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Worth Periphera

Shree Karthik P

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IT stocks trade at steep discounts, offering valuation comfort, ICICI Direct recommends staggered investments in select IT stocks, AI-led services could create $300–400 billion market by 2030

* IT stocks trade at steep discounts, offering valuation comfort
* ICICI Direct recommends staggered investments in select IT stocks
* AI-led services could create $300–400 billion market by 2030

ICICI Direct sees IT stocks trading at steep discounts, offering valuation comfort and limited downside. Despite AI-driven revenue deflation, AI-led services could expand market opportunities. Staggered investments may yield strong returns over 18–24 months.

shorts/business/it-stocks-trade-at-discount-after-correction-icici-direct-sees-long-term-upside

Following the recent correction, IT stocks are now trading at a steep discount to their long-term average, offering valuation comfort at current levels with limited downside risk, according to ICICI Direct. The brokerage said staggered investments over the next few months in select IT stocks could deliver strong returns over the next 18–24 months.

ICICI Direct’s top picks in the sector include Persistent Systems, which is seeing early monetisation traction in AI-led programs; LTIMindtree, which has already absorbed productivity-led pricing pressure and demand softness from a key client, potentially derisking future growth; and TCS, which is accelerating investments and capital expenditure in AI to defend its market leadership.

The Nifty IT index has declined about 25 percent year-to-date, driven by concerns over the potential impact of generative AI on the long-term business model of IT services companies, along with broader macroeconomic and geopolitical uncertainties. Both large-cap and midcap IT stocks have seen sharp corrections despite relatively stable operating performance and continued deal wins, as investors reassess near-term growth visibility and the structural implications of AI.

ICICI Direct said historical technology transitions, including ERP adoption, cloud migration and digital transformation cycles, suggest that while new technologies may initially compress revenue growth, they tend to expand the total addressable market for IT services over time.

Generative AI is expected to improve productivity in software development and maintenance, potentially reducing workforce requirements for certain tasks. Industry commentary indicates AI could lead to about 2–3 percent annual deflation in traditional services revenues over the next few years as automation improves delivery efficiency and compresses effort-based pricing models.

At the same time, industry estimates suggest AI-led services could create an incremental market opportunity of $300–400 billion by 2030, significantly higher than the current $280 billion size of the Indian IT services industry. It is also expected to generate 170 million jobs while displacing about 92 million traditional roles.

ICICI Direct said the sector may face near-term growth moderation but stronger structural opportunities over the medium term, with generative AI likely to reshape service delivery while expanding the overall opportunity through accelerated automation and digital transformation.

On the earnings front, Accenture reported steady second-quarter performance with strong deal momentum and record bookings of $22.1 billion, indicating continued demand resilience. For Indian IT companies, the brokerage said the outlook remains neutral in the near term, with recovery expected to be gradual and back-ended, driven by execution and the scaling of AI use cases from pilot projects to enterprise-wide deployments.

Reflecting the evolving demand environment, ICICI Direct has revised its estimates, factoring in 2–3 percent AI-led revenue deflation in FY27 and FY28, along with adjustments to EBIT margins and earnings growth. The brokerage has also lowered valuation multiples for select IT stocks to account for potential revenue pressures and uncertainty in demand for traditional IT services.

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares drop 3% after chairman resigns., SEBI is reviewing possible rule violations by former chairman., Bank hired external law firms to assess concerns raised in letter.

* HDFC Bank shares drop 3% after chairman resigns.
* SEBI is reviewing possible rule violations by former chairman.
* Bank hired external law firms to assess concerns raised in letter.

HDFC Bank shares fell 3% after SEBI began reviewing ex-chairman Atanu Chakraborty's resignation letter for possible rule violations. Chakraborty cited ethical concerns but gave no details. The bank is conducting an independent assessment of his claims.

shorts/business/hdfc-bank-shares-fall-nearly-3-as-sebi-likely-reviewing-ex-chairman-s-exit-letter-jefferies-exits-lender

HDFC Bank shares declined 3 percent on Friday amid reports that markets regulator SEBI is reviewing the resignation letter of former part-time chairman Atanu Chakraborty.

The stock fell after consecutive sessions of gains. It touched an intraday low of Rs 759.25 per share on the NSE, down 2.95 percent.

