ADRS SLUMP
Mid and smallcaps get the money as Nifty lags
Investors are increasingly bullish on mid and small-cap stocks, reflecting a notable shift in market sentiment. The Advance-Decline Ratio has shown resilience for the past two months, leading to record highs in midcap and smallcap indices. Meanwhile, large-cap stocks are grappling with foreign selling pressure, suggesting that mid and small caps may continue to shine in the near future.
Wipro, Infosys ADRs fall over 2% after TCS reports Q4 results. What to expect on Friday?
ADRs of Wipro and Infosys declined after Tata Consultancy Services reported steady Q4 results with strong deal wins and rising AI revenue. Despite stable performance, investor reaction signals cautious sentiment and a muted market opening for IT stocks.
RBI soothes worries over governance at HDFC Bank
The Reserve Bank of India stepped in to assure markets about HDFC Bank's governance following the unexpected resignation of its part-time chairman, citing "values and ethics." Despite the RBI's statement, the bank's stock experienced a significant intraday fall, contributing to broader market declines. Management stated they had no insight into the chairman's reasons for leaving.
Infosys ADRs tumble 5%, Wipro slips over 3% as Wall Street rattled by inflation data and AI fears
Infosys and Wipro ADRs tumbled on the NYSE amid AI-driven fears and higher-than-expected US wholesale inflation. Block's CEO Jack Dorsey announced significant workforce reductions, citing AI's potential to enable smaller teams to achieve more, a move that boosted Block's stock. European markets mostly mirrored the pessimistic sentiment.
Stocks in news: SpiceJet, TCS, Infosys, Coal India, Hindalco
Indian markets closed lower on Thursday due to a sharp correction in IT stocks. Despite supportive global and domestic factors, the IT pack's weakness temporarily impacted investor sentiment. Analysts suggest limited downside potential due to strength in other sectors. Key companies like SpiceJet, TCS, Infosys, Coal India, and Hindalco were in focus due to their Q3 results and news developments.
Infosys ADRs plunge over 7%, Wipro down 5% as tech turbulence deepens on Wall Street
Infosys’ American Depositary Receipts (ADRs) slumped more than 7% on Thursday, touching an intraday low of $14.59 in early trade, while Wipro’s ADRs fell 5.4% to $2.26. The sharp decline follows a steep sell-off in IT stocks on Indian exchanges, with weakness spilling over to Wall Street.
- Go To Page 1
Infosys ADR slumps 3% on Q4 miss, softer FY25 guidance
"Infosys weak quarterly numbers, lower-than-expected guidance for FY25 and declining headcount reflects continuity in weak, with the only silver lining being strong large deal TCV in Q4 and record $17.7 billion in FY24," said Sanjeev Hota, Head of Research, Sharekhan by BNP Paribas.
ADRs of Wipro, Infosys slump as Accenture cuts guidance on clouded outlook
The IT industry has been grappling with sluggish demand for software and consulting services as high interest rates discouraged enterprises from discretionary spending.
HDFC Bank drops 8.4% on margin worries
"Since HDFC Bank is a darling of the market, the expectations were higher and the lower delivery led to harsh reactions," said Siddhartha Khemka, head of research at Motilal Oswal Securities.
More pain ahead? HDFC Bank ADRs slump 8% after leading a carnage on D-Street
The stock recorded its biggest fall on D-Street in over two years, leaving a dent of Rs 1 lakh crore after the company's third-quarter results failed to impress investors. Following the disappointment in December quarter results, a number of brokerages have reduced their target prices. However, it remains a top buy in the long term for many.
China stocks hit new low this year as investor confidence remains depressed
Data on Wednesday suggested the economy is stabilising, but analysts and investors are still concerned if the economy has truly bottomed out, with the property sector mired in a deep contraction.
Stocks in news: Quick Heal, Infosys, Wipro, Adani Green, SBI Life, Uno Minda, Emami
American venture capital firm Sequoia Capital has exited Quick Heal Technologies Ltd, by selling its entire 3.4% stake in the company through the open market on Thursday.
