Page 45 - Tcs News Today

Coforge topped the list, the stock price gained 3.91% and open interest saw an increase of 10.43%. TCS stock price gained 3.9% and open interest saw an increase of 3.67%.

The market capitalization of all listed companies on BSE increased by Rs 2.76 lakh crore on Friday and by Rs 8.55 lakh crore this week to Rs 357.78 lakh crore. The 30-share BSE benchmark Sensex advanced 1,080 points or 1.53% to 71,594. The broader NSE Nifty surged 298 points or 1.41% to 21,481.

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Top IT firms like TCS, Wipro and Infosys have hugely contributed to the record spike of Nifty IT index over the last two days.

The Nifty IT index dropped 1.35% on Wednesday, while the benchmark Nifty ended flat. TCS shed 2% and Infosys fell almost 1.8%.

​​Noteworthy wealth creators in this period include Reliance Industries, TCS, ICICI Bank, Infosys and Bharti Airtel. Lloyds Metals emerged as the fastest wealth creator with the stock returning 79% on a compounded basis in this period.

“At current levels, one should look to go long on Mahindra & Mahindra Finance, look for a target of 315 on the upside, with a stop loss at 264 on the downside. The second stock is Piramal Enterprise, PEL. Again, as we speak, the stock is making new high but again at current levels, one can look to go long for a target of Rs 985 and if 985 is taken out.”

Companies helmed by two of Indias most richest men have earned the tag of being the largest and best all-rounder wealth creators for stock investors.

A Motilal Oswal report shows that Reliance Industries has emerges as the biggest wealth creator in the last five years.

Coming to the buildup of fresh short positions, when the stock prices move downward and open interest on the counter increases, it is taken as a sign of a long build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining.