< -5%

Travels and Ren

Growington Vent

LE Travenues Te

-5% to -3%

Thomas Cook

TBO Tek

-3% to 0%

Yatra Online

Wise Travel

BLS Internation

Easy Trip

Transcorp Intl

Yaan Enterprise

Intl Travel

Ecos India Mobi

0% to 3%

Axis Solutions

Trade Wings

LGT Business

Mahasagar Trav

3% to 5%

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and appointments, here’s a quick look at which stocks will be in focus in today's trade:

Stocks in news

<a href="https://www.moneycontrol.com/india/stockpricequote/steel-pig-iron/kirloskarferrousindustries/KFI01">Kirloskar Ferrous Industries Limited (KFIL)</a>
KFIL, a key subsidiary of Kirloskar Industries, informed stock exchanges about a planned transfer of some shares to the Investor Education and Protection Fund (IEPF). This was publicly notified in major newspapers on December 4.

<a href="https://www.moneycontrol.com/india/stockpricequote/cables-powerothers/diamondpowerinfrastructure/DC05">Diamond Power Infrastructure</a>
The company has received an order worth Rs 748 crore, from Adani Green Energy for solar cable supply. It is expected to be completed between January 2026 and December 2026.

<a href="https://www.moneycontrol.com/india/stockpricequote/cement-productsbuilding-materials/ifglrefractories/IFG">IFGL Refractories Limited</a>
There was an internal share transfer within IFGL’s promoter group. Bajoria Financial Services acquired 0.61% of the company’s shares from another promoter group member. This transfer doesn’t affect the overall promoter control of the company.

<a href="https://www.moneycontrol.com/india/stockpricequote/telecommunications-services/railtelcorporationindia/RCo01">RailTel</a>
The corporation has received an order worth Rs 63 crore from the Central Public Works Department (CPWD), for ICT networks (includes supply, installation, testing and commissioning of the same).

Onme Soho Health and Beauty Limited
The company sold a 15% stake in its Hong Kong-based subsidiary to a senior executive, reducing its ownership to about 85%. This marks a strategic move to bring key leadership into ownership.

<a href="https://www.moneycontrol.com/india/stockpricequote/construction-real-estate/brookfieldindiarealestatetrust/BIR">Brookfield India Real Estate Trust</a>
Brookfield’s management approved a new institutional placement of units priced at around ₹327 each, offering investors an opportunity to buy into the REIT. The issue is scheduled to open soon, with trading temporarily paused for compliance.

<a href="https://www.moneycontrol.com/india/stockpricequote/plastics/jmgcorporation/IA03">JMG Corporation Limited</a>
Investor Neerav Bairagi has launched an open offer to acquire 26% of JMG Corporation, following his agreement to buy a 36% stake from the current promoter. After this transaction, he will become the new promoter of the company.

<a href="https://www.moneycontrol.com/india/stockpricequote/metalsmining/parmeshwarmetal/PML02">Parmeshwar Metal Limited</a>
The company responded to stock exchange queries regarding recent price movements, stating there is no undisclosed information or management changes behind the fluctuations, which are purely market-driven.

<a href="https://www.moneycontrol.com/india/stockpricequote/shipping/seamec/S14">Seamec Ltd</a>
The Company has entered into Contract with HAL Offshore Limited for offering Charter Hire of our Multi Support Vessel for deploying the same in the ONGC under ongoing Contract of HAL for 5 years, after completion of statutory dry dock of the vessel.

<a href="https://www.moneycontrol.com/india/stockpricequote/cement/nirajcementstructurals/NCS02">Niraj Cement Structurals Limited</a>

The joint venture has received work order worth Rs 82.66 crore, for providing connectivity from SGMC monorail station to Mahalaxmi metro and suburban station. This will be through the FOB with Travellator.

Bulk deaks

<a href="https://www.moneycontrol.com/india/stockpricequote/constructioncontracting-real-estate/deltacorp/DC11">Delta Corp</a>
Promoter Jaydev Mukund Mody bought 14 lakh shares (0.52 percent stake) of the company at Rs 68.46 each.

<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/greenlamindustries/GI31">Greenlam Industries</a>
DSP Mutual Fund acquired 28.02 lakh shares (1.10 percent) at Rs 243.5 each, while HDFC Mutual Fund sold 26.25 lakh shares (1.03 percent) at the same price.

