BUSINESS
Wipro trades up 2% on plans to review share buyback proposal
Wipro's stock price rose 2% after announcing a buyback proposal which is expected to be discussed on April 26-27, 2023. The company is also expected to announce Q4FY23 results on April 27.
MARKETS
Nifty Media inches higher on Dish TV, Nazara Tech gains
Nazara Tech was up 8.88 percent at Rs 579, while Dish TV was trading 13.87 percent higher at Rs 15.60 in the afternoon trade but will the gains hold? Read on
EARNINGS
Cyient jumps over 9% on strong Q4 performance
Cyient shares surge over 9 percent on strong Q4FY23 results. The company expects 15-20% YoY growth in consolidated services revenue for FY24 and is confident of achieving a revenue run rate of $ 1 billion by Q4FY24.
BUSINESS
Telecom Q4 Preview | Flat quarter expected due to muted revenue, high 5G rollout costs
Indian telecom companies are expected to witness a lackluster Q4FY23 because of sluggish revenue growth and increased expenses related to the 5G rollout. While Bharti and Airtel are expected to have stable subscriber growth, VI is predicted to continue losing market share.
BUSINESS
HCL Tech Q4 Preview | Flat revenue, margin contraction expected as P&P declines
HCL Technologies, on April 20, is expected to report flat growth in consolidated revenue and a 4.8% QoQ decline in net profit. On CC basis, analysts expect revenue to slip 1-2% QoQ.
BUSINESS
Zomato rises 5% as Blinkit stores reopen after wage protests
Zomato says most Blinkit stores have reopened following wage protests. Despite disruptions, the food delivery platform claims there will be no material impact on operations or financial performance
BUSINESS
TCS, Infosys warn of subdued demand amid global uncertainty after disappointing Q4
Deferrals in discretionary spending from clients, with the hefty BFSI vertical being the most affected, presages gloomy days ahead for the poster boys of the Indian tech sector.
BUSINESS
Infosys Q4 profit rises 7.8%. How do brokerages see the stock?
After Infosys reported slower earnings growth for the March 2023 quarter with numbers falling short of expectations, analysts expressed caution about the company's future growth prospects, and has led to price target cuts for the stock.
MARKETS
Nifty IT dips over 2% as TCS misses Street estimate, Infy likely to put up a poor show
TCS reported Q4FY23 earnings that missed street expectations, causing a 2% slump in the Nifty IT index, with TCS also trading down by 2%. The recent US banking crisis has resulted in estimate cuts by analysts and increased caution among investors for Indian IT companies that rely heavily on revenue from the BFSI sector, particularly from the US and Europe.
BUSINESS
Infosys Q4 Preview | Infosys may post muted growth in Q4 on weak financial services demand, seasonality
Infosys Q4 Preview | The company is likely to report a 1.4 percent quarter-on-quarter increase in revenue; net profit is expected to rise marginally by 0.6 percent
BUSINESS
TCS Q4 Preview| Subdued growth expected due to client delays in US and Europe
Investors will closely follow the company’s commentary on demand, updates on the state of the banking and financial industry, tech budget, deal pipeline and deal wins.
MARKETS
Delhivery share gains 1% on large block deals
Delhivery share price inches 1 percent higher after bulk deals worth Rs 388.15 crore were made.
MARKETS
L&T Tech shares decline 1% on $9.9-mn visa fraud claims in US
Share price of L&T Technology dropped 1 percent after it agreed to pay $9.93 million to settle allegations of underpaying visa fees.
BUSINESS
India’s GDP growth may drop to 5.5% in FY24 on consumption headwinds, general elections: UBS Economist
Tanvee Gupta Jain expects the RBI to hold policy rates steady and possibly even cut by 50 basis points in the second half of FY24 due to recent global financial market volatility and banking turmoil
BUSINESS
RBI pause on repo rate hike to help sustain home loan demand: RBL Bank strategy head
Jaydeep Iyer believes that the central bank’s decision to keep the repo rate unchanged at 6.5 percent provides relief to home loan borrowers. He expects the RBI will keep interest rate hikes on hold for the fiscal year.
MARKETS
Bharat Forge trades 2% down, Kotak downgrades stock to 'sell'
Bharat Forge was downgraded to 'sell' from 'reduce' by Kotak Institutional Equities due to limited growth prospects in core segments, with the shift towards EV and elevated competitive intensity.
BUSINESS
Three mid-cap tech stocks may outsmart large-caps as Q4 earnings keep D-Street booming
While IT services are expected to remain subdued this quarter amid a challenging macro environment, the Street remains bullish on a few mid-cap IT stocks, read on
BUSINESS
Nykaa shares positive FY23 business update; brokerages see over 50% upside
Beauty and fashion platform, Nykaa shared its business update on Wednesday stating healthy revenue growth trends displayed for FY23 and saw positive analyst sentiment implying an upside potential of over 50 percent.
BUSINESS
What is causing the sudden rebound in Nykaa? Is the worst over?
Nykaa has surged 10 percent in the last two sessions, ahead of the positive business update shared by the company on April 5 after market hours. Earlier in the day, the stock surged zoomed 8 percent after 6.8 million shares worth Rs 92.5 crore changed hands
BUSINESS
Nykaa shares log in 8% spike after large block deals
Nykaa's owner, FSN E-Commerce Ventures, saw a surge of over 8 percent in its share price after bulk deals worth Rs 75.5 crore were made.
MARKETS
Securekloud gains 5% on subsidiary's multi-year deal with CalvertHeath
Securekloud Technologies jumped 5 percent on Wednesday after its subsidiary Healthcare Triangle signed a multi-year agreement with CalvertHeath for its medical document automation solution.
MARKETS
Cyient shares surge 5% on leadership recast
Cyient's shares jumped 5% after the company announced key leadership changes including the appointment of Krishna Bodanapu as Executive Vice-Chairman and MD, and Karthikeyan Natarajan as Executive Director and CEO.
BUSINESS
HCL Tech drops 1% after JPMorgan puts it on negative catalyst watch
HCL Tech share price witnessed a decline of 1 percent on Wednesday after JPMorgan placed the company on its negative catalyst watch citing high near term risks ahead of Q4FY24 earnings release.
BUSINESS
Q4FY23 preview: Indian IT services to see muted revenue growth due to global banking turmoil
Analysts expect IT services companies with high exposure to BFSI to be closely watched for the impact of the banking crisis on their revenues, going forward. While weak macro could impact growth, margins could improve on easing supply pressure, cooling off attrition, and improvements in utilisation.
