STOCK MARKET LIVE: Sensex flat at preopen; Infosys, HDFC Bank in focus

TCS to continue investing in R&D, technology, offices despite ongoing volatility

Country’s largest IT services company TCS A senior official has said that research and innovation will continue to invest in office space and technology infrastructure at the same pace even if it goes through near-term ups and downs.

Sameer Seksaria, the company’s chief financial officer, said that the company’s promise to continue with normal salary hikes will lead to a further decline in operating profit margin of 1.70-1.75% in the June quarter.

He said the company usually spends 1,200-1,500 crore in research and innovation and 3,000-4,000 crore as capital expenditure on back-end technology required to deliver work and office space, and this should continue. ,Read more,

Reliance Securities stock to focus for today: Escorts Kubota

stock in focus

Escorts Kubota (CMP 1,962): Given the large presence in relatively well positioned tractor segment, strong positive cash flows, healthy return ratios and potential further synergies from Kubota, we have assigned Buy rating on the stock with target price. Rs.2,210.

intraday picks

Buy Axis Bank (Previous Close: RS864)

For today’s trade, long positions can be initiated in the range of Rs 857-853 for a target of Rs 874 with a strict stop loss of Rs 842.

Buy POWERGRID (Previously Closed: RS231)

For today’s trade, long positions can be initiated in the range of Rs 229-227 for a target of Rs 235 with a strict stop loss of Rs 225.

Sell ​​Coalindia (Previous Close: RS226)

For today’s trade, short positions can be initiated in the range of Rs 227-229 for a target of Rs 220 with a tight stop loss of Rs 232.

The Sensex fell over 1500 points at the start of the preopen session; Infosys, Reliance, HDFC Bank will be in focus

Q4 results this week: ICICI Bank, Yes Bank, HCL Tech, Tata Comms, and more

The coming week is going to be a busy one with major companies, especially from the banking, IT and financial sectors, set to announce their fourth quarter earnings for FY23.

Key results to watch include ICICI Bank, HCL Tech, yes bank, ICICI Prudential Life InsuranceAnd Tata Communicationsamong others.

With limited key events, market sentiment will be influenced by these fourth quarter earnings reports as well as global trends. Apart from this, the quarterly results of Infosys and HDFC Bank will also affect the equity markets. ,Read more,

Vedanta board approves plan to raise ₹2,100 crore through NCDs

The committee of directors of mining giant Vedanta Ltd has approved a proposal to raise up to 2,100 crore by issuing non-convertible debentures (NCDs).

Vedanta Ltd said in a regulatory filing that the proposal was approved on Thursday during the meeting of its committee of directors.

“The Committee of Directors … considered and approved to raise on April 13, 2023, on a private placement basis, up to 21,000 numbers of Secured, Unrated, Unlisted, Redeemable, NCDs of face value 10,00,000/each in total 2,100 crore in one or more tranches,” it added.

The company said that it will be issued on the basis of private placement. (PTI)

Stocks to watch: Infosys, HDFC Bank, Reliance, Tata Motors, Vodafone Idea, Zee Entertainment, Tata Steel, HCL Tech, Adani Green and Vedanta

Angel One, Network 18, Just Dial, Hathway Cable and Quick Heal Technologies will be among the stocks that will announce their March quarter earnings today. ,Read more,

Funding crunch fallout: James Murdoch’s Bodhi Tree downgrades planned investment in Reliance

Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, has slashed its planned investment in Reliance’s broadcasting venture Viacom18 by 70% and will now pump in 43.06 billion rupees ($527.84 million), Viacom18 Said late on Thursday.

Indian billionaire Mukesh Ambani’s Reliance Industries said in April last year that Qatar Investment Authority-backed Bodhi Tree would spend Rs 135 billion out of a planned Rs 151.45 billion investment in the media giant, which is also backed by Paramount Global.

Reliance is now leading the investment with an investment of Rs 108.39 billion. ,Read more,

HDFC Bank reports 20% rise in Q4 PAT to ₹12,047.5 crore, NII jumps 24%

Leading private sector lender HDFC Bank reports 19.8% YoY growth in net profit 12,047.5 crore for the fourth quarter ending March 31, 2023 (Q4FY23). Net interest income (NII) grew by 23.7% to ₹23,351.8 crore in the quarter under review. The bank showed healthy growth in deposits and loans, while there was a sharp decline in provisions in the fourth quarter. At the same time, the asset quality of the bank remained stable.

