Sharemasterindia.com 1:34 p.m.: The last time Tata Consultancy Services
reported its quarterly results, its shares posted their biggest one-day
loss in six months. India's biggest outsourcer missed sales estimates,
while its profits beat estimates mainly on account of higher other
income. TCS' attrition rose for a fourth straight quarter.
According to Nomura, TCS has missed revenue growth expectations in the last three quarters because of segment-specific weakness in energy, telecom and insurance verticals.
1:14 p.m.: Nifty was trading on absolutely flat note. China's markets recovered and on the commodities front base metal prices stabilised after cracking yesterday.
Dealers told NDTV, that cash volumes were low in the first half of trade and Nifty is expected to remain flat on the back of low volumes. PSU s and defensive stocks were witnessing some amount of buying.
12:57 p.m.: Tech Mahindra bucked the weak trend in IT stocks by rising as much as 1.7 per cent on the BSE on Thursday. Tech Mahindra has announced that it has entered into a tie-up with PNMsoft, a global provider of intelligent business process management (BPM) solutions.
12:46 p.m.: 8K Miles Software Services shares surged over 8 per cent to an intraday high of Rs 920 on Thursday as the company reported strong growth in its earnings for the first quarter of FY16.
12:44 p.m.: European markets open on a positive note. French CAC 40 index advanced 0.6 per cent, Germany's DAX jumped 0.5 per cent and Britain's FTSE100 was also up 0.5 per cent.
12:33 p.m.: Markets edge lower on the back of weakness in IT and oil & gas stocks. The Sensex fell 36 points to 27,650 and the Nifty slipped 13 points to 8,349.
12:20 p.m.: Eros International Media shares surged 11 per cent to hit intraday high of Rs 598 on reports that Eros International Media is in talks to sell 10 per cent stake in Eros Now to Fullerton Fund Management. The deal is pegged at about $800 million and it is beneficial for Eros as it will add to the revenues of the company.
12:14 p.m.: KNR Construction shares surge 7.3 per cent to hit high of Rs 618 after the company won order from the Madhya Pradesh government.
12:04 p.m.: Vedanta shares fall for sixth day in a row. The stock has plunged nearly 20 per cent to hit 52-week low of Rs 140 on the back of selloff in the Chinese stock markets. Shares of metal companies depend on demand of metal products from China and with stock market crash the demand for metal products from China is likely to take a hit.
Motilal Oswal has maintained its neutral stance n Vedanta for target of Rs 177. MOSL says that Vedanta-Cairn merger as at risk from commodity prices and this will imply a risk to swap ratio. MOSL adds that stock performance too has diverged and risk of swap ratio rejection has increased.
11:40 a.m.: Samiran Chakraborty, chief economist with Standard Chartered says that India is looking relatively better than other economies.
11:30 a.m.: Bhushan Steel shares were locked in upper circuit of 20 per cent at Rs 66 after the lenders approved Rs 30,000 crore loan restructuring plan.
11:25 a.m.: Suzlon Energy's shares have surged 8 per cent to Rs 23.45 on the NSE on the back of huge volumes. Suzlon Energy shares were the most actively traded shares on the NSE. As many as 4.12 million shares have changed hands on the exchange.
11:20 a.m.: The Chinese stock markets and Hang Seng were witnessing a relief rally after China's securities regulator banned shareholders with large stakes in listed firms from selling.
The Shanghai Composite index surged 5.6 per cent, Shenzen index was up 6.2 per cent and the Hang Seng advanced 4.6 per cent.
11:17 a.m.: The markets were trading on an absolutely flat note ahead of TCS earnings. The Sensex was up 26 points at 27,714 and the Nifty jumped 4 points to 8,367.
Shares of TCS were facing the heat of selling ahead of Q1 result announcement. The stock fell 2 per cent to Rs 2,545.
Analysts expect India's largest outsourcing company to post sales of Rs 25,326 crore compared to Rs 24,219 crore during the previous quarter and net profit is expected at Rs 5,421 crore compared to Rs 5,905 crore in the previous quarter.
11:12 a.m.: Tata Motors shares fall for sixth day in a row, stock has fallen more than 10 per cent to hit fresh 52-week low of Rs 394.25. The stock has been facing the heat of selling pressure as the company depends highly on Chinese markets for sale of its luxury vehicles Jaguar Land Rover and with stock market crash in China demand for its luxury car will take a hit.
11:04 a.m.: Domestic brokerage Prabhudas Lilladher says that the first quarter of FY16 will be subdued and earnings will start improving from the end of second quarter.
11:01 a.m.: Market Expert Prakash Diwan says that market may move higher and test 8,600, 8,700. The could be led by earnings. In yesterday's downfall, buying was seen in mid-caps which indicates that there is buying interest in the markets.
10:49 a.m.: Yes Bank shares advanced nearly 3 per cent to hit high of Rs 820 after the bank challenged the UBS report on Yes Bank which said that loans approved to stressed companies by Yes Bank have increased by 300 per cent in last three years. UBS also said that the rising credit cost of Yes Bank was not priced in earlier.
