Share Market HIGHLIGHTS: Nifty settles 5 pts shy of 21,900, Sensex leaps 847 pts aided by a surge in IT stocks
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex surged in early trade on Friday, driven by a rally in IT stocks and a firm trend in Asian markets. Catch minute-by-minute updates of all the action in the Indian share market today, 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.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex surged in early trade on Friday, driven by a rally in IT stocks and a firm trend in Asian markets. In addition, HCL Tech, Wipro and HDFC Life are expected to release the Q3FY24 financial results today.
Catch minute-by-minute updates of all the action in the Indian share market today, 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
Share Market Tips LIVE | Buy Dilip Buildcon shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart also recommends buying Dilip Buildcon shares for a target of Rs 430 with a stop loss at Rs 395.
Share Market Tips LIVE | Buy Share India Securities shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Share India Securities shares for a target of Rs 1,925 with a stop loss at Rs 1,780.
MARKET AT ALL-TIME HIGH | Nifty crosses 21,900 for the first time; Sensex at record 72652.68
Share Market Today LIVE | Analysts suggest these infrastructure-related stocks ahead of Interim Budget 2024
In February, Finance Minister Nirmala Sitharaman will present the budget for the sixth consecutive year. Due to the 2024 Parliamentary Elections, this year's budget announced in February will be an interim one instead of a full-year budget.
Ahead of the budget announcement, market analysts will keep an eye on infrastructure-related stocks, as according to Harsh Goela, co-founder, Goela School of Finance, since the government maintains its steadfast commitment to rapid infrastructure growth in the upcoming fiscal year, there's anticipation of a substantial 20-25 per cent increase in capex allocations for the roads ministry.
Which infrastructure-related stocks should be on investors' radar ahead of the Budget?
INVAsset, PMS's Garg is bullish on IRCON and SJVN as he believes that with this being an election year and the government's initiatives like Make in India and Aatmanirbhar Bharat being backed by PLI schemes, capex-oriented stocks in sectors such as railways, defence, PSU banks, infrastructure, construction, and real estate may lead the bull run.
Maitra likes PNC Infra as it has a decent order book cover and is trading at reasonable valuations. Read more
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 21,895.65; Sensex at record 72619.81
Wipro Q3 results today | Revenue likely to drop in December quarter; here's what we can expect from IT major
Wipro is all set to report its financial results for the October-December period on Friday, January 12, a day after IT giants TCS and Infosys posted in-line numbers for the quarter ended December 31, 2023 (Q3 FY24).
What to expect from Wipro in Q3?
According to Zee Business research, Wipro is estimated to report a consolidated net profit of Rs 2,600 crore for the quarter ended December, which translates into a sequential drop of 1.7 per cent from Rs 2,646 crore in Q2.
The analysts peg the IT firm’s revenue for the three-month period at Rs 22,150 crore, a decline of 1.6 per cent on a quarter-on-quarter (QoQ) basis against Rs 22,516 crore logged in the July-Sepetmber quarter. Read more
Image: Reuters Stocks to Buy | Axis Bank, HPCL, Voltas among analysts' top picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Sacchitanand Uttekar, Rakesh Bansal, Kunal Saraogi, Siddharth Sedani, Rajesh Palviya and Sumeet Bagadia share their top recommendations for the day in this special segment, Pick of the Day. On the top analysts' 'buy' list are stocks such as Axis Bank, Narayana Hrudayalaya (NH) and Voltas. Read more
Share Market Today LIVE | Zomato hits fresh 52-week high again; can you still join the party?
Food delivery firm Zomato’s shares register a 52-week high on Friday, January 12, adding to a series of milestones the stock has crossed over the past few sessions. The stock of Zomato gains by as much as Rs 3.3, or 2.4 per cent, to Rs 141.6 apiece on BSE, surpassing an existing 52-week high of Rs 139 touched the previous day.