<a href="https://www.moneycontrol.com/india/stockpricequote/packaging-materials-plastic-products/jyotiglobalplast/JGP01">Jyoti Global Plast</a>
Viradia Ramesh Ramjibhai purchased 1.22 lakh shares (0.62 percent stake) at Rs 55.77 each, whereas 3 Sigma Global Fund offloaded 1.04 lakh shares ( 0.52 percent stake).

<a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/nectarlifesciences/NL01">Nectar Lifesciences</a>
Jaideep Sampat sold 16.96 lakh shares (0.76 percent) at Rs 20.54 each.

<a href="https://www.moneycontrol.com/india/stockpricequote/textile-spinning/paramountdyetec/PDT">Paramount Dye Tec</a>
Comely Electrical Private Limited bought 1.21 lakh shares (1.75 percent) at Rs 52.99 each.

Stock in F&amp;O ban

Sammaan Capital

Stock Trades Ex-Date for Rights

Hindustan Construction Company

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Stocks to watch on December 5: Kirloskar Ferrous, Semaec, Greenlam Industries, RailTel, Brookfeld India REIT and more

Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and appointments, here’s a quick look at which stocks will be in focus in today's trade:

Stocks in news

Kirloskar Ferrous Industries Limited (KFIL)
KFIL, a key subsidiary of Kirloskar Industries, informed stock exchanges about a planned transfer of some shares to the Investor Education and Protection Fund (IEPF). This was publicly notified in major newspapers on December 4.

Diamond Power Infrastructure
The company has received an order worth Rs 748 crore, from Adani Green Energy for solar cable supply. It is expected to be completed between January 2026 and December 2026.

IFGL Refractories Limited
There was an internal share transfer within IFGL’s promoter group. Bajoria Financial Services acquired 0.61% of the company’s shares from another promoter group member. This transfer doesn’t affect the overall promoter control of the company.

RailTel
The corporation has received an order worth Rs 63 crore from the Central Public Works Department (CPWD), for ICT networks (includes supply, installation, testing and commissioning of the same).

Onme Soho Health and Beauty Limited
The company sold a 15% stake in its Hong Kong-based subsidiary to a senior executive, reducing its ownership to about 85%. This marks a strategic move to bring key leadership into ownership.

Brookfield India Real Estate Trust
Brookfield’s management approved a new institutional placement of units priced at around ₹327 each, offering investors an opportunity to buy into the REIT. The issue is scheduled to open soon, with trading temporarily paused for compliance.

JMG Corporation Limited
Investor Neerav Bairagi has launched an open offer to acquire 26% of JMG Corporation, following his agreement to buy a 36% stake from the current promoter. After this transaction, he will become the new promoter of the company.

Parmeshwar Metal Limited
The company responded to stock exchange queries regarding recent price movements, stating there is no undisclosed information or management changes behind the fluctuations, which are purely market-driven.

Seamec Ltd
The Company has entered into Contract with HAL Offshore Limited for offering Charter Hire of our Multi Support Vessel for deploying the same in the ONGC under ongoing Contract of HAL for 5 years, after completion of statutory dry dock of the vessel.

Niraj Cement Structurals Limited

The joint venture has received work order worth Rs 82.66 crore, for providing connectivity from SGMC monorail station to Mahalaxmi metro and suburban station. This will be through the FOB with Travellator.

Bulk deaks

Delta Corp
Promoter Jaydev Mukund Mody bought 14 lakh shares (0.52 percent stake) of the company at Rs 68.46 each.

Greenlam Industries
DSP Mutual Fund acquired 28.02 lakh shares (1.10 percent) at Rs 243.5 each, while HDFC Mutual Fund sold 26.25 lakh shares (1.03 percent) at the same price.

Jyoti Global Plast
Viradia Ramesh Ramjibhai purchased 1.22 lakh shares (0.62 percent stake) at Rs 55.77 each, whereas 3 Sigma Global Fund offloaded 1.04 lakh shares ( 0.52 percent stake).

Nectar Lifesciences
Jaideep Sampat sold 16.96 lakh shares (0.76 percent) at Rs 20.54 each.

Paramount Dye Tec
Comely Electrical Private Limited bought 1.21 lakh shares (1.75 percent) at Rs 52.99 each.

Stock in F&amp;amp;O ban

Sammaan Capital

Stock Trades Ex-Date for Rights

Hindustan Construction Company

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Cement prices in India are unlikely to recover until the seasonally strong January-March quarter (Q4 FY26) as the cement players face a mixed demand situation, analysts at brokerage Systematix said.

The brokerage however remained positive for the sector from a medium-to-long term perspective despite some "near-term hiccups".

