Money control pro9/12/2023 ![]() ![]() Here’s what you can expect from the Moneycontrol App. Get expert’s views, in-depth coverage and analysis of the financial markets with live streaming of CNBC AWAAZ (Hindi), CNBC BAJAR (Gujarati) and CNBC PRIME HD. Stay updated with the wide range of news covered in our News and Personal Finance sections. Monitor your investments with Portfolio and Watchlist. It covers multiple assets from BSE, NSE, MCX and NCDEX exchanges, so you can track Indices (Sensex & Nifty), Stocks, Futures, Options, Mutual Funds, Commodities and Currencies with ease. Track the latest updates on Indian and Global financial markets on your smartphone with the Moneycontrol App. Technical Picks: Crude oil, ICICI Prudential Life Insurance Company, Fino Payments and Rallis (These are published every trading day before markets open and can be read on the app).Moneycontrol App is Asia's #1 App for Business & Finance. When a market leader is in blues, entire sector gets painted in the same shade: Ashwin Damera of Eruditus Green Policy: Biden deploys Pentagon to beat climate change and China Stagnant Britain should stop pretending it is a rich country NDA’s narrative and ‘alliances’ are ready. Sustainable Finance: No longer an option but imperative for lenders & borrowers ![]() Mohamed El-Erian: Blaming wage growth for inflation is misleading and dangerous (republished from the FT) India must make haste in securing finance to gain edge in critical minerals Why sovereign gold bonds have become a preferred financial asset India’s youth is key to steer firms towards sustainable supply chains What they don’t tell you about Artificial Intelligence Three banks' earnings reinforce some cliches, break others Pro Economic Tracker | Consumer sentiment brightens, power consumption dims Navneet Education is set to lead the education makeover Rallis India: Long-term story is not disturbed by near-term headwinds HDFC Bank posts healthy Q1 FY24, likely to stay with the show post merger KVB Q1 FY24: What after the recent stellar run? Investing insights from our research team While that calls for investor caution, thanks to strong inflows into equity markets, the NSE IT index is reflecting no such concern-it is up 8.5 percent so far in FY24. With client spending remaining constrained, IT companies are scaling back on hiring and are preparing for a subdued FY24. That did not come through in the said quarter. ROI is return on investment.Īs turmoil in the US banking sector receded, IT companies had expected an improvement in project execution in the June quarter. “While the demand is still good, we are winning new deals, but clients are reviewing the projects under way, and wherever the ROI is not very strong, the next phase of the project is getting paused,” K Krithivasan, Chief Executive Officer and Managing Director, TCS, said in a call. As existing projects reach closure, customers are taking a longer time to decide on incremental spends and investments. TCS has indicated near-term volatility and pullback in discretionary projects and customer spends.Īmid the economic uncertainty, clients are reducing discretionary spends, delaying project start dates and ramp-ups, the management of LTIMindtree said in an earnings call. Wipro’s mid-point guidance implies a reduction in constant currency revenues in the September quarter. However, as subdued June quarter results illustrate, the order book and project pipeline are not converting into revenues at an expected pace. Check out our Chart of the Day on the trend in traditional IT services' contract awards. The company, along with Tata Consultancy Services (TCS) and Wipro, has also reported decent order inflows in June quarter. Note that LTIMindtree, similar to other frontline IT services companies, has begun the FY24 with a good orderbook. Read our Research Team’s take on LTIMindtree’s results. It reported a modest expansion in June quarter revenues - up just 0.1 percent. The stock dropped in Tuesday trading after the company backtracked on its double-digit growth guidance for FY24 - of at least a 10 percent rise in revenue. Take the case of LTIMindtree, the latest entrant into the Nifty 50 index. But their near-term revenue outlook continues to remain soft or challenging. Companies are winning new orders and are even seeing a healthy project pipeline. ![]() Investors in IT services stocks are contending with two contrasting facts. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. ![]()
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