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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

Stocks of the Mahindra &amp; Mahindra (M&amp;M) group have been under selling pressure and were the top Sensex losers on Thursday. M&amp;M slumped 6.5 per cent after the company announced equity stake buy in RBL Bank. On Wednesday, it made an announcement of acquiring a 3.53 per cent stake in RBL Bank as an investment at a cost of Rs 417 crore. “We may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstance will it exceed 9.9 per cent”, M&amp;M said in a filing. In a communication, RBL Bank said that the holding of M&amp;M Limited as per the last beneficiary position as on July 21 as received from the depository (NSDL) is 3.53 per cent of the total paid up share capital of the bank. “We being a listed company, for trading in the shares of the Bank there is no pre-approval required from the bank except for the fact that as per the Master Direction -- <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023, any shareholder who wishes to acquire 5 per cent or more of the shareholding of the bank is required to make an application to Reserve Bank of India to seek their prior approval for such acquisition. No such application has been received by us till date,” the bank said. <keyword id="43217" type="General" weightage="80" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> was down more than 3 per cent after the IT major’s poor show in Q1 results. Motilal Oswal Financial Services said in a report that Tech Mahindra delivered a weak 1QFY24 performance, with revenue declining 4.2 per cent QoQ in CC to $1.6 billion, missing our estimate of a 2.5 per cent decline. "Due to the sharp dip in revenue, Tech Mahindra also saw a steep fall in profitability, exacerbated by a 200bp one-time impact from bankruptcy of a client. We expect the company’s profitability to improve from 2Q onward, partially through sharp cost control and headcount cuts despite high utilisation," the report said. "While we expect a potential for performance improvement after the leadership refresh in Jun’23, we believe this will take time given the macro headwinds and limited flexibility to invest in growth because of weak current profitability. We remain on the sidelines as we feel the current valuation fairly factors in the uncertainties around growth and margin. We cut our FY24/FY25 EPS estimates by 8-10 per cent on weak margin and muted outlook." Emkay Global Financial Services said Tech Mahindra’s revenue slumped 4 per cent QoQ (4.2 per cent CC) to $1.6 billion, missing our estimates. EBITM declined by 440bps QoQ to 6.8 per cent, well below our estimate even after adjusting for one-offs. Deal wins remain weak, and stand at $359 million (TTM deal-intake down 25 per cent YoY). Tech Mahindra has failed to capitalise on its strength in the areas of communications, ER&amp;D, BPO, XDS, etc, and deliver consistent performance in the past, the note said.

M&M group stocks under pressure after RBL Bank investment, TechM's earnings miss

<ul><li><keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">Market</keyword> benchmarks <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> wilted under selling pressure on Friday after a five-day rally.</li><li>Investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword>.</li><li>The 30-share BSE Sensex tanked 609.28 points or 0.82% to settle at 73,730.16.</li></ul>Market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets. Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said. Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points or 0.82% to settle at 73,730.16. During the day, it lost 722.79 points or 0.97% to 73,616.65. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> declined 150.40 points or 0.67% to 22,419.95. "Domestic equity benchmarks halted their five-day winning streak on Friday, driven by weak global cues. The Nifty opened on a positive note on the first day of the May series but could not sustain at higher levels and closed the day on a negative note at 22,420. The broader market outperformed the benchmarks, with the midcap and smallcap indices registering fresh lifetime highs. Technically, the index has formed a dark cloud cover candlestick pattern on a daily scale," said Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediates. <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords">Bajaj Finance</keyword> was the biggest drag on the Sensex chart, skidding nearly 8% after the company's March quarter earnings failed to cheer investors. Bajaj Finserv also declined over 3%. IndusInd Bank, Nestle, Kotak Mahindra Bank and Mahindra &amp; Mahindra were among the other laggards. Meanwhile, <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="83" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> jumped over 7% after the IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins. Wipro, ITC, UltraTech Cement, Titan and Axis Bank were among the gainers. "The fall was on expected lines as both the benchmark indices had rallied for five straight sessions, and profit-taking has been due for some time. "Correction is also attributed to global factors after the Japanese Yen fell to a new 34-year low and disappointing US data pushed its benchmark yields to over 4.7%, thus worsening hopes of an interest rate cut in the medium term," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. European markets were trading in the green. Wall Street ended lower on Thursday. Global oil benchmark Brent crude climbed 0.31% to USD 89.29 a barrel. The rupee declined 7 paise to close at 83.35 (provisional) against the US dollar on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data. The BSE benchmark climbed 486.50 points or 0.66% to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

