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British American Tobacco's three affiliates have offloaded 9 percent equity stake in ITC Hotels for nearly Rs 3,856 crore via open market transactions on December 5, to seven global and domestic investors.

<a href="https://www.moneycontrol.com/india/stockpricequote/hotel-resortrestaurants/itchotels/IHL02">ITC Hotels</a> shares finished the session 0.87 percent lower at Rs 205.91 amid high volumes, remaining rangebound for nearly a month now.

Tobacco Manufacturers India, Myddleton Investment Company, and Rothmans International Enterprises, the affiliates of British American Tobacco, have sold 18.75 crore equity shares in the hotel chain at Rs 205.65 per share.

As of September 2025, Myddleton Investment Company, and Tobacco Manufacturers India were holding 2.33 percent and 12.2 percent stake, respectively, in ITC Hotels.

On other side, HCL Capital, a subsidiary of Vama Sundari Investments (Delhi), was the largest buyer among seven investors, picking up nearly 7 percent stake (14.57 crore shares) in ITC Hotels at same price for Rs 2,998 crore.

Other six investors - Societe Generale, Nippon India MF, Morgan Stanley Asia Singapore, Vanguard Group, BNP Paribas Arbitrage, and Abu Dhabi Investment Authority acquired 4.17 crore shares (2 percent stake) for Rs 858 crore at same price.

Meanwhile, the action was also seen in <a href="https://www.moneycontrol.com/india/stockpricequote/packaging/polyplexcorporation/PC08">Polyplex Corporation</a>. K2 Family Private Trust bought 2.75 lakh shares in the polyester, and polypropylene film manufacturer for Rs 22.55 crore at Rs 820 per share, from First Water Fund.

First Water Fund, the public shareholder in Polyplex, held 3.76 percent stake as of September 2025.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

British American Tobacco affiliates offload 9% stake in ITC Hotels for Rs 3,856 crore, HCL Capital picks up 7% shares

British American Tobacco's three affiliates have offloaded 9 percent equity stake in ITC Hotels for nearly Rs 3,856 crore via open market transactions on December 5, to seven global and domestic investors.

ITC Hotels shares finished the session 0.87 percent lower at Rs 205.91 amid high volumes, remaining rangebound for nearly a month now.

Tobacco Manufacturers India, Myddleton Investment Company, and Rothmans International Enterprises, the affiliates of British American Tobacco, have sold 18.75 crore equity shares in the hotel chain at Rs 205.65 per share.

As of September 2025, Myddleton Investment Company, and Tobacco Manufacturers India were holding 2.33 percent and 12.2 percent stake, respectively, in ITC Hotels.

On other side, HCL Capital, a subsidiary of Vama Sundari Investments (Delhi), was the largest buyer among seven investors, picking up nearly 7 percent stake (14.57 crore shares) in ITC Hotels at same price for Rs 2,998 crore.

Other six investors - Societe Generale, Nippon India MF, Morgan Stanley Asia Singapore, Vanguard Group, BNP Paribas Arbitrage, and Abu Dhabi Investment Authority acquired 4.17 crore shares (2 percent stake) for Rs 858 crore at same price.

Meanwhile, the action was also seen in Polyplex Corporation. K2 Family Private Trust bought 2.75 lakh shares in the polyester, and polypropylene film manufacturer for Rs 22.55 crore at Rs 820 per share, from First Water Fund.

First Water Fund, the public shareholder in Polyplex, held 3.76 percent stake as of September 2025.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/steel-large/jswsteel/JSW01">JSW Steel</a> rose more than 1 percent on December 5, extending gains for the second consecutive session as brokerage issued bullish notes for the stock. This comes after the company announced a joint venture with Japan's JFE Steel.

The shares have now risen over 2 percent in two days, after falling 1.5 percent on the day the JV was announced (December 3).

JFE Steel on December 3 had announced that it will form <a href="https://www.moneycontrol.com/news/business/markets/jsw-steel-shares-fall-3-as-jfe-steel-to-form-50-50-jv-with-jsw-for-transfer-of-bpsl-integrated-steel-facility-13708703.html">50:50 joint venture with JSW Steel</a> for transfer of Bhushan Power &amp; Steel integrated steel facility. JFE will invest Rs 15,750 crore (270 billion yen) in JV for transfer of BPSL integrated steel facility.