During Q4FY23, the bank’s profit before tax was 15,935.5 crores. However, after providing taxation 3,888.1 crore, HDFC Bank earned a net profit of Rs. 12,047.5 crore, a growth of 19.8% over the quarter ended March 31, 2022. ,Read more,

Infosys misses estimates, consolidated PAT falls 16% QoQ to ₹6,128 crore; declares dividend

Showcasing sequentially weak quarterly growth, Infosys reported a 16 per cent decline in its net profit after tax (PAT) in Q4FY24. IT giant’s Q4 PAT 6,128 crore, which was down 16 percent on a sequential basis. Its revenue has also fallen by 2.2 percent on a quarterly basis. 37,441 crores. The company’s revenue growth in CC terms was 3.2 per cent QoQ and 8.8 per cent YoY.

The company’s operating margin stood at 21 per cent in the fourth quarter of the last financial year. Like Infosys, TCS too missed Street estimates in the fourth quarter and saw its profit fall.

In terms of attrition, Infosys reported a significant drop in its attrition rate to 20.9 per cent as compared to 24.3 per cent in the quarter ended December. ,Read more,

India’s Tata Motors to increase prices of passenger vehicles for the second time in 2023

Indian automaker Tata Motors on Friday said it will raise prices of its passenger vehicles, the second such move this year, due to increase in input costs and regulatory changes making cars costlier to produce.

The weighted average increase, depending on the variant and model, will be 0.6%, the carmaker said in a press release. This will be applicable from 1st May.

Tata Motors had earlier hiked the price of its passenger vehicles by 1.2% in January this year citing the same reason.

Vehicles in the segment have become costlier in India after the government forced automakers to fit them with a special device to monitor emissions, leading to additional costs.

These fuel emission norms, known as Bharat Stage VI norms, came into effect at the beginning of the month. (Reuters)

Buy or Sell: Vaishali Parekh recommends three stocks to buy today – Axis Bank, Tata Motors and SBI Cards

Vaishali Parekh recommends three stocks to buy today, here we give complete details regarding those intraday stocks:

1] axis BankBuy on : 864, target 890 stop loss 850;

2] Tata MotorsBuy on : 469, target 483, Stop Loss 463; And

3] SBI CardBuy on : 758, target 785 stop loss 747. (Read more,

G20 countries expected to agree on a common definition for startups by July; Will enable effective policy making among the members

Indian government officials said the G20 countries are expected to agree on a common definition for startups by July, which enables effective policy making for members and addresses existing challenges around valuation and taxation of startups. Is.

Foundation and Coalition Working Group under the Startup-20 Engagement Group, created during India’s G20 Presidency in 2023, to establish consistent terminology across member countries to define investment, funding and other related terms for startups in the ecosystem is discussing. ,Read more,

Markets to react to Infosys, HDFC Bank’s Q4 results on Monday; Global trends to determine upcoming result week

After two post-holiday weeks in April, the market is gearing up for a full week of trading from April 17 to 21. However, the stock market will react amid lack of major events to fuel the sentiment Infosys And HDFC bankLooking forward to upcoming results like Q4 earnings, HCL Tech, ICICI PrudentialAnd Tata Communications, Also, global trends will set the mood going forward. Sensex and Nifty 50 have given impressive returns in the last 9 days winning spree, which is the longest rally since October 2020. ,Read more,

Wall Street stocks fell on Friday as rate concerns overshadowed big bank profits

Wall Street stocks tumbled on Friday as concerns about interest rates capped an encouraging start to the earnings reporting season for large US companies.

After early gains, the S&P 500 fell 8.58 points, or 0.2%, to 4,137.64. The Dow Jones Industrial Average fell 143.22, or 0.4%, to 33,886.47, while the Nasdaq Composite lost 42.81, or 0.4%, to 12,123.47.

The S&P 500 still squeezed off a fourth winning week in the last five, built on hopes that the Federal Reserve could soon end rate hikes as inflation cools. Higher interest rates can suppress inflation but only by slowing the economy, increasing the risk of recession, and pulling down prices for investment.

A top Fed official dashed those hopes on Friday, saying inflation remained very high and more tightening may be needed. Christopher Waller, a member of the Fed’s governing board, also said that even after rate hikes end, they will need to stay high longer than the market expected.

Following his comments, traders bet the Fed would raise rates at its next meeting in May, rather than take its first pause in more than a year. Some even bet the Fed could hike rates again in June, according to data from the CME Group.

High-growth stocks tend to be hurt the most by higher rates, and Big Tech stocks were among the most heavily weighted on the S&P 500. Microsoft fell 1.3%. (AP)