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After shedding 4% in the March quarter and testing the lowest level since September 2022, the benchmark Nifty50 rebounded sharply and surged more than 10% in the June quarter. In fact, from the March lows, the index is up about 19%, thanks to the continued inflows from FPIs.

The June 2023 quarter earnings season so far has been muted on account of results disappointments or slower growth in IT, cement, metals and oil & gas sectors.

The state-owned insurers stake in LTTS rose 117 bps to 5.7%, Infosys 64 bps to 8.83%, HCL Tech 32 bps to 4.55%, LTIMindtree 24 bps to 3.36%, Wipro 17 bps to 4.59% and TCS 16 bps to 4.63%.

The New Jersey-based company expects current-quarter revenue of between $4.89 billion and $4.94 billion, compared with analysts estimates of $4.86 billion, according to Refinitiv data.

Gautam Shah of Goldilocks Premium Research, predicts that the Nifty index will eventually reach 22,400 in 12-18 months. Banks and metals look interesting, while FMCG may underperform. IT has potential for a bottom-out, especially in midcaps, due to the digitalisation and AI-led rally. Shah recommends buying TCS and Tech Mahindra as these stocks may outperform the IT index. Shah advises against shorting in a bull market, and recommends buying the dips and staying with the trend of the market.

Lake Street Capital lowered shares of The Container Store Group (NYSE:TCS – Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $3.50 price objective on the specialty retailer’s stock, down from their previous price objective of $5.00. A number of […]

TCS Microsoft Business Unit (MBU) works with customers worldwide to accelerate their cloud transformation journey and is composed of 50,000 Microsoft-certified associates.

TCS’ Microsoft Business Unit (MBU) works with customers worldwide to accelerate their cloud transformation journey and is composed of 50,000 Microsoft-certified associates.

Market data shows LIC ownership went up in at least 40 stocks and trimmed holdings in 75 other counters. LICs stake rose 409 bps in fertiliser-maker Kothari Industrial Corporation, 301 bps in Tata Chemicals, 240 bps in SAIL, 173 bps in Bata India and 164 bps in IEX.

The share of women employees across the top five IT companies stood at 34.1% at the end of the first quarter of 2023-24, up from 31.7% as of the first quarter of 2017-18, Xpheno data showed.