JSW had acquired <a href="https://www.moneycontrol.com/news/business/jsw-steel-may-sell-up-to-50-stake-in-bhushan-power-cnbc-tv18-13670052.html">Bhushan Power &amp; Steel (BPSL) in 2021 through an IBC</a> process. "What was a 2.75 mtpa sick unit now stands proud as a profitable company with an enhanced capacity of 4.5 mtpa, employing 25,000 people," the company said.

Through this transaction, JSW will monetise part of its holding in BPSL, in order to accelerate the growth of the company, the firm said. The cash proceeds received from the transaction will strengthen the company's balance sheet even further and provide a clear runway for growth that will create significant value for its stakeholders, it said.
<h3><strong>Motilal Oswal on JSW Steel:</strong></h3>
Motilal Oswal Financial Services said JSW Steel's partnership will help reduce debt by Rs 35,000 crore and focus on capacity expansion. The domestic brokerage said that the restructuring and JV collectively will allow the company to monetize a significant portion of the value created through the turnaround of BPSL. This will let JSW Steel reduce debt and focus on the long-term growth plan of expanding capacity to 50 mtpa.

"We remain positive on the company outlook, estimating double-digit revenue growth in FY26/FY27, driven by the ramp-up of new capacity and price recovery. Further, as input costs are expected to remain soft, we believe EBITDA margin will rebound to 18-19% in FY26/FY27 (~INR12,000/t in FY26E and ~INR13,500/t in FY27E) on account of domestic steel price recovery, led by safeguard duty. The recent development will support JSTL’s deleveraging plan. Its net debt-to-EBITDA ratio declined to 2.97x as of 2QFY26, which we expect to decline to 1.7x by FY27E, supported by robust operating profit," Motilal said.

The domestic brokerage kept a 'Buy' rating on the stock, with a target price of Rs 1,350 per share. This implies an upside potential of nearly 16 percent from the stock’s current market price.
<h3><strong>JM Financial on JSW Steel:</strong></h3>
JM Financial said that the transaction boosts JSW Steel's liquidity and enhances balance sheet capacity for organic and inorganic growth, supporting its long-term capex roadmap toward 50 mtpa by FY31. "Management has emphasised that the JV will remain independent rather than merge with JSW Steel, ensuring governance clarity, financial ring-fencing and aligned partner participation. JSW will continue as co-owner, operator and project executor, retaining control over value creation," it said.

The domestic brokerage concluded that the deal strengthens JSW’s balance sheet, accelerates its long-term growth pathway and fits JFE’s global expansion strategy. JM Financial kept a 'Buy' call on the stock and a target price of Rs 1,350 per share, implying an upside potential of around 16 percent from the stock’s current market price.
<h3><strong>Emkay Global on JSW Steel:</strong></h3>
Emkay Global said that the restructuring unlocks value from BPSL and delivers a sharp balance-sheet reset. "This monetization step also delivers a material balance-sheet benefit, with JSTL achieving Rs370bn of deleveraging following the sale and associated debt transfer. We understand immediate deleveraging and getting prepared for the next leg of capacity expansion cycle—at a time when steel consumption growing at 8-9% pa is expected to push the market into a deficit in the next 2–3 years— as key rationale for this transaction," the domestic brokerage said.

It kept an 'Add' rating on the stock, with a target price of Rs 1,200 per share. This implies an upside potential of nearly 3 percent from the stock’s current market price.
<h3><strong>Yes Securities on JSW Steel:</strong></h3>
Yes Securities in its note said that the move "creates a clean, ring-fenced platform for the JV and unlocks significant embedded value within BPSL while setting the stage for the next leg of expansion". "The new JV will carry ~Rs 215bn of ring fenced, non-recourse debt, significantly strengthening JSW Steel’s capital structure and enhancing its ability to fund ongoing capex at Dolvi, Vijayanagar, Odisha Phase-1, and Salav," the domestic brokerage said.

It kept a ‘Neutral’ call on the stock, with a target price of Rs 1,228 per share. This implies an upside potential of more than 5 percent from the stock’s current market price.
<h3><strong>Elara Capital on JSW Steel:</strong></h3>
Elara Capital said that the joint venture with JFE Steel Corporation of Japan brings together the execution strength of JSW Steel and the manufacturing technology expertise of JFE Corporation, enabling a wider portfolio of value-added steel products.

