Tata Technology News Today

From Purvanchal to Paschimanchal, and from Madhyanchal to Bundelkhand, there will be no shortage of employment opportunities for the youth.

In a bid to bolster tourism and catalyse economic development in the state, the Uttar Pradesh government has announced a decision aimed at incentivising the hospitality industry. The government plans to significantly reduce property tax rates for hotels, thereby granting them industry status. The

“ if you look at most of the largecap names like Reliance, HDFC Bank and if you look slightly longer over the last say 12 months or so, even ICICI Bank has not done anything. Given the fact that both Reliance and HDFC Banks stocks have got a considerable weightage and they have not performed, that actually makes the case that when they start performing next year, there is a good probability that the largecaps might outperform midcaps for some time.”

Subhrajit Roy anticipates an acceleration in capital markets activity in 2024, in view of the deleveraging of corporate balance sheets and restarting of the capex cycle.

The short-term technical outlook for Nifty continues to be in favor of the bulls, with support seen at 20089-19909 and resistance at 20500-20751, says Prashanth Tapse, Senior VP (Research), Mehta Equities.

Nifty soared to new heights this week after breaching the key resistance level and closing strongly above the 20,000 level supported by better-than-expected GDP numbers and exit poll results.      

“The sector that IREDA is in, is clearly a monopoly or rather an oligopoly. It enjoys a durable competitive advantage. My sense is people who have got an allotment will hold on to it. Yes, there are a lot of listing gains; people would take on that but these are companies which over the longer term create good wealth.”

At a 140% premium over the issue price of Rs 500, Tata Technologies listing price of Rs 1,200 beat Streets estimates. While the stock was expected to double on the listing, it went far beyond, hitting the days high of Rs 1,400 on the NSE or a 180% uptick over the upper IPO price band.

The share allotment process for Tata Technologies' initial public offering (IPO), which closed on November 24, is likely to be finalised today

“The market definitely wants the larger number of sectors to play. Engineering R&D is one sector where you have likes of Tata Elxsi; you have likes of Cyient Technology, KPIT, LTI MindTree. Some of these companies which are having their niche position in that and that also adds into the Tata Technology kind of companies.”