Pan-India cement prices have dropped month-on-month in November, Systematix said, adding that a rebound is expected to be seen only from January 2026 onwards. It noted that cement prices rose year-on-year due to a low base, but were flattish quarter-on-quarter in Q2 FY26.

Systematix noted that channel checks indicate a "mixed demand environment" for the cement sector, with southern region seeing the weakest demand. Western markets see slight uptick, while halted construction activities amid elevated air pollution levels in North India softened demand, the brokerage added.

UltraTech Cement, Ambuja Cements and <a href="https://www.moneycontrol.com/india/stockpricequote/cement/nuvocovistascorporation/NVC">Nuvoco Vistas</a> are Systematix's top pics in the space.
<h3>JM Financial says recovery appears challenging:</h3>
Meanwhile, another domestic brokerage JM Financial noted that the pan-India average cement prices have declined approximately 1 percent month-over-month to Rs 336 per bag in November. Regionally, prices fell nearly 1–2 percent sequentially across all markets.

"Pan-India industry volume likely grew in high single digits YoY in Nov’25, aided by a favourable base and festive season shifts. However, demand for Oct–Nov combined appears to have grown only in mid single digits YoY. Demand in a few pockets remained slightly soft due to the Bihar elections, construction restrictions in Delhi related to pollution, lower labour availability, and the busy marriage season," the domestic brokerage said.

JM Financial said that the cement industry typically sees a sequential improvement in profitability in Q3, but this time the recovery appears challenging. This could be due to weaker cement prices, rising input costs along with rupee depreciation, and a gradual demand recovery.

"Any rebound in cement prices will be a key monitorable in the coming months," it said, while naming UltraTech as its top pick among the large-caps and JK Cement among the mid-caps.

<a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/ultratechcement/UTC01">UltraTech Cement </a>shares closed in the green with marginal gains, rising 0.08 percent to Rs 11,600 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/ambujacements/AC18">Ambuja Cements</a> also closed marginally higher at Rs 537.15 apiece.

(With inputs from agencies)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Cement prices unlikely to recover until Q4, says brokerage; names UltraTech, Ambuja as its top picks

Cement prices in India are unlikely to recover until the seasonally strong January-March quarter (Q4 FY26) as the cement players face a mixed demand situation, analysts at brokerage Systematix said.

The brokerage however remained positive for the sector from a medium-to-long term perspective despite some &quot;near-term hiccups&quot;.

Pan-India cement prices have dropped month-on-month in November, Systematix said, adding that a rebound is expected to be seen only from January 2026 onwards. It noted that cement prices rose year-on-year due to a low base, but were flattish quarter-on-quarter in Q2 FY26.

Systematix noted that channel checks indicate a &quot;mixed demand environment&quot; for the cement sector, with southern region seeing the weakest demand. Western markets see slight uptick, while halted construction activities amid elevated air pollution levels in North India softened demand, the brokerage added.

UltraTech Cement, Ambuja Cements and Nuvoco Vistas are Systematix's top pics in the space.
JM Financial says recovery appears challenging:
Meanwhile, another domestic brokerage JM Financial noted that the pan-India average cement prices have declined approximately 1 percent month-over-month to Rs 336 per bag in November. Regionally, prices fell nearly 1–2 percent sequentially across all markets.

&quot;Pan-India industry volume likely grew in high single digits YoY in Nov’25, aided by a favourable base and festive season shifts. However, demand for Oct–Nov combined appears to have grown only in mid single digits YoY. Demand in a few pockets remained slightly soft due to the Bihar elections, construction restrictions in Delhi related to pollution, lower labour availability, and the busy marriage season,&quot; the domestic brokerage said.

JM Financial said that the cement industry typically sees a sequential improvement in profitability in Q3, but this time the recovery appears challenging. This could be due to weaker cement prices, rising input costs along with rupee depreciation, and a gradual demand recovery.

&quot;Any rebound in cement prices will be a key monitorable in the coming months,&quot; it said, while naming UltraTech as its top pick among the large-caps and JK Cement among the mid-caps.

UltraTech Cement shares closed in the green with marginal gains, rising 0.08 percent to Rs 11,600 apiece. Ambuja Cements also closed marginally higher at Rs 537.15 apiece.

(With inputs from agencies)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/auto-ancillaries-brakes/olaelectricmobility/OEM">Ola Electric Mobility</a> fell more than 5 percent to hit an all-time low of Rs 36.12 apiece on December 4. The stock has now more than halved from its IPO price of Rs 76 per share.

