Mahindra & Mahindra has formed an ascending triangle formation and witnessed a congestion breakout of a triangle pattern on the daily timeframe with strong volumes.
Infosys and Liberty Global have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at 1.5 billion euros.
In Infosys, stakes of insurance companies hit a record high of 13.64 per cent in the June quarter. These institutional investors increased holdings in the second-largest IT firm for seven straight quarters.
Indian market regulator, Securities and Exchange Board of India (Sebi), has warned Infosys after finding it in violation of insider trading rules, having found that certain log entries were delayed in the digital database maintained by Infosys under SEBIs Prohibition of Insider Trading Regulations.
Infosys share price: Support on the counter could be seen around Rs 1,300. Two of the analysts suggested to accumulate it at current levels. Investors can buy this stock with a stop loss placed at Rs 1,250 for targets of up to Rs 1,450, one of them said. On the flipside, one more analyst said that a daily close below Rs 1,305 could lead to Rs 1,240 in the near term.