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Mumbai (Maharashtra) [India], December 6 (ANI): The stock market opened on a positive note, with indices maintaining their upward momentum, signalling a bullish trend. Bulls have taken firm control, and despite potential challenges, the Nifty's momentum remains strong. The Sensex opened 294.06 points higher at 69,584.29, while the Nifty opened 78.95 points up at 20,934.65. Among the Nifty companies, 33 witnessed advances, while 17 faced declines. In the Nifty firm, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword>, <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>, <keyword id="333824" type="General" weightage="20" keywordseo="upl" source="Orion">UPL</keyword>, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword>, <keyword id="19728915" type="General" weightage="20" keywordseo="and-itc" source="Orion">and ITC</keyword> emerged as the top gainers, showcasing the strength of certain sectors. Conversely, Bajaj Auto, Eicher Motors, ICICI Bank, Hindalco, and Hero Motocorp faced declines in the early market hours. Varun Aggarwal, founder and managing director, Profit Idea, said, "Bulls have taken full charge. We suggested that in spite of all odds, Nifty momentum remains bullish. Expect the market to hit 21234-21410 in the medium term. For the short term, we expect that around 21k, Nifty should face resistance and can retrace back a bit. RSI on a daily time frame is overbought and some correction should come before resuming further bull trend. In such scenario, investors and traders should keep trailing stop loss or hedge their portfolios with bearish risk-defined strategies". Analysts anticipate the market to reach levels between 21,234 and 21,410 in the medium term. However, caution is advised for the short term, as around the 21,000 mark, Nifty might encounter resistance and experience a retracement. Aggarwal said, "Bulls have taken full charge. We suggested that in spite of all odds, Nifty momentum remains bullish. Expect the market to hit 21234-21410 in the medium term. For the short term, we expect that around 21k, Nifty should face resistance and can retrace back a bit. RSI on a daily time frame is overbought and some correction should come before resuming further bull trend. In such scenario, investors and traders should keep trailing stop loss or hedge their portfolios with bearish risk-defined strategies". Nifty has been displaying a robust bull momentum, resembling a "bullet train" in recent days. The index has achieved lifetime highs, with Nifty futures trading above 21,000. The spot index reached a high of 20,958.65. Analysts remain positive in several sectors, including petrochemical, IT, FMCG, media, metals, and banking. The momentum shift is expected to benefit investors, and despite the market rally, many small and mid-cap stocks are available at discounted prices. Aggarwal said, "We remain positive on petrochemical, IT, FMCG, Media, Metals, and Banking sectors. Momentum shift will be great &amp; many small, mid-cap stocks are available at good discounts despite the rally on the Index. Investors should stay invested in this golden opportunity. India remains the hot spot for investment and we will continue to see FII's &amp; DII's pouring in money. Larger time frame, Nifty is very bullish. Don't get trapped by looking at Index value. Stay invested". Caution is advised as the RSI on the daily time frame is overbought, suggesting a potential correction before the bull trend resumes. Investors and traders are recommended to consider trailing stop loss or hedging strategies to manage risks in this dynamic market. Looking at a larger time frame, Nifty is perceived as very bullish. Investors are encouraged to remain invested, not being swayed by the index value. India continues to attract significant foreign and domestic investments, making it a hotspot for financial inflows. Despite the ongoing rally, the market presents a golden opportunity, particularly in sectors showing positive momentum. Analysts expect the influx of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) to persist. Investors are reminded to stay vigilant and capitalize on this favourable investment climate. (ANI)

Bulls take charge of D-Street as Nifty hits record highs

<ul><li>In constant currency terms, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword> posted revenue growth of 8.2% YoY for the June quarter. </li><li>The order inflow continued to increase and reached $1.41 billion in this quarter. </li><li>“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD. </li></ul> Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period. In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth. “Our key verticals BFSI (banking, financial services and insurance), Manufacturing &amp; Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director. “Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added. The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3. “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax. At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%. Among the deals won during the quarter are a deal from one of the largest property &amp; casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal. Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

