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MUMBAI : Fourth-quarter results from the top two Indian IT companies have produced contrasting investor responses. Tata Consultancy Services (TCS) surged the day after the company said it was back on course to double-digit growth and high margins. Infosys slumped the next trading day after forecasting lower margins, disappointing the street with
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How to trade in a range-bound market
Mumbai: India’s benchmark indices are likely to remain in a narrow trading range for want of a definitive directional trigger. To make money in such an environment, derivative analysts are advising their clients to utilise the so-called iron condor that allows traders to place four different bets on the same instrument.

The iron condor, utilising

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Market Now: PNB, Hindalco among most traded stocks on NSE
NEW DELHI: Punjab National Bank (number of shares traded: 0.69 crore), Hindalco Industries (0.68 crore) and Ashok Leyland (0.56 crore) were among the most traded stocks on NSE during the early trade on Friday.

Vedanta (0.49 crore), BPCL (0.49 crore), Tata Consultancy Services (0.41 crore), ICICI Bank (0.41 crore), Infosys (0.40 crore), YES Bank

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Brokerages raise target price on TCS by up to 28%
Leading domestic and foreign brokerages have raised their target price on Tata Consultancy Services’ stock by up to 28 per cent as the company’s March quarter earnings beat market expectations. The biggest target price increase came from Jefferies while JM Financial, Edelweiss, CLSA, HSBC and Kotak Institutional Equities increased their target
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India bond yields spike, rupee falls after central bank meeting minutes
MUMBAI: Indian bond yields spiked while the rupee dropped to its lowest in more than a year on Friday after the minutes of the monetary policy panel meeting suggested that they were likely to take a more hawkish tone starting as early as June.

The Reserve Bank of India's MPC members flagged several concerns, including an increase in minimum

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TCS rallies 5% to hit record on solid Q4; more gains on the way
NEW DELHI: India's leading IT firm TCS jumped 5 per cent on Friday to hit a new all-time high on solid quarterly earnings as the company beat Infosys with a faster dollar-denominated revenue growth for 2017-18.

The stock rose 5 per cent to hit a fresh peak at Rs 3,357 on the BSE as the Q4 show beat Street expectations. It cut down gains and traded

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Bonds drop, call rates rule steady
Government bonds (G-Secs) dropped on heavy selling pressure from banks and corporates, while, Interbank call money rates ruled steady as demand from borrowing banks match supplies.

The 7.17 per cent 10-year benchmark bond maturing in 2028 went-down to Rs 96.29 from Rs 96.8625, while its yield rose to 7.72 per cent from 7.63 per cent.

The 6.68 per

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Market Now: Check out the stocks that cracked up to 14% on NSE
NEW DELHI: Shares of FCS Software (down 14.29 per cent), Raj Rayon (down 14.29 per cent), Nakoda (down 14.29 per cent) and Shekhawati Poly-Yarn (down 12.50 per cent) cracked up to 14 per cent on NSE during Friday's trade.

Stocks such as Eveready Industries India (down 10 per cent), Monnet Ispat (down 9.90 per cent), Bedmutha Industries (down 9.86

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Kenneth Andrade's firm buys 2% stake in Hathway Cable
Kenneth Andrade-owned Old Bridge Capital Management on Thursday bought 1.6 crore shares of Hathway Cable - Datacom, which represents 2% stake in the company, bulk deal data on the BSE showed.

Old Bridge bought the stake at Rs 39.5 per share. Andrade, who formerly worked with IDFC Mutual Fund, is known for his mid cap picks.

The bulk deal

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ETMarkets Evening Podcast: What may sway your market next week
Hi friends! You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul, getting you a snapshot of today's trading, plus detailed insights from market analysts.

At no stage during the day, the market made any pullback worth its name. In the end, stock benchmarks settled little changed from their previous levels.

The BSE Sensex finished

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Infosys or TCS: Which stock to buy post March quarter earnings
With quarterly results out of their way, the big question for Infosys and TCS is which can hold investor attention better. The verdict is out.

TCS on Thursday reported a 5.71 per cent sequential rise in consolidated net profit at Rs 6,904 crore for January-March. Infosys last week posted a 28.2 per cent drop in quarterly net profit at Rs 3,690

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Metal stocks outperform on rise in commodity prices
Mumbai

Metal stocks outperformed in Thursday’s trade on uptick in global metal prices, with the BSE Metal index surging 4.5% to 14828.33-its highest closing level since March 1.

Hindalco Industries was the best gainer on the metal index, surging 9.1% to Rs 264.75 followed by National Aluminium Company, Vedanta and JSW Steel which rallied 4.3-9.0%.

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Religare Enterprises raises Rs 146 crore via warrants
New Delhi: Religare Enterprises Ltd has raised Rs 145.78 crore by issuing convertible warrants to a group of investors, the company has disclosed in a stock exchange filing. The warrants were allotted on a preferential basis and entitles the investors to subscribe to a total of around 11.15 crore equity shares of face value of Rs 10 each at a
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FIIs selling across sectors, but are gung-ho on these 12 smallcaps
NEW DELHI: Foreign investors’ love for second-rung stocks is testing the limits.

At a time when FIIs have rapidly cut exposure to the domestic market – they have already withdrawn half of what they had invested in FY18 – their investment in some midcap and smallcap stocks has hit record high.

FIIs are liberally putting in money in these stocks

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The Thursday’s session remained extremely rangebound, as the NSE benchmark Nifty oscillated in a 20-point range throughout the day, making no directional headway. The Index gained 39.10 points or 0.37 per cent, but showed no conviction on either side.

