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.
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.
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.
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.
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
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.
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.
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.
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.
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