The country's sixth biggest IT services company by revenues, <keyword id="13843427" type="General" weightage="100" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword>, reported a decline in September quarter net profit at Rs 1,162 crore. The city-headquartered company had a net profit of Rs 1,189 crore in the year-ago period, and the same stood at Rs 1,152 crore in the preceding June quarter. Its overall revenues grew 8.2% to Rs 8,905 crore for the reporting quarter, from Rs 8,228 crore in the year-ago period and Rs 8,702 crore in the June quarter. However, there was a sharper contraction in the operating profit margin to 16%, as against 17.5% in the year-ago period, which seems to have been the biggest reason for the decline in the overall profits. The company's managing director and chief executive <keyword id="214484" type="General" weightage="20" keywordseo="Debashis-Chatterjee" source="Orion">Debashis Chatterjee</keyword> said the margins were impacted by the wage hikes given out from July 1, and exuded confidence of gains on the same to exit the fiscal year at 17-18%. He said the company is not witnessing any pressures on margins despite the volatile economic environment at present. Deal pipeline is also flowing, and the company reported new wins of USD 1.3 billion for the reporting quarter, he said, adding that discretionary demand is being replaced with long-term engagements focused on cost optimization. The overall employee base increased to 83,532 at the end of September, which was up from 82,738 in June, but down from 86,936 in the year-ago period. Chatterjee said 1,400 freshers joined in the reporting quarter, and the attrition is stable at 15.2%. The company will be training 10,000 of its employees on artificial intelligence in the December quarter, Chatterjee said, adding that it is already engaged in 20 projects which have generative AI components in it. The company scrip closed 1.11% down at Rs 5,156.90 a piece on the BSE, as against a correction of 0.83% on the benchmark.

LTIMindtree Q2 net profit declines as profit margin contracts

India’s fifth largest IT company enters Nifty50

<keyword id="19995882" type="General" weightage="100" keywordseo="Berkshire-Hathaway" source="keywords" meta.keywordsubtype="org" meta.entityname="Berkshire Hathaway" meta.hostid="261" meta.entityid="Berkshire Hathaway">Berkshire Hathaway</keyword> Inc., the conglomerate led by American Businessman <keyword id="19921921" type="General" weightage="20" keywordseo="Warren-Buffett" source="keywords">Warren Buffett</keyword>, has made history by becoming the first U.S. non-tech company to surpass the USD <keyword id="6852179" type="General" weightage="20" keywordseo="1-trillion" source="Orion">1 trillion</keyword> mark in <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword>. The <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> of Berkshire Hathaway surged by USD 3.96 on the New York Stock Exchange, closing at USD 464.59 per share on Wednesday. With this milestone, Berkshire Hathaway joins an exclusive group of six other companies, primarily from the <keyword id="19896148" type="General" weightage="20" keywordseo="technology-sector" source="keywords">technology sector</keyword>, that have crossed the USD 1 trillion threshold. This list includes Apple, Nvidia, Microsoft, Alphabet (the parent company of Google), Amazon, and Meta Platforms (the parent company of Facebook). The stocks of Berkshire Hathaway have seen significant growth this year, appreciating by more than 28 per cent on the New York Stock Exchange. Despite this achievement, the broader U.S. stock markets faced a downturn on Wednesday. Both the S&amp;P 500 and the Nasdaq indices declined, largely due to profit-taking by investors. This market pressure in the U.S. had a ripple effect across Asian markets, where major indices also faced selling pressure on Thursday morning. In Asia, Japan's Nikkei index fell by 0.45 per cent, while Hong Kong's Hang Seng index declined by 0.55 per cent. Taiwan's Taiwan Weighted Index emerged as the largest loser among the major Asian markets, dropping by 1.32 per cent. In the Indian markets on Wednesday, the Nifty 50 index at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. Rate cut hopes in the US and subsequent buying from foreign portfolio investors supported the market. The sectoral index of IT was trading with a lead of 1.96 per cent with stocks of major <keyword id="20062339" type="General" weightage="20" keywordseo="IT-companies" source="keywords">IT companies</keyword> such as LTIMindtree, Wipro, and Infosys are trading as the biggest gainers in the trade. <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> opened nearly flat on Wednesday with Nifty starting above 25,000 and BSE Sensex opening at 81,800. Over the past few trading sessions, the Nifty was in the tight range despite the positive global cues. "Finally it has broken through to fresh all-time highs. This opens up possibilities for a strong upmove now. Sector-wise, domestic cyclicals will lead the way while IT is coming back in favour of selective name," said Ajay Bagga, Market and Banking expert.

