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<ul><li>Amid positive trends in global markets, <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> opened with gains on Monday.</li><li>This comes after the Indian markets lost over 4% in the last week.</li><li>The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> opened at 25,084.10 points, surging by 69.50 points, while the <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> opened at 81,852.01, with a gain of 163.56 points.</li></ul>On Monday, the Indian stock market got off to a great start, following the positive trend in markets around the world. Last week, the Indian market had a bad week, losing more than 4%. The Nifty 50 index started strong, reaching 25,084.10 points. This was a gain of 69.50 points, which is a 0.28% increase. The BSE Sensex also had a good start, opening at 81,852.01 points. This was a gain of 163.56 points, or 0.20%. Market experts think that the Indian market will likely continue to do well this week. But there are a few things that could make the market less certain, like geopolitical tensions and the start of the earnings season. "We are expecting better Indian markets this week, with a contingent condition that the Middle East conflict does not expand further. Earnings start later in the week, and hopefully, markets will have to contend with analysing economic news breaks rather than the burgeoning geopolitical risk that has become standard fare since the Oct 7th, 2023 attack on innocent civilians" said Ajay Bagga, Banking and Market Expert. Among the sectoral indices, Nifty IT surged more than 1% during opening, with major IT companies, including TCS, set to announce their quarterly results this week. Nifty IT was followed by Nifty Metal in gains, with the latter rising by more than 0.9% at the time of filing this report. In the list of top gainers, <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="261" meta.entityid="ITC">ITC</keyword>, Trent, and <keyword id="19950207" type="General" weightage="20" keywordseo="HCL-Tech" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Tech" meta.hostid="261" meta.entityid="HCL Tech">HCL Tech</keyword> emerged as leaders in Nifty 50, while Titan, Hindustan Unilever, and Britannia were among the top losers. "The near-term uptrend for Nifty 50 has sharply turned down, with support at around 25,000. A potential minor bounce early this week, yet caution against holding long positions due to market volatility. A decisive move below 25,000 could trigger further declines towards 24,500" said Varun Aggarwal, MD, Profit Idea. The other Asian markets also rallied on Monday, Japan's Nikkei 225 index surged more than 1.8% while Hong Kong's Hang Seng up by 1.2%. The markets of South Korea and Taiwan also gained more than 1% at the time of filing this report. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Nifty Sensex breaks five-session losing trend, experts predict positive outlook this week

IT giant <keyword id="19950207" type="General" weightage="100" keywordseo="HCL-Tech" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Tech" meta.hostid="261" meta.entityid="HCL Tech">HCL Tech</keyword> declared its <keyword id="22373996" type="General" weightage="20" keywordseo="Q1FY25" source="keywords">Q1FY25</keyword> results today. The company's revenue for the quarter stood at Rs 28,057 crore, registering a 1.6% quarter-on-quarter (QoQ) decline and a year-on-year (YoY) growth of 6.7%. The company's <keyword id="20387237" type="General" weightage="20" keywordseo="EBIT" source="keywords">EBIT</keyword> (earnings before interest and tax) was Rs 4,795 crore, down 4.4% QoQ but up 7.5% YoY. The company also declared an <keyword id="397990" type="General" weightage="20" keywordseo="interim-dividend" source="Orion">interim dividend</keyword> of Rs 12 per share, making April–June 2024 the 86th consecutive quarter where the company paid out dividends. The company's net income also jumped from Rs 3,534 crore in June 2023 to Rs 4,257 crore in June, 2024. The company's new deals secured during the quarter, or total contract value (TCV), were around $1,960 million. Its employee workforce as of June 30th, 2024, stood at 2,19,401. The company let go of 8,080 employees during the quarter. However, its attrition rate came down to 12.8% during the quarter, down from 16.3% in Q1 FY24. At the close of trade today, HCL Tech's stock was trading at Rs 1,561.75, up by 3.30%. The company's operating cash flows (OCF) for the quarter stood at $2,722 million, while its free cash flows (FCF) were around $2,604 million. Revenues at HCLTech Services saw a dip of 1.9% on a QoQ basis but rose by 5.8% on a YoY basis, in constant currency terms. <h2>Looking ahead</h2>In FY25, the company expects its revenue growth to be in the range of 3-5% on a year-over-year basis, in constant currency terms. Its revenue from services is also set to grow within the same estimates. The company also anticipates its EBIT margins to be between 18 and 19% in FY25. Per its reports, the company's top 20 clients contributed 30.1% of its total revenue. Service revenue from the <keyword id="20049715" type="General" weightage="20" keywordseo="americas" source="keywords">Americas</keyword> saw the maximum jump of 8% on a year-on-year basis, in constant currency terms. As of June 30, 2023, the revenue mix from the Americas was at 64.5%, which grew to 66% this quarter. Opposed to this, the rest of the world's share of the revenue mix dipped by 6.8% as of June 30th, 2023, to 6.1% as of June 30th, 2024. Amidst the company's verticals, the telecommunications, media, publishing &amp; entertainment vertical registered the maximum YoY growth of 69.2%, jumping to 12.2% last quarter from 7.6% as of June 30th, 2023. During the quarter, the company lost 4 clients worth over $20 million and gained 9 clients worth over $5 million. On a year-on-year basis, the company added 14 clients worth $5 million to its base.

