In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Accenture's Q1 FY22 results have sent a wave of cheer among analysts, as the company raised its revenue guidance and said it expects double-digit growth in outsourcing, up from single digit to low double-digit growth expected earlier. Accenture's financial year ends on August 31. The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Stocks below a certain size in terms of market capitalisation don't attract much institutional interest
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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India's export-oriented information technology outsourcing industry is perhaps more optimistic today about growth prospects than it was in the past five years.
HDFC and HUL are the latest entrants in the club
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
The December quarter, generally a soft one for India's IT sector due to holidays and furloughs in certain sectors, is expected to be further affected because of currency volatility.
Indian names that figure on the list, but lower down the pecking order include Tatat (101). Airtel (rank: 252), Infosys (287), Life Insurance Corporation of India (292), State Bank of India (334), HCL (390), Indian Oil (427), Reliance (445) and Larsen & Toubro (464).
Bloomberg estimates revenue at Rs 25,328 crore, up 4.6per cent sequentially and EBITDA margin of 27.2per cent
They need to upgrade their skills and become smaller, smarter organisations, says Devangshu Datta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
Combined net profit up 7.4% over a year ago, versus 11.2% in Q2.
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
A 150 basis points fall in realisations too weighed on the top-line.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
'Kindly advise about the following stocks. Can I hold or exit?'
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
Why hasn't India produced a single earth-shaking idea like Python or the World Wide Web, asks Ajit Balakrishnan.
Tatas' brand value grows 12% in the past year, far ahead of Reliance and Airtel.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
Analysts factor in 200-300-bps impact on sales in FY16
Sensex closed over 118 points down on Thursday.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
It goes without saying that the best performers are in the private sector, says TN Ninan.
IT stocks saw massive selling pressure on Monday, falling as much as 6 per cent, after the rupee surged to 58.37 against the US dollar intra-day.
Nadar and his family donated Rs 826 crore, while Azim Premji gave Rs 453 crore and Ambani parted with Rs 402 crore, according to the Edelgive Hurun India Philanthropy List 2019.
'Cognizant's results indicate that digital related spends can more than offset headwinds in traditional services'
Stocks of companies having operations and exports to Europe were the top losers.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
The recovery was led by information technology exporters.
Making employers provide creche facilities would be a powerful incentive for women to stay on in the workforce rather than drop out owing to the pressure of child care, says Shuma Raha.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
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