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

Mumbai (Maharashtra) [India], July 11 (ANI): The earnings result season for Q1 (April-June) 2024 has commenced with major companies set to report their performance on Thursday in the Indian <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword>, marking a significant period for investors and analysts. According to the <keyword id="19911480" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="keywords">Bombay Stock Exchange</keyword> (BSE), major <keyword id="20062339" type="General" weightage="20" keywordseo="IT-companies" source="keywords">IT companies</keyword> in the country will report their <keyword id="20164830" type="General" weightage="20" keywordseo="financial-results" source="keywords">financial results</keyword> for the first quarter of 2024 this week. Among the notable names, Tata Consultancy Services (<keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords">TCS</keyword>) is set to announce its first-quarter performance results on Thursday. In its previous earnings announcement, TCS reported a 9 per cent rise in net profit for the fourth quarter of FY24, achieving Rs 12,434 crore compared to Rs 11,392 crore in Q4 of FY23. This substantial growth has heightened expectations for the company's first-quarter performance. Thursday also marks the earnings announcement for Anand Rathi, a financial services firm. The firm's results will be closely monitored by market participants, given its significant influence in the financial sector. The company's performance will provide valuable insights into the broader financial services landscape and help gauge the health of the sector in the current economic environment. Following TCS, other IT giants are scheduled to announce their results in the coming days. HCL Technologies will release its earnings on Friday, July 12th. LtiMindtree is slated to announce its <keyword id="21174432" type="General" weightage="20" keywordseo="Q1-2024" source="keywords">Q1 2024</keyword> results on July 17th. Infosys will reveal its numbers on July 18th, while Wipro is set to report its first-quarter performance on July 19th. Additionally, Tech Mahindra is expected to announce its Q1 results on July 26th. These announcements are highly anticipated as they will provide a comprehensive overview of the financial health and operational performance of these leading companies. The <keyword id="20034955" type="General" weightage="100" keywordseo="earnings-season" source="keywords">earnings season</keyword> is a crucial period for the stock market, offering insights into the performance and future prospects of listed companies. The results announced by these companies will not only influence their stock prices but also set the tone for the market's direction in the near term. Investors and analysts will closely analyze various metrics, including revenue growth, profit margins, and future guidance, to make informed decisions. As the earnings reports start rolling in, market sentiment will be shaped by the performance of the key players.

As earnings season begins, major companies' performance reports to decide market movement in coming days