Markets snap five-day rally, Sensex tumbles over 600 pts

Shares of <keyword id="19950203" type="General" weightage="100" keywordseo="TCS" source="keywords">TCS</keyword> on Friday climbed over 3 per cent after the country's largest <keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. The stock went up by 3.10 per cent to Rs 4,044.35 on the BSE. At the NSE, it rallied 3 per cent to Rs 4,044.90. The company's <keyword id="20097096" type="General" weightage="20" keywordseo="market-valuation" source="keywords">market valuation</keyword> jumped Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals. The stock emerged as the biggest gainer among the Sensex pack. "The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In the equity market, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> went up by 82.1 points to 24,398.05. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore for the first quarter ended June 2024. Net profit for the year-ago period stood at Rs 11,074 crore. The company - which competes in the IT services market with the likes of Infosys, Wipro and HCLTech - reported 5.4 per cent increase in revenue at Rs 62,613 crore for the quarter just ended. "I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets," K Krithivasan, Chief Executive Officer and Managing Director of TCS, said in a release. TCS has declared an interim dividend of Rs 10 per equity share of Re 1 each. Meanwhile, other IT stocks -- Infosys, Tech Mahindra, HCL Technologies and Wipro -- were also in demand.

TCS shares climb over 3% after earnings announcement; Market valuation jumps Rs 40,360 crore

<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

<keyword id="20270096" type="General" weightage="20" keywordseo="equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> rallied in early trade on Friday amid buying in <keyword id="19963566" type="General" weightage="20" keywordseo="IT-stocks" source="keywords">IT stocks</keyword> after <keyword id="6357150" type="General" weightage="20" keywordseo="TCS" source="Orion">TCS</keyword> announced its June quarter earnings. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 226.11 points to 80,123.45 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="NSE-Nifty" source="keywords">NSE Nifty</keyword> went up by 82.1 points to 24,398.05. Among the Sensex pack, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> climbed over 2 per cent after the country's largest IT services player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. Infosys, Axis Bank, Mahindra &amp; Mahindra, Bajaj Finance, Tech Mahindra and HCL Technologies were the other major gainers. Maruti, Asian Paints, Bharti Airtel and ITC were among the laggards. "The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In Asian markets, Hong Kong quoted higher while Seoul, Tokyo and Shanghai traded lower. US markets ended mostly lower on Thursday. Global oil benchmark Brent crude climbed 0.25 per cent to USD 85.59 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,137.01 crore on Thursday, according to exchange data. Retreating from early highs, the BSE benchmark closed lower by 27.43 points or 0.03 per cent at 79,897.34 on Thursday. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95.