The decline follows reports that the Securities and Exchange Board of India (SEBI) has initiated a preliminary review of Chakraborty’s resignation letter for possible violations of rules governing directors of listed companies, according to sources.

Chakraborty told Reuters he was not aware of any such examination by the regulator.

In his resignation letter, Chakraborty referred to &quot;certain happenings and practices within the bank&quot; which he said were &quot;not in congruence&quot; with his personal values and ethics. He did not elaborate.

Meanwhile, global brokerage Jefferies also exited its holdings in shares of private lender HDFC Bank, while trimming its India weightage, shortly after part-time chairman and independent director Atanu Chakraborty resigned from the board.
Jefferies exits HDFC Bank following ex-chairman Atanu Chakraborty's resignation 
The stock had fallen 8.7 percent in the following session after the letter surfaced, eroding about Rs 1.35 lakh crore in market capitalisation over three sessions.

Reuters sources said a SEBI department overseeing corporate disclosures and governance is examining the role of the former chairman and other directors for alleged lapses in fiduciary duties.

&quot;The examination is to verify claims made in the resignation letter and whether other directors were aware of any material information and did not document them,&quot; Reuters reported citing sources.

HDFC Bank earlier said it has appointed external law firms to independently assess the concerns raised in the resignation letter. Chakraborty, however, told Reuters that the firms had not contacted him.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

Crude-sensitive stocks slid as Brent crude held above $100., InterGlobe Aviation, SpiceJet, Asian Paints, tyre stocks declined., Market volatility rose, India VIX jumped 8 percent.

* Crude-sensitive stocks slid as Brent crude held above $100.
* InterGlobe Aviation, SpiceJet, Asian Paints, tyre stocks declined.
* Market volatility rose, India VIX jumped 8 percent.

Crude-sensitive shares like InterGlobe Aviation, Asian Paints, and tyre stocks fell up to 4.5% as Brent crude stayed above $100/barrel, raising inflation concerns. Market volatility increased amid US-Iran tensions, with Sensex and Nifty dropping sharply.

shorts/business/indigo-asian-paints-eternal-other-crude-sensitive-stocks-fall-up-to-3-as-brent-crude-stays-above-100

Crude-sensitive shares such as InterGlobe Aviation, Asian Paints and Eternal declined up to 3 percent in trade on Friday as Brent crude remained above the USD 100 per barrel mark, raising concerns over higher input costs and inflationary pressures.

Shares of InterGlobe Aviation fell 3.5 percent to Rs 4,144.5 per share on the National Stock Exchange, while SpiceJet declined 4.5 percent.

Tyre stocks also witnessed losses, with JK Tyre &amp;amp; Industries slipping 2 percent and Apollo Tyres falling nearly 2 percent amid concerns over rising raw material and fuel costs.

Paint companies came under pressure, with Asian Paints declining over 1 percent. Berger Paints India and Akzo Nobel India fell between 1 percent and 2 percent.

Eternal shares were also down more than 2 percent on fears of impact on its delivery business.

Brent crude, the global oil benchmark, was trading at USD 106.8 per barrel.

&quot;Crude oil prices have once again moved above the USD 100 per barrel mark, reinforcing inflationary concerns globally. For India, this is particularly significant given its heavy reliance on crude imports,&quot; Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

He added that Brent crude prices remain elevated and volatile, hovering in the USD 100–107 range, raising concerns around inflation, input costs and broader macroeconomic pressures.

Meanwhile, the Sensex was down 1,224.07 points or 1.63 percent at 74,049.38, and the Nifty was down 360.80 points or 1.55 percent at 22,945.65, as hopes of a resolution to the Iran conflict weakened. The Nifty slipped below the 22,950 level.

&quot;The US-Iran conflict continues to be a key overhang. While there are intermittent signs of de-escalation, the risk of renewed escalation persists, keeping markets highly sensitive to geopolitical developments,&quot; Ponmudi R, CEO of Enrich Money, said.

Market volatility rose sharply, with India VIX jumping 8 percent, indicating heightened investor nervousness. Analysts said that if crude prices remain elevated for an extended period, sectors dependent on fuel and petrochemical inputs may remain under pressure, while broader markets could stay volatile.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares fell, snapping a two-day winning streak., HDFC Bank dropped over 2 percent., State banks fell as bond yields and crude prices climbed.