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> got off to a good start, with Sensex trading at 79,497.63 points,up by 0.32%and Nifty trading at 24,133.70 points, up by 0.37%, as of 10:00 am. As for sectoral indices, Nifty Auto, PSU bank and Realty opened the day in red. All broad-based indices and other sectoral indices opened the day in green. Dr. Reddy, <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword>, <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords">NTPC</keyword>, Tata Motors, and <keyword id="19903245" type="General" weightage="20" keywordseo="Coal-India" source="keywords">Coal India</keyword> took the lead in the early morning trade today, while Grasim, Adani Ports, LTIMindtree, Mahindra and Mahindra, and UltraTech Cement lost ground during the early trade. Earlier this month, the <keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword> directed formal insolvency proceedings against JP Associates. The company notified the <keyword id="6354646" type="General" weightage="20" keywordseo="NSE" source="Orion">NSE</keyword> regarding its list of creditors and the amount provisionally admitted against each of them. Jaypee Group's stock was up by 4.91%, trading at Rs 10.25. <h2>Stock recommendations </h2>As per Mr. Aditya Gaggar, director of Progressive Shares, "under the leadership of IT counters, Indian bourses settled the monthly expiry day at yet another record level of 24,045. The overall trend of Nifty50 is strong but buying on dips will be an ideal strategy. Now, the immediate hurdle is placed at 24,240, while the level of 23,800 will act as strong support". "The <keyword id="19916570" type="General" weightage="20" keywordseo="IT-sector" source="keywords">IT sector</keyword> has convincingly surpassed its previous resistance which indicates a continuation of the current upmove and to validate the momentum, some of the components have given a strong breakout. We continue to hold our bullish stance on the agro/specialty chemicals counters. Mid and smallcaps have been oscillating in a well-maintained range, awaiting a strong breakout", he continued. Sameet Chavan, Head Research, Technical and Derivativess, Angel One notes that the momentum is clearly on the bull's side."June was a remarkable series, with the contract ending with a significant upmove of around 7% amidst an action-packed period. The momentum is clearly on the bulls' side, as prices have climbed more than 2,700 points since the panic low of 21,281 on June 4th". "While contra-bet of shorting is not advised, it is prudent to take some profits, as a price or time-wise correction is expected in the near term. This correction should be viewed as healthy for the ongoing secular bull run. Heavyweights continue to drive this rally, and yesterday we saw the IT sector joining the fray. Traders should focus on such themes, as while key indices may enter a correction phase, individual themes could continue to offer outperforming opportunities," he continued.

Market Morning: Sensex, Nifty open in greens, ONGC, NTPC, Coal India biggest gainers in early morning trade

As the results season kicks in, the <keyword id="20097634" type="General" weightage="20" keywordseo="quarterly-earnings" source="keywords">quarterly earnings</keyword> numbers of several <keyword id="22405488" type="General" weightage="20" keywordseo="blue-chip-firms" source="keywords">blue-chip firms</keyword> — such as <keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> and Reliance Industries — along with <keyword id="20837523" type="General" weightage="20" keywordseo="global-trends" source="keywords">global trends</keyword> and <keyword id="20223116" type="General" weightage="100" keywordseo="trading-activity" source="keywords">trading activity</keyword> of foreign investors, will determine <keyword id="22405487" type="General" weightage="20" keywordseo="equity-market-movement" source="keywords">equity market movement</keyword> in the holiday-shortened week ahead, according to analysts. The domestic <keyword id="22405489" type="General" weightage="20" keywordseo="WPI-inflation-data" source="keywords">WPI inflation data</keyword> for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram. Among major quarterly earnings to be tracked this week are from HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys, and Reliance Industries. "Q1 earnings will be a key focus this week as numerous companies, including heavyweights Infosys, and Reliance, are set to release their results. Additionally, <keyword id="22194639" type="General" weightage="20" keywordseo="pre-Budget-discussions" source="keywords">pre-Budget discussions</keyword> are expected to contribute to market volatility," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. On the global front, a significant focus will be on China. The country is scheduled to announce its GDP and Industrial Production (IIP) numbers, Meena said. "Other global factors to watch include the speech by the US Federal Reserve Chairman, US retail sales figures, and macroeconomic data from Japan," he added. Meanwhile, IT services company HCL Tech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. "On Monday, markets will react to India's inflation data. Key results this week include Jio Financial Services, HDFC Life, Asian Paints, LTIMindtree, Infosys, Wipro, JSW Steel, Paytm, etc. Also globally, investors will take cues from China's GDP numbers, US core retail sales data, and ECB (European Central Bank) interest rate decision," Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services Ltd, said. Retail inflation increased to four-month high of 5.08 per cent in June as food items, including vegetables, became dearer, according to government data released on Friday. Vinod Nair, Head of Research, Geojit Financial Services, said, "We expect stock-specific moves to gain traction due to the ongoing earnings season; indeed, IT will be in the limelight due to the good start to the earnings and outlook." In the week ahead, economic data like China GDP, EuroZone CPI inflation, ECB policy, and the US Fed chair speech will be watched by investors to get cues on market momentum, Nair added. On a weekly basis, the BSE benchmark jumped 522.74 points, or 0.65 per cent, while the Nifty climbed 178.3 points, or 0.73 per cent. The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51. The NSE Nifty surged 186.20 points, or 0.77 per cent, to settle at a record closing high of 24,502.15. Intra-day, it jumped 276.25 points, or 1.13 per cent, to hit a new lifetime peak of 24,592.20.

