Indian stock market is expected to remain positive to sideways with the start of Q4 earnings season. Markets will react to CPI inflation data in India. IT companies will react to TCS results that were announced on Wednesday after market closing
The market will digest lots of cues at its opening today, where the inflation numbers of the US and India will be a key factor and the Q4 results of TCS will be another important factor. TCS, Infosys, Reliance Industries (RIL), HDFC Bank among stocks to watch today
Tata Consultancy Services (TCS) on Wednesday reported a 14.76% year-on-year (YoY) rise in consolidated net profit at Rs 11,392 crore for the March quarter compared with Rs 9,926 crore in the same quarter last year. The IT giant reported a 16.94% YoY jump in consolidated sales at Rs 59,162 crore compared with Rs 50,591 crore in the same quarter last year
Infosys will announce its fourth-quarter results on April 13. Infosys' revenue growth is likely to be in the range of 1-2.4%, weighed down by macroeconomic headwinds. Growth is expected to be soft due to global slowdown woes and seasonal weakness
Reliance Industries Ltd (RIL) is planning to float the new unit either as a privately placed or listed InvIT and has started working on its financials and legal aspect. Under Sebi norms, it will need at least five shareholders
Suzlon Group on Wednesday said it has bagged a project for developing a 50.4 MW wind power project for Sembcorp's renewables subsidiary Green Infra Wind Energy Ltd. As part of the order, Suzlon will install 24 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each
HDFC Bank on Wednesday announced that it has signed a “Master Inter Bank Credit Agreement” with Export Import Bank of Korea for a USD 300 million line of credit. The pact was signed by the two entities at GIFT City in Gujarat’s capital Gandhinagar on Wednesday
“On the daily chart, Nifty has remained above the channel breakout, suggesting a positive reversal. The daily momentum indicator RSI is in bullish crossover and rising. The market will remain a buy on dips as long as the index remains above 17,700. On the higher end, the rally may extend towards 17,900/17,970,” said Rupak De, Senior Technical Analyst at LKP Securities
“Bank Nifty remains in buy mode and is likely to achieve the target of 41,800-42,000 levels on the upside where fresh call writing is visible. The index downside support stands at 41,500-41,400 levels and as long as this support is not breached on a closing basis the trend remains positive,” said Kunal Shah, Senior Technical Analyst at LKP Securities
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