However, the domestic brokerage advised caution as it believes that the recent positives have already been priced in the stock price. It maintained its ‘Sell’ rating on the stock with a target price of Rs 994 per share. This implies a downside potential of nearly 15 percent from the stock’s current market share.
<h3><strong>JSW Steel share price:</strong></h3>
JSW Steel shares have fallen nearly 2 percent in the past five days, but gained more than 20 percent in the past six months.

The stock is up around 29 percent in 2025 so far. Its P/E ratio currently stands at around 51.

<em>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.</em>

JSW Steel shares rise 2% in two days: Brokerages remain bullish after firm's JV with Japan's JFE Steel

The shares of JSW Steel rose more than 1 percent on December 5, extending gains for the second consecutive session as brokerage issued bullish notes for the stock. This comes after the company announced a joint venture with Japan's JFE Steel.

The shares have now risen over 2 percent in two days, after falling 1.5 percent on the day the JV was announced (December 3).

JFE Steel on December 3 had announced that it will form 50:50 joint venture with JSW Steel for transfer of Bhushan Power &amp;amp; Steel integrated steel facility. JFE will invest Rs 15,750 crore (270 billion yen) in JV for transfer of BPSL integrated steel facility.

JSW had acquired Bhushan Power &amp;amp; Steel (BPSL) in 2021 through an IBC process. &quot;What was a 2.75 mtpa sick unit now stands proud as a profitable company with an enhanced capacity of 4.5 mtpa, employing 25,000 people,&quot; the company said.

Through this transaction, JSW will monetise part of its holding in BPSL, in order to accelerate the growth of the company, the firm said. The cash proceeds received from the transaction will strengthen the company's balance sheet even further and provide a clear runway for growth that will create significant value for its stakeholders, it said.
Motilal Oswal on JSW Steel:
Motilal Oswal Financial Services said JSW Steel's partnership will help reduce debt by Rs 35,000 crore and focus on capacity expansion. The domestic brokerage said that the restructuring and JV collectively will allow the company to monetize a significant portion of the value created through the turnaround of BPSL. This will let JSW Steel reduce debt and focus on the long-term growth plan of expanding capacity to 50 mtpa.

&quot;We remain positive on the company outlook, estimating double-digit revenue growth in FY26/FY27, driven by the ramp-up of new capacity and price recovery. Further, as input costs are expected to remain soft, we believe EBITDA margin will rebound to 18-19% in FY26/FY27 (~INR12,000/t in FY26E and ~INR13,500/t in FY27E) on account of domestic steel price recovery, led by safeguard duty. The recent development will support JSTL’s deleveraging plan. Its net debt-to-EBITDA ratio declined to 2.97x as of 2QFY26, which we expect to decline to 1.7x by FY27E, supported by robust operating profit,&quot; Motilal said.

The domestic brokerage kept a 'Buy' rating on the stock, with a target price of Rs 1,350 per share. This implies an upside potential of nearly 16 percent from the stock’s current market price.
JM Financial on JSW Steel:
JM Financial said that the transaction boosts JSW Steel's liquidity and enhances balance sheet capacity for organic and inorganic growth, supporting its long-term capex roadmap toward 50 mtpa by FY31. &quot;Management has emphasised that the JV will remain independent rather than merge with JSW Steel, ensuring governance clarity, financial ring-fencing and aligned partner participation. JSW will continue as co-owner, operator and project executor, retaining control over value creation,&quot; it said.

The domestic brokerage concluded that the deal strengthens JSW’s balance sheet, accelerates its long-term growth pathway and fits JFE’s global expansion strategy. JM Financial kept a 'Buy' call on the stock and a target price of Rs 1,350 per share, implying an upside potential of around 16 percent from the stock’s current market price.
Emkay Global on JSW Steel:
Emkay Global said that the restructuring unlocks value from BPSL and delivers a sharp balance-sheet reset. &quot;This monetization step also delivers a material balance-sheet benefit, with JSTL achieving Rs370bn of deleveraging following the sale and associated debt transfer. We understand immediate deleveraging and getting prepared for the next leg of capacity expansion cycle—at a time when steel consumption growing at 8-9% pa is expected to push the market into a deficit in the next 2–3 years— as key rationale for this transaction,&quot; the domestic brokerage said.