Trading activity to hinge on Q1 results, global trends in holiday-shortened week: analysts

New Delhi [India], June 10 (ANI): The stock indices closed with a marginal dip after both indices touched an all-time high during Monday's session. The <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> touched a record high of 77,079 and the <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> reached 23,411 points. The Nifty 50 concluded with a decline of 0.13 percent at 23,259 and the Sensex declined 0.27 per cent at 76,490. On Monday, Dalal Street began trading with record highs, primarily driven by banking stocks and Reliance Industries. The Sensex touched a record high of 77,079. According to analysts, the market was watching the global factors today. Selloffs in Europe impacted the global market on Monday, driven by France's decision to call a snap election, affecting the euro, banking stocks, and government bonds, said Varun Aggarwal, MD, Profit Idea. Eurozone bank stocks dropped by 2 per percent's 10-year government bond yield rose by 8 basis points to 3.19 per cent. Italian borrowing costs also increased. In Nifty 50 the top gainers were Reliance Industries, Bharti Airtel, ICICI Bank, SBI, L&amp;T, AdEnterprises, Axis Bank, Sun Pharmaceuticals, Tata Motors, NTPC and Bajaj Motors among others. On Monday, most <keyword id="88972" type="General" weightage="20" keywordseo="IT-stocks" source="Orion">IT stocks</keyword> suffered. The top losers in the Nifty remain Infosys, Bajaj Finance, Mahindra &amp; Mahindra, Wipro, LTIMindtree, and Tech Mahindra. The <keyword id="19925636" type="General" weightage="100" keywordseo="stock-market" source="keywords">stock market</keyword> saw gold prices propping up due to decreased demand, with prices falling by 345 to Rs 71,008 per gram in future trading as speculations reduced their positions. "Among Sectors, Reality, and Media indices rallied over 1 percent whereas IT index was the top loser, shedding 1.84 percent. Technically, after a positive opening entire day the market hovered between 23230 to 23400/76400-77000. Intraday range bound activity and small bearish candle on daily charts after a strong rally indicates indecisiveness between the bulls and bears," opined Shrikant Chouhan, Head Equity Research, Kotak Securities. On the Multi Commodity Exchange, gold contracts for August delivery saw a decline of Rs 345 or 0.48 per cent at Rs 71,008 per 10 grams, with a business turnover of 15,759 lots. Analysts linked the decrease in gold prices to weak global signals. Internationally, gold was down by 0.47 per cent at USD 2,314 per ounce in New York.