* Bank shares fell, snapping a two-day winning streak.
* HDFC Bank dropped over 2 percent.
* State banks fell as bond yields and crude prices climbed.

Bank shares fell, snapping a two-day rally as Bank Nifty dropped 2% amid profit booking and rising bond yields. All index constituents declined, led by Canara Bank. HDFC Bank slid after its chairman resigned over board differences, impacting its stock.

shorts/business/bank-shares-snap-2-day-rise-amid-profit-booking-bond-yield-surge-sectoral-index-down-2

Bank shares on Friday snapped a two-day gaining streak, with the sectoral index falling around 2 percent amid profit booking and a rise in bond yields.

The Bank Nifty, which had gained 4.37 percent in the previous two sessions, declined up to 2 percent during the day on selling pressure.

All 14 constituents of the index were trading in the red. Canara Bank was the top laggard, falling up to 4 percent. Bank of Baroda and Punjab National Bank declined 3.78 percent and 3.29 percent, respectively.

HDFC Bank also reversed its two-day gains and fell more than 2 percent.

The decline in HDFC Bank came amid reports that the resignation of its former chairman Atanu Chakraborty last week followed differences with chief executive Sashidhar Jagdishan, according to a Financial Times report citing sources. Chakraborty had opposed extending Jagdishan’s tenure, while a majority of the board supported it, the report said.

The stock had fallen about 12 percent after Chakraborty stepped down as part-time chairman. In his resignation letter, he had cited &quot;certain happenings and practices within the bank&quot; that were &quot;not in congruence&quot; with his personal values and ethics.

State-owned lenders led the decline on concerns that rising crude prices could push up borrowing costs and bond yields, thereby impacting treasury income. Higher bond yields typically reduce the value of banks’ bond holdings, leading to lower gains from their treasury portfolios.

The Nifty PSU Bank index fell up to 3 percent, with all 12 constituents trading lower. Bank of Baroda was among the top losers, down more than 3 percent.

The Nifty Private Bank index declined about 1.5 percent, with all 10 constituents in the red. IndusInd Bank and HDFC Bank were among the key laggards, each falling more than 2 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Bank shares snap 2-day rise amid profit booking, bond yield surge; sectoral index down 2%

Stocks in Focus, March 27: Infosys, Polyplex Corporation, HFCL, Azad Engineering, Le Travenues, Sula Vineyards, Aurobindo Pharma, Global Health, Bharat Dynamics

* Stocks in Focus, March 27: Infosys, Polyplex Corporation, HFCL, Azad Engineering, Le Travenues, Sula Vineyards, Aurobindo Pharma, Global Health, Bharat Dynamics

shorts/business/stocks-to-watch-today-infosys-polyplex-azad-engineering-sula-vineyards-aurobindo-pharma-bharat-dynamics-brigade-enterprises-in-focus-on-27-march

Let's catch up on the latest news from the stock market. From significant investments to major deals, acquisitions, and order wins, here’s a quick look at which stocks will be in focus in today's trade:

Stocks to Watch

Infosys

The digital services and consulting company has announced a definitive agreement to acquire Optimum Healthcare IT, a KLAS-recognised healthcare IT digital transformation and consulting firm based in Florida, for $465 million, and Stratus Global, a US-based insurance tech consulting company, for $95 million.

Polyplex Corporation

The company has executed a share purchase agreement for the acquisition of a 51 percent stake in TechNova Printrite Products for Rs 62.1 crore.

HFCL

The board has approved the setting up of a preform manufacturing facility through the company’s wholly owned subsidiary, HFCL Technologies, with a total investment of Rs 580 crore.

This expansion is part of the company’s strategy to achieve backward integration within its optical fibre cable business, with preform being the basic raw material for manufacturing optical fibre.

Rain Industries

Promoter Nivee Holdings has acquired 4 lakh equity shares (0.1189 percent) of the company on March 24 and 80,000 shares (0.0238 percent) on March 25 via the open market, increasing its stake to 2.56 percent from 2.42 percent earlier.

Azad Engineering

The company has signed a long-term contract and price agreement for an eight-year term with Mitsubishi Heavy Industries, Japan (MHI), for the supply of highly engineered and complex hot-section nozzle vane segments of gas turbine engines.

