hike, boosting FY25 outlook. Tech Mahindra, Power Grid, Tata Steel, NTPC, JSW Steel lagged. HCL Tech, Asian Paints, HDFC Bank benefited from demand recovery.
Stocks in news: RIL, Wipro, Paytm, Infosys, Tata Technologies
Nifty50 reaches 24,800; RIL, Wipro, Infosys, Tata Technologies reveal first-quarter results. Vodafone Idea issues Rs 615 crore in equity shares. Infosys records 3.6% revenue growth, broad-based in constant currency. Tata Technologies' profit falls 15%. CIE Automotive earns Rs 217 crore. JSW Steel's results await.
Nifty continues record run, scales 24,650 mark; Sensex rises 100 points
Indian indices rose 0.12%, with Sensex gaining 97 points and Nifty 50 reaching a new July record, up 29 points at 9:22 am, trading at 24,615. Nifty rose in 8 out of 12 July sessions. Bharti Airtel, Adani Ports, Tata Steel, and Bajaj Finserv led gains, while HCL Tech, L&T, Tata Motors, and Nestle India saw losses.
Tech stocks boost Nifty to fresh lifetime high, Sensex rises 200 pts
Nifty50 hit a record high driven by IT stocks on U.S. rate cut hopes. HCL Tech and BSE Sensex rose. Nifty IT, Auto sectors rose; Private Bank, FMCG, Realty sectors saw cuts. HCL, SBI, Infosys, Tech Mahindra gained. Likely 25 basis point rate cut amid rising food prices.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
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