Thu, Jan 18, 2024 4:00 PM
Around 60% Indian companies looking for new board director: Report
A Flip by Avya Verma
Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore. The startup is likely to commence operations in the next three months. "We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million," Mitra -- one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned.
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From the heady days of the pandemic-triggered digital boom, to the current slowdown due to growth headwinds in the West, the country’s $250-billion IT sector has traversed a full cycle over the past few quarters. Elevated interest rates and weak consumer sentiment in the US and Europe—the bread-and-butter markets for India’s software services exporters—have wreaked havoc on the sector performance.
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On the daily chart, a dark cloud cover pattern is observed, indicating a potential bearish reversal. Stocks to buy: 📌Housing And Urban Development Corp Ltd: Buy at ₹227 | Target price: ₹250/260 | Stop Loss: ₹214 📌Deepak Nitrite Ltd: Buy at ₹2450 | Target price: ₹2600/2800 | Stop Loss: ₹2300 📌City Union Bank Ltd: Buy at ₹160 | Target price: ₹175/185 | Stop Loss: ₹150
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