IT stocks on Wednesday rose as much as 3 per cent in an otherwise weak stock market after sentiments turned buoyant amid the rupee sinking to an all-time low of 60.35 against the dollar, as the stronger US currency boosts the sales of software firms in rupee terms.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Persistent, L&T Technology and TechM named among leading service providers
In 2010, TCS's brand value was $2.3 billion.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
Infosys management has guided for a seven per cent growth in FY15.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Shares of Infosys surged almost 7 per cent on Friday after the IT major reported a 13 per cent growth in consolidated net profit for the quarter ended December 2014.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The market breadth, indicating the overall health of the market, was positive
IT stocks attracted robust demand on Monday, rising by as much as over 2 per cent, on hopes that the rupee's weakness will boost dollar revenues of the software firms.
Infosys forecast a 10.8-12.3 per cent sales growth in the US dollar terms for 2016-17.
Revenues, profit margins will be hit in the next one year, but more demand in the longer run.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The total market valuation of all BSE-listed firms on Thursday regained the Rs 100-trillion mark as the benchmark Sensex climbed over 600 points after the RBI surprisingly cut interest rate by 25 basis points.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Recalling some of his fiercest battles with Sachin Tendulkar, legendary Australian bowler Glenn McGrath has said it ended 50-50 between them but the Indian batting genius was really furious when he was declared out after a low bouncer hit his shoulder. McGrath said he spends a lot of time in India, has got a lot many friends there and always catches up with Tendulkar when he is in Mumbai, but many Indians still tell him they have not forgiven him for getting Sachin out in the 2003 World Cup final.
4 MNCs among top 10 companies with dividend-earning promoters in FY15.
Their plan to build a product portfolio will discourage global software vendors such as Oracle, Microsoft and Fidelity, among others, from building a strategic relationship with these big Indian IT firms, reports Debasis Mohapatra.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Modest growth projections hits IT sector.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
When it comes to rewarding top- performing employees, many large corporates are giving out expensive gifts such as latest iPhones, Mercs, flats and jewellery
Only double-income households can buy flats in India's top 8 cities, except Mumbai
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Creating history, leading exchange BSE on Wednesday peaked above Rs 100-trillion mark to scale a new record in terms of market wealth of all listed firms.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Nifty is up 6.5% in the last 12 months. The NSE IT Index is down 10% in the same period. But will the sentiment improve going ahead?
The market breadth, indicating the overall health of the market turned negative from positive
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