HCL Tech Bags Deal From Tenneco; Stock Gains Nearly 2% HCL will help Tenneco enhance their IT simplification, modernization and transformation journey while helping to reduce technical complexities and support the global IT application portfolio
Updated: April 01, 2021 10:58 am IST
At 10:35 am, the shares of HCL Tech were trading higher by 1.9 per cent at Rs 1,002 on BSE
HCL Technologies (HCL) has announced an agreement with Tenneco Inc, a leading Fortune 500 global tier-1 automotive supplier and manufacturer, for a multi-year, integrated application development, modernization, and operations services contract. As part of the engagement, HCL will help Tenneco enhance their IT simplification, modernization and transformation journey while helping to reduce technical complexities and support the global IT application portfolio, HCL Tech said in a regulatory filing with the stock exchanges post market hours on Wednesday.
Initiation range: Rs 1,045-1055 Target: Rs 990 Stop loss: Rs 1,075 Voltas has been hovering in a range after the phenomenal run from roughly Rs 425 to a record high of Rs 1,132. It slipped below the immediate support zone of the short-term moving average (20-EMA) on the daily charts on March 16 and is likely to see some profit-taking ahead. Traders may consider creating fresh shorts in the mentioned zone. ============================================================================= http://www.religareonline.com/disclaimer Dear Reader,
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Source: NSE, Nifty50 at closing prices on March 15
Tech Mahindra is the best performing stock among its IT peers. One of the reasons is its latest acquisition Hyderabad-based Perigord. Tech Mahindra has bought up 70% stake to acquire the leading supplier of consultancy and labelling artwork solutions to the global pharmaceutical industry.
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But the cumulatively strength of the industry to stay in the green has more to do with the hopes of a stronger dollar. Like India, the US is currently caught in the conundrum of chasing growth and rising prices.
Investors in the US and Europe are on an earning streak, parking their funds in government securities at near-zero interest rates and making even more in emerging markets like India. But these low interest rates are not likely to last forever.
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BUY HDFC AMC | TARGET: Rs 3,150 | STOP LOSS: Rs 2,850 The stock was in a strong uptrend and witnessed some profit booking from the higher levels. If we take the retracement of the entire rally, then the stock has found support at 38.2 per cent retracement levels which is placed at 2,850 levels. The momentum indicator RSI and MACD are very well in the buy mode on the weekly time frame and hints of a trend reversal on the higher side.
BUY ICICIGI | TARGET: Rs 1,425 | STOP LOSS: Rs 1,340 The stock formed an inside bar pattern on the daily chart which is considered as a bullish reversal pattern. On the daily time frame, the stock has found support at the placement of 200 DEMA and 200 DSMA, and this support are intact since April 2020. The momentum indicator RSI is showing signs of reversal from the oversold territory and MACD has provided a fresh buy crossover on the hourly chart which hints of a further momentum on the higher side.