Thu, Feb 22, 2024 3:24 PM
TCS shows bullish engulfing pattern as IT stocks drive markets into green
A Flip by Shubhangi Gupta
LKP Research's research report on Mahindra and Mahindra: M&M’s net revenues increased by 13% yoy, driven by (1) 1% yoy increase in volumes and (2) 12% yoy increase in ASPs. M&M’s standalone Q2 FY25 EBITDA of ₹39.5 bn (+29% yoy and -2% qoq), was slightly below street estimates due to higher-than-expected other expenses, partly offset by better gross margins.
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On Thursday, Indian indices likely to open flat. The GIFT Nifty was trading at 23,629.5 this morning. At close on November 13, the Sensex dropped 984.23 points, or 1.25%, to 77,690.95. The Nifty slipped 324.50 points, or 1.36%, to 23,559. Asian markets moved higher on Thursday, lifted by U.S. inflation data that added to hopes for another Federal Reserve rate cut next month.
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Morgan Stanley, Societe Generale and another entity on Wednesday picked up a total of 1.77 crore, or 6.82% stake, of PNB Housing Finance through open market transactions worth Rs 1,664 crore. According to bulk deal data available on NSE, Morgan Stanley through its arm Morgan Stanley Asia Singapore purchased over 1.42 crore shares or a 5.4 per cent stake in PNB Housing in two transactions.
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