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Time of India
3 days ago
- Business
- Time of India
Top stocks to buy today: Stock recommendations for May 29, 2025
Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Chennai Petroleum Corporation, LTIMindtree , and Zydus Lifesciences are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for May 29, 2025: Index View: Nifty For the past 9 trading days, Nifty has been static within a 2% band, however the highs of 25000 has been constantly providing supply non index longs. Unless a closing above 25050 is not confirmed, the downside swing towards 24300 / 24100 remains open on the index. Nifty has had a nearly 15% run up in the past 6 weeks without a 2% correction. With the price action seen from the start of this week, it is fair for the index to retest 200 DMA support on downside which currently reads below 24100. Bank Nifty Bank Nifty has broken from its 6 week rising trendline in last week's trading. This puts the index back on track to retest its polarity support of its original 5 year rising trendline. Targets for this breakdown hint for a 1200-1500 point breakdown from CMP. Negation for this down move is seen only when the index closes above 55600. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo CHENNPETRO (BUY):LCP: 719.05Stop Loss: 681Target: 777 After a bullish head and shoulder breakout on daily and weekly charts earlier this month, prices are consolidating after crossing the 200 DMA resistance on shares on Chennai Petroleum Corporation. This consolidation in a range is a typical price behaviour on this stock historically observed before another round of up move. A follow up move of 7-9% is likely to be unfolded post this monthly derivative expiry. LTIM (BUY):LCP: 5099Stop Loss: 4950Target: 5525 After trading at a 3 year low in April, LTIMindtree has been rising within a channel and has gained 25% since its April lows. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTYIT index on a YTD basis which is down over 13% while LTIM is down 8% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 5525. ZYDUSLIFE (BUY): LCP: 925.60Stop Loss: 888Target: 980 Zydus Lifesciences stock has closed at a 2 month high, after breaking out from a falling trendline earlier this month which was in place since August 2024. Repeated higher lows have been seen from the start of this month on daily charts, this 2 high note closing on charts is likely to allow further thrust on the stock for a resistance meet at its 200 DMA near 980 odd. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
4 days ago
- Business
- Mint
Stock Picks: Sagar Doshi suggests Chennai Petroleum, LTIMindtree, Zydus Life shares to buy in a muted market today
Stock market today: India's main stock indexes started the day relatively unchanged on Wednesday, as investments in large block transactions and the primary market balanced out the benefits from positive global sentiment. The Sensex dropped by 200.32 points to reach 81,351.31 in early trading, while the Nifty 50 fell by 61.2 points to settle at 24,765. Market analysts observed that encouraging signals from the US markets, a weak dollar, and lower gold prices will create a favourable macroeconomic environment for the equity markets today. The MPC is highly likely to reduce policy rates by 25 basis points during the policy meeting on June 6th. As a result, rate-sensitive sectors will be in focus in the upcoming days. Sagar Doshi of Nuvama recommends Chennai Petroleum Corporation, LTIMindtree, and Zydus Lifesciences shares to buy today. Here's what Doshi says about the overall market. For the past 8 trading days, Nifty 50 has been static within a 2% band, however the highs of 25,000 has been constantly providing supply non index longs. Unless a closing above 25,050 is not confirmed, downside swing towards 24,300 / 24,100 remain open on the index. Nifty 50 has had a nearly 15% run up in the past 6 weeks without a 2% correction. With the price action seen from the start of this week, it is fair for the index to retest 200 DMA support on downside which currently reads below 24,100. Bank Nifty has broken from its 6 week rising trendline in last week's trading. This puts the index back on track to retest its polarity support of its original 5 year rising trendline. Targets for this breakdown hint for a 1,200-1,500 point breakdown from CMP. Negation for this down move is seen only when the index closes above 55,600. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Chennai Petroleum Corporation Ltd, LTIMindtree Ltd, and Zydus Lifesciences Ltd. After a bullish head and shoulder breakout on daily and weekly chart earlier this month, prices are consolidating after crossing the 200 DMA resistance on shares on Chennai Petroleum Corporation. This consolidation in a range is a typical price behaviour on this stock historically observed before another round of up move. A follow up move of 9-12% is likely to be unfolded post this monthly derivative expiry. After trading at a 3 year low in April, LTIMindtree share price has been rising within a channel and has gained 25% since its April lows. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTY IT index on a YTD basis which is down over 13% while LTIMindtree share price is down 8% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 5525. Zydus Lifesciences share price has closed at a 2 month high, after breaking out from a falling trendline earlier this month which was in place since August 2024. Repeated higher lows have been seen from the start of this month on daily charts, this 2 high note closing on charts is likely to allow further thrust on the stock for a resistance meet at its 200 DMA near 980 odd. 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.
Reuters
15-05-2025
- Business
- Reuters
Indian IT firm Persistent Systems drops after report that key client UnitedHealth faces criminal probe
May 15 (Reuters) - Shares of Persistent Systems ( opens new tab declined 3% on Thursday, the most among Indian IT services providers, after a media report said that key client UnitedHealth Group (UNH.N), opens new tab was under a criminal probe for possible Medicare fraud. The U.S. Department of Justice's healthcare-fraud unit is overseeing the criminal investigation, which focuses on UnitedHealth's Medicare Advantage business practices, the Wall Street Journal had reported. The company said it stood by the integrity of the program. UnitedHealth is one of Persistent Systems' top five clients and has an "over $100 million relationship" with the company, said Rahul Jain, an IT analyst at Dolat Capital. It was not clear how much of Persistent Systems' revenue is linked to UnitedHealth. The company did not respond to a Reuters email seeking comment. The stock was set for its worst day in one month and the biggest drag on the IT index (.NIFTYIT), opens new tab, which was up 0.4%.
Reuters
05-03-2025
- Business
- Reuters
Indian IT firm Coforge soars on $1.56 billion deal with Sabre
March 5 (Reuters) - Shares of India's Coforge ( opens new tab jumped as much as 10% on Wednesday, a day after the IT services provider signed a 13-year partnership with U.S.-based travel bookings provider Sabre Corp (SABR.O), opens new tab. The stock was up 9.1% as of 10:44 a.m. IST, on track for its second-highest percentage gain so far in 2025, and was the top percentage gainer on the IT index (.NIFTYIT), opens new tab which was trading 2% higher. The deal, Coforge's largest ever, not only provides greater revenue growth visibility for fiscal year 2026 but will also improve its positioning in the travel vertical, analysts at Jefferies said. Coforge on Tuesday said that the deal positions it as "a key partner in furthering Sabre's ability to accelerate product delivery and launch artificial intelligence-enabled solutions," without providing specific details. Valued at $1.56 billion, the deal is significantly bigger than Coforge's fiscal year 2024 revenue of $1.05 billion. "Being able to win against larger peers is quite commendable and should lead to more such deal wins in the future," Jefferies said. Macquarie analysts said that the deal suggests Coforge is able to convince customers to award it significantly bigger deals than normal, implying that clients deem the company as "a safe pair of hands." The deal would likely bring in annual revenue of $140 million to $150 million in the initial years, they said. Morgan Stanley analysts called the deal value "much higher than expected". Coforge is among only four stocks rated "buy" on average in the 10-member IT index, same as larger peers Infosys ( opens new tab and TCS ( opens new tab, per data compiled by LSEG. However, the stock has lost 10% so far this year, compared to a 12% decline in the IT index, which has been pressured by concerns over tariffs under U.S. President Donald Trump's administration. ($1 = 87.1525 Indian rupees)
