Tag: IT stocks

TCS likely to buyback shares to boost shareholder returns

Tata Consultancy Services will consider a proposal to buy back its shares from the market as the software developer seeks to put a floor under its stock and stave off criticism from activist shareholders seeking a better return on their investment. TCS, sitting on a cash pile of more than Rs.29,000 crore, informed the exchanges on...

February 16, 2017

Nifty snaps 2-day fall; TCS buyback plan fires up Infosys

Bulls resurfaced with a vengeance on Thursday as investors bought into front line pharma and software counters in anticipation of more gains ahead. Sentiment changing for the better after giant Tata Consultancy Services announced a plan to consider buying back its shares. The Nifty added 51 points to close at 8,775 points snapping a two-session decline. Stocks...

February 16, 2017

Nifty snaps 2-day fall; TCS buyback plan fires up Infosys

Bulls resurfaced with a vengeance on Thursday as investors bought into front line pharma and software counters in anticipation of more gains ahead. Sentiment changing for the better after giant Tata Consultancy Services announced a plan to consider buying back its shares. The Nifty added 51 points to close at 8,775 points snapping a two-session decline. Stocks...

February 16, 2017

Nifty snaps 2-day fall as software stocks surge on buyback rumours

Stocks resumed their upward climb on Thursday as traders beat back a 2-day decline in prices and investors focussed their buying energies on large cap software companies in anticipation of a potential buyback by managements. The Nifty rose 26 points to 8,751 points in the first two hours of trade on the National Stock Exchange. The index...

February 16, 2017

Nifty snaps 2-day fall as software stocks surge on buyback rumours

Stocks resumed their upward climb on Thursday as traders beat back a 2-day decline in prices and investors focussed their buying energies on large cap software companies in anticipation of a potential buyback by managements. The Nifty rose 26 points to 8,751 points in the first two hours of trade on the National Stock Exchange. The index...

February 16, 2017

Sensex, Nifty inch up in morning trade

Snapping two-days losing streak, domestic equity markets started Thursday’s trading session with marginal gains. At 9.50 am, the Sensex at the BSE was trading 30 points higher at 28,186 and the Nifty at the NSE was trading five points up at 8,730. In the broader markets, BSE Midcap and Smallcap indices increased around 0.1 per...

February 16, 2017

Sensex, Nifty inch up in morning trade

Snapping two-days losing streak, domestic equity markets started Thursday’s trading session with marginal gains. At 9.50 am, the Sensex at the BSE was trading 30 points higher at 28,186 and the Nifty at the NSE was trading five points up at 8,730. In the broader markets, BSE Midcap and Smallcap indices increased around 0.1 per...

February 16, 2017

Nifty closes above 8,800; IT stocks shine

Amid positive Asian and European markets, domestic benchmark indices held previous gains and closed Monday’s volatile trading session on a marginally higher note. The Sensex at the Bombay Stock Exchange (BSE) ended 17 points higher at 28,352, and the Nifty at the National Stock Exchange (NSE) closed 12 points up at 8,805. However, broader markets...

February 13, 2017

Sensex, Nifty close marginally up; IT stocks shine

Despite positive global cues, domestic bourses closed Friday’s trading session on a flat note. The Sensex at the Bombay Stock Exchange (BSE) ended five points higher at 28,334, and the Nifty at the National Stock Exchange (NSE) closed 15 points up at 8,794. In the broader markets, BSE Midcap index declined 0.3 per cent but...

February 10, 2017

Sensex, Nifty trade flat ahead of budget; IT stocks decline

Indian equity markets traded flat in the early morning trade on Wednesday as investors remained cautious ahead of the Union Budget to be tabled later during the day. At 9.50 am, the Sensex at the BSE was trading 13 points higher at 27,669 and the Nifty at the NSE was trading three points up at...

February 1, 2017

Nifty drops for 2nd session ahead of budget as Trump plays visa card

Indices fell for a second session as sentiment took a massive hit on the US President's move to curtail outsourcing of jobs to cheaper destinations. The move saw export oriented software stocks tumble on fears of loss in revenue and higher visa costs. Stocks also consolidated ahead of the union budget to be presented on February 1st and...

January 31, 2017

Sensex, Nifty close down ahead of budget; IT stocks tumble

Ahead of Union Budget 2017, domestic equity markets extended Monday’s gains and closed Tuesday’s trading session on a lower note with IT stocks declining the most. The Sensex at the Bombay Stock Exchange (BSE) ended 194 points down at 27,656 and the Nifty at the National Stock Exchange (NSE) closed 71 points lower at 8,561....

January 31, 2017

Nifty slips 55 points; IT stocks lead losers

Indian indices slipped for the 2nd session on Tuesday, driven lower by a sharp fall in IT stocks as adverse changes in H1-B visas hit sentiment on the sector. Stocks are also taking a breather ahead of the union budget to be presented on February 1st. The Nifty dropped 55 points to 8,577 points as traders partially...

January 31, 2017

TCS leads software stocks lower as Trump boubles H1-B visa costs

Tata Consultancy Services led the entire software sector sharply lower after the US tweaked a rule governing H1-B Visas, making it difficult for Indian companies to do business in the world's largest software market. US President Donald Trump, fighting to protect US jobs, doubled the salary requirement for H1-B visas, which allow low paid Indian...

January 31, 2017

Infosys hits 4-week lows; ONGC shines in flat trade

Stocks see-sawed amid low volumes on Friday as traders hesitated to extend positions ahead of the weekend and before the crucially important US Payrolls data. There wasn't much action either in European equities or in the US index futures markets, prompting investors to take it easy. Thick selling action, however, was concentrated on the software sector, which...

January 6, 2017

Sensex, Nifty close down; IT stocks plunge

Shaving off initial gains amid lower opening of European markets and profit booking, domestic bourses closed last trading session of the week in the negative zone. The Sensex at the Bombay Stock Exchange (BSE) ended 119 points down at 26,759, on Friday, and the Nifty at the National Stock Exchange (NSE) closed 30 points lower...

January 6, 2017

Infosys, TCS, Wipro lead software sector lower in flat market

Indian stocks fell victim to weak overseas cues on Friday as traders and investors digested the previous session's sharp rally. Heavy sales on IT stocks, in particular, and media and real estate companies negated modest gains elsewhere. The top five losers on the Nifty were export oriented software stocks — Tech Mahindra, HCL Technologies, TCS, Infosys and...

January 6, 2017