As we approach the last trading day of the week, we see Friday’s trade getting off on a quiet n

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F O: Fall in VIX suggests limited downside, consolidative moves
By Chandan TapariaThe Nifty remained in a broader range and witnessed recovery from 10,520 zones to close on a flattish note. The index formed a Doji candle with long lower shadow, which indicates that decline was being bought into, as it got stuck in range ahead of the expiry week.

The index has been making higher highs higher lows on a weekly

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MUMBAI: Billionaire Dilip Shanghvi of Sun Pharma has bought 3.8 per cent stake in Unichem Laboratories through his firms Alrox Investment, Family Investment and Airborn Investment, data on the shareholding pattern of Unichem showed.

As on March 31, 2018, Alrox Investment and Finance held 1.42 per cent, while Family Investment and Airborn

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RBI minutes: A rate hike might just be round the corner
Mumbai: A hike in interest rates might just be round the corner going by the minutes of the Monetary Policy Committee (MPC) released on Thursday. The common concern is the impact on inflation of the proposed hike in minimum support prices, fiscal concerns and the lagged impact of house rent allowances as recommended by the pay commission. Besides,
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Passports of 150 defaulters impounded due to its effort, says PNB
State-run Punjab National Bank on Friday said that based on its complaints passports of 150 wilful defaulters were impounded. This the first such revelation by any bank after the government told banks to seek passport copy of all borrowers above Rs 50 crore.

The bank embroiled in the Rs 14,000-crore scam involving jewellers Nirav Modi, Mehul Choksi

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Market Now: IT stocks surge up to 5% on weakness in rupee
NEW DELHI: A fresh fall in Indian rupee and better-than-expected earnings by industry heavyweight Tata Consultancy services seem to have augured well for IT stocks.

The Nifty IT index was trading 3.39 per cent up at 13,724 around 10:35 am (IST) on Friday with majority of the components in the green.

Shares of Tata Consultancy Services (up 4.95 per

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TCS tops Street view in Q4, hands out double bonanza to investors; 6 key takeaways
NEW DELHI: India’s top IT outsourcing firm TCS on Thursday reported better-than-expected earnings for January-March, with highest-ever incremental dollar growth for the fourth quarter.

The firm’s Rs 6,904 crore profit in the gone-by quarter was more than ETNow estimate of Rs 6,812.5 crore.

The board of the Tata group firm also announced a final di

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NEW DELHI: Blame the banking trio – ICICI Bank, YES Bank and State Bank of India – for Friday’s disappointing show on Dalal Street on a day when IT heavyweights TCS and Infosys were firing on all cylinders.

Equity barometer Sensex staged an impressive rebound later in the day to close slightly lower. Weakness in bank stocks post RBI's hawkish

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Market Now: TCS, Infosys among most active stocks in terms of value
NEW DELHI: Tata Consultancy Services (Rs 1432.86 crore), Infosys (Rs 564.35 crore) and BPCL (Rs 197.58 crore) were among the most active stocks in terms of value on NSE during the early trade on Friday.

Hindalco Industries (Rs 196.31 crore), HCL Technologies (Rs 160.78 crore), Vedanta (Rs 158.91 crore), YES Bank (Rs 142.43 crore), Tata Steel (Rs

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TCS Q4 profit rises 4.5% YoY to Rs 6,904 crore, approves 1:1 bonus issue
NEW DELHI: Tata Consultancy Services (TCS), the largest Indian IT firm by sales, on Thursday reported a 4.48 per cent year-on-year (yoy) rise in consolidated net profit at Rs 6,904 crore for the March quarter.

The number topped Rs 6,812.5 crore profit estimate by analysts in an ETNow poll.

The IT services, consulting and business solutions firm

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TCS nears scripting history of India's first company with $100 billion m-cap
Shares of IT bellwether TCS hit a record high on Friday and was on the cusp of becoming the country's first listed company in the Indian history to enjoy a market capitalisation (m-cap) of $100 billion. This is roughly 2.5 times bigger than its nearest competitor Infosys, whose market value stood at $38 billion at the time of writing this report.

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Key takeaways from IndusInd Q4 results
Mumbai : IndusInd Bank reported a 27 per cent rise in net profit on-year for the fourth quarter of FY18, mainly due to higher interest income, even as the bank reported an uptick in non-performing assets (NPAs) and its computation of bad loans showed a divergence from the central bank’s assessment for FY17. Net profit rose to Rs 953 crore from Rs 7
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NEW DELHI: Stocks lacked spark on Thursday, but ultimately did a good job by staying positive at the close of the session.

Earnings play dominated the proceedings, but simmering crude threatened to throw a spanner in the works.

The Sensex bounced 96 points to 34,427 while the broader Nifty added 39 points to shut shop at 10,565.

Let's see who all

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Top intraday trading ideas for afternoon trade for Friday, 20 April 2018
NEW DELHI: The Nifty50 index was trading 30 points down at 10,535 around 11:45 am (IST) on Friday following selling in all sectors, barring IT.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Kunal Bothra, independent market expertGNFC is a 'Buy' call with a

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India story would be damaged if Modi is not re-elected, says Chris Wood
The India story would be badly damaged if Prime Minister Narendra Modi is not re-elected, said CLSA's Chief Strategist Christopher Wood in his widely read weekly newsletter 'Greed - Fear'.

Wood said that India has not been the flavour of the month so far in 2018 due to a sell off in the bond market and concerns about renewed weakness in the

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Tech view: Nifty50 forms 'Doji Cross'; key resistance at 10,580 level
NEW DELHI: Nifty50 reclaimed the 10,550-mark in a lacklustre trade on Thursday. The index moved in a small 26-point range for the session to end up forming a ‘Doji Cross’ candle on the daily chart.

The index may continue to consolidate around the prevailing levels and face tough resistance at 10,580 in the extreme short term.

For the day, Nifty50

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