HCL Tech Q1 results: Company reports better than expected results, revenue jumps 6.7% YoY

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> opened the day in greens. While Nifty was trading at 24,423.30 points, up by 107 points, up by 0.44%. Sensex was trading at 80,164.68 points, up by 267 points, as of 9:30 am. <keyword id="20740180" type="General" weightage="20" keywordseo="LTI-Mindtree" source="keywords" meta.keywordsubtype="org" meta.entityname="LTI Mindtree" meta.hostid="261" meta.entityid="LTI Mindtree">LTI Mindtree</keyword> took a significant lead of over 2% in early morning trade. <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword>, Tata Steel, BPCL and <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> were top gainers in early morning trade. On the other hand, Power Grid, HDFC Life, Apollo Hospitals, Dr. Reddy and HDFC bank were lagging. <keyword id="19950207" type="General" weightage="20" keywordseo="HCL-Tech" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Tech" meta.hostid="261" meta.entityid="HCL Tech">HCL Tech</keyword> is scheduled to release its Q1FY25 results later during the day. All broad market indices opened the day in green, except for India VIX which was down by 0.48%. Nifty bank, auto, financial services, FMCG, pharma, PSU banks, private bank, healthcare and realty opened the day in red. In early trade, Nifty IT and media took a significant lead of over 1%. Mr. Aditya Gaggar Director of Progressive Shares notes that their view on the index remains the same, i.e. as long as the Index holds a level of 24,200 uptrend will remain intact and on the higher side, 24,460 will be a critical hurdle. "From the energy sector, gas stocks picked up their momentum (Petronet). Sugar stocks from the FMCG sector are gradually strengthening their uptrend (Balrampur Chini and Dalmia Sugar). The direction of the IT sector depends upon how the market participant decodes the Q1FY25 earnings of giant <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="261" meta.entityid="TCS">TCS</keyword>". "From the media segment, we are bullish on <keyword id="22381558" type="General" weightage="20" keywordseo="SunTV" source="keywords">SunTV</keyword>. Considering a strong rally in the Pharma space, we can expect a round of profit booking in the short run but the overall uptrend will remain intact. PSE stocks regained their lost spot as many of them have given a strong breakout from different patterns and we have identified some of them namely Engineers India , GMDC, MRPL, and SJVN", he said. IT giant TCS declared their Q1FY25 results. As Siddhesh Mehta, Research Analyst, SAMCO Securities highlighted, the company beat D-street estimates in terms of results. "The company reported a constant currency revenue growth of 4.4% in Q1FY25, up from 2.2% in Q4FY24. Despite the overall macroeconomic environment continuing to indicate uncertainty, with profits declining by 3.18% QoQ, all major markets displayed sequential growth. While revenue growth for India's largest IT services companies in Q1FY25 remains strong, profit and margin pressures persist", he continued. TCS opened the day in green, trading at Rs 4,018.8, up by 2.42%.

