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Demand for affordable and priority housing segments has declined due to higher costs, while mid and upper segments continue to show growth. The pandemic has led to an increased aspiration for larger homes, with new projects launching slightly larger 1 BHK and 2 BHK apartments. However, increasing property prices and interest rates have resulted in a cumulative increase in the cost of owning a home by nearly 28-30%, with affordability shrinking by 15%.

The company’s presence in niche sub-verticals of BFS, Insurance & TTH, consistent deal wins, lower attrition and lower client concentration distinguish it from peers, according to the brokerage.

From the Sensex pack, M&M and HCL Tech were the top gainers, rising over 1%. Bajaj Finance, HDFC Bank, HUL, Tech Mahindra, Bharti Airtel and Tata Motors also opened with gains. On the other hand, Reliance, IndusInd Bank, SBI and Axis Bank opened with cuts.

Adani Enterprises and Adani Ports, part of the flagship Nifty50 index, were the top gainers in the pack. Adani Enterprises traded at Rs 1,618, up 1.09% while Adani Ports rose 1.5% to Rs 602.25. On the other hand, Adani Green Energy, Adani Transmission and Adani Total Gas were locked in their respective 5% lower circuits.

The interest rate hike of EPF from 8.1% to 8.15% is in the interest of subscribers, although it is not substantial. Depending on the balance, subscribers will receive an extra rate of interest. However, EPF should not be the only investment instrument, and diversification of portfolio is essential. Comparatively, the interest rate is reasonable, but investing in NPS or mutual funds may help accumulate wealth as they have potential to deliver higher returns.

Promoters held 11.45 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 44.81 per cent and 32.26 per cent, respectively.

A total of 5,933 shares changed hands on the counter till 10:20AM (IST)

Tata Consultancy Services Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1141733.80 Crore) operating in IT Software sector.

Following weeks of volatility in the market after the unexpected failure of two U.S. banks and the rescue of Credit Suisse in Europe, investor nerves were calmed this week by the sale of assets in collapsed lender Silicon Valley Bank and no new signs of further stresses in the banking system.

The price has made a Lower Top Lower Bottom Pattern during this correction. In the current week, the price breached the previous 52-week low of 197 and corrected further to make lows of 186 odd levels with high volumes.