HDFC shares: Motilal Oswal Securities, which has target of Rs 3,290 on the stock, said the merger was on track and that the effective date is likely to be around July.
HDFC shares plunged 4.97 per cent to hit a low of Rs 2,720 and commanded a m-cap of Rs 5,01,7247 crore, down nearly Rs 23,400 crore over Thursday's market value of Rs 5,25,114 crore.
Nirmal Bang Institutional Equities said doing a read-through for the Indian IT services industry from Cognizant's guidance and commentary has not been a fruitful exercise in the past, but things have been changing.
According to various brokerage firms, Ambuja Cements is likely to report a muted growth, in single digits, in revenues on both YoY and QoQ basis, while profit after is likely to decline on a year basis.