#1 IT services revenues declined 0.8 percent QoQ, below estimate
#2 Margin of 17.1 percent was below the estimate of 17.5 percent
#3 Q1 FY26 revenue growth guidance is -3.5 percent to -1.5 percent QoQ in CC terms, below the estimate of -2 percent to 0 percent
#4 TCV of USD 4 billion was in-line, with a mix gravitating towards large deals
#5 TCV showed 83.5 percent YoY growth
#6 All other verticals showed a QoQ decline
#7 In terms of geography, APMEA led growth
Vijay Shekhar Sharma, Chairman, Managing Director, and CEO of the company, has voluntarily forgone all 2.1 crore ESOPs granted to him under the One 97 Employees Stock Option Scheme, 2019, with immediate effect. This will result in a one-time, non-cash acceleration of ESOP expense amounting to Rs 492 crore in Q4 FY25, with an equivalent reduction in ESOP expenses in future years.
The Nifty index managed to close above the 23,400 level, which had been acting as a resistance. This indicates a breakout. The index has now opened the door for an up move towards the 23,500–23,800 levels. As today is both the expiry and the last trading day of the week, the market may witness some profit booking at higher levels. Option data suggests the expiry could be above 23,300 but is unlikely to go beyond 23,500 as of now.
India will grow 6.5 percent in 2025, as monetary easing and robust public spending continue to support growth, UNCTAD said in its latest economic outlook released on April 16.
“The decision of the central bank to cut the interest rate by 25 basis points for the first time in five years in early February will support household consumption as well as provide a boost to private investment plans,” the international body noted.
Markets edged higher, gaining nearly half a percent as the recovery phase continued. Following yesterday’s surge, the Nifty traded in a narrow range during the first half of the session. However, renewed buying interest in heavyweight stocks across sectors pushed the index higher in the final hours. As a result, it surpassed the resistance at 23,400 and eventually closed near the day’s high at 23,437.20. On the sectoral front, banking, energy, and FMCG were among the top gainers, while auto and pharma sectors remained subdued. The broader indices also posted healthy gains, ranging from 0.63% to 1.01%.
Participants responded positively to favorable cues, including the update on a normal monsoon, further easing of retail inflation, and, importantly, the absence of any negative surprises from global markets. Notably, the sustained strength in banking and financial stocks, along with rotational buying in other sectoral heavyweights, played a significant role in driving the momentum.
With the Nifty now above the 23,400 hurdle, a sustained move could pave the way for a test of the previous swing high around 23,800. Traders are advised to align their positions accordingly, focusing on the sectors that continue to outperform
#1 Profit soars 82.7% to Rs 93.8 crore Vs Rs 51.3 crore, YoY
#2 Revenue jumps 74.4% to Rs 476.6 crore Vs Rs 273.3 crore, YoY
#3 Board appoints Manmohan Sharma as Chief Financial Officer of the company, effective April 16.
Asian stocks traded in a tight range and the yen weakened after US-Japan trade talks advanced, as investors adopt a wait-and-see approach to see how other tariff negotiations unfold.
India domestic consumption is strong. Investing in consumption space is clearly a safe strategy, said Anuj Jain….Read More
The dollar looked set to notch a fourth straight weekly loss on Thursday as tariffs drive investors from U.S. assets, though it lifted off a seven-month low against the yen as U.S.-Japan trade talks have so far steered clear of any currency discussion.
The dollar has taken a beating as the U.S. has threatened, imposed and then postponed massive tariffs, undermining investor confidence in U.S. economic growth and stability.
The dollar touched a seven-month low of 141.62 yen early in the Asia session before bouncing back above 142 when Japan’s economy minister Ryosei Akazawa said foreign exchange had not been discussed at the trade talks in Washington.
The dollar index was parked at 99.5 and also set to notch a loss for the fourth week in a row.
Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged further output cuts to compensate for pumping above agreed quotas.
Brent crude futures rose 34 cents, or 0.5%, to $66.19 a barrel, and U.S. West Texas Intermediate crude was at $62.91 a barrel, up 44 cents, or 0.7%.
Both benchmarks settled 2% higher on Wednesday at their highest levels since April 3 and are on track for their first weekly rise in three. Thursday is the last settlement day of the week ahead of the Good Friday and Easter holidays.
According to experts, if the Nifty 50 sustains above the 200-day EMA (23,360), the next target zone would be 23,550–23,650. Above this, the 23,900 level will be the one to watch. On the downside, 23,200 is likely to act as a key support level, aligning with the upper band of the bullish gap formed on April 15….Read More
US stocks ended sharply lower on Wednesday as Nvidia warned about steep charges from new U.S. curbs on its chip exports to China and Federal Reserve Chair Jerome Powell said U.S. economic growth appears to be slowing.
The Dow Jones Industrial Average fell 699.57 points, or 1.73%, to 39,669.39, the S&P 500 lost 120.93 points, or 2.24%, to 5,275.70 and the Nasdaq Composite lost 516.01 points, or 3.07%, to 16,307.16.
Trends on GIFT Nifty indicate a negative start for the broader index in India, with a loss of 100 points or 0.43 percent. The Nifty futures were trading around 23,369 level.