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As small deals dry up, Indian IT prepares to declare FY24 as a year of drought

IT growth spiked during the pandemic as companies spent big on smaller projects. Now, the flood of small deals has dried up, leaving large deals in the market. But because of how the different deals work, the shift has impacted IT-service revenue. For Indian IT, the dearth of small deals is going to make an already bad FY24 much worse. ....

For Indian , Motilal Oswal , Tata Consultancy Services , Indian It ,

Nifty bulls or bears: Who will have the last laugh?

The recent rally in the stock market may be nearing its end, according to experts. They cite several short and medium-term risks, including potential global economic recession, signs of slowdown across sectors in India, and stretched valuations. The banking sector may no longer be attractive, as interest rates have peaked, while the IT sector is facing headwinds from the global economic fallout. Additionally, the consumption side of the economy is looking cloudy, with lower discretionary spending and inventory pile-ups. A 5-6% correction is needed to clear the froth, and investors are advised to be cautious in the short term. ....

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Biocon, Coal India among 7 stocks which have crossed 200-day SMA

Stocks such as Biocon, Coal India, Tata Consultancy Services, Indian Overseas Bank, Emami, Bandhan Bank, and Kotak Mahindra Bank have all closed above their 200-day Simple Moving Averages (SMA) on June 30, 2023. This indicates potential upward momentum and a possible bullish trend for these stocks. Biocon specializes in healthcare solutions, Coal India is a major player in the energy sector, TCS is a global leader in IT services, Emami focuses on consumer goods, and Bandhan Bank and Kotak Mahindra Bank are prominent private sector banks. ....

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