Stocks to watch today: Shares of brokerage firms Angel One and ICICI Securities are also likely to be in focus ahead of the corporate earnings on Wednesday.
Among Indian firms, Edelweiss feels that Cipla (respiratory) and Sun Pharma (specialty) are better placed to tide the price erosion
Buoyed by broadbased growth across verticals and geographies, firm posts strongest revenue addition for the fiscal, up nearly 32% YoY; attrition at 24% rises marginally QoQ
Outlook for the IT sector has changed considerably
CLOSING BELL: Reliance Industries (RIL; up 3.5 per cent) was the top gainer on the 30-pack index. he draggers on the index were HDFC (down 6 per cent), HDFC Bank (down 4.2 per cent)
With Monday's 1.7% fall, the Nifty has shed nearly 6% from its recent high. As rising bond yields and weak earnings' outlook cloud sentiment, here is what the market's near-term trajectory looks like
Besides weak earnings, investors had to digest negative macroeconomic data on the inflation and GDP outlook front
The Mindtree management declined to comment on reports of a likely merger with group company Larsen & Toubro Infotech.
CLOSING BELL: Dismal March quarter earnings by HDFC Bank & Infosys, coupled with fears of aggressive rate hikes amid rising inflation, soaring bond yields, & resurgence in Covid-19 cases hit sentiment
ICICI Prudential Life Insurance seems to be headed towards the 200-DMA, while Infosys and HDFC Bank need to be monitored closely over the next few trading sessions.
The Q4 numbers and rising bond yields kept market sentiments subdued last week. Analysts expect the upcoming trading sessions to be volatile for equities as well because of global headwinds
The Infosys ADR has declined over 9 per cent in the last two trading session in the US market, while our market was shut for trade, post Q4 results.
TCS & Infosys report average Ebidta margin of 27.6%, down from 30.1% last year
The company had posted a consolidated net loss of Rs 4.66 crore in the same period a year ago, Oriental Hotels Ltd said in a regulatory filing
In terms of top line growth, Infosys was ahead of TCS, the country's largest software services firm
CLOSING BELL: HDFC, HDFC Bank, Maruti Suzuki, Dr Reddy's Labs, Tata Motors, PowerGrid, Asian Paints, Bajaj Finserv, Kotak Bank, Titan, Cipla, and Eicher Motors were the top laggards on the Nifty index
HDFC Bank's non-interest income is expected to take a hit due to lower treasury income
Growth in the quarter has largely come from store additions
Most analysts have broadly maintained their 'buy' rating on the stock as they believe the company's demand outlook for FY23 remains robust despite macro-headwinds.
Analysts expect the Bengaluru-based firm to post flat-to-negative EBIT margin due to higher attrition, lower utilisation, and rising travel expenses.