The shares closed in the lower circuit at Rs 36.12 apiece on Thursday, extending losses to the fifth consecutive session.

&nbsp;
<h3>Ola Electric share price history:</h3>
The stock had debuted flat at the IPO price of Rs 76 per share on August 9, 2024. The stock then more than doubled in less than a month, rallying 107 percent to hit an all-time high of Rs 157.4 per share on August 20 last year.

Ola Electric shares have now fallen more than 77 percent since then. The stock is currently down around 52 percent from its IPO and listing price of Rs 76 per share.

Ola Electric shares have fallen nearly 13 percent in the past five days, and around 28 percent in the past one month. The stock is down more than 58 percent in 25 so far.

&nbsp;
<h3>Ola Electric's sales fall in November:</h3>
In November, Ola Electric's sales dropped nearly 50 percent, Informist reported. Ola Electric <a href="https://www.moneycontrol.com/news/business/startup/tvs-motor-retains-its-lead-as-hero-s-vida-overtakes-ola-electric-in-november-ev-two-wheeler-sales-13701794.html">slipped to fifth place</a>, selling 7,567 units and holding 7.2 percent market share in November, according to the latest registration data from Vahan.

The decline is significant for a company that once dominated India’s EV two-wheeler landscape and routinely topped the charts. Industry experts pointed to intensifying competition, wider portfolios from incumbents, and recent pricing recalibrations as key reasons for the shift. Operational challenges and service-related complaints have also reportedly affected Ola’s momentum.

Emkay Global Financial Services has a 'Buy' rating on the stock with a target price of Rs 65 per share. This implies an upside potential of nearly 80 percent from the stock’s current market level.

&nbsp;
<h3>Ola Electric Q2 results:</h3>
Ola Electric Mobility in November reported a <a href="https://www.moneycontrol.com/news/business/earnings/ola-electric-q2-loss-narrows-to-rs-418-crore-revenue-down-43-year-on-year-13656130.html">consolidated net loss</a> of Rs 418 crore for the July-September quarter of FY26, as against a net loss of Rs 495 crore in the corresponding period last year. Revenue from operations, however, declined 43 percent year-on-year to Rs 690 crore from Rs 1,214 crore in the same quarter last year, indicating weaker sales performance during the period.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Ola Electric shares decline 5% to hit all-time low, extend fall to fifth straight session

The shares of Ola Electric Mobility fell more than 5 percent to hit an all-time low of Rs 36.12 apiece on December 4. The stock has now more than halved from its IPO price of Rs 76 per share.

The shares closed in the lower circuit at Rs 36.12 apiece on Thursday, extending losses to the fifth consecutive session.

&amp;nbsp;
Ola Electric share price history:
The stock had debuted flat at the IPO price of Rs 76 per share on August 9, 2024. The stock then more than doubled in less than a month, rallying 107 percent to hit an all-time high of Rs 157.4 per share on August 20 last year.

Ola Electric shares have now fallen more than 77 percent since then. The stock is currently down around 52 percent from its IPO and listing price of Rs 76 per share.

Ola Electric shares have fallen nearly 13 percent in the past five days, and around 28 percent in the past one month. The stock is down more than 58 percent in 25 so far.

&amp;nbsp;
Ola Electric's sales fall in November:
In November, Ola Electric's sales dropped nearly 50 percent, Informist reported. Ola Electric slipped to fifth place, selling 7,567 units and holding 7.2 percent market share in November, according to the latest registration data from Vahan.

The decline is significant for a company that once dominated India’s EV two-wheeler landscape and routinely topped the charts. Industry experts pointed to intensifying competition, wider portfolios from incumbents, and recent pricing recalibrations as key reasons for the shift. Operational challenges and service-related complaints have also reportedly affected Ola’s momentum.

Emkay Global Financial Services has a 'Buy' rating on the stock with a target price of Rs 65 per share. This implies an upside potential of nearly 80 percent from the stock’s current market level.

&amp;nbsp;
Ola Electric Q2 results:
Ola Electric Mobility in November reported a consolidated net loss of Rs 418 crore for the July-September quarter of FY26, as against a net loss of Rs 495 crore in the corresponding period last year. Revenue from operations, however, declined 43 percent year-on-year to Rs 690 crore from Rs 1,214 crore in the same quarter last year, indicating weaker sales performance during the period.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/biocon/BL03">Biocon</a> fell more than 6 percent on December 4 as the pharma company is set to consider investment into subsidiary Biocon Biologics through purchase of shares from existing shareholders for cash or through issuance of shares of company.

