Latest news with #Parekh
Mint
4 hours ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today despite Trump's tariffs on India
Buy or sell stocks: The Indian stock market endured a volatile trading session as market participants digested the implications of US President Donald Trump's imposition of a 25% tariff and punitive measures on India. The benchmark indices—Nifty 50 and Sensex—opened on a weak note, slipping nearly 1%, before staging a sharp intraday recovery to reclaim the 24,900 mark. However, renewed selling pressure in the final hour of trade dragged the indices back into negative territory. The Nifty 50 ultimately settled with a cut of 86.70 points, or 0.35%, at 24,768.35. Sectoral breadth was broadly negative, with all major indices ending in the red barring the Nifty FMCG index, which bucked the trend and gained 1.3%. The outperformance in FMCG names was driven by defensive buying amid heightened volatility and upbeat commentary from sector heavyweight Hindustan Unilever. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is cautious as the Nifty 50 index is facing a hurdle at 24,900. As Trump's tariffs on India have become effective today, the market is expected to react, and hence, 24,500 support and 24,950 resistance for the key benchmark index would be crucial. The Indian stock market is expected to trade volatily, and therefore, traders are advised to know their levels and take any decision on the break or breach of those levels. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index after opening on a weak note, witnessed a strong recovery to touch the 24,950 zone but resisted near the important 50-DEMA zone and fizzled out with heavy profit booking seen to close near the 24,750 level with bias and sentiment precariously placed as of now. As mentioned earlier, on the downside, the index has got the crucial support at the 24,500 level, which needs to be sustained to maintain the overall trend intact and at the same time, on the upside, it would need to breach above the 25,000 zone to improve the bias and expect further rise." The Bank Nifty index witnessed a decent recovery from the 55,500 level to scale the 56,400 zone, but saw resistance and slipped down to end just below the 56,000 level, with bias once again maintained with a cautious approach. The index is hovering below the important 50-DEMA zone of 56,100 and would need a decisive revival to move past the barrier, with overall bias precariously placed. "Major support is now positioned near the 100-period MA at 54,500 zone," said Parekh. Parekh said the Nifty 50 index's immediate support is at 24,600, while the resistance is at 25,000. The Bank Nifty's daily range would be 55,500 to 56,600. Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: Eternal (Zomato), Lloyds Enterprises, and Supreme Industries. 1] Eternal: Buy at ₹ 310, Target ₹ 323, Stop Loss ₹ 303; 2] Lloyds Enterprises: Buy at ₹ 84, Target ₹ 93, Stop Loss ₹ 80; and 3] Supreme Industries: Buy at ₹ 4323, Target ₹ 4600, Stop Loss ₹ 4200. US President Donald Trump signed a sweeping executive order on Thursday, imposing reciprocal 25% tariffs on Indian imports. The order became effective today as the Indian and US governments failed to reach a consensus on the India-US trade deal. Interestingly, India's neighbour, Pakistan, has signed a trade deal with the US, and the US government has imposed a 19% trade tariff on the Islamic state. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
a day ago
- Business
- India Today
Infosys to hire 20,000 freshers as TCS cuts 12,000 jobs in AI shift: Full story in 5 points
At a time when the IT industry is bracing for layoffs and 'workforce restructuring', Infosys has announced a rather different plan. According to the CEO, Salil Parekh, the company intends to hire 20,000 new graduates in 2025. The recruitment drive comes in stark contrast to the recent strategy of rivals such as Tata Consultancy Services (TCS), which is cutting around 2 per cent of its global workforce, a move that affects roughly 12,000 employees, and HCLTech, which has also hinted at similar on the other hand, is talking expansion, not contraction. The company is pinning this round of hiring squarely on its growing focus on artificial intelligence and the skills that go with to hire freshers amid industry layoffs: Story in 5 points-- Infosys is hiring new graduates Infosys CEO Salil Parekh said that the new intake is part of a deliberate investment in preparing the company for the next phase of AIdriven services. He pointed out that Infosys had already been ahead of the curve when it came to adopting AI. 'Our utilisation is running at a good level. All of the people that are joining us, are getting trained and deployed on projects. And the people across the whole company are at that high utilisation,' he said in an interview with CNBCTV18.-- Infosys' training Parekh also revealed that about 2.75 lakh employees have been trained in AI and related disciplines, part of an effort to ensure that the firm has the necessary skills to adapt to clients' changing contrast with TCS could hardly be sharper. While TCS trims its workforce to stay agile, Infosys is doubling down on talent, with no immediate plans for restructuring or layoffs.-- Decision comes in contrast to industry trendThis decision comes at a time when the IT services sector is in a state of flux. Microsoft, TCS, IBM, Intel are just a few names on the list of tech companies that are cutting jobs on a higher scale. While they say it is a part of company restructuring, it is clear that AI automation is now taking Infosys appears to see an opportunity where others see risk. By expanding, the company is betting that AI will not just change how software is built, but also improve efficiency across its portfolio. The company's internal data suggests these bets could pay off.-- Company's approach In an environment where 'being futureready' is often shorthand for reducing headcount, Infosys's approach is refreshingly contrarian. Rather than relying on job cuts, the firm hopes to futureproof itself by investing in new skills and by training its employees to be expects AI to bring a 5 per cent to 15 per cent boost to productivity in software development, and as much as a 20 per cent lift in efficiency within its Finacle core banking platform, according to the reports.-- Tech lay-offs The broader industry, however, remains under pressure. TCS has already confirmed plans to shed staff, while HCLTech has been frank about its intention to streamline for operational efficiency. Layoffs and reorganisations are expected to continue across many firms as they adapt to the twin pressures of client demands and fastmoving announcement, therefore, lands as something of a positive surprise. It suggests a belief that AI is more of a productivity engine than a threat to jobs – at least for now.- Ends