Markets climb in early deals on buying in IT stocks after TCS earnings

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

Mumbai, Equity benchmark indices rebounded on Thursday, with <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> hitting its fresh all-time high and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks. After starting off on a volatile note, the equity market staged a recovery in the second half of the day, especially after 2.30 pm as the 30-share benchmark Sensex soared 535.15 points or 0.74 per cent to close at 73,158.24 points. As many as 22 Sensex constituents closed in the positive territory and the index touched an intra-day high of 73,256.39 points. The broader Nifty climbed 162.40 points or 0.74 per cent to hit its highest ever closing level of 22,217.45 points. During the intra-day trade, the index touched the peak of 22,252.50 points and 25 Nifty constituents ended the session with gains. "The domestic market staged a recovery from the day's low, buoyed by positive PMI data from the Eurozone and an impressive earnings report from US tech stocks. "The broader market showed resilience as India's economic activity continued to expand in February, with both service and manufacturing PMI improving. Consequently, it resulted in outperformance in discretionary stocks and capital goods," <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at Geojit Financial Services, said. BSE Midcap index gained 0.92 per cent, largecap index climbed 0.81 per cent and smallcap index rose 0.54 per cent. In the Sensex pack, HCLTech rose the maximum by 3.12 per cent, followed by ITC which gained 2.73 per cent and M&amp;M went up 2.61 per cent. TCS climbed 2.44 per cent. <keyword id="19924892" type="General" weightage="20" keywordseo="tech-mahindra" source="keywords">Tech Mahindra</keyword>, Wipro, L&amp;T and Maruti were among the other major gainers. However, stocks of all major banks closed in the red with IndusInd Bank falling1.87 per cent. While HDFC Bank dropped 1.28 per cent, Kotak Mahindra Bank declined 1.11 per cent and SBI slipped 0.73 per cent. Among other scrips, Hindustan Unilever, Bharti Airtel and <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords">Bajaj Finance</keyword> ended the day in the negative territory. In Asian markets, Japan's Nikkei 225 surged more than 2 per cent to all-time high to hit its 1989 level. Hang Seng of Hong Kong and China's Shanghai Composite also ended with sharp gains. European stocks were also mostly trading with gains. On Wednesday, US stocks finished mostly higher after minutes of the US Federal Reserve's January meeting showed most policymakers were concerned about the risks of cutting interest rates early. On Wednesday, Sensex and Nifty snapped their six-day winning streak. While Sensex fell 434.31 points to close at 72,623.09 points, Nifty declined 141.90 points to end the day at 22,055.05 points. Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they purchased securities worth Rs 284.66 crore.

Stocks rebound: Sensex jumps over 500 points, Nifty hits fresh high

<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>Sensex gained 689 points while <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> also closed 215 points higher on Wednesday.</li><li>The session saw bargain hunting in metal, commodity and telecom stocks.</li><li>Market sentiment is still muted despite the rebound due to uncertainties and FII selloff. </li></ul>Equity benchmark indices Sensex and Nifty rebounded sharply by 1% on Wednesday after sliding for the past two sessions, propelled by bargain hunting in metal, commodity and telecom stocks. Sensex fell by over 1,000 points and Nifty by 333 points on Tuesday. On Wednesday, Sensex traded through a patchy track in the opening session, and gradually gained ground and jumped 689.76 points, or 0.98%, to settle at 71,060. The broader NSE Nifty also closed 215.15 points or 1.01% higher at 21,453. “After witnessing heavy profit-booking in recent sessions, investors resorted to short covering ahead of F&amp;O expiry on Thursday which helped benchmark Sensex close above the crucial 71k mark. Helping positive sentiments were improving European stock markets on backdrop of negative US Treasury bond yields which were seen weighing on the US Dollar,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research), <keyword id="20318557" type="General" weightage="20" keywordseo="mehta-equities" source="keywords">Mehta Equities</keyword>. Among the Sensex firms, major winners included Tata Steel, rising 3.77%, followed by HCL Tech, which gained 3.62%. IndusInd Bank and PowerGrid closed with a gain of 3.6% and 3.34%, respectively. Other gainers were <keyword id="19924892" type="General" weightage="20" keywordseo="tech-mahindra" source="keywords">Tech Mahindra</keyword>, Hindustan Unilever, Bajaj Finserv and <keyword id="19951944" type="General" weightage="20" keywordseo="bharti-airtel" source="keywords">Bharti Airtel</keyword>, among others. On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94%. A total of 25 stocks of the 30-share benchmark settled in green, while 43 constituents of the NSE Nifty witnessed gains. Meanwhile, Brent crude futures, the global oil benchmark, were trading higher by 0.58% to $80.01 per barrel on Wednesday. 'Sentiment is still muted' The sentiment however is muted, say market experts, as foreign Institutional Investors (FIIs) turned net sellers in the capital markets on Tuesday. They offloaded shares worth ₹3,115.39 crore, according to exchange data. "The market rebounded from yesterday's sell-off taking cues from global peers. The sentiment was reinforced by the PBOC's 0.5% cut in reserve ratio to boost growth and financial liquidity. However, overall sentiment is muted as concerns persist on FIIs selling due to premium valuations in India and below expectation Q3 earnings so far," said Vinod Nair, head of research, Geojit Financial Services. Tapse also added that despite the rebound, one may see sharp gyrations in the market in the near to medium term. This is due to a lot of uncertainty surrounding the West Asia conflict, renewed inflation worries and delay in rate cuts from the US Fed. (With inputs from PTI)