It kept an 'Add' rating on the stock, with a target price of Rs 1,200 per share. This implies an upside potential of nearly 3 percent from the stock’s current market price.
Yes Securities on JSW Steel:
Yes Securities in its note said that the move &quot;creates a clean, ring-fenced platform for the JV and unlocks significant embedded value within BPSL while setting the stage for the next leg of expansion&quot;. &quot;The new JV will carry ~Rs 215bn of ring fenced, non-recourse debt, significantly strengthening JSW Steel’s capital structure and enhancing its ability to fund ongoing capex at Dolvi, Vijayanagar, Odisha Phase-1, and Salav,&quot; the domestic brokerage said.

It kept a ‘Neutral’ call on the stock, with a target price of Rs 1,228 per share. This implies an upside potential of more than 5 percent from the stock’s current market price.
Elara Capital on JSW Steel:
Elara Capital said that the joint venture with JFE Steel Corporation of Japan brings together the execution strength of JSW Steel and the manufacturing technology expertise of JFE Corporation, enabling a wider portfolio of value-added steel products.

However, the domestic brokerage advised caution as it believes that the recent positives have already been priced in the stock price. It maintained its ‘Sell’ rating on the stock with a target price of Rs 994 per share. This implies a downside potential of nearly 15 percent from the stock’s current market share.
JSW Steel share price:
JSW Steel shares have fallen nearly 2 percent in the past five days, but gained more than 20 percent in the past six months.

The stock is up around 29 percent in 2025 so far. Its P/E ratio currently stands at around 51.

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/constructioncontracting-civil/hindustanconstructioncompany/HCC">Hindustan Construction Company</a> (HCC) appeared to have dropped around 23 percent in a single session on December 5. This came as the stock adjusted to its rights issue.

After closing at Rs 25.94 per share on Thursday, the stock had opened at Rs 19.99 per share on Friday. The stock in reality fell nearly 9 percent to close at Rs 19.91 apiece on December 5.
<h3><strong>HCC rights issue:</strong></h3>
Earlier on November 26, HCC announced that its board of directors has considered and approved the issuance of fully paid-up equity shares with a face value of Rs 1 each for an amount not exceeding Rs 1,000 crore via rights issue to eligible shareholders as on the record date.

As part of the rights issue, the company had planned to issue around 80 crore rights equity shares at a price of Rs 12.50, including a premium of Rs 11.50 per share.

"The Rights Equity Shares are being offered on a Rights basis to Eligible Equity Shareholders in the ratio of 277 Rights Equity Shares for every 630 fully paid-up Equity Shares held on the record date," the company said, adding that December 5 was the record date to determine the eligibility of the shareholders set to participate in the scheme.

The rights issue will open on December 12, and the last date for on market renunciation of rights entitlements has been set on December 17. The rights issue will close on December 22.
<h3><strong>What does it mean for shareholders?</strong></h3>
A rights issue offers shareholders the opportunity to buy extra shares of the company at a discounted price. Shareholders owning the shares as on the record date will receive rights entitlements (REs) in demat accounts, which he or she can use to apply for the rights issue or trade on the market.

In case the shareholder fails to use the REs for rights issue within the stipulated time, they will expire. Only those shareholders owning the shares of the company as on the record date will receive the REs.
<h3><strong>HCC share price:</strong></h3>
HCC shares have fallen 0.5 percent in the past one week, and nearly 15 percent in the past one month. The stock has fallen more than 38 percent in 2025 so far, and nearly 48 percent in the past one year.

Its P/E ratio stands at around 20.

HCC shares fall 9% after adjusting to Rs 1,000-crore rights issue: What it means for shareholders

The shares of Hindustan Construction Company (HCC) appeared to have dropped around 23 percent in a single session on December 5. This came as the stock adjusted to its rights issue.

After closing at Rs 25.94 per share on Thursday, the stock had opened at Rs 19.99 per share on Friday. The stock in reality fell nearly 9 percent to close at Rs 19.91 apiece on December 5.
HCC rights issue:
Earlier on November 26, HCC announced that its board of directors has considered and approved the issuance of fully paid-up equity shares with a face value of Rs 1 each for an amount not exceeding Rs 1,000 crore via rights issue to eligible shareholders as on the record date.

As part of the rights issue, the company had planned to issue around 80 crore rights equity shares at a price of Rs 12.50, including a premium of Rs 11.50 per share.

&quot;The Rights Equity Shares are being offered on a Rights basis to Eligible Equity Shareholders in the ratio of 277 Rights Equity Shares for every 630 fully paid-up Equity Shares held on the record date,&quot; the company said, adding that December 5 was the record date to determine the eligibility of the shareholders set to participate in the scheme.