Stock market 12 July: Sensex inches up over 80k, LTI Mindtree, Tata Steel, BPCL take early lead

<ul><li><keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened in the green and climbed in early trade.</li><li>The increase was reported amid buying in IT and <keyword id="20193591" type="General" weightage="20" keywordseo="bank-stocks" source="keywords">bank stocks</keyword>.</li><li>Tata Steel, Power Grid, Axis Bank, JSW Steel, Reliance and NTPC were the laggards.</li></ul>Equity benchmark indices rallied in early trade on Tuesday amid buying in IT and bank stocks along with a sharp cut in Brent crude oil prices. The BSE Sensex climbed 327.39 points to 82,300.44 in early trade. The NSE Nifty went up by 84.1 points to 25,212.05. Asian Paints, Bharti Airtel, Infosys, Mahindra &amp; Mahindra, Titan, Bajaj Finance, <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> and ICICI Bank were among the major gainers. From the blue-chip pack, Tata Steel, Power Grid, Axis Bank, JSW Steel, Reliance and NTPC were the laggards. IT services major HCL Technologies on Monday reported a 10.51% increase in consolidated net profit to ₹4,235 crore in the July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance. Reliance Industries on Monday reported a 5% fall in the July-September quarter net profit as weak oil refining and petrochemical business hurt operational performance. "The sharp cut in Brent crude by 3% is a macro positive for India, but CPI inflation for September coming worse-than-expected at 5.49% is a concern...," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49% in September, according to government data released on Monday. Global oil benchmark Brent crude dropped 2.98% to $75.15 a barrel. In <keyword id="20155107" type="General" weightage="20" keywordseo="Asian-markets" source="keywords">Asian markets</keyword>, Seoul and Tokyo were quoting in the positive territory while Shanghai and Hong Kong traded lower. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,731.59 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth ₹2,278.09 crore. "Even though FIIs continue to sell, the intensity of their selling has come down reducing the pressure on largecaps," Vijayakumar added. The BSE benchmark Sensex jumped 591.69 points or 0.73% to settle at 81,973.05 on Monday. The Nifty climbed 163.70 points or 0.66% to 25,127.95. "The Nifty continues to show resilience, with bullish momentum supported by positive global market trends and strong Q2 earnings from HCL Tech," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-ipad-mini-with-a17-pro-chip-launched-starting-at-49900/articleshow/114259209.cms">Apple iPad mini with A17 Pro chip launched starting at ₹49,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-record-4-growth-in-q3-2024-samsung-leads-the-market/articleshow/114241402.cms">Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a>

Sensex, Nifty climb in early trade on buying in IT, bank stocks

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is planning a <keyword id="22964001" type="General" weightage="100" keywordseo="repairability-index" source="keywords">repairability index</keyword> for <keyword id="20016418" type="General" weightage="20" keywordseo="mobile-phones" source="keywords">mobile phones</keyword> and electronic products to address the growing <keyword id="19932462" type="General" weightage="20" keywordseo="e-waste" source="keywords">e-waste</keyword> problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The <keyword id="20026051" type="General" weightage="20" keywordseo="Consumer-Affairs-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Consumer Affairs Ministry" meta.hostid="261" meta.entityid="Consumer Affairs Ministry">Consumer Affairs Ministry</keyword> is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a consensus among industry stakeholders on "key parameters for accessing and evaluating repairability index" besides promoting longevity in product design, and democratizing repair information to enhance consumer experiences in reusing the mobile and <keyword id="19896834" type="General" weightage="20" keywordseo="electronics" source="keywords">electronics</keyword> products they own. Additional Secretary Bharat Khera emphasized the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers. Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices. He also mentioned that the Repairability Index of France rates products on five criteria, while the EU has additional parameters. <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> Founder Ajai Chowdhry called for legislation to drive change. "Today, most products are not repairable. We need to design products which can be repaired.... Unless we create a law, things will not change," he said. The government has already launched a <keyword id="22964002" type="General" weightage="20" keywordseo="Right-to-Repair-Portal" source="keywords">Right to Repair Portal</keyword>, with 63 companies onboard, including 23 from the mobile and electronics sector. India is the third largest electronic waste producer globally after China and the US. The initiative aims to reduce e-waste, promote <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword>, and create opportunities for third-party repairers in India's growing electronics market.