Infosys, Wipro ADRs slump on NYSE as Accenture offers bleak growth outlook
Accenture, which released its earnings for the three months ended August, guided a meagre 2-5% growth in annual revenue in the backdrop of a subdued business environment for IT services.
Infosys ADRs slump 11% after drastic cut in FY24 revenue guidance
The Bengaluru-based software major has reported 11% year-on-year growth in net profit at Rs 5,945 crore for the quarter ended June. The profit is lower than the ET Now Poll estimate of 6,150 crore. Infosys’ earnings remained muted on a sequential basis in the June quarter, given a significant slowdown in business amid global macroeconomic headwinds.
Stocks in news: Infosys, HDFC Bank, ZEE, Angel One, Brightcom
Infosys has reported a weak set of numbers for the fourth quarter as its revenue in constant currency terms slumped 3% sequentially. The operating margins were also under pressure at 21%. Following the results, Infosys ADRs on Thursday slumped nearly 9%. The stock is likely to react negatively on Monday
Infosys ADRs slump nearly 9% on NYSE on weak Q4 numbers, subpar guidance
ADRs of Infosys are currently trading 8.51% lower at $15.62. A poll by ET Now had expected Infosys to clock a profit of Rs 6,550 crore and revenue at Rs 38,850 crore
Tech firms lead China share rout after SEC hints at delistings
Companies on the SEC list led the slump on Friday. Yum China Holdings, Zai Lab, HUTCHMED (China) Ltd and Beigene Ltd fell between 10% and 16%. In Shanghai, shares of ACM Research Shanghai Inc were down 10%.
GMO’s Jeremy Grantham throws weight behind Infosys, ICICI Bank
Grantham’s hedge fund GMO bought substantial American Depository Receipts of ICICI Bank and Infosys during the December quarter, at a time when investors have turned optimistic on the prospects of the two companies.
Top stocks in focus on Tuesday, 13 June 2017
US Fed’s meet will loom over the market while poor IIP numbers may kill feel-good factor.
Adani Ports slumps 12%; mcap down by Rs 5,849 crore
Shares of Adani Ports and Special Economic Zone today slumped 12 per cent, wiping out Rs 5,849 crore from its market valuation, as concerns over its margins.
Bihar elections, inclusion of HK-China ADRs in MSCI weighing on market: Prashastha Seth
Concerns over whether India’s weightage will fall post the inclusion of China ADRs in MSCI indices is hurting mood, says Seth.
ONGC disinvestment unlikely this financial year
The govt on January 30 sold ten per cent stake in Coal India through an offer for sale and raised Rs 22,558 crore, close to one-third of which came from FIIs.
Hotel business to stay sluggish in 2015 despite 10% increase in demand of hotel rooms
Rates will improve this year, but growth will be subdued till October 2017. That is when the hospitality industry will be buoyant again.
Indian ADRs shed $2 bn in a week, ICICI Bank loses most
Indian entities listed on US bourses lost $2.02 bn from their total m-cap, with ICICI Bank alone shedding $2.14 bn from its valuation to $28.83 bn.
HDIL to raise Rs 3,000 cr; Q1 net up two-fold
With the revival of the property market, Mumbai-based realty firm HDIL today said it plans to raise around Rs 3,000 crore from the capital market to meet its long-term capital requirement.
China IPOs fail 'trust' test on Wall St
Chinese cos record longest slump in five years. Shares fell an average 4.8% in their first month of trading on US stock exchanges in the last quarter, with losses deepening to 6.7% for firms that made debut in Jan and February.
Wipro ADRs slide 7% on NYSE; shares jump over 3% on BSE
Shares of Wipro slumped seven per cent on the New York Stock Exchange on Thursday even as the IT major jumped over 3 per cent on the domestic bourses, amid reports of the company's likely launch of USD 1 billion sponsored ADR issue.
Banking stocks may open lower following drop in ADRs
Indian banking stocks are likely to open lower Thursday, following a drop in their ADR prices. On Wednesday, ICICI Bank ADR slipped 2.52 per cent and HDFC Bank ADR price dropped 2.72 per cent.
IT stocks tumble on slump in ADRs, strong rupee
IT stocks fell on Friday tracking a slump in the ADRs of IT companies in US markets on Thursday.
Load More
