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When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

Infosys shares surge as Q3 results beat expectations. While FY24 revenue growth guidance was tightened, analysts are betting that Q3 was the bottom for the earnings downgrade cycle for the IT major. We expect growth to accelerate in FY25 on account of the ramp-up of large deals, strong deal pipeline and expected recovery in discretionary spending, said Emkay Global.

On the weekly options front, the maximum Call OI is placed at 21700 strikes and then towards 22000 strikes while the maximum Put OI is placed at 21000 strikes and then towards 20800 strikes.

TCS numbers better than estimates, order book lower than expected. North American market and BFSI facing challenges. Commentary on client decision making, budgeting cycle, and pricing critical. Headcount reduced, campus hiring still a focus. AI and AI.cloud-led demand driving sector growth. Resilient stock pick in midcap IT space: ER&D and platform product companies with growth in AI and mobility platforms.

Brokerage firm InCred upgraded Infosys to an ADD post Q3 results, Morgan Stanley also upgraded TCS to overweight post Q3 results, Axis Capital maintained an ADD rating on Polycab and Jefferies has a buy rating on Macrotech Developers.

On the technical charts, the RSI of the stock stood at 61.03.

Sandip Agarwal says: “This quarter, the IT companies will show a slight beat in margin. In the next quarter, thereshould be a bigger beat in margin followed by even further better margins in the first half of FY25. We will have good margins to start with followed by good revenue growth.”

A total of 1,955 shares changed hands on the counter till 10:46AM (IST)

Astral Ltd. key Products/Revenue Segments include Plastic Products and Other Operating Revenue for the year ending 31-Mar-2023.