India plans repairability index for mobile, electronics to tackle e-waste

<ul><li><keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword> reported a revenue drop in Q2, while <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="28126" type="General" weightage="80" keywordseo="hcl" source="Orion">HCL</keyword> cut FY24 revenue guidance.</li><li>Brokerages made only minor tweaks to their estimates and most of them maintained their ratings.</li><li>Large deal wins, improving margins and better utilization rates is giving brokerages confidence in the sector. </li></ul>The Indian IT sector has kicked off the <keyword id="56260" type="General" weightage="20" keywordseo="q2-earnings" source="Orion">Q2 earnings</keyword> season on a somber note. The Big 3 tech companies – TCS, Infosys and <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> painted a gloomy picture of the outlook ahead. With project rampdowns, revenue leakages and cautious clients — they have re-calibrated the revenue earnings for the entire year. TCS reported its first ever drop in constant currency revenues in four years. Infosys and HCL trimmed their revenue guidance for FY24, while TCS does not give guidance. Infosys now expects its constant currency revenues to grow anywhere between 1-2.5% and HCL expects the same to grow by 5-6% for FY24. Mega deal wins offer comfort: Brokerages As expected, the IT sector stocks have fallen in the last two days, yet brokerages have only done minor tweaks to their earnings estimates and maintained their buy or add ratings. Their mega deal wins, large order books; and confidence that they will hit the upper end of their guidance is providing them cushion, they say. Few have changed their ratings on the IT stocks. “From a long-term perspective, we believe TCS has built a resilient business model by securing multiple long-term contracts with the world’s leading brands. It has also established robust capabilities that will enable it to gain market share moving ahead,” said <keyword id="6407277" type="General" weightage="50" keywordseo="axis-securities" source="Orion">Axis Securities</keyword>. The ₹17,000 crore buyback TCS announced at a share price that’s premium to current its price also offers mid-term levers ahead. Kotak Institutional Equities (KIE) also said that Infosys has won a fair share of large deals to provide some visibility for FY25 growth. It cut its FY24-26 revenue estimates by 1-2% while maintaining a buy rating. Even for HCL Tech, KIE marginally tweaked its FY24-26 revenue estimates by 0.3-0.8%. With regards to the bad news delivered in Q2, little of it has come as a surprise. The street has been pricing in possible recession in the US and slowdown in Europe for over a year now. The IT sector gained very little or nothing from the recent bull run seen in the broader markets. In the last month, all of Nifty’s IT index constituents lost value with the exception of LTTS. Coforge, Tech Mahindra and HCL Tech shed over 4% of their values. The Nifty IT Index itself shed around 3%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" 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;">IT stock </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;">30 day change </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;">-4.57 </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;">-1.07 </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;">L&amp;T Technology Services </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;">1.74 </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;">TechM </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;">-5.31 </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;">LTI Mindtree </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;">-6.37 </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;">Persistent </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;">-1.17 </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;">Coforge </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;">-6.64 </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;">-4.11 </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;">Infy </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;">-2.37 </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;">Mphasis </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;">-0.50 </td></tr></tbody><tbody></tbody></table>Source: NSE Margins present a pretty picture In times of macro-economic headwinds, IT companies are working to improve their margins. Not only have their headcount additions waned, they are pushing for higher utilization levels, lowering subcontracting expenses and also cutting down their discretionary spends much like their clients. TCS’ earnings before interest and tax (EBIT) margins went up quarter-on-quarter by 110 basis points to 24.3%. “We believe continued supply side tailwinds should help TCS protect and expand margins despite lower growth/mega deal ramp ups in the second half,” said a report by IIFL. HCL Tech and Infosys maintained their operating margin guidance for the year, in spite of revenue cuts – indicating that they intend to keep up their productivity levels. HCL expects its FY24 margins at 18-19%, Infosys’ expects its annual margins to be anywhere between 20-22%. Brokerages also back their confidence. “The 40 basis point margin (EBIT) improvement during the quarter was encouraging and indicated Infosys’ ability to manage its workforce despite the lack of an operating leverage opportunity. We now expect FY24 EBIT to go up 30bp YoY,” said a report by Motilal Oswal. Also, all three reported reduction of attrition to around 14% recording a dramatic slip sequentially. That too offers a cushion ahead that their people costs will be under control, unlike last year. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

