#1 IT services revenue grows 0.4 percent to Rs 22,285.1 crore Vs Rs 22,195.7 crore, QoQ
#2 EBIT jumps 4.5 percent to Rs 3,899 crore Vs Rs 3,732.2 crore, QoQ
#3 Margin expands by 70 bps to 17.5 percent Vs 16.8 percent, QoQ
#4 Company declares interim dividend of Rs 6 per share
#5 Dollar revenue declines 1.2 percent to $2,629.1 million Vs $2,660.1 million, QoQ
#6 Revenue in constant currency terms rises 0.1 percent against 0.6 percent, QoQ
#7 Wipro sees IT services revenue in Q4 in $2,602-2,655 million range, a growth of (-1 percent) to +1 percent
#1 Profit grows 10 percent to Rs 3,304.8 crore Vs Rs 3,005.01 crore, YoY
#2 Net interest income increases 9.8 percent to Rs 7,196.3 crore Vs Rs 6,553.5 crore, YoY
#3 Provisions and contingencies zoom 37.1 percent to Rs 794.1 crore Vs Rs 579.1 crore, YoY
#4 Provisions and contingencies spike 20.2 percent to Rs 794.1 crore Vs Rs 660.4 crore, QoQ
#5 Net NPA drops to 0.41 percent Vs 0.43 percent, QoQ
#6 Gross NPA rises to 1.50 percent Vs 1.49 percent, QoQ
#7 Bank to raise funds up to Rs 10,000 crore via NCDs
Amid positive global cues, the Indian indices opened higher on January 20 with Nifty around 23,300.
The Sensex was up 132.83 points or 0.17 percent at 76,752.16, and the Nifty was up 31.65 points or 0.14 percent at 23,234.85. About 1577 shares advanced, 1045 shares declined, and 179 shares unchanged.
Kotak Mahindra Bank, SBI, Bharti Airtel, Bajaj Finance, Reliance Industries were among major gainers on the Nifty, while losers were Shriram Finance, SBI Life Insuramce, Tata Steel, Hindalco Industries, Tata Motors.
Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Wipro, Tech Mahindra, Kotak Mahindra Bank and more….Read More
Last week, Wall Street surged, with the Dow, S&P 500, and Nasdaq gaining 3.2%, 3.4%, and 3.9% respectively, driven by optimism ahead of President-elect Donald Trump’s inauguration. Meanwhile, Indian markets struggled, with Nifty lagging due to concerns over potential Trump tariffs. However, optimism returned this week as Gift Nifty shows signs of recovery.
Copper futures hit a two-month high on demand expectations, while China’s strong industrial output added to the positive sentiment. NALCO, NTPC, HAL, and Apollo Hospitals are stocks to watch for potential gains, particularly on any intraday weakness, with Nifty Metal expected to outperform despite foreign institutional investor outflows.
NBFC Veritas Finance, which is backed by private equity investors like Norwest Venture, Kedaara Capital, and British International Investment Plc, has filed preliminary papers with the capital markets regulator SEBI as it plans to raise Rs 2,800 crore via initial public offering.
Established in 2015, Veritas Finance is a non-deposit taking non-banking financial company (NBFC) with a total AUM of Rs 6,517.2 crore (as of September 2024), providing small business loans to micro, small and medium enterprises (MSMEs) and self-employed individuals.
The IPO will comprise of fresh issuance of equity shares worth Rs 600 crore, and an offer-for-sale of Rs 2,200 crore worth shares by the existing shareholders.
The Nifty50 is currently trading in a narrow range of 23,140-23,360, and a decisive move is needed for any clear trend. Immediate resistance and support are placed at 23,290 & 23,140 respectively. The Auto sector shows similar consolidation, while the Energy sector, led by ONGC and Torrent Power (On the verge of Rounding Bottom and Falling Wedge breakout), suggests a bullish outlook; indicating potential breakouts.
FMCG’s activity this week may reveal its directional move, while the IT sector is facing a short-term negative trend following a trendline breakdown, though the downtrend may not last long.
Piercing candle, as well as AB=CD harmonic pattern coupled with a hidden bullish divergence in RSI, provides positivity in the Metal sector, HindCopper (Bullish AB=CD), Hindalco (Reversed from the lower end of the Rising Channel by forming a Bullish Engulfing pattern coupled with a Hidden Bullish Divergence), Tata Steel (Bullish Bat pattern at its long trendline support), and SAIL (Reversed from its long term trendline support).
The PSU Banking sector performed well last week, but follow-up buying is necessary to confirm the bullish divergence. The Defence counters are strong on higher timeframes, with BEL & HAL (Forming Bullish Flag and Pole Pattern), and BDL (Symmetrical Triangle Breakout) showing promising chart patterns.
Lastly, Mid and Smallcaps show reduction in selling pressure with hammer candle patterns and positive RSI divergence, indicating potential short-term bottoms.
Indian rupee opened 14 paise higher at 86.47 per dollar on Monday versus Friday’s close of 86.61.
Benchmark indices are trading firm in the pre-opening session.
The Sensex was up 389.37 points or 0.51 percent at 77,008.70, and the Nifty was up 84.60 points or 0.36 percent at 23,287.80.
Motilal Oswal Finvest has offloaded 64.99 lakh shares in Spacenet at an average price of Rs 7.32 per share.
AL Maha Investment Fund PCC-Onyx Strategy bought 39.63 lakh shares in Kamdhenu Ventures at an average price of Rs 17 per share.
Tech Mahindra is slowing moving ahead in its three-year turnaround plan, aiming to tackle the company’s slowing growth. With consistent improvement in the first three quarters of FY25, brokerages believe the path to recovery ahead with get much tougher. …Read More
Strategic Sixth Sense Capital Fund sold 68,800 equity shares in the company at an average price of Rs 147.21 per share.