Indian stock market closes in red after touching all-time high; Most IT stocks suffer

Mumbai (Maharashtra) [India], February 26 (ANI): The stock market commenced trading on a negative note today, with both the Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> opening in the red. The Sensex dipped 152.66 points, starting the day at 72,990.14, while the Nifty was down 51.55 points, opening at 22,161.15. Market sentiment remained subdued as 16 Nifty companies advanced while 34 declined. Leading the gainers on the Nifty were Power Grid, Cipla, <keyword id="20645080" type="General" weightage="20" keywordseo="dr-reddy" source="keywords">Dr Reddy</keyword>, <keyword id="20728770" type="General" weightage="20" keywordseo="adenterprises" source="keywords">AdEnterprises</keyword>, and LT, while Asian Paints, Titan, HDFC Life, LTIMindtree, and Tech Mahindra emerged as the top losers. <keyword id="19978188" type="General" weightage="20" keywordseo="varun-aggarwal" source="keywords">Varun Aggarwal</keyword>, founder and managing director, Profit Idea, said, "Despite the negative opening, the Nifty 50's near-term uptrend remains intact, with analysts foreseeing a minor dip in the upcoming week, potentially presenting a buy-on-dips opportunity. Immediate support for the Nifty is anticipated at 22,040 levels. Options data indicates significant call open interest at 22,300 and 22,500 strikes, with notable put open interest at 22,200 and 22,000 strikes". Turning to global markets, the US stock market saw a mixed session on Friday, with the Nasdaq Composite and S&amp;P 500 experiencing slight declines while the Dow Jones Industrial Average edged higher. The US Dollar Index traded marginally up at 103.97. Meanwhile, West Texas Intermediate (WTI) and Brent crude prices witnessed marginal declines, trading at <keyword id="19944038" type="General" weightage="20" keywordseo="usd" source="keywords">USD</keyword> 76.32 and USD 81.48, respectively. In Asia-Pacific trading, markets displayed mixed performance, with the Asia Dow up by 0.25 per cent, Nikkei 225 in the green by 0.39 per cent, Hang Seng index down by 0.10 per cent, and Shanghai Composite up by 0.55 per cent. Providing insight into investor activity, foreign institutional investors purchased shares worth a net Rs 1,276.1 crore, while domestic institutional investors bought shares worth a net Rs 176.7 crore on February 23, 2023, according to NSE data. As the trading day progresses, market participants will closely monitor developments, both domestically and globally, for cues on market direction and investor sentiment. (ANI)

Stocks dive at opening bell: Sensex-Nifty start trading day in red territory

<ul><li>TCS gained over 2% in early morning trade on Thursday as analysts expressed satisfaction with the cost efficiencies it has delivered in Q1. </li><li>Infosys, LTIMindtree and even Wipro, which will announce its earnings later in the day, are trading in the green. </li><li>HCL Tech Q1 earnings were below estimates due to underperformance in telecom, tech and engineering R&amp;D verticals. </li></ul>Almost all the top tier IT stocks were trading in the green in Thursday early morning trade after TCS’s first quarter performance met analyst expectations. The IT bellwether reported a flat growth in constant currency revenues when compared to the previous quarter (Q4FY23). India’s largest IT company said that there is softness in the IT market due to macroeconomic conditions, but does not see any large scale cancellations. The commentary seems to be comforting the markets, as even Infosys, LTIMindtree and even Wipro which is expected to announce its earnings today, was trading in the green along with TCS which gained by 2.5% in the morning trade. “We continue to expect TCS to deliver superior growth in the near term among our Tier 1 coverage on account of its leadership in cost efficiency projects, which has resulted in strong inflows over the last two quarters. We factor in a USD revenue CAGR of 10.7% over FY23-25,” said an early morning update by Motilal Oswal. Motilal Oswal also says that the company has been able to deliver on cost efficiency, which resulted in strong inflows for the last two quarters. “We expect the trend to continue, providing better visibility for FY25 revenue growth despite an uncertain demand,” it adds. The BSE IT index went up by 1.9% in morning trade, as of 10:12 am. Morning gains in IT stocks <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in morning trade </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTIMindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.24% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE HCL Tech trades flat on account of disappointing results HCL Tech is the only outlier whose stock traded flat after it reported a 1.3% drop in constant currency revenues for the quarter, sequentially. This is due to continued ramp-downs in telecom and technology verticals, mainly in engineering R&amp;D which saw 5.2% decline sequentially in constant currency terms. The company however maintained its revenue guidance for the financial year, at 6-8% YoY in growth in constant currency revenues. “It (the management) is confident about the guidance in anticipation of fast scale-up of large deals in IT services and a rebound in ER&amp;D business in Q2. But we see elevated risk to HCLT’s growth guidance on account of the steep ask rate over the next three quarters, and hence our estimates are 30bp below (at 5.7% YoY CC) the lower end of the management’s guidance band,” said Motilal Oswal.

