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Signs of demand revival in the leisure travel segment coupled with expectations of a sharp recovery in FY22 earnings have analysts gung-ho on Indian Hotels Company (IHC), whose shares have rallied a whopping 105 per cent from the 52-week low levels hit in May last year. However, on a year-to-date (YTD) basis, the shares have underperformed Sensex and peers, and even since September last year. IHC stock has added 3 per cent YTD as against a nearly 7 per cent rise in Sensex. While since the end of September, it has gained 31 per cent vs a 34 per cent jump in the benchmark, Ace Equity data shows. ....
Dalal Street gave a lukewarm response to Wipro s buyout worth $1.45 billion (over Rs 10,500 crore), its biggest ever, of London-headquartered Capco as the shares of the firm tanked 4 per cent on the BSE to Rs 421.30 in Friday s trade following the announcement of the deal. Wipro on Thursday said the acquisition will provide it access to 30 new large banking and financial clients and strengthen its position in the Banking, Financial Services and Insurance (BFSI) sector. The BFSI segment accounted for over 30 per cent of Wipro s IT services revenue in the December 2020 quarter that stood at $2,071 million. The deal comes at a time when businesses globally are betting on technology and increasing their spends on digital to support growth during the pandemic. ....
A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders. A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday. The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels. ....
Nestle India s recently launched strategy of product innovation and deeper penetration in the rural areas bodes well for the stock of the firm, according to analysts, who see an up to 17 per cent upside for it from current levels. The shares of the FMCG major have underperformed the market with a 12 per cent decline on a year-to-date (YTD) basis. During this period, the Nifty has jumped 3 per cent while the Nifty FMCG index has dipped 5 per cent, as per ACE Equity data. Going ahead, however, the fortunes are expected to look up as Nestle, at its analyst meet, unveiled a strategy to aggressively pursue expansion in the rural areas, increase capacity and focus on new product launches. ....