Latest news with #MandarBhojane
Mint
13 hours ago
- Business
- Mint
Q1 results today: Power Grid Corp, Tata Power, Hyundai Motor, BASF, MOIL, and Indus Towers earnings on July 30
Q1 results today, on July 30: Power Grid Corp, Tata Power, Hyundai Motor, BASF, MOIL, Indus Towers, and P&G Health are among at least 20 companies set to release their earnings report today, July 30. Overall, over 100 firms are listed to announce their Q1FY26 results during the week of July 28-August 2. These include big names such as IndusInd Bank, Asian Paints, NTPC, Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Sun Pharma, and ITC among others. Investors are keenly watching these for corporate announcements, forward looking statements, revenue outlooks, and share prices, to make calculated investment decisions. At least 20 companies are set to release their Q1 earnings on Wednesday, July 30. These include many public sector (PSU) heavyweights such as PGCIL and MOIL, and private marquee companies such as Tata Power, Hyundai Motor, BASF and P&G Health. Firms releasing their earnings today include, Tata Steel, Power Grid Corporation of India, Hitachi Energy India, Indus Towers, Hyundai Motor India, Procter and Gamble Hygiene and Health Care, KPIT Technologies, Kaynes Technology India, JB Chemicals and Pharmaceuticals, CESC, IIFL Finance, BASF India, Asahi India Glass, Sagility India, Zydus Wellness, Sonata Software, Relaxo Footwears, Birla Corporation, Maharashtra Seamless, and MOIL, among others. The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a tepid opening today, tracking mixed cues from global markets; while the trends on Gift Nifty also indicate a muted start. The Gift Nifty was trading around 24,825 level, a discount of nearly 13 points from the Nifty futures' previous close. And, on July 29, the domestic equity market witnessed fag-end short-covering and ended higher, with the Nifty 50 closing above 24,800 level. The Sensex rallied 446.93 points, or 0.55 per cent, to close at 81,337.95, while the Nifty 50 settled 140.20 points, or 0.57 per cent, higher at 24,821.10. According to Om Ghawalkar, Market Analyst at 'the Sensex saw an intraday reversal formation after a long correction, coupled with a bullish candle on the daily charts, indicating further uptrend from current levels.' He added that the chart reveals a resistance zone between 82,500 and 82,700. The price action remains constrained within this range, and a breakout above resistance could lead to fresh highs, with selling pressure if levels fail to sustain above 80,400 – 80,500. While, Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking, noted that on the options front, the highest Call open interest (OI) for Nifty is seen at the 25,000 and 25,200 strike prices, highlighting potential resistance. 'On the Put side, the highest open interest is concentrated at the 24,800 strike, suggesting strong support. Together, the technical setup and derivative data signal a potential upside continuation as long as key support levels are held,' Bhojane said. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
14 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 30 ahead of US Fed policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a tepid opening on Wednesday, tracking mixed cues from global markets. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,825 level, a discount of nearly 13 points from the Nifty futures' previous close. On Tuesday, the domestic equity market witnessed fag-end short-covering and ended higher, with the Nifty 50 closing above 24,800 level. The Sensex rallied 446.93 points, or 0.55%, to close at 81,337.95, while the Nifty 50 settled 140.20 points, or 0.57%, higher at 24,821.10. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sesex saw an intraday reversal formation after a long correction, coupled with a bullish candle on the daily charts, indicating a further uptrend from the current levels. 'Technically, the chart reveals a resistance zone between 82,500 and 82,700. The price action remains constrained within this range, and a breakout above resistance could lead to fresh highs. However, if Sensex fails to sustain above 80,400 – 80,500, we may see selling pressure resume. The bullish close and strong intraday recovery signal growing confidence, possibly fueled by earnings optimism and short-term institutional buying,' said Om Ghawalkar, Market Analyst, According to him, if Sensex breaks and holds above 82,000, it could aim for the all-time high of 86,000. On the downside, 80,000 remains critical as it also acts like a psychological support. On the options front, the highest Call open interest (OI) for Nifty is seen at the 25,000 and 25,200 strike prices, highlighting potential resistance. On the Put side, the highest open interest is concentrated at the 24,800 strike, suggesting strong support. Together, the technical setup and derivative data signal a potential upside continuation as long as key support levels are held, said Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking. Nifty 50 rebounded after three sessions of decline and ended higher on July 29, forming a bullish 'Engulfing' candlestick pattern on the daily chart. 'Although the rebound provided a temporary pause to the decline, the Nifty 50 continues to trade below the 50-Day SMA (25,050) and the 20-day EMA (25,180), indicating ongoing short-term weakness. The RSI has edged up to 42, recovering modestly from oversold territory, but remains well below its signal line and under the neutral 50 mark. The daily Super trend is capping barriers within the broader trend,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the immediate resistance is now seen at 25,000, followed by 25,100, which aligns with the short-term moving averages and the median of the recent decline. 