The rights issue will open on December 12, and the last date for on market renunciation of rights entitlements has been set on December 17. The rights issue will close on December 22.
What does it mean for shareholders?
A rights issue offers shareholders the opportunity to buy extra shares of the company at a discounted price. Shareholders owning the shares as on the record date will receive rights entitlements (REs) in demat accounts, which he or she can use to apply for the rights issue or trade on the market.

In case the shareholder fails to use the REs for rights issue within the stipulated time, they will expire. Only those shareholders owning the shares of the company as on the record date will receive the REs.
HCC share price:
HCC shares have fallen 0.5 percent in the past one week, and nearly 15 percent in the past one month. The stock has fallen more than 38 percent in 2025 so far, and nearly 48 percent in the past one year.

Its P/E ratio stands at around 20.

The shares of Computer Age Management Services (<a href="https://www.moneycontrol.com/india/stockpricequote/finance-investment/computeragemanagementservices/CAM">CAMS</a>) appeared to have dropped nearly 80 percent in one single day to open at Rs 791.40 apiece on December 5. This comes as the stock adjusted to a stock split earlier announced by the company.

In reality, the stock fell nearly 2 percent to close at Rs 777 per share. Earlier during the day, the stock fell around 4 percent to hit an intraday low of Rs 758.70 per share.
<h3><strong>CAMS stock split:</strong></h3>
Earlier in October this year, CAMS had announced that its board of directors has considered and approved a stock split in the ratio of 1:5. It later set December 5 as the record date to determine the eligibility of the shareholders set to receive the payments.
<h3><strong>What it means for shareholders?</strong></h3>
This means that every share of the company, which has a face value of Rs 10, will be divided into five shares with a face value of Rs 2 each. Shareholders holding the shares of the company as on the record date will be eligible to be part of the scheme.

A company announces stock split to increase the overall liquidity of the stock. While this increases the total number of shares, it does not change the market capitalization of the company. This makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.
<h3><strong>CAMS share price history:</strong></h3>
CAMS shares have made marginal gains in one week, and rose more than 2 percent in the past one month. The stock is however down nearly 24 percent in 2025 so far, after rising more than 69 percent in the past three years.

The P/E ratio of the stock stands at over 210.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/share-market-live-today-sensex-nifty-bank-nifty-midcap-small-cap-updates-liveblog-13711636.html">LIVE updates</a> from the stock markets here.

<em>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.</em>

CAMS shares adjust to 1:5 stock split: Here's why you should ignore the 80% plunge

The shares of Computer Age Management Services (CAMS) appeared to have dropped nearly 80 percent in one single day to open at Rs 791.40 apiece on December 5. This comes as the stock adjusted to a stock split earlier announced by the company.

In reality, the stock fell nearly 2 percent to close at Rs 777 per share. Earlier during the day, the stock fell around 4 percent to hit an intraday low of Rs 758.70 per share.
CAMS stock split:
Earlier in October this year, CAMS had announced that its board of directors has considered and approved a stock split in the ratio of 1:5. It later set December 5 as the record date to determine the eligibility of the shareholders set to receive the payments.
What it means for shareholders?
This means that every share of the company, which has a face value of Rs 10, will be divided into five shares with a face value of Rs 2 each. Shareholders holding the shares of the company as on the record date will be eligible to be part of the scheme.

A company announces stock split to increase the overall liquidity of the stock. While this increases the total number of shares, it does not change the market capitalization of the company. This makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.
CAMS share price history:
CAMS shares have made marginal gains in one week, and rose more than 2 percent in the past one month. The stock is however down nearly 24 percent in 2025 so far, after rising more than 69 percent in the past three years.

The P/E ratio of the stock stands at over 210.

Follow all LIVE updates from the stock markets here.

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 Indian IT companies gained in trade on December 5, pushing the Nifty IT index higher up in the green to extend gains for the third consecutive session. This comes amid rising expectations of a rate cut by the US Federal Reserve.

The Nifty IT index gained around 301 points (0.8 percent) to 38,661.95, as seen at 2.45 pm. The index has emerged as one of the top sectoral gainers today.
<h3><strong>Fed rate cut hopes:</strong></h3>
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. The American central bank is now expected to reduce its key interest rate by a quarter-percentage point during its FOMC meeting scheduled from December 9-10, a Reuters poll of over 100 economists found.

