Share Market HIGHLIGHTS: Nifty, Sensex extend gains to 7th day driven by financial, FMCG stocks; TCS, Infosys play spoilsport
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to rise for the seventh back-to-back session on Dalal Street on Tuesday, amid cautious gains across global markets ahead of a key US inflation reading due this week that could offer more clarity on the course of benchmark interest rates in the world's largest economy. Investors awaited the onset of the corporate earnings season, with IT giants Tata Consultancy Services (TCS) and Infosys (INFY) slated to report their quarterly numbers this week.
Here's a list of headlines that remained in focus on Dalal Street on April 11:
- Anil Singhvi shares list of stocks to invest in to make the most of pause in interest rates
- Monsoon Forecast 2023: Normal rainfall expected this year, El Nino likely this season
- Shipping Corporation of India shares locked in upper circuit; core group of secretaries to meet on April 14
- TCS to kick off Q4 results season on Wednesday; what to expect | Check out India Inc's Q4 results schedule
- ITC shares touch all-time high; what should investors do?
- Jefferies cuts Hero MotoCorp target price by Rs 200, maintains 'buy'
- Explained: The El Nino factor in Indian monsoon
- ICICI Bank allows users to convert UPI payments into EMI: Here's how
- HDFC Bank board to consider Q4 results, dividend on April 15
- Vedanta gets court nod to reopen Tamil Nadu copper smelter; board to discuss fund-raise on Wednesday
Catch HIGHLIGHTS of all the action in the Indian share market on April 11, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to rise for the seventh back-to-back session on Dalal Street on Tuesday, amid cautious gains across global markets ahead of a key US inflation reading due this week that could offer more clarity on the course of benchmark interest rates in the world's largest economy. Investors awaited the onset of the corporate earnings season, with IT giants Tata Consultancy Services (TCS) and Infosys (INFY) slated to report their quarterly numbers this week.
Here's a list of headlines that remained in focus on Dalal Street on April 11:
- Anil Singhvi shares list of stocks to invest in to make the most of pause in interest rates
- Monsoon Forecast 2023: Normal rainfall expected this year, El Nino likely this season
- Shipping Corporation of India shares locked in upper circuit; core group of secretaries to meet on April 14
- TCS to kick off Q4 results season on Wednesday; what to expect | Check out India Inc's Q4 results schedule
- ITC shares touch all-time high; what should investors do?
- Jefferies cuts Hero MotoCorp target price by Rs 200, maintains 'buy'
- Explained: The El Nino factor in Indian monsoon
- ICICI Bank allows users to convert UPI payments into EMI: Here's how
- HDFC Bank board to consider Q4 results, dividend on April 15
- Vedanta gets court nod to reopen Tamil Nadu copper smelter; board to discuss fund-raise on Wednesday
Catch HIGHLIGHTS of all the action in the Indian share market on April 11, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Thank you! That's all today on Zeebiz.com's stock market blog
For all other news related to business, politics, tech, sports and auto, follow us on Twitter, Facebook, LinkedIn and Instagram.
TCS Q4 Results Preview | Constant currency revenue growth estimated at 0.9%
According to Zee Business research, Tata Consultancy Services' revenue growth in constant currency terms is estimated at 0.9 per cent on a quarter-on-quarter basis.
Analysts expect weakness in the rupee against the US dollar and easing attrition to aid the IT major's margin in the quarter. Investors will keenly look out for details of the company's deal wins and its outlook for the BFSI business.
Image: Reuters
Read more on what to expect from TCS Q4 results | Check out updated schedule of India Inc earnings season
TCS Q4 Results | Margin likely to improve by 30 bps
According to Zee Business research, Tata Consultancy Services is estimated to report 2.9 per cent sequential growth to Rs 14,700 crore in earnings before interest and taxes (EBIT) for the three-month period.
The Tata group giant's margin — a key measure of profitability — is pegged at 24.8 per cent for the quarter ended March 2023, as against 24.5 per cent for the previous three months.
TCS Q4 Results Preview | Dollar revenue estimated at $7,202 million
According to Zee Business research, the Tata group company's revenue in dollar terms is estimated at $7,202 million for the quarter ended March 2023, up 1.8 per cent on a sequential basis.