Read More: Indian Stock Tips
According to Nomura, TCS has missed revenue growth expectations in the last three quarters because of segment-specific weakness in energy, telecom and insurance verticals.
1:14 p.m.: Nifty was trading on absolutely flat note. China's markets recovered and on the commodities front base metal prices stabilised after cracking yesterday.
Dealers told NDTV, that cash volumes were low in the first half of trade and Nifty is expected to remain flat on the back of low volumes. PSU s and defensive stocks were witnessing some amount of buying.
12:57 p.m.: Tech Mahindra bucked the weak trend in IT stocks by rising as much as 1.7 per cent on the BSE on Thursday. Tech Mahindra has announced that it has entered into a tie-up with PNMsoft, a global provider of intelligent business process management (BPM) solutions.
12:46 p.m.: 8K Miles Software Services shares surged over 8 per cent to an intraday high of Rs 920 on Thursday as the company reported strong growth in its earnings for the first quarter of FY16.
12:44 p.m.: European markets open on a positive note. French CAC 40 index advanced 0.6 per cent, Germany's DAX jumped 0.5 per cent and Britain's FTSE100 was also up 0.5 per cent.
12:33 p.m.: Markets edge lower on the back of weakness in IT and oil & gas stocks. The Sensex fell 36 points to 27,650 and the Nifty slipped 13 points to 8,349.
12:20 p.m.: Eros International Media shares surged 11 per cent to hit intraday high of Rs 598 on reports that Eros International Media is in talks to sell 10 per cent stake in Eros Now to Fullerton Fund Management. The deal is pegged at about $800 million and it is beneficial for Eros as it will add to the revenues of the company.
12:14 p.m.: KNR Construction shares surge 7.3 per cent to hit high of Rs 618 after the company won order from the Madhya Pradesh government.
12:04 p.m.: Vedanta shares fall for sixth day in a row. The stock has plunged nearly 20 per cent to hit 52-week low of Rs 140 on the back of selloff in the Chinese stock markets. Shares of metal companies depend on demand of metal products from China and with stock market crash the demand for metal products from China is likely to take a hit.
Motilal Oswal has maintained its neutral stance n Vedanta for target of Rs 177. MOSL says that Vedanta-Cairn merger as at risk from commodity prices and this will imply a risk to swap ratio. MOSL adds that stock performance too has diverged and risk of swap ratio rejection has increased.
11:40 a.m.: Samiran Chakraborty, chief economist with Standard Chartered says that India is looking relatively better than other economies.
11:30 a.m.: Bhushan Steel shares were locked in upper circuit of 20 per cent at Rs 66 after the lenders approved Rs 30,000 crore loan restructuring plan.
11:25 a.m.: Suzlon Energy's shares have surged 8 per cent to Rs 23.45 on the NSE on the back of huge volumes. Suzlon Energy shares were the most actively traded shares on the NSE. As many as 4.12 million shares have changed hands on the exchange.
11:20 a.m.: The Chinese stock markets and Hang Seng were witnessing a relief rally after China's securities regulator banned shareholders with large stakes in listed firms from selling.
The Shanghai Composite index surged 5.6 per cent, Shenzen index was up 6.2 per cent and the Hang Seng advanced 4.6 per cent.
11:17 a.m.: The markets were trading on an absolutely flat note ahead of TCS earnings. The Sensex was up 26 points at 27,714 and the Nifty jumped 4 points to 8,367.
Shares of TCS were facing the heat of selling ahead of Q1 result announcement. The stock fell 2 per cent to Rs 2,545.
Analysts expect India's largest outsourcing company to post sales of Rs 25,326 crore compared to Rs 24,219 crore during the previous quarter and net profit is expected at Rs 5,421 crore compared to Rs 5,905 crore in the previous quarter.
11:12 a.m.: Tata Motors shares fall for sixth day in a row, stock has fallen more than 10 per cent to hit fresh 52-week low of Rs 394.25. The stock has been facing the heat of selling pressure as the company depends highly on Chinese markets for sale of its luxury vehicles Jaguar Land Rover and with stock market crash in China demand for its luxury car will take a hit.
11:04 a.m.: Domestic brokerage Prabhudas Lilladher says that the first quarter of FY16 will be subdued and earnings will start improving from the end of second quarter.
11:01 a.m.: Market Expert Prakash Diwan says that market may move higher and test 8,600, 8,700. The could be led by earnings. In yesterday's downfall, buying was seen in mid-caps which indicates that there is buying interest in the markets.
10:49 a.m.: Yes Bank shares advanced nearly 3 per cent to hit high of Rs 820 after the bank challenged the UBS report on Yes Bank which said that loans approved to stressed companies by Yes Bank have increased by 300 per cent in last three years. UBS also said that the rising credit cost of Yes Bank was not priced in earlier.
Read More: Indian Stock Tips
