After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
The Tamil Nadu chief minister, who is in Pudukottai on an official visit to review anti-COVID-19 measures and development projects in the district told reporters that vaccination shall cover all sections of the society.
The brokerage believes the economic growth cycle is not fully priced in. It has revised upwards the earnings per share (EPS) estimate for Sensex.
'If the EPS government falls, Sasikala will return. If EPS wins, he will become an indispensable leader and Sasikala will not be able to return.' T E Narasimhan reports.
Bajaj Finance's quarterly business update, coupled with around 24 per cent fall over the past six months, has turned risk-reward favourable for investors, observe analysts. They see up to 39 per cent upside in the stock, from a one-year perspective. Global brokerage CLSA, for instance, has upgraded the stock from 'underperform' to 'outperform' with an increased one-year target price of Rs 6,600 (vs Rs 6,000 earlier) as it believes the risk-reward has turned favourable for the counter, and there is scope for expansion if growth remains robust.
The trend in corporate earnings suggests that index earnings could fall to the levels last seen in early 2014.
The CM, along with Lok Sabha Deputy Speaker M Thambidurai, met the PM at his office in Parliament House.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
Factionalism between OP Panneerselvam and Edappadi Palaniswami, the dominance of the BJP, the ruling DMK having a strong face in the form of CM Stalin, 'community and region-based politics', corruption charges against former ministers, and lack of a proper ideology are the major challenges the party is facing in the state.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
Arjunan claimed that some persons belonging to the DMK in the guise of public abused him and his mother.
At 70, going by hospital records made public, most age and health-related arguments put out against super-star Rajinikanth's entry into politics, before he withdrew citing a 2016 kidney-transplant, hold good for Sasikala, too, says N Sathiya Moorthy.
Ahead of VK Sasikala's return to Tamil Nadu on February 8, there are some important questions facing her. One, does she carry electoral weight more now than her brainchild AMMK had in the 2019 LS polls? Two, can she retain or build upon the five per cent vote-share from that time? And finally, is there space for Sasikala to retrieve, first within the AIADMK and then across the state, says N Sathiya Moorthy.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Though EPS has sworn peace for now, or so it seems, his camp is said to be considering the possibility of calling an early meeting of the party's general council, to get a mandate in his favour before things went out of control. Ground-level indications are that OPS had lost his limited base, which alone had forced him to patch up with the other, reportedly at the instance of the BJP ally at the Centre, says N Sathiya Moorthy.
The chief government whip on Thursday sought their disqualification for alleged anti-party activities.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
IT company Wipro on Friday posted a 4 per cent rise in consolidated profit at Rs 3,092.5 crore in the fourth quarter ended March 2022. The company had registered a profit of Rs 2,974.1 crore in the same period a year ago. "We have had an outstanding year, finishing with USD 10.4 billion in revenues, and an industry-leading growth of 27 per cent Year-on-Year (Y-o-Y).
The Tamil Nadu voter may not be in the mood to test new talent, not when the state and the people are going through unprecedented and unanticipated crises, of which coronavirus is only the first. All of it boils down to an election between the ruling AIADMK and the Opposition DMK next year, with small-timers, had-been parties and promised parties left on the sidelines, says N Sathiya Moorthy.
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
The PM wanted me to join the ministry headed by Palaniswami, says OPS.
He however said: "Several advantageous features for Tamil Nadu find place in the verdict."
The delegation comprised DMK leaders R S Bharathi, T K S Elangovan and Tiruchi N Siva.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
Assembly elections in Tamil Nadu are centred on chief ministerial candidates of rival parties. When Sasikala cannot contest even a panchayat election for six years after her release, even if she were to have sympathetic backers even among apolitical voters, she does not have any 'transferrable vote-bank' even otherwise for a chief minister candidate of her choice, says N Sathiya Moorthy.
The fracas between Chief Minister Edappadi K Palaniswami and his deputy O Panneerselvam on Monday over who will be projected as the CM candidate in next year's assembly polls not only points to a possibility of another vertical split in Tamil Nadu's ruling party but will also come as sweet music for the opposition DMK which in the past stood to gain from the AIADMK's squabbles, says N Sathiya Moorthy.
Smaller stocks continue to shine at the bourses. The BSE MidCap index is up 18 per cent since the beginning of January this year against a 5 per cent rise in the Sensex during the period. With the current rally, the mid-cap index has doubled in value since the end of March 2020 against a 70 per cent rally in the Sensex during the period. On Tuesday, the mid-cap index closed at 21,232, as compared to 17,941 at the end of December 2020. In the same period, the benchmark index moved from 47,751 to 50,193.
Don't exit from growth-style funds as they may benefit next from a shift in investor preference.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Importantly, after the interest rate rises by the Reserve Bank of India (RBI) in the recent past, there is a high probability of corporate India getting hit on profits.
He demanded an order for CM, seeking a vote of confidence.
At an Onam celebration that took place recently at the Indian consulate in Dubai, Muraleedharan said nobody knows how legendary king Mahabali got linked with the celebrations.
A meeting presided over by Palaniswami said the appointment of Dinakaran as deputy general secretary was against party rules.
'See, nobody asked "Michael Jackson arrey, aap aaj kal toh filmon mein nahi gaate ho".' 'The problem is in India, a lot of undue importance is given to film singing.'
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
'OPS did not back off.' 'He wanted transparency and he got it.'
An adverse judgement could have triggered a political realignment in Tamil Nadu and brought the ruling party perilously close to losing its majority in the state assembly whose effective strength is 232. Two seats are vacant.
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