With that, the stock took its overall upmove to 6.6 per cent in four days, having scaled a series of 52-week highs this week. Read more
Traders' Diary | Buy, sell or hold strategy on Infy, HPCL, HDFC AMC, Godfrey Phillips, Concor, Chambal Fertilisers, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Friday, January 12. Check out which stocks are on analysts Kushal Gupta and Ashish Chaturvedi's radar, and what they recommend in cash and derivative segments.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Ugro Capital shares in the cash segment for a target price of Rs 287 with a stop loss at Rs 274
- Buy Colgate-Palmolive (India) futures for a target of Rs 2,530 with a stop loss at Rs 2,435Buy the Rs 950 call option of Hindustan Petroleum Corp Ltd (HPCL) at Rs 28 for a target of Rs 45 with a stop loss at Rs 20
- Technical pick: Buy HDFC AMC shares for a target price of Rs 3,600 with a stop loss at Rs 3,470
- Fundamental pick: Buy Concor shares for a target of Rs 935 with a stop loss at Rs 895
- Investment idea: Buy HDFC Bank shares for a 12-month target of Rs 2,000. Read more
HCL Tech Q3 Preview | Firm likely to maintain revenue guidance of 5-6%
HCL Technologies, which is slated to declare its December quarter results (Q3 FY24) on Friday (January 11), is seen to be partially less impacted amid historically high furloughs. Zee Business Research desk estimates the company will post consolidated revenue of Rs 28,040 crore during the Q3 period as against Rs 26,672 crore in the preceding quarter, marking a 5.1 per cent increase quarter-on-quarter (QoQ).
In constant currency terms, the Noida-based technology major is seen to post 4.5 per cent growth on a sequential basis.
Besides, revenue in dollar terms is expected to edge higher by 4.4 per cent sequentially to Rs 336.7 crore in the quarter under review as against Rs 322.5 crore logged in the September-ended quarter. Read more
Share Market Today LIVE | Nifty scales fresh peak of 21,837.7, surpassing the earlier peak achieved on January 1
Share Market Today LIVE | Nifty IT index soars to new 52-week high after in-line results by IT majors
Shares of information technology (IT) companies hogged all the limelight on January 12, after the IT giants TCS and Infosys posted in-line numbers for the quarter ended December 31, 2023 (Q3 FY24). As a result, the Nifty IT index hit a new 52-week high of 36,290.3, gaining a whopping 4.48 per cent in intra-day trade.
Of the 10-stock index, Infosys leads the rally with over seven per cent gains, while other notable gainers are Mphasis (up over per cent), Coforge (up over five per cent), Persistent Systems (up over four per cent), and TCS ( up 3.8 per cent), among others. Read more
Share Market Today LIVE | Should you buy Infosys, TCS, Tata Motors, Zomato, other stocks today? Here is what brokerages suggest
Here's what Morgan Stanley, JPMorgan, Nomura, Goldman Sachs, CLSA, Jefferies and HSBC make of stocks such as Infosys, TCS, Zomato, Tata Motors, TVS Motors, Hero MotoCorp and Bajaj Auto:
Infosys share price target
JPMorgan and Morgan Stanley each have an 'overweight' rating on Infosys with targets of Rs 1,800 and Rs 1,700, respectively. Jefferies and HSBC each have a 'buy' call on the stock with a target of Rs 1,740 and Rs 1,620, respectively.
TCS share price target
Goldman Sachs has a 'buy' rating on Tata Consultancy Services (TCS) with a target of Rs 4,310. Morgan Stanley has an 'equal-weight' rating on the IT major’s stock with a target of Rs 3,900. JP Morgan has a 'neutral' rating with a target of Rs 3,700. Jefferies and HSBC each have a 'hold' call on TCS with targets of Rs 4,000 and Rs 3,640, respectively.
HDFC AMC share price target
CLSA has maintained a 'reduce' rating on HDFC AMC with a target of Rs 3,440. Morgan Stanley has an 'equal-weight' rating on the stock with a target of Rs 3,000.
Jefferies has a 'buy' call on HDFC AMC with a target of Rs 4,010. HSBC has a 'hold' call on HDFC AMC with a target price of Rs 3,410. Read moreShare Market Today LIVE | Nifty reclaims 21,800, Sensex jumps over 550 pts; Infy zooms 7%, TCS up 4%
Share Market Today LIVE | Nykaa shares slip after 0.9% equity change hands via multiple block deals; Lexdale International likely seller
Shares of FSN E-Commerce Ventures, the parent company of Nykaa, slip in Friday's trade, snapping a six-day winning streak. The stock declines after multiple block deals of 0.9 per cent equity, or 2.64 crore shares. According to Zee Business Research, Lexdale International is the likely seller. The market capitalisation of the company stands at Rs 54,729.58 crore at around the same time. Read more
Share Market Today LIVE | TCS stock gains over 3% after positive margin expansion in Q3; global brokerages divided
After the technology major TCS reported better-than-expected Q3 performance, shares of the company in gain over 3 per cent to Rs 3,857.95 apiece at day's high. Nonetheless, major foreign brokerages are divided in their views on the stock.