"I'm expecting the Fed will cut at the meeting next week. I know there's been a lot of back and forth especially after October about Powell being somewhat hawkish, but that, I think, was more about a lack of available data due to the shutdown," said Thomas Simons, chief US economist at Jefferies.

Fed Governor Christopher Waller recently said that the American job market is weak enough to warrant another quarter-point rate cut in December. Earlier, New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, said that interest rates can fall "in the near term".

"I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral," Williams said.
<h3><strong>How Fed's rate cut decision impacts Indian IT companies?</strong></h3>
A rate cut in the US is expected to increase the discretionary spending limit, which in turn benefits IT companies which derive a significant portion of their revenue from the North American market.
<h3><strong>Top IT gainers today:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/hcltechnologies/HCL02">HCL Technologies</a> shares jumped nearly 2 percent to trade at Rs 1,682.90 apiece. Mphasis and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> shares rose more than 1 percent each.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/wipro/W">Wipro</a>, Persistent Systems and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4">Tech Mahindra</a> shares were nearly 1 percent, while Coforge, LTIMindtree and Tata Consultancy Services (TCS) shares were trading in the green with marginal gains.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/share-market-live-today-sensex-nifty-bank-nifty-midcap-small-cap-updates-liveblog-13711636.html">LIVE updates</a> from the stock markets

<em>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.</em>

IT shares rise for 3rd day on rising US rate cut hopes; HCLTech, Mphasis lead gains

The shares of Indian IT companies gained in trade on December 5, pushing the Nifty IT index higher up in the green to extend gains for the third consecutive session. This comes amid rising expectations of a rate cut by the US Federal Reserve.

The Nifty IT index gained around 301 points (0.8 percent) to 38,661.95, as seen at 2.45 pm. The index has emerged as one of the top sectoral gainers today.
Fed rate cut hopes:
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. The American central bank is now expected to reduce its key interest rate by a quarter-percentage point during its FOMC meeting scheduled from December 9-10, a Reuters poll of over 100 economists found.

&quot;I'm expecting the Fed will cut at the meeting next week. I know there's been a lot of back and forth especially after October about Powell being somewhat hawkish, but that, I think, was more about a lack of available data due to the shutdown,&quot; said Thomas Simons, chief US economist at Jefferies.

Fed Governor Christopher Waller recently said that the American job market is weak enough to warrant another quarter-point rate cut in December. Earlier, New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, said that interest rates can fall &quot;in the near term&quot;.

&quot;I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral,&quot; Williams said.
How Fed's rate cut decision impacts Indian IT companies?
A rate cut in the US is expected to increase the discretionary spending limit, which in turn benefits IT companies which derive a significant portion of their revenue from the North American market.
Top IT gainers today:
HCL Technologies shares jumped nearly 2 percent to trade at Rs 1,682.90 apiece. Mphasis and Infosys shares rose more than 1 percent each.

Wipro, Persistent Systems and Tech Mahindra shares were nearly 1 percent, while Coforge, LTIMindtree and Tata Consultancy Services (TCS) shares were trading in the green with marginal gains.

Follow all LIVE updates from the stock markets

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.

Auto Ancillaries - Sheet Metals Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Sheet Metals industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

British American Tobacco affiliates offload 9% stake in ITC Hotels for Rs 3,856 crore, HCL Capital picks up 7% shares

JSW Steel shares rise 2% in two days: Brokerages remain bullish after firm's JV with Japan's JFE Steel

HCC shares fall 9% after adjusting to Rs 1,000-crore rights issue: What it means for shareholders

CAMS shares adjust to 1:5 stock split: Here's why you should ignore the 80% plunge

IT shares rise for 3rd day on rising US rate cut hopes; HCLTech, Mphasis lead gains

Auto Ancillaries - Sheet Metals Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Sheet Metals industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

British American Tobacco affiliates offload 9% stake in ITC Hotels for Rs 3,856 crore, HCL Capital picks up 7% shares

JSW Steel shares rise 2% in two days: Brokerages remain bullish after firm's JV with Japan's JFE Steel

HCC shares fall 9% after adjusting to Rs 1,000-crore rights issue: What it means for shareholders

CAMS shares adjust to 1:5 stock split: Here's why you should ignore the 80% plunge

IT shares rise for 3rd day on rising US rate cut hopes; HCLTech, Mphasis lead gains

Auto Ancillaries - Sheet Metals Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Sheet Metals industry stocks.