The shares of the pharma company fell to Rs 384.20 apiece, the lowest level seen by the stock in nearly three weeks. The stock has now snapped a two-session gaining streak.

Biocon on December 3 announced that the company's board will hold a meeting on December 6 to consider and approve the proposed investment in its Biocon Biologics, which is its biosimilar arm, via the "purchase or acquisition of securities from shareholders of BBL, for cash and/or consideration other than cash through issuance and allotment of fully paid-up equity shares of the Company on a preferential allotment basis through private placement to such shareholders".

The board will also consider the proposal to raise funds via the commercial paper through private placement and equity shares or any other eligible securities, through one or more methods including qualified institutions placement, rights issue, preferential issue and further public offer, in one or more tranches.

Systematix Institutional Equities analyst Vishal Manchanda said that to buyout minority interest in Biocon Biologics, Biocon may have to raise Rs 10,000 crore-Rs 15,000 crore, which would mean meaningful dilution for shareholders of the company.

&nbsp;
<h3>Biocon share price history:</h3>
Biocon shares fell around 3 percent in the past five days, but gained over 2 percent in the past one month. The stock jumped nearly 16 percent in the past six months, and is up over 5 percent in 2025 so far.

The stock currently has a P/E ratio of around 90.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/share-market-live-updates-sensex-nifty-bank-nifty-midcap-smallcap-live-news-today-liveblog-13709637.html">LIVE updates</a> from the stock markets here.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Biocon shares tumble 6% on firm's proposed investment in biosimilar unit: Here's the likely reason

The shares of Biocon fell more than 6 percent on December 4 as the pharma company is set to consider investment into subsidiary Biocon Biologics through purchase of shares from existing shareholders for cash or through issuance of shares of company.

The shares of the pharma company fell to Rs 384.20 apiece, the lowest level seen by the stock in nearly three weeks. The stock has now snapped a two-session gaining streak.

Biocon on December 3 announced that the company's board will hold a meeting on December 6 to consider and approve the proposed investment in its Biocon Biologics, which is its biosimilar arm, via the &quot;purchase or acquisition of securities from shareholders of BBL, for cash and/or consideration other than cash through issuance and allotment of fully paid-up equity shares of the Company on a preferential allotment basis through private placement to such shareholders&quot;.

The board will also consider the proposal to raise funds via the commercial paper through private placement and equity shares or any other eligible securities, through one or more methods including qualified institutions placement, rights issue, preferential issue and further public offer, in one or more tranches.

Systematix Institutional Equities analyst Vishal Manchanda said that to buyout minority interest in Biocon Biologics, Biocon may have to raise Rs 10,000 crore-Rs 15,000 crore, which would mean meaningful dilution for shareholders of the company.

&amp;nbsp;
Biocon share price history:
Biocon shares fell around 3 percent in the past five days, but gained over 2 percent in the past one month. The stock jumped nearly 16 percent in the past six months, and is up over 5 percent in 2025 so far.

The stock currently has a P/E ratio of around 90.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The IT shares extended their gains for a second straight session on Thursday, outperforming a volatile broader market. The Sensex and Nifty moved sharply in both directions throughout the day, but IT stocks held firm.

The Nifty IT index rose around 1.5 percent in afternoon trade, after closing more than 1 percent higher on Wednesday. The index is up over 2 percent in the two sessions.

All 10 constituents of the Nifty IT index were trading in positive territory. <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> led the pack, gaining 3.19 percent around 1:30 p.m., followed by Persistent Systems, which was up 1.96 percent.

TCS shares were quoting at Rs 3,230.40 per share on the NSE, up 1.58 percent - the higest in about 3 months. The sharp uptick was seen after ET reported that OpenAI is in advanced talks with the company to establish a large-scale AI compute presence in India and co-develop agentic AI products for enterprises.

Mphasis, Tech Mahindra, HCL Technologies, Wipro and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> also advanced, rising up to 2 percent.

3 Key Factors behind Rise in IT Sector

1) Weakening rupee: The rupee declined 28 paise to a record low of 90.43 against the US dollar in early trade. The domestic currency opened at 90.36 and slipped further amid sustained foreign fund outflows. A weaker rupee typically benefits IT exporters, which earn a large share of their revenue in dollars. The depreciation boosts their reported earnings and margins in rupee terms.

2) Expectations of a US rate cut: Fresh US economic data kept hopes alive for a Federal Reserve rate cut next week. Lower rates in the US tend to support economic activity and corporate spending, including technology budgets. Improved client spending in the world’s largest IT market generally benefits Indian IT services companies.

