Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
The FMCG index gained more than 1% on the back of stellar gains in ITC.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
Market breadth is positive with 942 advances and 196 declines.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
The index rising for the fourth straight session surged 564 points.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
Consumer goods, durables, automobiles worst hit.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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).
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
Global cues lift Sensex 364 points; Nifty ends above 8,650.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
Investors lost Rs 2 trillion as Sensex crashed on Tuesday.
Net profits may dip 4.9% y-o-y, but the silver lining is that performance may be better than the preceding quarter
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Dragged down by a massive fall in the stock market, total investor wealth slumped by nearly Rs 3 lakh crore on Tuesday as shares of over 2,200 listed firms ended in the red.
More than 10% (40 of 498 companies) have lost at least half their market value.
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.
ITC was the biggest gainer in the Sensex pack, rising nearly 3 per cent, followed by Kotak Mahindra Bank, ICICI Bank, Maruti, Bharti Airtel, State Bank of India, Sun Pharmaceutical Industries, Axis Bank, Reliance Industries, Hindustan Unilever and JSW Steel. On the other hand, Infosys, UltraTech Cement, HCL Technologies, Bajaj Finserv, Larsen & Toubro, Titan, Tata Consultancy Services and Wipro were the laggards.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
Coal India was the biggest gainer on both Sensex and Nifty
