Jefferies has downgraded Indian information technology (IT) companies Infosys, HCLTech, and Mphasis to "hold"; LTI MindTree, Tata Consultancy Services (TCS) and Hexaware to "underperform", citing artificial intelligence (AI)-related concerns. Coforge, Sagility and IKS, however, still remain its top picks.
A Jefferies report warns that the IT services sector is set for a structural shift due to AI, requiring talent and operating model overhauls and increasing cyclicality.
Lok Sabha proceedings were adjourned till 12 noon on Friday after opposition members raised slogans demanding the resignation of Union Minister Hardeep Singh Puri and protesting against the India-US interim trade agreement.
The selloff in domestic information technology stocks intensified on Friday, with the Nifty IT index sliding as much as 5.2 per cent during the session before paring losses to close 1.44 per cent lower.
The Congress party has alleged that convicted sex offender Jeffrey Epstein played a role in shaping the India-Israel relationship after 2014, citing email exchanges made public under the 'Epstein Files'.
'The day that the market realises that they've overspent (on AI) and there's a sudden collapse in the capex, then India can start outperforming again.'
Puri's clarification came after Gandhi claimed that the Union minister's name has also figured in 'Epstein Files' released in the US.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
'A breakout above 158,000 to 160,000 could trigger the next leg higher toward 165,000 to 170,000.'
Analysts have sharply reduced cigarette maker ITC's earning estimates for the next two years, fearing a significant dent in the company's profitability and margins. This is owing to a steep hike in excise duty on tobacco by the government.
The stock of Bharti Airtel, India's largest listed telecommunications (telecom) services provider, recently hit an all-time high on expectations of higher average revenue per user (Arpu), a stable market setup, and fresh revenue lines.
'...since the pandemic, driven by the worlds of influencers and Bollywood.'
Indian Grandmaster Vidit Gujrathi bowed out of the World Chess Cup after a 2.5-3.5 loss to Sam Shankland of United States in the second set of tie-break games of third round, in Panjim on Sunday.
The steep 50 per cent tariffs imposed by the United States on Indian goods are largely a result of President Donald Trump's 'personal pique' at not being allowed to mediate in the India-Pakistan conflict, according to a recent report by American multinational investment bank and financial services company Jefferies.
Harikrishna continued his success story with the seasoned Grandmaster, who famously assisted Gukesh in the World Championship title match, showcasing his skills as a brilliant attacker.
Grandmasters Raunak Sadhwani and S L Narayanan, India's two best hopes, were held to draws by Daniel Barrish of South Africa and Steven Salas Rojas of Peru in the first game of the opening round of World Chess Cup, in Panjim, on Saturday.
World champion D Gukesh bowed out of the Chess World Cup, losing the third-round match to Frederik Svane of Germany, while Arjun Erigaisi and R Praggnanandhaa made it to the last-32 stage, in Panjim on Saturday.
Several companies across sectors like finance, healthcare, wellness, retail technology, and asset management are bracing up to hit the D-street. With an unprecedented 1.7 lakh crore raised in 2025, the momentum is likely to sustain in 2026.
'The pace of gold's ascent is striking, with prices rising from $3,500/oz to $4,000/oz in just 36 days -- far quicker than the historical average of 1,036 days taken to achieve similar $500/oz gains.'
From Bengaluru to GIFT City, British universities scale up India presence, cementing the UK's lead in global higher education partnerships.
Looking to assert his supremacy across formats, reigning world champion D Gukesh of India began his campaign in the FIDE Grand Swiss in Samarkand, Uzbekistan, with a crushing victory over France's Etienne Bacrot in the first round.
Women's World Cup winner Divya Deshmukh, who has also qualified for the Women's Candidates, has opted out of the women's section to compete with the best in business.
Reliance holds 67.03% of Jio Platforms Limited and the public listing would provide an exit to many investors.
'A price of $6,600/oz is now a reasonable target for gold.'
ITC stock slipped over 4 per cent on Thursday (February 8) after British American Tobacco (BAT) said it could sell some of its stake in the company, recovering partially in trade. The stock of the cigarette-to-hotels conglomerate traded at Rs 420 levels, rising 1.3 per cent in intraday deals as compared to the S&P BSE Sensex that traded flat for most part of the day. The development, meanwhile, saw Jefferies downgrade the stock to 'hold' from 'buy' earlier with a target price of Rs 430, down a huge 17.3 per cent from its earlier price target of Rs 520.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Global travel tech firm OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a $7-8 billion valuation for its IPO, sources said. The company is expected to approach its board with the proposal next week, people familiar with the matter told PTI.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
Reliance Industries Ltd has consistently remained compliant with international sanctions and is expected to adhere to upcoming measures on Russian oil, analysts said, estimating that oil sourced from Russia contributes just 2.1 per cent to its consolidated EBITDA. Reliance operates the world's largest single location refining complex, with more than half of the capacity exclusively dedicated for exports.
R Praggnanandhaa was held to a draw by the world's youngest-ever Grandmaster Abhimanyu Mishra of the United States.
'If nominal growth improves and earnings pick up, Indian stock markets could see a rally next year.'
Recent developments - proposed changes to the goods and services tax (GST) rates and S&P Global Ratings' upgrade of India's long-term sovereign credit rating to BBB, with a stable outlook, - may not be enough to bring foreign investors back to Indian markets in a rush, feel analysts.
Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialisation.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
In her letter to the Sona BLW board, Rani Kapur said documents executed by her at a time of "mental and emotional vulnerability" were being misused.
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
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