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Market may open positive on strong Asian markets April 13, 2021 × ‘The second wave of Covid 19 could jeopardise India’s economic revival and the overall impact will have to be ascertained’ After a Black Monday, markets are expected to be cautious even as the SGX Nifty point to a gap-up opening on Tuesday. Weak economy data and rising number of Covid-19 cases will keep the market in a range, said analysts. The Index for Industrial production (IIP) contracted 3.6 per cent in February while consumer price index or retail inflation rose to 5.52 per cent in March. The SGX Nifty is currently ruling at 14,403 (8 am IST) against Nifty Futures’ close of 14,343.25, signalling a 60-point gap-up opening. While the US markets closed weak overnight, most Asian markets are up almost 1 per cent in early trade on Tuesday. ....
Sudden movement of the rupee is not a reason to panic, say currency dealers business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
SBI Cards, ICICI, Axis gain as HDFC Bank faces regulatory ban on new credit card issuance timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.
Broker s call: Persistent Systems (Buy) | Updated on CMP: ₹1961.10 Persistent Systems Ltd is on track to reach the $1 billion revenue milestone by FY25 (implies nearly 15.4 per cent CAGR over FY21-25) on the back of continued strong traction in the Technology Services business, anticipated recovery in the Alliance business and M&A. The Technology Services business is likely to sustain a 3.5-5 per cent CQGR in the medium term (4.4 per cent in last 6 qtrs), aided by strong deal wins (2.1x book-to-bill in Q3), healthy deal pipeline, growing annuity revenue (3/4th of revenue) and cross-selling opportunities across the client base. PSYS has over $250 million cash on the books and is actively pursuing M&A to augment its domain capabilities, digital offerings and expand presence in Europe. It aims to drive Europe revenue to 15-18 per cent of total revenue in 3-4 years from less than 10 per cent currently. ....