Nirvi Ashar News Today

Most analysts and fund managers Moneycontrol spoke to advised caution on the segment, adding, however, that there were pockets of opportunity.

Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.

Concern among minority shareholders about the Master Supply and Service Agreement proposed by Ambuja Cements is the main reason for the fall in share prices. They believe Sanghi Industries’ control on profitability will be limited under the agreement.

Out of the 45 stocks (with a market capitalisation of over Rs 500 crore) which had TTM PE multiples of over 100 a year ago, only 20 of them have given negative returns in the last one year. In fact, three of them - Zen Technologies, PTC Industries and Premier Explosives - have gone on to deliver multibagger returns and remain in the high PE zone even today.

"There is an apprehension that sales may be impacted with slower recovery in rural areas than expected," said Nirvi Ashar, fundamental research analyst at Religare Broking. The company is scheduled to announce its first-quarter results on August 4.

"There is an apprehension that sales may be impacted with slower recovery in rural areas than expected," said Nirvi Ashar, fundamental research analyst at Religare Broking. The company is scheduled to announce its first-quarter results on August 4.

While India Inc.’s Q4FY23 results were mixed to muted, the global macroeconomic environment is weighing on some export-oriented sectors

Disappointing growth by IT companies drags down corporate performance in the fourth quarter while consumer and auto sectors maintain sustained momentum, shows a Moneycontrol analysis of results announced by 180 companies so far.

Shares of Infosys and TCS have cracked 22.2 per cent and 11.30 per cent in the last 12 months till April 18, 2023. On the other hand, the BSE Sensex gained 4.5 per cent during the same period. Other large-cap IT majors including Wipro, HCL Technologies and Tech Mahindra have also declined 32 per cent, 4 per cent and 24 per cent, respectively, since April last year.

Most analysts dont see major announcements in the space, however, they expect some PLI-like incentives, some relief in GST (especially for electric vehicles), and further smoothening in the manufacturing process.