Sensex, Nifty rebound sharply to gain over 1% on bargain hunting

Benchmark indices Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> fell for the third day running on Thursday, dragged by continuous selling in <keyword id="19895995" type="General" weightage="20" keywordseo="hdfc-bank" source="keywords">HDFC Bank</keyword> and profit-taking in consumer durables and utility shares. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> Sensex fell by 313.90 points or 0.44 per cent to settle at 71,186.86. During the day, it tanked 835.26 points or 1.16 per cent to 70,665.50. The Nifty declined 109.70 points or 0.51 per cent to 21,462.25. During the day, it plunged 286.4 points or 1.32 per cent to 21,285.55. The heavy fall in the markets comes on the back of a recent record-breaking rally. The BSE benchmark hit an all-time high of 73,427.59 on Tuesday, and the Nifty also reached its lifetime peak of 22,124.15 the same day. "The benchmark indices exhibited recovery from the day’s low and ended in red amid weak global cues, as investors are trimming bets on rapid FED cuts due to strong US retail sales and the resulting rise in global bond yields. Furthermore, oil price advances and rate escalation risks have led to disruptions in global shipping and crude production. The broader market continued its selling pressure given the elevated valuation and profit booking with an aim for sector rotation," said <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research, Geojit Financial Services. Among the Sensex firms, HDFC Bank, NTPC, Asian Paints, Power Grid, Titan, <keyword id="19901053" type="General" weightage="20" keywordseo="indusind-bank" source="keywords">IndusInd Bank</keyword>, Nestle and Maruti were the major laggards. HDFC Bank fell over 3 per cent, extending its previous days' huge fall, after the company's December quarter earnings failed to impress investors. The private lender alone contributed 305 points to the fall. “While markets suffered losses for the third consecutive session, key indices pared losses in the second half amid recovery in European and select Asian indices. Investors will be more watchful about the ongoing earnings season as any stress on quarterly numbers could dampen the sentiment in the near term. A sharp rise in crude oil prices also cautioned investors to trim their positions in banking, IT and power stocks," said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research), Mehta Equities Ltd. <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, <keyword id="19924892" type="General" weightage="20" keywordseo="tech-mahindra" source="keywords">Tech Mahindra</keyword>, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>, Mahindra &amp; Mahindra, Axis Bank and Larsen &amp; Toubro were among the gainers. In Asian markets, Tokyo settled lower while Seoul, Shanghai and Hong Kong ended in the positive territory. European markets were trading on a mixed note. The US markets ended lower on Wednesday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 10,578.13 crore on Wednesday, according to exchange data. On Wednesday, the BSE benchmark plunged 1,628.01 points, or 2.23 per cent, to settle at 71,500.76. The Nifty tanked 460.35 points or 2.09 per cent to settle at 21,571.95. Global oil benchmark Brent crude climbed 0.50 per cent to USD 78.27 a barrel.