Brokerages not rattled by big 3 IT players' tepid Q2 performance

<ul><li>TCS and HCL Tech said that they have over a 100 <keyword id="17930214" type="General" weightage="20" keywordseo="genai" source="Orion">genAI</keyword> opportunities in the pipeline.</li><li>They also won a few projects, most of which are in the proof-of-concept or pilot stages.</li><li>Tech companies said they built large-scale genAI capabilities, and are ready to take on projects. </li></ul>Less than a year after ChatGPT was launched, Indian tech majors have started bagging generative AI projects. Even in times when demand is slow, discretionary spends are elusive, the new-age technology is bringing work as well as excitement into the IT outsourcing market. Although the size of the deals is small at the moment, genAI has ‘captured the imagination’ of clients, say top executives of Indian IT companies. TCS and HCL Tech said that most of their <keyword id="19151325" type="General" weightage="20" keywordseo="genai-projects" source="Orion">genAI projects</keyword> are proof-of-concept or pilot stages. “Deal sizes are small and are mostly under $1 million where clients are trying them out. But there is potential to convert a part of our Jaguar Land Rover with AI and ML capabilities,” said N Ganapathy Subramaniam, COO of TCS at the company’s Q2 earnings press conference. HCL Tech’s MD C Vijayakumar too shared that most of the genAI deals they are bagging are either half a million or sub-$1 million deals. But they are currently working on a hundred such opportunities. “We have been selected as a partner by this very large software major for their product testing and sustenance efforts. We are providing GenAI on a private language model to improve resolution rate and speed efficiency,” said Vijayakumar. Infosys CEO Salil Parekh also shared that they are working on some proprietary large language models (LLMs). “AI is a part of almost every deal we do. And, GenAI is getting there. As it expands and more and larger enterprises get into it, it will be very exciting,” he added. A catalog of AI opportunities A few months back, all tech majors announced big moves in the generative AI space. Wipro announced that it will spend as much as $1 billion over three years to build capabilities. TCS, HCL Tech partnered with software major NVIDIA to skill their employees. As of September end, TCS said that they have 100,000-strong GenAI-ready workforce. They said they also have as many as 250 Gen AI opportunities in the pipeline. “When we started generative AI, they were all about knowledge discovery. As clients understand more, the genAI is getting more complicated. We are now working for a co-pilot for a financial advisor on what advice to give clients, help underwriting policies,” explaining K Krithivasan, CEO of TCS. TCS said that it has identified opportunities across various verticals, identified use cases and cataloged them per vertical. With that it says that it’s planning to go and engage with clients and have conversations on the same. “With this, we can have conversations with our clients – be in CRM or payments space and wealth advisory and other use cases,” explained Ganapathy. HCL Tech too is working on use cases related to banking and financial sector. “We signed a generative AI deal with a to improve their risk and compliance efforts – which is a very big effort in financial services. There are a lot of transactions happening on this front, and we have discussed how we can help,” said Vijayakumar. The buzz for cost optimization and automation deals has gone up in the last few months. Clients are looking to ramp down their expenses and intend to use tech to help with their overall cost reduction efforts. As automation gains ground, AI and ML will find more use cases – and most tech companies are confident that a little of it can spill into the new and emerging area of GenAI as well.

