Posts filed under 'IT & ITes'
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
The Indian Information Technology stocks have zoomed ahead today with the US Dollar tounching INR 42.6 levels during intraday today. If there is any other sector that will cheer it he US Dollar strengthens, it is the Indian IT Industry. Needless to say, Indian investors who have put in huge monies into Indian IT Stocks that were having a rather dull period for over a year or two now have reasons to smile.
The CNX IT Index is up at 4513.95 (at 2:55 PM IST), up by about 3.90%. Major gainers on the CNX IT today include TCS, Polaris, HCL Tech, Infosys and IFlex.
Intraday highs of some major IT Stocks (NSE; 2:54 PM IST)
Infosys Technologies - Rs. 1824.00
Satyam Computer Services Limited - Rs. 515.00
Tata Consultancy Services - Rs. 969.80
Wipro - Rs. 507.00
MPhasis - Rs. 254.85
HCL Tech - Rs. 306.10
Polaris - Rs. 110.00
Tech Mahindra - Rs. 944.00
Patni - Rs. 280.00
May 14th, 2008
Satyam announced its Q4 results today. The company said its US GAAP revenues grew 46 percent. The company crossed the $2 billion milestone mark for the year. The company added 32 new clients with 4 of them being Fortune 500 companies.
The company expects a revenue growth rate of 24 to 26 percent in FY09 (in both Indian and US GAAP). While EPS is expected to grow in the range of 17 to 19 percent in Indian GAAP, the EPADS* is expected to grow in the range of 15.2 to 17.6 percent,as per US GAAP.
Stock Prices Intraday – about 2:13 PM IST
Satyam (NSE): Rs. 458.55 Down 2.21%
NSE Nifty: 5008.95 Up 1.02%
BSE Sensex: 16,625.26 Up 0.87%
April 21st, 2008
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