'These levels must be crossed decisively to consider any reversal. On the downside, 24,470 remains the key support level; a breakdown below this may extend further weakness,' Mehra said. Om Ghawalkar noted that the rebound in Nifty 50 follows the formation of a three black crows pattern, a well-known bearish continuation signal in technical analysis, which had indicated increasing selling pressure. 'Nifty 50 found strong support in the 24,550 to 24,650 range, where it formed a bullish Marubozu candlestick. This type of candlestick often suggests aggressive buying and indicates that bulls may be re-entering the market with conviction. We can see that a short-term reversal may be in the making, particularly if the Nifty 50 can open and sustain above the 24,850 mark in today's trading session,' said Ghawalkar. A move above this level could signal the start of a renewed uptrend and encourage further participation from traders and investors, he added. VLA Ambala, Co-Founder of Stock Market Today highlighted that the Nifty 50 index found support at the 20-week EMA, however, the outlook for swing trading remains 'sell on rise', as the Nifty's RSI stands at 52 on the weekly timeframe. 'This suggests that any upward spike can be seen as a selling opportunity from a trading perspective. We can expect Nifty 50 to gain support between 24,600 and 24,520, and meet resistance near 24,850 and 25,080 in today's session,' Ambala said. Bank Nifty index ended 137.10 points, or 0.24%, higher at 56,222.00, closing above its 50-day EMA. 'Bank Nifty index formed a bullish engulfing candlestick pattern on the daily chart and managed to close above the 56,200 mark, indicating emerging strength. If the index manages to hold yesterday's low of 55,843, a pullback rally could extend towards 56,700 and 57,300 levels,' said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. He advises traders to follow a buy-on-dips strategy in Bank Nifty as long as it holds above 55,843 levels. Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities believes the support zone of 55,800 – 55,700 for Bank Nifty will be crucial to watch, as holding above this band is essential to maintain the current short-term positive bias. 'On the flip side the resistance zone of 56,500 – 56,600 is expected to pose a significant challenge. A decisive and sustainable breakout above the 56,600 level could pave the way for an extended pullback rally with immediate upside targets at 57,000 followed by 57,500 in the near term,' Shah said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
a day ago
- Business
- Time of India
TCS stock slumps! IT firm's shares plunge 33% from lifetime high, down 25% in 2025; amidst layoffs news, will bearish trend continue?
Tata Consultancy Services (TCS), India's prominent IT firm, is facing a disconnect between its operational performance and market sentiment. The company's stock has plunged 33 per cent from its peak, including a 25 per cent drop in 2025 alone, despite strong Q1FY26 results and continued dividend payouts. Recently, the tech giant's announcement of large-scale layoffs, with 12,000 employees set to be let go. Also read: IT ministry 'closely monitoring' 12,000 job cuts, claims report; IT union calls tech firm's move illegal Technical indicators point to sustained downward pressure Despite TCS reporting stable fundamentals and beating earnings estimates in Q1FY26, its stock performance tells a different story. Analysts point to weakening technical signals and broader investor sentiment as key factors behind the persistent decline. 'TCS has broken below a rising trendline on the weekly chart with strong volumes, which signals intensified selling pressure,' said Mandar Bhojane, Equity Research Analyst at Choice Broking, as quoted by Economic Times. Bonanza's Technical Analyst Drumil Vithlani also noted TCS is nearing support levels last seen in October 2022. 'Long-term investors can consider staggered accumulation between Rs 3,060 and Rs 3,000 with a stop loss at Rs 2,900. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like My Brows Look Fuller Looking Now [See Results] NULASTIN Learn More Undo The next bounce, if it comes, could aim for Rs 3,270 and Rs 3,415,' he said. On the fundamentals front, Q1FY26 results were encouraging. Net profit rose 6 per cent year-on-year to Rs 12,760 crore, beating estimates. Revenue climbed 1.3 per cent to Rs 63,437 crore, although constant currency revenue dipped 3.1 per cent—mainly due to the scaled-down BSNL contract. Operating margin improved by 30 basis points sequentially to 24.5 per cent, with operational cash flow at Rs 12,804 crore. Attrition stabilised at 13.8 per cent, but international business saw a 0.5 per cent sequential decline. However, market sentiment took a hit with TCS's announcement to cut 12,000 jobs- about 2 per cent of its workforce- mainly in middle and senior management. The move, tied to internal restructuring and a revised bench policy, echoes a broader trend in the IT industry, which added just 3,847 jobs in Q1. Despite the turbulence, many analysts remain optimistic. Motilal Oswal maintains a Buy call with a target of Rs 3,850, while Nuvama sees potential up to Rs 3,950. Antique and Nomura, though slightly trimming estimates, still expect future gains. Ultimately, TCS's current scenario presents a paradox: technical weakness versus operational resilience. While short-term volatility may continue, analysts suggest the deep correction could offer opportunities for long-term investors willing to wait for a turnaround. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
2 days ago
- Business
- Economic Times
TCS slumps 33% from peak. Is the correction an opportunity in disguise?