Beyond just chats: Indian tech majors start bagging deals in GenAI space

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

<ul><li>Slowdown concerns and cost-reduction mandates of clients figured in the commentary of Indian IT companies in Q2.</li><li>While India’s <keyword id="1124566" type="General" weightage="20" keywordseo="top-it-companies" source="Orion">top IT companies</keyword> have shown an improvement in operating margins, analysts suggest two companies are the best placed to survive a slowdown.</li><li>Hiring slowdown, attrition rates and deal pipelines will be the key metrics to watch out for, according to analysts.</li></ul>The rate hike cycle unleashed by the central banks across the world has exacerbated the risks of a global recession. This has been a cause of concern for most India’s IT services majors too as they derive most of their business from North America and Europe. Analysts have red-flagged a potential slowdown in their revenues for a while now, even as they battle rising wage costs back home. Even though many Indian IT companies reported an improvement in operating margins during the September quarter, management commentary also focused on slowdown concerns. According to a report by Kotak Institutional Equities, two companies are best placed to navigate the risk of a slowdown in the US and Europe – the biggest markets of Indian IT majors. “Infosys will lead growth and gain share even in a slowdown given improved cost take-out capabilities. <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> has delivered robust growth trends in the services business and improved margins,” the report said. For context, <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> <a href="https://www.businessinsider.in/business/corporates/news/infosys-reports-4-revenue-growth-in-constant-currency-announces-9300-crore-worth-buyback-of-shares/articleshow/94838572.cms">reported</a> $2.7 billion worth large deal wins in Q2 – its best performance in the past seven quarters. On the other hand, HCL Tech <a href="https://www.businessinsider.in/business/corporates/news/hcl-techs-net-profit-rises-6-3-sequentially-increases-fy23-revenue-guidance/articleshow/94813269.cms">bagged</a> a mega deal worth $625 million. Both Infosys and HCL Tech also reported stronger than expected operating margins during the quarter, making them the top performers amongst the top four IT companies. “Despite higher probability of recession in key European countries and an energy crisis, revenue growth in Europe on a constant currency basis continues to be strong,” the report said about the IT sector’s Q2 performance. Operating margins came under pressure in Q1 due to wage hikes, higher subcontracting expenses and cost of backfilling attrition. In the second quarter, it improved in the range of 15-150 basis points for Tier 1 companies. “Healthy margin expansion from bottoms of Q1 FY23 will help assuage investor concerns,” the report said, while noting that further room to improve margins is available, and that it will happen over the next few quarters. <cmsannotation type="cmsannotation" annotationid="Slowdown baked in stock prices – recession, not quite" comment="subhead" text="Slowdown baked in stock prices – recession, not quite">Slowdown baked in stock prices – recession, not quite</cmsannotation> The broader Nifty IT index has seen a correction of 25.6% in 2022 so far. Except Wipro, top IT companies like TCS, Infosys, and HCL Tech have managed to perform better than the Nifty IT index in this period. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD change </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.60% </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-14.80% </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.80% </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20.50% </td></tr><tr><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-45.50% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, as on November 1, 2022, 1:30 p.m. “The second half of FY23 will be impacted by furloughs and seasonal weakness unlike the past couple of years. Stocks have baked in a slowdown, though not a recessionary environment,” the report stated. <cmsannotation type="cmsannotation" annotationid="Cautious optimism" comment="subhead" text="Cautious optimism">Cautious optimism</cmsannotation> “Our view is we are ready in this macro-environment for all types of client work. Whether it focuses on digital and growth, or costs,” said Salil Parekh, CEO and MD of Infosys during the<a href="https://www.businessinsider.in/business/corporates/news/infosys-reports-4-revenue-growth-in-constant-currency-announces-9300-crore-worth-buyback-of-shares/articleshow/94838572.cms"> September quarter results</a>, while noting that there are indeed demand concerns in the otherwise resilient telecom sector as well. Despite these concerns, Parekh sounded cautiously optimistic, with Infosys revising its revenue guidance to 15-16% for FY23, up from 13-15% given at the beginning of this financial year. HCL Tech, too, managed to<a href="https://www.businessinsider.in/business/corporates/news/hcl-techs-net-profit-rises-6-3-sequentially-increases-fy23-revenue-guidance/articleshow/94813269.cms"> deliver</a> stronger than<a href="https://www.businessinsider.in/stock-market/news/wipro-is-the-top-loser-on-the-exchanges-while-hcl-tech-is-the-top-gainer/articleshow/94827205.cms"> expected results</a> thanks to higher realizations. This, along with the deal wins in the first half of FY23 gave the company the confidence to raise its revenue guidance for FY23 by 50-150 basis points to 13.5-14.5% in constant currency terms. The report underlines that mega deal activity is muted, with only HCL Tech reporting a single mega deal of $625 million. “We expect significant large cost take-out deals to fructify in H2 FY23 and FY24. Such deals can cushion the impact of slowdown in global IT spending in FY24,” the report said. <cmsannotation type="cmsannotation" annotationid="Key metrics to watch out for – hiring slowdown, attrition rate and deal pipeline" comment="subhead" text="Key metrics to watch out for – hiring slowdown, attrition rate and deal pipeline">Key metrics to watch out for – hiring slowdown, attrition rate and deal pipeline</cmsannotation> Hiring slowdown, deal pipeline and attrition rate are amongst the key metrics to watch out for, according to the report. Overall,<a href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms"> IT majors have cut down hiring by 57% in Q2</a>, with Wipro reporting the most significant cut at 95%, followed by industry leader TCS at 58%. Attrition rates, too, have remained elevated, with Infosys reporting the worst rates at 27.1%, followed by HCL Tech at 23.8%. The report also notes that while the deal pipeline remains robust for all companies, deal closures have been impacted in some cases due to delays in decision-making. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-opens-above-61000-while-nifty50-climbs-over-18100-mark/articleshow/95220907.cms">Sensex opens above 61,000 while Nifty50 climbs over 18,100 mark</a> <a href="https://www.businessinsider.in/finance/news/gst-collections-touch-151718-cr-in-oct-second-highest-since-april/articleshow/95225501.cms">GST collections touch ₹1,51,718 cr in Oct, second highest since April</a> <a href="https://www.businessinsider.in/thelife/personalities/news/jamshed-j-irani-steel-man-of-india-who-advised-governments-and-instituted-a-cricket-trophy/slidelist/95223867.cms">Jamshed J Irani – Steel Man of India who advised governments and instituted a cricket trophy</a>

