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Monday neatly ended the day down, mainly dragged down
by it stocks ahead of tcs' fourth-quarter results. Stocks also fell amid
negative signals from global equities. Technology stocks weighed the most on
the bar, while banks outperformed on rising bond yields. At home, the sensex
fell 482.61 points to end the day at 58,964, while the nifty fell 109 points to
close at 17675. About 2072 shares rose, 1,393 fell, and 121 remained flat. Hcl
technologies, infosys, l&t, wipro and sbi life insurance were the hardest
hit stocks at nifty, while grasim industries, adani ports, jsw steel, upl and
cipla rose. The nifty it index fell over 1% while mid-cap and small-cap indices
ended the day slightly higher. Tcs will open earnings season for nifty
companies.
We expect q4fy22 to be another strong quarter for indian it
players in terms of growth despite high base as tier ii companies are likely to
outperform tier i companies again. Margin headwinds are expected to increase as
supply side pressures are further accentuated by high inflation in the us. The
second largest indian company by market capitalization, growth is expected to
be broad-based across all sectors. The company continues to see strong demand
across technology segments, supported by strong customer demands related to
cloud and digital transformation, data analytics, artificial intelligence, 5g
rollouts for the internet of things and cyber security. Consolidated after-tax
profit for tcs could rise 8% to rs.10,000 crore.