<a href="https://www.moneycontrol.com/news/business/markets/sensex-falls-250-pts-from-day-s-high-nifty-below-26-050-5-key-reasons-behind-market-decline-13710115.html" target="_blank">Sensex falls 400 pts from day's high, Nifty below 26,000: 5 key reasons behind market decline</a>

3) Positive brokerage commentary: Motilal Oswal said the IT services sector could be nearing an inflection point, with stronger growth expected over the next 6–9 months. The brokerage projected a pickup in the second half of FY27 and broader adoption through FY28 as enterprises move from pilot projects to full-scale deployment. It added that sector valuations remain at decade lows despite stable profitability, reported Informist.

Last week, the firm upgraded Infosys to “buy” from “neutral”, citing its potential to benefit from enterprise AI spending. Mphasis and Zensar were also raised to “buy”, while Wipro was revised to “neutral” from “sell”.

The brokerage expects IT services growth to stabilise and strengthen by FY28 as cloud spending normalises. The IT sub-index remains down 12.7 percent year-to-date, compared with the Nifty 50’s performance.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

IT stocks rise for 2nd day despite volatile market; Coforge, TCS lead gains: Here are three reasons why

The IT shares extended their gains for a second straight session on Thursday, outperforming a volatile broader market. The Sensex and Nifty moved sharply in both directions throughout the day, but IT stocks held firm.

The Nifty IT index rose around 1.5 percent in afternoon trade, after closing more than 1 percent higher on Wednesday. The index is up over 2 percent in the two sessions.

All 10 constituents of the Nifty IT index were trading in positive territory. Coforge led the pack, gaining 3.19 percent around 1:30 p.m., followed by Persistent Systems, which was up 1.96 percent.

TCS shares were quoting at Rs 3,230.40 per share on the NSE, up 1.58 percent - the higest in about 3 months. The sharp uptick was seen after ET reported that OpenAI is in advanced talks with the company to establish a large-scale AI compute presence in India and co-develop agentic AI products for enterprises.

Mphasis, Tech Mahindra, HCL Technologies, Wipro and Infosys also advanced, rising up to 2 percent.

3 Key Factors behind Rise in IT Sector

1) Weakening rupee: The rupee declined 28 paise to a record low of 90.43 against the US dollar in early trade. The domestic currency opened at 90.36 and slipped further amid sustained foreign fund outflows. A weaker rupee typically benefits IT exporters, which earn a large share of their revenue in dollars. The depreciation boosts their reported earnings and margins in rupee terms.

2) Expectations of a US rate cut: Fresh US economic data kept hopes alive for a Federal Reserve rate cut next week. Lower rates in the US tend to support economic activity and corporate spending, including technology budgets. Improved client spending in the world’s largest IT market generally benefits Indian IT services companies.

Sensex falls 400 pts from day's high, Nifty below 26,000: 5 key reasons behind market decline

3) Positive brokerage commentary: Motilal Oswal said the IT services sector could be nearing an inflection point, with stronger growth expected over the next 6–9 months. The brokerage projected a pickup in the second half of FY27 and broader adoption through FY28 as enterprises move from pilot projects to full-scale deployment. It added that sector valuations remain at decade lows despite stable profitability, reported Informist.

Last week, the firm upgraded Infosys to “buy” from “neutral”, citing its potential to benefit from enterprise AI spending. Mphasis and Zensar were also raised to “buy”, while Wipro was revised to “neutral” from “sell”.

The brokerage expects IT services growth to stabilise and strengthen by FY28 as cloud spending normalises. The IT sub-index remains down 12.7 percent year-to-date, compared with the Nifty 50’s performance.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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

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Earnings Review-Q2 FY25-26

Stock News

Stocks to watch on December 5: Kirloskar Ferrous, Semaec, Greenlam Industries, RailTel, Brookfeld India REIT and more

Cement prices unlikely to recover until Q4, says brokerage; names UltraTech, Ambuja as its top picks

Ola Electric shares decline 5% to hit all-time low, extend fall to fifth straight session

Biocon shares tumble 6% on firm's proposed investment in biosimilar unit: Here's the likely reason

IT stocks rise for 2nd day despite volatile market; Coforge, TCS lead gains: Here are three reasons why

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

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Earnings Review-Q2 FY25-26

Stock News

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IT stocks rise for 2nd day despite volatile market; Coforge, TCS lead gains: Here are three reasons why

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