The IT technology services provider during the quarter ended December posted PAT at Rs 11,058 crore, which is a 2.5 per cent decline on a sequential basis. Nevertheless, PAT logged growth of 1.95 per cent on a year-on-year basis. Margins at the company also increased during the Q3 period to 25 per cent from 24.3 per cent in the preceding quarter. Read more
Share Market Today LIVE | Infosys jumps 5% after in-line Q3 earnings—here's what brokerages suggest
Infosys (INFY) shares takes centre stage on D-Street on Friday after the country's second-largest IT company released its quarterly performance for the October-December period on January 11. The result was mostly in line with analysts' estimates.
The No. 2 software services provider in the country reported a consolidated profit after tax (PAT) or net profit of Rs 6,106 crore for the quarter that ended December 31, 2023 (Q3 FY24). The figure fell 1.7 per cent on a QoQ basis and 7.3 per cent YoY.
The stock emerges as the top Nifty 50 gainer and gains as much as 5.5 per cent in opening deals to hit the day's high of Rs 1,577.5 on NSE, pausing the four-day losing streak.
Infosys Q3 results review: Here's what Anil Singhvi says
Zee Business Managing Editor Anil Singhvi says IT major's earnings are in line with estimates after a long time.
Infosys share price target: Brokerages mixed
Infosys Brokerage Rating Target (INR) Morgan Stanley Overweight 1700 JP Morgan Overweight 1800 Jefferies Buy 1740 HSBC Buy 1620 Nomura Neutral 1500 Macquarie Underperform 1160 Share Market Today LIVE | Nifty near 21,750, Sensex jumps over 300 pts; Infy, TCS, Wipro among top blue-chip gainers
Nifty 50
Source: NSESensex
Source: BSE
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank, TCS, Infosys today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,550-21,600 levels and a strong buy zone at 21,450-21,515 levels on Friday, January 12, a day after Tata Consultancy Services (TCS) and Infosys reported their Q3 results. For the Nifty Bank, he expects support at 47,150-47,250 levels and a strong buy zone at 46,925-47,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Update | Rupee falls 9 paise to 83.10 against US dollar in early trade
Stocks to Watch | Bank of Baroda, TCS, Infosys, other stocks
Here are some stocks that will be in focus on Friday, January 12:
Bank of Baroda: The Reserve Bank of India (RBI) waived the Rs 5 crore penalty imposed on the public sector bank.
TCS: Tata Consultancy Services reported its Q3 results in post-market hours, where revenue from operations stood at Rs 60,583 crore as against Rs 58,229 crore, up 4 per cent year-on-year (YoY). The profit for the third quarter ended December 31 stood at Rs 11,097 crore against Rs 10,883 crore, a rise of 2 per cent.
Infosys: The IT firm's consolidated profit declined 1.7 per cent to Rs 6,106 crore against Rs 6,212 crore (YoY). The revenue for Q3 stood at Rs 38,821 crore against Rs 38,994 crore YoY. FY24 revenue growth guidance is 1.5 to 2 per cent. Additionally, the company will acquire Insemi for Rs 280 crore.
IDFC: The company submitted a joint application with National Company Law Tribunal (NCLT), Chennai, for approval of IDFC and IDFC FIRST Bank's merger.
M&M: Mahindra & Mahindra released production, sales, and export figures for December 2023.
Q3FY24 results to be announced:
Emami: The company's board will consider the results of the third quarter ended on December 31 and the dividend on February 9. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 40.05 points or 0.18 per cent at 21,718.5 ahead of the opening bell on Dalal Street.
Good morning! Welcome to Zeebiz.com's blog on the stock market today
Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, stock picks, brokerage calls and much more through the day.
Happy trading, and happy investing!
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.