India Today
a day ago
- Entertainment
- India Today
Asha Parekh's dinner date with Waheeda Rehman, Helen: Cherished moments
Veteran actors Asha Parekh, Waheeda Rehman, and Helen recently enjoyed a dinner outing in Mumbai. Parekh shared a glimpse of their lovely evening through an Instagram post featured a picture of the trio, which Parekh captioned, "Jab we moments with people I love (sic)." The three actors have been friends for many years and continue to cherish their bond. advertisementAsha Parekh, known for her roles in films like 'Teesri Manzil' and 'Kati Patang', has had an illustrious career in the Indian film industry. Her recent dinner date with Rehman and Helen highlights their long-standing friendship, which has endured through decades in Bollywood. Last year, the three friends enjoyed a serene holiday in 2022, Parekh celebrated winning Dadasaheb Phalke Award with these very friends, marking the occasion by stating, "Celebration on winning of prestigious Dada Saheb Phalke Award with Helen and Waheeda (sic)."The photo was met with a warm reception from fans, who admire the enduring friendships between these legendary actors in Indian cinema.A fan wrote, "Three beautiful legendary icons in one you and immense gratitude to all three of you,for providing us with wholesome entertainment for decades,so much so that you all have raised the bar so high,that today's generation falls short tremendously (sorry to say this but it's true)..Warm regards (sic)."Delighted to see them together in one frame, an Instagram user commented, "It so wonderful to see women who made us love movies (sic).""Legend ladies together in one frame (sic)," wrote another often referred to as the 'Queen of Dance' in Bollywood, is known for her captivating dance performances and enigmatic screen presence. Her friendship with Parekh and Rehman has been a significant part of her life. They are often spotted together at events or on their Rehman, celebrated for her performances in classics such as 'Pyaasa' and 'Guide', was last seen in 2021 film 'Skater Girl'.- EndsYou May Also Like
News18
a day ago
- Business
- News18
Around 20,000 Freshers To Be Hired By This Major IT Company
Last Updated: IT giant Infosys plans to hire around 20,000 freshers this year, amid news of major layoffs in key rival TCS. Amid news of layoffs in rival TCS, Infosys CEO has confirmed the company's plan to recruit around 20,000 college graduates this year. 1/7 2/7 Speaking on the role of AI in shaping business models, Parekh said, 'AI allows for deeper automation and insights," but also requires 'higher-level skills and more effort." He reiterated that Infosys is continuing to expand its workforce, underscoring its long-term commitment to talent and technology. (Image: File Pic) Still, he emphasized the importance of human oversight in complex systems. 'Infosys Finacle, our banking platform, delivers around 20% productivity improvement by blending automation with human oversight," he said. (Image: File Pic) Addressing the topic of compensation, Parekh noted that Infosys had already concluded salary hikes for Q4 and Q1 of the last fiscal year. 'Now that this cycle is complete, we are beginning to evaluate the timing for the next round—as we do after every cycle. We will stick with our existing process and announce the next cycle at the right time," he added. (Image: File Pic)
Mint
a day ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy despite Trump's tariff on India
Buy or sell stocks: The key benchmark indices of the Indian stock market extended their corrective phase for the second consecutive session on Wednesday, following the recent steep sell-off. The Nifty 50 index opened on a firm note but faced resistance near the 24,900 mark, triggering profit booking that dragged the index to an intraday low of 24,772 during the mid-session. However, a late-stage recovery helped the index pare losses settle at 24,855, registering a modest gain of 34 points or 0.14%. On the sectoral front, pressure was evident in media, auto, and realty counters, which declined between 0.5% and 1%. Conversely, selective buying interest was observed in IT and FMCG pockets, with both indices ending marginally in the green, up around 0.3%. Broader market performance remained muted — the Nifty Midcap 100 ended flat, while the Nifty Small Cap 100 slipped by 0.5%, reflecting underlying caution among participants. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is cautious as the Nifty 50 index faces a hurdle at 24,900. After Trump's tariff announcement, the mood is expected to remain cautious. If the Nifty 50 sustains above 24,500, then we can expect some relief. Otherwise, there can be some panic selling if the key benchmark index slips below 24,500. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index witnessed a sluggish session with a rangebound movement for most of the session, finding resistance near the important 50-DEMA zone at the 24,900 level and would need a decisive breach above the 25,000 zone to improve the bias and expect further rise. On the downside, as mentioned earlier, the index has the crucial support at the 24,500 level, which needs to be sustained to maintain the overall trend intact." The Bank Nifty index witnessed a narrow range-bound session, with the 56,000 level sustained as critical support, and is awaiting the Fed's outcome to trigger a fresh directional move in the coming days. As said earlier, the index needs a decent revival to break past the vital hurdle at the 57,400 zone to trigger a fresh upward move in the coming days. In contrast, the 50-DEMA level near the 56,000 zone continues to act as an essential support zone, which needs to be sustained to maintain the bias intact," said Parekh. Parekh said the Nifty 50 index's immediate support is 24,700, while the resistance is 25,000. The Bank Nifty's daily range is 55,700 to 56,800. Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: VETO, FACT, and Havells India. 1] VETO: Buy at ₹ 127, Target ₹ 135, Stop Loss ₹ 123; 2] FACT: Buy at ₹ 965, Target ₹ 1000, Stop Loss ₹ 950; and 3] Havells India: Buy at ₹ 1525, Target ₹ 1585, Stop Loss ₹ 1500. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