Le Travenues Technology

Online bus ticketing platform AbhiBus (ixigo’s bus business) has announced a partnership with Fleetx, an AI-driven fleet intelligence platform, to introduce advanced video telematics and driver safety solutions across its bus operator network.

Sula Vineyards

The company has signed a definitive agreement with Moët Hennessy India to acquire Chandon’s world-class estate in Nashik, spread across 19 acres. The facility includes an advanced wine production unit with an annual capacity of 4.5 lakh litres, scalable up to 13 lakh litres.

Aurobindo Pharma

The company’s subsidiary, CuraTeQ Biologics, has entered into a marketing and distribution agreement with STADA Arzneimittel AG, a leading European healthcare and pharmaceuticals company.

Under the agreement, STADA will market and distribute two EMA-approved biosimilars developed by CuraTeQ in select European Union territories, including France and Germany.

Global Health

Medanta has announced plans to set up a 400-bed multi-specialty hospital in Varanasi. The total investment is estimated at approximately Rs 550 crore.

Capri Global Capital

The board has approved the issuance of a global medium-term note programme (GMTN Programme) worth up to $1 billion.

Exide Industries

The company has invested Rs 450 crore by subscribing to shares of its subsidiary, Exide Energy Solutions, on a rights basis.

With this, the total investment in the subsidiary stands at Rs 4,802.23 crore. There is no change in the company’s shareholding percentage post the investment.

Bharat Dynamics

The company is currently establishing two additional manufacturing facilities in Telangana and Uttar Pradesh.

These facilities are in line with its current order book of around Rs 26,000 crore, with additional orders worth Rs 15,000 crore envisaged in FY 2026–27.

Indian Renewable Energy Development Agency

IREDA has declared an interim dividend of Rs 0.6 per share for FY26.

The record date for determining shareholder eligibility has been fixed as April 2, 2026.

Sandhar Technologies

The board has approved the establishment of an assembling/manufacturing facility for the company’s automotive business in Mexico.

Brigade Enterprises

The company has launched a residential project, Brigade Lumina, spread across 4.11 acres in Bengaluru. The project has an estimated revenue potential of over Rs 700 crore.

Happiest Minds Technologies

The company has announced a strategic partnership with UnifyApps, an AI agent and app builder platform for enterprises. It will leverage UnifyApps’ AI OS architecture and horizontal platform to help enterprises transform into AI-native organisations.

NHPC

The board has approved a borrowing plan to raise debt of up to Rs 8,000 crore during FY 2026–27. This will be through non-convertible corporate bonds in one or more tranches via private placement and/or term loans or external commercial borrowings (ECB).

Life Insurance Corporation of India

The corporation has received a demand order for income tax of Rs 6,146.7 crore and interest of Rs 953.25 crore for FY 2021–22 from the Income Tax Department.

The financial impact will be to the extent of the tax and interest demanded.

Ola Electric Mobility

Ola Electric has launched its EndICEAge campaign, offering its electric vehicles—Gen 3 S1 X (2 kWh) and Roadster X (2.5 kWh)—at Rs 49,999, along with benefits of up to Rs 50,000 across the portfolio. The offer is valid till March 31, 2026.

The company has also introduced a service trust guarantee, offering free Ola cab vouchers in case of service delays beyond the stipulated timeframe, and launched a buyback guarantee to provide future value certainty.

Reliance Industries

The company has categorically rejected recent media reports alleging the purchase of crude oil of Iranian origin, calling them baseless, factually incorrect, and misleading.

It has urged media outlets to verify facts thoroughly before publication and refrain from disseminating unsubstantiated reports that can misinform stakeholders and the public.

Bulk Deals

Sammaan Capital

Societe Generale has acquired an additional 50.59 lakh shares (0.6 percent stake) in Sammaan Capital at Rs 149.92 per share, amounting to Rs 75.84 crore. This is in addition to the 1.49 percent stake held as of December 2025.

PNGS Reva Diamond Jewellery

Promoter Gadgil Renu Govind has acquired 7 lakh shares (2.2 percent stake) in Reva Diamonds for Rs 25.55 crore from RGSL Investment LVF 1 at Rs 365 per share.

Additionally, Niraj Rajnikant Shah has bought 3 lakh shares at Rs 367.8 per share (Rs 11.03 crore), while Sanjay Popatlal Jain sold a similar number of shares at the same price.

