Commentary Financial News

IT services company Infosys Ltd is expected to post strong sequential revenue growth in the first quarter ended June 2024, driven mainly by ramp up of large deals. The company will announce its results on July 18. Revenues for the first quarter are seen rising 2.5% quarter-on-quarter, according to an average estimate of four brokerages. Meanwhile, the same is likely to jump 2% year-on-year. The constant currency revenue growth is estimated to be up to 3% quarter-on-quarter.

«The other interesting thing which I found in the management commentary is that the AI portion, it has scaled up to 1.5 billion from about 800-900 million, that is quite interesting because that is the way forward,» says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital. We are at least mesmerized by the move in IT. Did you anticipate such a strong reaction to a largely in-line set of numbers from TCS? Sudip Bandyopadhyay: Well, the reaction definitely is beyond expectation, but the numbers have been pretty good. It is, of course, the way expectations being built, but it is better than that.

Germany had been sailing through the Euro Championships, with only one team more imperious than them — the Spanish. Unfortunately, the draw meant they couldn't meet each other in the final. So a QF meeting had to do. From the morning you could see everyone and everything sporting the German tricolour, kids wearing Die Mannschaft kits. One German friend booked us a table in a restaurant-cum-biergarten where we had a prime view of the huge screen. 'Please get there early!' he had said. And sure enough, he was already there protecting our group's table when I reached. Under the awning of the beautiful gravel courtyard, the other tables behind us quickly filled up. When Germans want to feel good they eat the abominable currywurst. Sure enough, two people at our table order a plate each.

Bitcoin's price has been stuck.

«I remain upbeat and positive about the changes. Yes, at the same time, there are increasingly green shoots visible in the lower end of most consumer products, and this change is coming at the right time, possibly indicating better growth ahead of us,» says Alok Agarwal, Alchemy Capital. What is your take on the commentary from Rajiv about the category breaker this particular CNG bike could become? It is the first of its kind, and clearly, you have to give full marks for that. The stock is higher by 2%. But what does it do to this category, this value category? The 85,000-95,000 per unit value category was ignored by everybody, as all the players were focusing on premiumization. Can it revitalize that space and get volumes back? Alok Agarwal: We have been seeing a K-shaped recovery all through, especially after COVID, and that was reflected in automobiles and two-wheelers as well. But at the same time, one of the most efficient companies is coming forward with CNG bikes. I think it is a welcome step, a welcome move. It is a calculated move as well. They have also showcased how they have changed things in the past. So, I remain upbeat and positive about the changes. Yes, at the same time, there are increasingly green shoots visible in the lower end of most consumer products, and this change is coming at the right time, possibly indicating better growth ahead of us.

Dipan Mehta, Director, Elixir Equities, says the question that everybody on the Street will ask the IT company is how big is this AI opportunity. Is it for real? Is it going to translate into double-digit growth rates for the next four to five years for IT companies? If we get a positive response over there, then IT will take a leadership position. The first few results will immediately set the tone for the entire sector. All the Maruti magic yesterday pilfered through the entire auto pack as well. But how much more of a material gain do you think Maruti can get out of this UP discount registration now for hybrid cars? Dipan Mehta: It is not just the actual material benefit that may or may not take place, but it is a signal to the other states as well that this is something which they can implement to reduce pollution and give encouragement to cleaner vehicles and that has what has driven the sentiment up in Maruti. If other states also follow suit, then certainly Maruti will have a phenomenal edge over its competition, because the best hybrid cars, the most popular ones are the ones which Maruti is producing.

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Viacom18, the official media rights partner for the Paris Olympics 2024 in India, has priced its mobile ad inventory at par with linear TV ad inventory for the multi-sporting event that will kick off on July 26. As per the rate card floated by the media company, it is seeking a spot rate of Rs 1,40,000 per 10 seconds for mobile, similar to the spot rate for both standard and high-definition TV channels. The HD channel's standalone spot rate is Rs 60,000 per 10-second spot, lower than the connected TV (CTV) spot rate of Rs 75,000. The mid-roll and pre-roll ads are priced at Rs 250 per impression.

Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day's high of Rs 4,065 on BSE. Other IT stocks like Coforge, LTIMindtree, Infosys, TCS and LTTS were also trading around 2% higher during the day. As a result, the Nifty IT index was also trading around 2% higher.

Rahul Jain, Vice-President -Research, Dolat Capital, says that Accenture’s improved order book is led by them providing the right solutions which the clients are needing. So, essentially, this is led by their own effort and there is not much of a change in the environment. Probably that’s why despite a very strong order book they did not comment anything beyond the current fiscal in terms of qualitative or quantitative aspect. What does the lowered revenue guidance by Accenture suggest to you about the company and the sector? What is your reading? Rahul Jain: Apart from the results, we also followed the commentary in the earnings call and what they are trying to indicate – the one positive data that came out was from an order book perspective, but management was clear that there is no change in the discretionary demand or overall client sentiment in terms of their spending. But this order book is led by them providing the right solutions which the clients are needing.

cricket match against India; there are plenty of India-Pakistan cricketers in the team.Their captain is Saad Bin Zafar, who has Pakistani origins. The Canadian team also includes some Indian-born cricketers, such as Navneet Dhaliwal, Pargat Singh and Shreyas Movva.

