Posts filed under 'IT & ITes'
The Information Technology has seen many ups and downs which are mostly to do with the global economic conditions and the reduced sending of the US corporate. But with things getting better and the large-cap IT stocks having already started to see a rebound, it will be a good time to take a look at the midcap IT section too. And needless to say, Mindtree (BOM:532819)(NSE: MINDTREE)(ISIN Code: INE018I01017) is one of the most favorite amongst Indian midcap IT stocks.
Analysts feel that the calendar year 2010 will see IT spending to gain momentum and Mindtree appears to be well placed to make the best of the situation. Its recent deal wins, one from a large US financial institution and another from a global FMCG giant, are an example as to how swiftly Mindtree gets projects. Improvements in bottom line and operating leverage are expected to help the company to report better profits going forward.
On the BSE, Midtree is currently trading at 636.00 levels. Its 52-week high is at 663.00 (November 18, 2009) and 52-week low is at 187.10 (March 13, 2009). Analysts feel the script can be targeted for Rs. 700.
November 20th, 2009
Friday, September 12, 2008 10:52:44 AM IST
The markets are having yet another opening in the red. NSE Nifty is trading at 4265 levels while BSE Sensex is down by 135-odd points and is trading at 14188 levels.
CNX IT is down 2.97% after the recent volatility in the currency rates. Bank Nifty is down 1.2%. CNX 100 is down 0.59% while CNX 500 is down 0.55%
Top Nifty gainers so far include Maruti, National Aluminium, SAIL, M&M, ITC, ONGC, Power Grid, BHEL, Ambuja Cement and Tata Steel. Top Nifty losers include Infosys (down over 5.3%), Satyam, Bharti Airtel (both down over 3%), DLF, TCS, ICICI Bank (all down over 3%), Wipro, HCL Tech, SBI and Grasim (all down over 1.5%).
BSE Midcap and Smallcap indices are marginally in the red. IT, Realty, Bankex sectoral indices are in the red.
Infosys opened the day at 1753.00 and saw a high of 1753.00 and low of 1647.00 today and is trading at 1657.00. The script closed at 1750.65 yesterday on the Nifty.
Infosys stock is under pressure after a US agency was reporting that Infosys US Dollar reported numbers would require a review after the US Dollar appreciated over European currencies such as the Pound and Euro. Infosys CFO is on a leading business television channel saying that they might have an impact but might not warrant a review at the middle of the quarter and said that the reports are speculative. Infosys has about 28 - 30% of its revenues from non-USD currencies and because of the sudden appreciation of the USD over European and other Asian countries, export service incentive industries having a global presence such as the IT and Pharama are caught into a tangle of currency fluctuations.
1 U.S. dollar = 45.4607 Indian Rupees
1 U.S. dollar = 106.5757 Japanese Yens
1 U.S. dollar = 0.7174 Euros
1 Ounce Gold = $751.80
1 Barrel Crude Oil = $101.36
September 12th, 2008
Friday, September 05, 2008 4:29:42 PM IST
Not much to cheer about, the markets took yet another dull day today. Nifty closed at 4352 down 2.15% while Sensex lost 415 points to close at 14483.83 down 2.79%
Realty stocks are once again hit hard. The BSE Realty index is down 4.17% with Akruti City (down 6%), DLF (down 5.4%), Unitech (down 4.7%), Mahindra Life, India Bulls Real Estate and HDIL (all down over 3%) being the big names in the index that are hit hard today. 7 of the 9 scripts in the index declined today.
Despite some cheer in the USD-INR during mid day, forex did not cheer any IT scripts today. The 11 stock BSE IT had 9 declines today. Aptech (down 5.8%), Infosys, Moser Ber, Wipro, Rolta (all down over 4%), Satyam (down over 3%) all closed the day in the red.
There are not many large cap gainers today. However, BPCL topped the charts and closed the day up 8.57%. Hindustan Unileaver is up 1.85% while ITC and ONGC closed the day marginally in the green.
1 U.S. dollar = 44.2243 Indian Rupees
1 U.S. dollar = 106.1345 Japanese Yens
1 U.S. dollar = 0.7026 Euros
1 Ounce Gold = $795.00
1 Barrel Crude Oil = $106.38
September 5th, 2008
Thursday, September 04, 2008 1:27:34 PM IST
HCL Technologies is buzzing after news came out that HCL is working with its advisors (ML) and Bankers (Stan Chart) for a possible counter bid to acquire Axon. Axon, readers may recall, was in news about 10 days back when Infosys announced it is in the process of acquiring the company. Meanwhile, readers may also recall HCL announced a few months back that it is waiting for a good target acqusition which means that HCL is well prepared to acquire a company.
The BSE IT space is managing to stay in the green. The BSE IT Sectoral index is at 4073.81 up 0.17%. 5 of the 11 stock index are currently trading in the green. HCL Technologies is at 251.55 levels up 0.78% on the BSE. Infosys is at 1785 levels marginally up 0.55%
Meanwhile the indices are back in the red. The NSE Nifty is down 1.37%. CNX IT and Bank Nifty are marginally in the red. BSE Sensex is down 196 points and is at 15049 levels.
BSE Realty index is now more deeper in the red. The index is down 3.17% at the moment. Needless to say Unitech does figure in the NSE Nifty losers charts. The script is trading at 164.55 levels and is down 2.95%
1 U.S. dollar = 43.9502 Indian Rupees
1 U.S. dollar = 107.9797 Japanese Yens
1 U.S. dollar = 0.6895 Euros
1 Ounce Gold = $811.00
1 Barrel Crude Oil = $109.62
September 4th, 2008
Friday, August 29, 2008 11:31:51 AM IST
Buying in banking stocks are driving the market more into the green. Bank Nifty is up 5.44% while BSE Bankex is up 5.21%. ICICI Bank and SBI are both up over 6%. PNB is up 5.1%. HDFC Bank is up 4%. Tech Mahindra is in news for acquiring a minority stake in Servista.
Midcap Technology stock Tech Mahindra Limited (NSE:TECHM) has announced signing of an agreement with a United Kingdom-headquartered systems integrator Servista to acquire a minority stake in the later. As per the agreement, Tech Mahindra will be the exclusive delivery arm for Servista. Tech Mahindra will also help more large scale European IT offshoring business.
Servista operate in the Telecoms, Financial Services and Energy market sectors, with core offerings in CRM, Billing, Operational Workflow, IT Systems Transformation and Testing. Incidently telecom is the biggest business for Tech Mahindra. The acquiring of the stake will help the Tech Mahindra to expan its European presence as well as improve its business development capabilities.
Current price: 748.00 (at the time of writing)
52-week high price: 1550.00
52-week low price: 575.00
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $835.10
1 Barrel Crude Oil = $116.93
August 29th, 2008
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