Amid risks of a slowdown, these IT companies are best placed to survive the storm

<ul><li>Benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade on Thursday despite mixed cues in global markets. </li><li>The gains in morning trade were led by banking and metal stocks, while FMCG and IT stocks were flat. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 0.25% or 44 points early in the morning today. </li></ul>Benchmark indices Sensex and Nifty50 edged up in morning trade on Thursday despite mixed cues in global markets. The gains in morning trade were led by banking and metal stocks, while FMCG and IT stocks were flat. While the 30-stock Sensex was up 0.14% or 84 points to 59,651, the 50-stock Nifty50 was up 0.07% or 13 points to 17,631. Adani Ports, L&amp;T and Titan Company were amongst the top gainers. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.60% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.68% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.23% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.05% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan Company </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.20% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.17% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.74% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.68% </td></tr></tbody></table> Source: NSE, as on April 20, 2023 Earlier on Wednesday, markets extended their losing streak for the third consecutive day, with both Sensex and Nifty50 losing over 0.2% due to selling in IT and banking stocks. Gold and crude oil prices continued to simmer down – while gold prices fell 0.32% to ₹60,296 per 10 grams, Brent crude oil price fell 0.81% to $82.45 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Investor sentiments in markets globally were mixed, reflecting in sideways movement in both the US as well as Asian markets. In the US, Dow Jones fell 0.23% while S&amp;P 500 and Nasdaq were flat. Asian markets showed similar trends on Thursday morning, with Nikkei 225 up 0.09% while Hang Seng was flat. Shanghai Composite fell 0.68%, while KOSPI fell 0.39% and Taiwan Weighted was down 0.19%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>: The automaker’s subsidiary Jaguar Land Rover will invest 15 billion pounds over the next five years in electric vehicles. Tata Communications: The company has reported a 10.7% on year decline in consolidated profit at ₹326 crore for March quarter while revenue grew by 7.2% on year to ₹4,569 crore. <keyword id="6355596" type="General" weightage="80" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>: The cement maker has announced it has commissioned 2.2 million tonnes per annum brownfield expansion at its grinding unit at Patliputra, Bihar. With this, the units grinding capacity has increased to 4.7 mtpa. Titan: With rising gold prices, Titan’s jewellery arm Tanishq has planned to reinstate its advanced booking option allowing buyers to lock in the price of the yellow metal ahead of Akshaya Tritiya on April 22. Adani Ports &amp; SEZ: The company’s board will meet on April 22 to consider a partial buyback of its certain debt securities effective this financial year. Earnings today: HCL Technologies, ICICI Prudential Life Insurance, Cyient, Sterling and Wilson Renewable Energy, Reliance Industrial Infrastructure, Oriental Hotels are among companies to release their March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomatos-cost-control-efforts-are-hurting-the-startup-strike-at-blinkit-to-hurt-revenues-by-1/articleshow/99609906.cms">Zomato's cost control efforts are hurting the startup: Strike at Blinkit to hurt revenues by 1%</a> <a href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

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