TCS Q4 results on April 12; Net profit likely to rise 7%, dollar revenue growth estimated at 1.8%
Tata Consultancy Services (TCS) — India's largest IT services company — is all set to report its financial results for the quarter ended March 2023 on Wednesday. This will be the first quarterly earnings report by the Tata group IT giant since the appointment of K Krithivasan as the company's CEO Designate following the surprise resignation of CEO Rajesh Gopinathan.
According to Zee Business research, TCS is estimated to report a net profit of Rs 11,600 crore for the January-March 2023 period, marking an increase of 6.9 per cent compared with the previous three months.
The Mumbai-based IT major is estimated to report quarterly revenue of Rs 59,200 crore, translating to growth of 1.7 per cent on a sequential basis, according to the research.
Read more on what to expect from TCS Q4 results | Check out updated schedule of India Inc earnings season
Share Market Today | Nifty 50 closes above 17,700, Sensex rises 311 pts to settle at 60,158 driven by financial, FMCG, metal stocks; TCS, Infosys play spoilsport, weigh on Nifty IT
Both headline indices hold on to much of their intraday gains. The Nifty finishes at 17,722.3, up 98.3 points or 0.6 per cent from its previous close, after gyrating in the range of 17,650-17,750 during the session. The Sensex settles with a gain of 311.2 points or 0.5 per cent at 60,157.7.
Nifty 50
Nifty 50
Image: NSE
Sensex
Image: BSE
Nifty LIVE | TCS, Infosys limit upside in headline index
Image: Niftyindices.com
Both IT giants are scheduled to report their financial results this week.
Share Market Tips LIVE | Navin Fluorine a positional pick, target Rs 4,800, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services shares Navin Fluorine as a positional pick. He tells Zee Business that the stock has formed an inverted head and shoulders pattern on the charts and is poised to reach levels to the tune of Rs 4,800 over the next 3-4 days.
He recommends buying the stock around Rs 4,440-4,450-odd levels for a positional target of Rs 4,800 with a stop loss at Rs 4,390.
Shipping Corp Divestment | Core group of secretaries to meet on April 14
Shipping Corporation shares remain locked in the five per cent upper circuit at Rs 85.2 apiece on BSE.
Image: BSE
Shipping Corp Divestment | Core group of secretaries to meet on April 14
Shipping Corporation shares remain locked in the five per cent upper circuit at Rs 85.2 apiece on BSE.
Image: BSE
IMD Monsoon Forecast | Weather office predicts normal rainfall this monsoon, says El Nino impact may be visible in August-September
Read more on latest IMD forecast
Share Market Tips LIVE | Buy ITC Rs 400 call option, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two derivative recommendations with Zee Business viewers:
- Buy the Rs 400 call option of ITC at Rs 3.5 for a target of Rs 5.5 with a stop loss at Rs 1.5; a breakout in the stock can continue all the way to Rs 400
- Buy the Rs 4,200 call option of Bajaj Auto near 37 for a target of Rs 70 with a stop loss at Rs 17
Anil Singhvi shares his favourite picks to make the most of the market now
Watch Zee Business Managing Editor Anil Singhvi share his top recommendations in the current market:
निवेशकों के लिए पैसा लगाने के 3 बड़े मौके...
अभी पैसा लगाने का क्यों है सही समय?
कौनसे शेयर देंगे बढ़िया Return?
Investors जरुर देखें @AnilSinghvi_ का ये वीडियो #TradingTips #AnilSinghvi #stocks
LIVE - https://t.co/szkcMwMcgt pic.twitter.com/f9d21sij2D
— Zee Business (@ZeeBusiness) April 11, 2023
Jefferies cuts Hero MotoCorp target price by Rs 200, maintains buy
Shares of Hero MotoCorp see-saw between gains and losses amid choppy trade, after Jefferies reduces its target of the stock of the two-wheeler major by Rs 200 to Rs 300.
Image: BSE
Government to invite financial bids for Shipping Corporation in May: Reuters
The government plans to invite financial bids for the privatisation of Shipping Corporation of India (SCI) next month, as it looks to sell the state-run company after years of delay, news agency Reuters reported citing two officials.
The government had, in 2019, announced plans to privatise a number of state-run companies, including selling its stake in SCI, which was stalled due to regulatory delays.
Shipping Corp shares are locked in the five per cent upper circuit, up by Rs 4.1 for the day, at Rs 85.2 apiece on BSE.
Image: BSE