Tech stocks zoom despite tough times ahead as TCS meets street estimates

<ul><li><keyword id="5093" type="General" weightage="100" keywordseo="green-carpet" source="Orion">Green Carpet</keyword> helps organizations capture, monitor, analyze and reduce carbon emissions from business travel. </li><li>Air travel is a significant source of global emissions and is predicted to account for 12-27% of global emissions by 2050. </li><li>SEBI mandated the top 1,000 listed companies by market capitalization, to make filings as per the BRSR, an ESG regulatory disclosure framework, from FY23. </li></ul><keyword id="87184" type="General" weightage="80" keywordseo="thomas-cook" source="Orion">Thomas Cook</keyword> (<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>), a travel services company and its group company SOTC Travel partnered with LTIMindtree, to launch ‘Green Carpet’ – a global platform to monitor and manage business travel emissions. A SaaS-based platform, ‘Green Carpet’ is designed to address specific concerns faced by organizations, helping them capture, monitor, analyze and reduce their carbon emissions from business travel. It also helps them significantly reduce their Environmental, Social &amp; Governance (ESG) reporting costs. Green Carpet enables simplified data capture and analysis of travel emissions with real-time dashboards and adherence to Business Responsibility and Sustainability Reporting (BRSR) and enables adherence to global audit requirements. It has a swift and easy integration with current business travel platforms of corporates, advanced AI &amp; ML to provide analytics and recommendations, and decision making to drive enterprise net zero goals. Says Madhavan Menon, CMD of Thomas Cook (India), “Under its G20 Presidency, India has set ambitious ESG goals, and India Inc. has been called on to implement SEBI’s BRSR mandate starting FY23. At Thomas Cook &amp; SOTC, our leadership in the travel sector formed the basis of our partnership with LTIMindtree — a leading technology solutions provider. Green Carpet leverages the global expertise of Fairfax Digital Services to collectively empower enterprises with the ability to seamlessly monitor and manage business travel emissions and drive their net zero goals.” Global warming and its resultant impact on the environment and mankind forced countries globally to take concrete measures to curb the damage. India is at the forefront of this movement. Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> stressed on '<keyword id="399052" type="General" weightage="50" keywordseo="green-growth" source="Orion">Green Growth</keyword>' and clean energy transition in her budget speech delivered in the Parliament on February 1, 2023. Also, SEBI has mandated the top 1,000 listed companies in India by market capitalization to make filings as per the BRSR from FY23. According to the World Resources Institute, air travel is a significant source of global emissions and is predicted to account for 12-27% of global emissions by 2050. Air travel emissions are increasing 70% faster than initially expected by the Intergovernmental Panel on Climate Change (IPCC). It is estimated that business travel represents about 15-20% of global travel. Organizations are hence looking to reduce their business travel carbon footprint. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/co-infection-with-superbug-spikes-covid-virus-replication-by-15-fold/articleshow/98866674.cms">Co-infection with 'superbug' spikes Covid virus replication by 15-fold</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/moodys-downgrades-outlook-for-ubs-to-negative-after-credit-suisse-take-over/articleshow/98866992.cms">Moody's downgrades outlook for UBS to negative, after Credit Suisse take over</a>

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