«We want to increase the exposure to consumption sector as such because that was the sector which we were significantly underweight,» says Daljeet Singh Kohli, Vasuki India Fund. What is the say on defence pack? Yes, the order books of these companies were quite solid. The question was on the execution and then the valuations. Would you still buy afresh? No, I do not think for buying fresh, you will have to look for some differentiated ideas. Maybe within the pack if you can find something which is a supplier to somebody or which is doing some particular component, some parts or some kind of services that they are offering, so those kind of niche ideas one can still look at.

Gold rate today: On account of hawkish US Fed on interest rate fueling US dollar rates, gold price today witnessed a sharp fall in the early morning session. Gold futures contract on the Multi Commodity Exchange (MCX) for August 2024 expiry opened with a downside gap at ₹71,475 per 10 gm and touched an intraday low of ₹71,401 within a few minutes of the opening bell.

Gold and silver prices today on 12-06-2024: Check latest rates in your cityInvestors have flocked to the precious metal, driven by expectations of monetary easing, geopolitical tensions in Europe and the Middle East, and significant central bank purchases, particularly by China.Spot gold is currently trading around $2,300 per ounce after reaching a record high of $2,449.89 on May 20, marking a gain of more than 11 per cent so far this year.“Commodities are broadly stuck in a range and trading flat, as we look ahead to the U.S. CPI numbers and the Federal Reserve’s policy meeting outcome later in the day.

Buy or sell stocks for today: Buoyed by the commentary by the dovish RBI and hike in FY25 GDP growth forecast, the Indian stock market ended higher for the third straight session on Friday last week. The Nifty 50 index gained 468 points and closed at 23,290, whereas the BSE Sensex surged 1618 points and ended at 76,693.

Ujjwala scheme, Jal Jeevan mission, Swachh Bharat Abhiyan, and Housing for All initiatives. In Q4, the management of most FMCGs had noted action plans regarding enhancing prospect with distribution expansion." The forecast is in line with the findings of consumer intelligence firm NielsenIQ (NIQ), which reported that rural FMCG demand had outpaced urban markets for the first time in 15 months in the March quarter, although urban shoppers more than made up with increased spending on packaged items.Meanwhile, in their March quarter earnings commentary several large companies maintained a positive outlook on demand for the ongoing fiscal year.

India vs Pakistan Live Score Updates: Rohit Sharma-led Indian cricket team is set to face its arch-rival Babar Azam-led Pakistan in a nail-biting clash at Sunday's ongoing ICC Men's T20 T20 World Cup 2024 match.Both teams will play their second group match of the tournament at the Nassau County International Cricket Stadium in New York from 8 pm (IST onwards).India Vs Pakistan T20 World Cup 2024: Live streaming detailsThe India Vs Pakistan match will be broadcast live at the Star Sports channels and also be live streamed in Disney+Hotstar app from 8 pm (IST onwards). For English commentary, one can watch Star Sports 1 HD and SD channels, while for Hindi commentary, tune into Star Sports 3 HD and SD channels.India Vs Pakistan T20 World Cup 2024: SquadsIndia: Rohit Sharma (c), Hardik Pandya, Yashasvi Jaiswal, Virat Kohli, Suryakumar Yadav, Rishabh Pant, Sanju Samson, Shivam Dube, Ravindra Jadeja, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Arshdeep Singh, Jasprit Bumrah, Mohammed Siraj.Pakistan: Babar Azam (c), Abrar Ahmed, Azam Khan, Fakhar Zaman, Haris Rauf, Iftikhar Ahmed, Imad Wasim, Mohammad Abbas Afridi, Mohammad Amir, Mohammad Rizwan, Naseem Shah, Saim Ayub, Shadab Khan, Shaheen Shah Afridi, Usman KhanIndia Vs Pakistan T20 World Cup 2024: Addressing a press conference ahead of the match on Saturday, Rohit – on being asked about his opinion on New York's pitches – said, "These wickets are challenging, even curator was confused on how they will behave."India Vs Pakistan T20 World Cup 2024: India and Pakistan have played 12 T20I matches against each other.

cricket.Pakistani fans were heartbroken. However, Babar Azam knows that everything will be forgotten if they win against India. However, winning against India is unlikely to be easy.In the last 5 completed matches, India emerged victorious in all of them.

cricket match between two European teams, England's streak of never winning against a European team in Men's T20Is continued.Moreover, the abandoned match makes it more difficult for England to qualify since they are left with only 1 point. Now, Jos Buttler’s team must win against Australia to keep things going. Even though their next matches are against relatively-weaker teams like Namibia and Oman, they need to have their momentum going.Australia, on the other hand, are coming from a win against Oman.

NED vs SA T20 World Cup match on June 9: The term "Achilles heel" refers to someone's main weakness even though they may generally be very strong or capable. South Africa, considered one of the best cricket teams to ever play the game, have lost in their last 2 World Cup encounters with the Netherlands.The Dutch are considered minnows compared with other powerful cricket teams. But they have managed to beat the Proteas twice, and that cannot be a coincidence or a fluke.In November 2022, at the T20 World Cup, the Netherlands made 158/4 in 20 overs.