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Nifty gained 2% weekly but declined Friday due to US inflation concerns, geopolitics, FIIs selling. Markets closed May 1 for Maharashtra Day. Key factors to watch include US Fed FOMC, Q4FY2024 earnings, and technical factors. "Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market."
In the coming truncated week, the market is expected to consolidate with a positive bias, with focus on Fed interest rate decision, corporate earnings, monthly auto sales numbers, and manufacturing PMI data, experts said.
Automotive clients account for up to 35% of IT services' manufacturing clients.India's top IT firms thus clearly draw meaningful revenue from carmakers around the world.With the advent of electric and tech-laden cars, IT's reliance on automotive revenue is now rising
The IPO could hit the market by the end of 2024. Separately, the conglomerate is also considering transferring some of its non-core assets to Tata Capital. The Tata Group is planning to bring about an IPO to restructure operations and make the company public.
Tata Tech share price: Shares of Tata Technologies Ltd were trading 0.28 per cent higher at Rs 1,085.60 in Wednesday's trade. At this price, the stock has fallen 8.03 per cent on a year-to-date (YTD) basis. Moreover, it has dropped 22.46 per cent from its all-time high value of Rs 1,400, a level seen on November 30 last year (listing day).