Following news that Tehran is prepared to give up its nuclear program, the major stock indices Sensex and Nifty recovered on Thursday, ending a three-session losing skid. Over the preceding three sessions, both indices had declined by almost 4%. At 80,092.06, the Sensex increased 975.88 points, or 1.23 percent. The whole Nifty increased 323.65 points,…
A survey released by the India Electronics and Semiconductor Association (IESA) projects that the semiconductor market in India will reach $103.4 billion (₹9 lakh crore) by 2030, up from $52 billion (₹4.5 lakh crore) in 2024. Mobile phones, IT, telecom, consumer electronics, automotive, aerospace, and defense are some of the major businesses driving this expansion….
Due to foreign institutional investor (FII) withdrawals, global cues, and a declining rupee, the share market experienced a significant decline in late afternoon trading on Monday, with the BSE Sensex finishing roughly 850 points lower from the day’s peak and the NSE Nifty closing below the 23,650 mark. The Sensex was down 450 points, or…
While the India IT services sector’s fiscal first quarter profits showed a wide rebound across all verticals and locations, suggesting stronger fiscal growth than the previous year, the industry continued to enjoy robust deal signings in August. “After recovering in the previous months, the 3M rolling sum of deal signings—a strong lead indicator of deal…
While the UK and Europe have been exceptions for Indian IT companies over the past few quarters, businesses could anticipate to face currency headwinds in the third quarter due to the pound and euro depreciating between 1% and 2% versus the US dollar. Indian IT companies, particularly those in the UK and Europe, have been…
IT giant Wipro, based in Bengaluru, announced on Tuesday that its Rs 12,000 crore share purchase plan will begin on June 22 and end on June 29. The board of the IT behemoth approved a plan in April of this year to purchase up to 26,96,62,921 equity shares from its owners, or 4.91% of its…
On Friday, Indian shares fell for the second consecutive day as a result of persistent profit-taking and a general decrease after the Reserve Bank of India hinted that tighter monetary conditions would linger. The benchmark S&P BSE Sensex dropped 0.35% to 62,625.6 while the blue-chip Nifty 50 closed 0.38% lower at 18,563.40. The benchmarks maintained…
During the months of January through March, Wipro’s net profit increased somewhat sequentially by 0.70% to Rs 3,074.5 crore, falling short of the Rs 3,129 crore Bloomberg consensus estimate. The period’s revenues, which were similarly less than the projection of Rs 23,460 crore, were down 0.16% sequentially to Rs 23,190 crore. The board of directors…
Foreign Portfolio Investors (FPIs) cut out over ₹20,000 crore from financial services and information technology (IT) sectors in last month, as they continued their selling of Indian equity shares for the seventh straight month. According to latest data, the financial services sector saw a net out flow of ₹12,891 crore in April while the IT…
