It Stocks

Infosys Q4 Preview: Profit may weaken sequentially; FY24 guidance eyed

The quantum of deal pipeline, nature of large deals, pace of decision-making and drivers of consolidation trend will also be closely tracked

Financial, IT stocks aid Indian shares snap three-month losing streak

The Nifty 50 index closed 1.63% higher at 17,359.75. The S&P BSE Sensex rose 1.78% to 58,991.52. Both the indexes logged their best day in since Nov. 11

Banking, IT stocks winning bets over 10 years, but rarely move in step

An analysis shows the average return divergence between these two sectors during the past decade has been 37%

Infosys nears 52-week low; stock slips 12% in one month on growth concerns

Following recent developments around bankruptcy of Silvergate, SVB and Signature Bank in the US and UBS-CS merger will likely lead to further curtailing of discretionary tech spends in the near term.

TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigns

The board has nominated K Krithivasan as CEO designate with effect from March 16, 2023.

Wipro hits 52-week low amid revenue growth worries; down 38% in one year

The growth could be a challenge in Q1FY24, too, not just because of the cautious customer behavior but also due to the added issue of productivity concessions kicking in, says Nirmal Bang in a note.

Infosys hits five-month low; stock down 10% in one month

In past two days, the stock was down 4% after the company on Saturday informed to the stock exchanges that Mohit Joshi, President of the company resigned effective from March 11, 2023.

Tech Mahindra surges 9% on appointing Mohit Joshi as MD & CEO

MOFSL believes that this is a positive for Tech Mahindra as it will help the company scale up its BFSI vertical, which has lagged peers in recent years.

Mahindra CIE tanks 9% after block deal of 6.2% equity

At 09:15 AM; around 23.63 million equity shares representing 6.23 per cent of total equity of MCIE changed hands via block deal on the BSE.

US-based Silicon Valley Bank failed: Here's why it's not 2008 again

The bank bought billions of dollars worth of bonds over the past couple of years, using customers' deposits as a typical bank would normally operate

How to approach IT stocks amid tighter monetary policy, recession fears?

According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra

Sonata Software hits new high; stock up 44% since start of the year

Acquisition of Quant Systems will strengthen Sonata offering in BFSI and Healthcare & Life science verticals which will aid the revenue growth of company, say analyst at ICICI Securities.

Sonata Software jumps over 4% on acquiring US-based Quant Systems

The company's North America arm has inked an agreement to buy 100 per cent in Texas-based Quant Systems in an all-cash deal of $65 million.

Cyient hits 52-week high on pact with Thingtrax; stock surges 7% in 3 days

Last month, electronic Manufacturing Services (EMS) firm Cyient DLM, a subsidiary of Cyinet, filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an IPO.

TMS Ep373: IT layoff, millets market, IT stocks, debt refinancing

Why is TCS bucking the trend on IT layoffs? How can millets crack the consumer market? Are IT stocks a good bet even as new hiring tapers? What is debt refinancing? All answers here

IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days

Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50

TCS hits over 7-mth high; rises 4% in three days despite market volatility

Analysts at ICICI Securities expect TCS' margins to improve from FY23 onwards due to utilization improvement and moderation of sub-contractor costs

Tech Mahindra dips 4% as management flags growth moderation, budget cuts

Tech Mahindra is witnessing moderation in growth, slower decision-making for projects, cuts in discretionary spending and shrinking budgets for short-term tactical deals, its management said

Sensex, Nifty advance on gains in IT, financial shares and global cues

Shares of Reliance Industries on Monday ended marginally lower, after the company reported a 15 per cent decline in net profit for the third quarter

Persistent Systems up 5% on strong TCV, in-line revenue growth in Q3

The company said it won several large deals across industries and service lines, driving 20 per cent sequential growth in total contract value (TCV) bookings during the quarter.