RGSL Investment Fund-RGSL held a 4.48 percent stake as of December 2025.

Apollo Pipes

Amicorp Capital (Mauritius) has acquired 7.01 lakh shares (1.59 percent stake) in Apollo Pipes for Rs 29.18 crore. Meanwhile, Classic Enterprises sold 5 lakh shares (1.1 percent stake) for Rs 20.8 crore.

The transaction price stood at Rs 416 per share.

Speb Adhesives

Navkar Ventures has acquired 2.64 lakh shares (1.17 percent stake) in Speb Adhesives for Rs 1.36 crore from Compact Structure Fund at Rs 51.75 per share.

Compact Structure Fund held an 8.75 percent stake as of December 5, 2025.

Jupiter Infomedia

Promoter Umesh Modi has sold 7.5 lakh shares (7.48 percent stake) in Jupiter Infomedia for Rs 3.69 crore, in addition to a 3.99 percent stake sold in the previous session, at Rs 49.2 per share.

Meanwhile, Divyeshkumar Mansukhlal Savaliya acquired 6.19 lakh shares for Rs 3.03 crore, and Arix Capital bought 1.5 lakh shares worth Rs 75 lakh.

Mahamaya Lifesciences

Kedia Securities, owned by investor Vijay Kedia, has acquired 1.69 lakh shares (0.72 percent stake) in Mahamaya Lifesciences at Rs 146.36 per share, amounting to Rs 2.47 crore.

Filatex Fashions

Promoter Prabhat Sethia has sold 4.45 crore shares (0.53 percent stake) in Filatex Fashions for Rs 71.29 lakh at Rs 0.16 per share.

During the current quarter (January–March), he has reduced a total of 7.7 percent stake, in addition to 5.06 percent sold in the previous quarter.

Anzen India Energy Yield Plus Trust

Prazim Trading and Investment Company, associated with Azim Premji Trust, has acquired 1.6 crore units (8.15 percent stake) in Anzen India Energy Yield Plus Trust for Rs 200 crore.

Meanwhile, Edelweiss Infrastructure Yield Plus and its subsidiary SEPL Energy sold a combined 8.18 percent stake.

The transaction price was Rs 125 per unit.

Energy Infrastructure Trust

Brookfield Corporation-backed Rapid Holdings 2, the sponsor of Energy Infrastructure Trust, has sold 1.84 crore units (2.77 percent stake) at Rs 78 per unit, amounting to Rs 143.91 crore.

Stocks Trade Ex-Dividend

Vedanta
Angel One
Euro Pratik Sales
Housing &amp;amp; Urban Development Corporation
Samvardhana Motherson International

Stock Trades Ex-Date for Split

Avax Apparels and Ornaments

Stock Trades Ex-Date for Bonus

Hind Rectifiers

Stock in F&amp;amp;O ban

SAIL

Stock out of F&amp;amp;O ban

Sammaan Capital

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Stocks to Watch Today: Infosys, Polyplex, Azad Engineering, Sula Vineyards, Aurobindo Pharma, Bharat Dynamics, Brigade Enterprises in focus on 27 March

Containers & Packaging Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Containers & Packaging industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares snap 2-day rise amid profit booking, bond yield surge; sectoral index down 2%

Stocks to Watch Today: Infosys, Polyplex, Azad Engineering, Sula Vineyards, Aurobindo Pharma, Bharat Dynamics, Brigade Enterprises in focus on 27 March

Containers & Packaging Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Containers & Packaging industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY25-26

Stock News

IT stocks trading at discount after correction, says ICICI Direct; brokerage sees long-term upside

HDFC Bank shares fall nearly 3% as SEBI likely reviewing ex-chairman's exit letter, Jefferies exits lender

IndiGo, Asian Paints, Eternal, other crude-sensitive stocks fall up to 3% as Brent crude stays above $100

Bank shares snap 2-day rise amid profit booking, bond yield surge; sectoral index down 2%

Stocks to Watch Today: Infosys, Polyplex, Azad Engineering, Sula Vineyards, Aurobindo Pharma, Bharat Dynamics, Brigade Enterprises in focus on 27 March

Containers & Packaging Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Containers & Packaging industry stocks.