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Presentation Operator MessageOperator Ladies and gentlemen, good day, and welcome to Persistent Systems Earnings Conference Call for the Fourth Quarter of FY '24 ended March 31, 2024. We have with us...
FIIs raised stakes in multiple IT stocks in Q4, hoping for a turnaround in FY25. However, they sold IT stocks in April, leading to a 4.4% drop in the Nifty IT index. Various companies and sectors were involved in these transactions.
BPCL, Tata Consumer Products, Eicher Motors, L&T and Shriram Finance were among top Nifty gainers. The losers included NTPC, HDFC Bank, JSW Steel, IndusInd Bank and Tata Steel
Sensex surged 560 points, Nifty gained 189 points. Top contributors were ICICI Bank, L&T, Infosys, Axis Bank, Reliance Industries, SBI, Bajaj Finance. Conversely, HDFC Bank and NTPC weighed on the index.
Deepak Shenoy's Capital Mind ventures into various sectors with a focus on power transformers, hospitality, and financial investments. Uncertainty surrounds the FOMO crowd's return, Vodafone FPO, and the evolution of the diagnostics space. Sheoy also days: "On the pricing power front, travel and hospitality has really increased in the last year or so. So, something could have fundamentally changed there."