Stock markets fall for 3rd day on profit-taking, HDFC Bank major drag

<ul><li>One of the top five IT services companies, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> reported a 25% decline in net profit for April-June quarter.</li><li>The management attributed the decline in profitability to rising employee benefits costs, which includes promotions and salary hikes.</li><li>However, high spending towards retaining employees by giving hikes and promotions has paid off the firm’s attrition rate, which has come down to 22% from 24% last quarter.</li><li>Tech Mahindra’s attrition is still better than peers Infosys (28.4%) and TCS (23.3%).</li></ul>A fourth of Tech Mahindra’s first quarter revenues were eaten up by employee expenses, pushing its profits down by 25% on a sequential basis. The company’s CEO C P Gurnani says that this wage hike has reduced its attrition by 2% from last quarter, and predicts that it will reduce by another 4% in six months. But when asked for specifics, he said, “Attrition is as hard to predict as death,” at the post-earnings press conference. Its total income grew marginally by around 3% to ₹12,830 crore sequentially. Its constant currency revenue growth stood at 3.5%, the company said in its press release. “We are confident that we will be presenting to you continuously over the next few quarters industry leading growth. We are also confident that we will have an opportunity to work on the profitability levers,” said Gurnani. High spending towards retaining employees by giving hikes and promotions has aided as Tech Mahindra’s attrition rate has come down to 22% from 24% last quarter. If it’s able to keep up with its predictions, in the next two quarters, it could come down to 18%. Tech Mahindra’s attrition is still better than peers Infosys which is at 28.4% and that of TCS at 23.3%. Tech Mahindra’s expenses shot up 30% on year and 7% sequentially in June quarter to ₹8,937 crore and most of it was due to wage hikes, promotions and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Employee benefit expenses </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;">Amount </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;">Q1 FY23 </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;">₹3,286 crore </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;">Q4 FY22 </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;">₹2,945 crore </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;">Q1 FY22 </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;">₹2,601 crore </td></tr></tbody></table> “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23,” Rohit Anand, chief financial officer at Tech Mahindra said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Particulars </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;">Q1 FY23 </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;">Q4 FY22 </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;">Q1 FY22 </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;">Revenue </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;">₹12,830 crore </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;">₹12,436 crore </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;">₹10,484 crore </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;">Net profit </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;">₹1,147 crore </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;">₹1,545 crore </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;">₹1,365 crore </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;">Margin </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;">14.8% </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;">17.2% </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;">18.4% </td></tr></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/policy/economy/news/house-of-cards-goldman-sachs-cuts-msci-china-index-earnings-forecast-to-zero/articleshow/93113216.cms">House of cards: Goldman Sachs cuts MSCI China's earnings forecast to zero</a> <a href="https://www.businessinsider.in/india/news/india-has-the-highest-rate-of-women-taking-action-against-harassment-calls-and-messages/articleshow/93107553.cms">India has the highest rate of women taking action against harassment calls and messages</a> <a href="https://www.businessinsider.in/science/health/news/monkeypox-outbreak-in-india-heres-what-we-know-so-far-about-symptoms-prevention-of-the-infection/articleshow/93111853.cms">Monkeypox outbreak in India: Here’s what we know so far about symptoms, prevention of the infection</a>

You Searched For "tech mahindra earnings" and got 12 results

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

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IANS

Markets snap five-day rally, Sensex tumbles over 600 pts

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TCS shares climb over 3% after earnings announcement; Market valuation jumps Rs 40,360 crore

PTI

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

BI India Bureau

Markets climb in early deals on buying in IT stocks after TCS earnings

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

ANI

Stocks rebound: Sensex jumps over 500 points, Nifty hits fresh high

PTI

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

Katya Naidu

Sensex, Nifty rebound sharply to gain over 1% on bargain hunting

BI India Bureau

Stock markets fall for 3rd day on profit-taking, HDFC Bank major drag

PTI

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

Bhakti Makwana

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