Experts Financial News

Tata Consultancy Services (TCS) jumped over 3% to the day’s high of Rs 3,860.25 on the NSE after the brokerages remained upbeat on IT bellwether following its Q3 results wherein it beat revenue expectations even as the bottomline trailed Street view. Morgan Stanley upgraded the stock to Overweight while raising its price target post the quarterly performance while Motilal Oswal and Nuvama reiterated their buy stance on the counter. Kotak Institutional Equities reiterated an ‘Add’ rating on TCS shares. TCS on Thursday reported higher-than-expected revenue for the quarter ended December 2023, but the bottomline trailed expectations. India’s largest software service provider reported a 2% year-on-year (YoY) growth in consolidated net profit for the quarter to Rs 11,058 crore, and revenue increased by 4% to Rs 60,583 crore. Also Read: TCS Q3 Results: Profit rises 2% YoY to Rs 11,058 crore; revenue up 4% Here is what they recommend!

Bandhan Bank, Bharat Heavy Electricals (BHEL), Delta Corp, Escorts Kubota, Hindustan Copper, Indian Energy Exchange (IEX), The India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox and Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Balrampur Chini and Chambal Fertilizers have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Bandhan Bank stood at 91.4% on Thursday with OI reported by Trendlyne at 101.1 million.

The BSE Sensex was trading 344 points or 0.48% higher at 72,065. Nifty50 was trading at 21,742, up 95 points or 0.44% at around 9.19 am. The Department of Labor's consumer price index (CPI), a key measure of inflation was up 3.4% from a year ago and higher than November's figure. From the Sensex pack, Infosys and TCS were the top gainers, rising 5% and 2.9%, respectively.

Q3 results today: Despite speculations about a global slowdown, Indian companies reported strong quarterly results in the April to June 2023 quarter. The performance improved further in the July to September 2023 quarter after a better-than-expected recovery in the Indian economy. The Indian economy has managed to keep inflation under control throughout the year, which is expected to fuel industrial and other demands in India.

Sensex climbed 63 points to settle at 71,721, while the Nifty gained 28 points to end at 21,647. Stocks that were in focus included names like HCL Tech, which rose 0.02%, SBI Life, which fell 1.48%, and Apollo Hospitals, whose shares jumped 1% on Thursday. Here's what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.

Buy or sell stocks for today: Following strong global market sentiments ahead of the US inflation data release, the Indian stock market finished higher after trading range-bound throughout the Thursday session. The Nifty 50 index added 28 points and closed at the 21,647 level, the BSE Sensex went up 63 points and closed at the 71,721 mark while the Bank Nifty index ended 77 points higher at the 47,438 level.

Newgen Software Technologies: The company has declared a bonus issue in the ratio of 1:1 i.e. 1 new fully paid-up bonus equity share of ₹10 each for every 1 existing fully paid-up equity share of ₹10 each held by the members of the company as on the record date. The record date to ascertain the eligibility of shareholders for the bonus issue has been fixed on January 12.

Infosys Q3 results: Revenue guidance to dip in profit — 6 key highlights from IT major's earnings The nervousness in the market was visible as the Nifty IT Index closed 0.28% lower on Thursday. TCS share price ended at ₹3,736.20 per share, up by 0.61% before the announcement of Q3 results, whereas, Infosys shares ended 1.62% lower at ₹1,495.00 apiece on the BSE. TCS posted a 2% year-on-year (YoY) growth in consolidated net profit, reaching ₹11,058 crore, while revenue saw a 4% increase, totaling ₹60,583 crore.

Question: The Income Tax Department has recently notified the new Income Tax Return forms applicable for Financial Year 2023-24 (Assessment Year 2024-25). Accordingly, kindly highlight the changes made in the new forms vis-à-vis the old forms.

In a measure that could bring relief to promoters of startups, the Securities and Exchange Board of India (Sebi) is in favour of relaxing the rules on the minimum promoters’ contribution at the time of an initial public offering (IPO).

Any further shift among the taxpayers to the concessional personal income tax regime from 60% reported so far will require further tweaks to make it more attractive, government sources said on condition of anonymity. A few options in this regard are under consideration, they said, but hinted that these steps might get deferred beyond the interim Budget on February 1.

NEW DELHI : Antibiotics routinely prescribed to treat common ailments no longer work as bacteria have developed resistance to these drugs due to their overuse in India, a government body said, echoing concerns long voiced by international experts. In a report, the National Centre for Disease Control (NCDC) mentioned about third-generation cephalosporins, imidazoles, amino-glycosides, ceftriaxone, metronidazole, amikacin and piperacillin, which are used to treat cold, fever, skin diseases and urinary tract infection. Companies that make these antibiotics in India include Alkem Laboratories Ltd, Mankind Pharma Ltd, Zuventus Healthcare Ltd, Cadila Pharmaceuticals Ltd, Surya Pharmaceutical Ltd, Aristo Pharmaceuticals Pvt.

SIP registrations hit a record four million during the month, according to data from the Association of Mutual Fund in India (AMFI). It was 2.2 times that of the monthly average for the past five years.

M2M/IoT) registration to all entities across segments will enable standardisation of IoT services as everyone will follow a single standard that will address key issues around know your customer (KYC), security and encryption, say experts. Going forward, artificial intelligence (AI) will also play a crucial role in amplifying capabilities of M2M systems, including prediction of security breaches. Currently, the M2M/IoT industry is operating with several separate standards and with growing types of devices, interoperability is becoming an issue. The telcos, however, are still waiting for the government to define critical M2M/IoT services, which, they say should only be given through licensed spectrum. «With explosive growth from about 2-3 billion devices currently to 25 billion or so, interoperability will become a key issue. Hence, basic discipline and conformance to standards becomes very important and that would be achieved through this measure,» TV Ramachandran, Broadband India Forum (BIF) president, told ET. He added that the government's measures would boost investor confidence.

After a long wait, US markets regulator Securities and Exchange Commission (SEC) finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices.

Revenue Growth Analysis: Infosys reported a 1.3% YoY improvement in its consolidated revenue, reaching ₹38,821 crore in Q3 FY24. On a sequential basis, revenue was down by 0.4%. The revenue in constant currency (CC) terms also declined by 1% YoY.

AU Small Finance Bank and Fincare, which Camotra believes is a healthy sign for the industry. Speaking about Unity Small Finance Bank’s tie-up with a fintech firm, Camotra said, “It’s the best thing for India to have its banking and fintech integrated.

BCG. “There are use cases starting from prospecting of a customer to sales to credit underwriting to then monitoring and the collections part of it," he said. Even less mature banks have AI for underwriting, he added.

In order to manage the emerging risks before the entry into application of the European Markets in Crypto Assets Regulation (MiCA), Lithuania intends to reinforce its national cryptocurrency regulation. We discussed the key points and consequences with legal experts from Gofaizen & Sherle , specializing in fintech law and crypto license in Lithuania and the EU, Vladimiras Kokorevas and Mihhail Sherle.

On the BSE, Polycab India(down 21.08 per cent), M K Proteins(down 19.99 per cent), Gujarat Hy-Spin(down 11.72 per cent), PM Telelinks(down 10.72 per cent) and Ramchandra Leasing(down 10.00 per cent) stood among the top losers in today's trade. In the Nifty pack, 25 stocks closed in the green, while 25 stocks ended in the red.