Tata Consultancy Services (TCS), India's largest IT company, is facing a sharp disconnect between its fundamentals and its stock price. The stock has plunged nearly 33% from its lifetime high, falling 25% in 2025 alone — even as the company posted better-than-expected Q1FY26 earnings and announced steady dividend payouts. ADVERTISEMENT From a technical standpoint, the stock is under significant pressure. 'TCS has broken below a rising trendline on the weekly chart with strong volumes, which signals intensified selling pressure,' said Mandar Bhojane, Equity Research Analyst at Choice Broking. 'The RSI is down to 28.8, which puts the stock in oversold territory, but the downward trend remains intact for now.' Bhojane advises investors to wait for signs of a reversal before entering. He sees immediate support at Rs 3,000 and Rs 2,800, with a potential upside to Rs 3,500–3,800 if a recovery sets Vithlani, Technical Analyst at Bonanza, also points out that TCS is nearing its October 2022 lows — a critical support zone. 'Long-term investors can consider staggered accumulation between Rs 3,060 and Rs 3,000 with a stop loss at Rs 2,900. The next bounce, if it comes, could aim for Rs 3,270 and Rs 3,415,' he said. ADVERTISEMENT TCS reported a net profit of Rs 12,760 crore for Q1FY26, up 6% year-on-year and above Street expectations. Revenue rose 1.3% YoY to Rs 63,437 crore, but the constant currency figure declined 3.1%, mainly due to a sharp ramp-down in the BSNL expanded 30 bps sequentially to 24.5%, and net cash from operations was a healthy Rs 12,804 crore — 100.3% of net income. Attrition stood at 13.8%, indicating a relatively stable workforce environment. ADVERTISEMENT Still, the BSNL hit and ongoing macro uncertainties led to a 0.5% sequential dip in international business, a concern highlighted by several brokerages. ADVERTISEMENT Investor sentiment took another hit after TCS announced plans to lay off over 12,000 employees, 2% of its workforce, citing AI-led disruptions and weak demand in certain verticals. The layoffs, largely affecting mid- and senior-level staff, are part of what the company describes as a move toward becoming a 'future-ready' follows criticism over TCS's newly revised 'bench policy,' which puts employees under greater pressure to remain billable. Industry-wide, hiring has slowed dramatically, the top six IT firms added just 3,847 people in Q1, down 72% from the previous quarter. ADVERTISEMENT Despite the bearish chart setup and recent workforce cuts, most brokerages remain bullish on TCS, pointing to its attractive valuations and strong Oswal maintained a Buy with a Rs 3,850 target, noting that execution on BSNL remains a concern, but margin expansion and cash flows are revised its target slightly down to Rs 3,950 but expects growth to pick up as macro conditions and Nomura both lowered their targets marginally but still see upside from current levels, citing long-term visibility and cost is in a tough spot, technically weak, but fundamentally stable. While short-term momentum may continue to be negative, analysts believe long-term investors could benefit from staggered accumulation at key support question isn't whether TCS is struggling now; that's clear from the price. The bigger question is whether the correction has gone too far relative to the company's core the fundamentals hold, and the global tech cycle improves, this may indeed be one of those moments where fear creates opportunity. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hans India
4 days ago
- Business
- Hans India
Indian markets end marginally lower this week amid subdued Q1 earnings, global sentiment
Mumbai: The Indian equity market ended 0.26 per cent lower on a weekly basis, showing decline for the fourth consecutive week, due to subdued Q1 earnings and cautious global sentiment, analysts said on Saturday. The Nifty50 breached the key level of 24,900, and reached 24,837 when the market closed on Friday. FIIs consistently remained net sellers for last five sessions, reflecting broad-based selling pressure. Mid-cap and small-cap indices saw steeper corrections, underperforming the benchmark. "Technically, Nifty is trading below its 20- and 50-day EMAs, indicating a bearish short-term trend. The next immediate support to watch is at 24,750, and if this level breaks, further correction may push the index down toward 24,580 near the 100-day EMA — an important technical support zone," said Mandar Bhojane from Choice Equity Broking Private Limited. Meanwhile, the United States' new law on stablecoins, Genius Act, threatens to reshape the flow of capital in India, China and other economies, where banks may be compelled to allow transactions in stablecoins through subsidiaries. With tariff uncertainty still elevated, the India-UK free trade pact, signed this week, is a boost to ,any stocks from textiles, automobile, pharmaceuticals and jewellery poised to benefit from the reduction, and in some cases elimination, of tariffs. Vinod Nair, Head of Research, Geojit Investments Limited said, "The finalisation of the US-Japan and India-UK trade agreements marks a key step in easing global trade barriers. A resolution of the US–India mini trade deal by August 1 could further allay investor concerns'. Private banks like ICICI and HDFC Bank reported steady Q1 earnings. Improved fundamentals and valuations helped PNB Housing Finance and Bajaj Finance. "The sectoral laggards, including IT and financials, were adversely impacted by subdued guidance and emerging concerns around asset quality. Subpar aggregate earnings performance is likely to challenge the sustainability of current premium valuations across benchmark indices, and we expect a consolidation in the near term," Nair said. While the global economy is experiencing volatility, India's macroeconomic indicators are cautiously optimistic. The Reserve Bank of India's latest bulletin (RBI) shows a domestic economy that is resilient in the face of global headwinds. Headline inflation has reached its lowest level in years, fuelling expectations of further rate cuts.
