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Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 143416.23 Crore) operating in IT Software sector.

Promoters held 45.25 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 17.03 per cent and 19.35 per cent, respectively.

Stocks that were in focus include names like Adani Green, which fell 7.75%, Nestle, which declined 2.5%, and Tech Mahindra, whose shares rose 0.44% on Thursday.

Companies like Aarti Drugs, Amber Enterprises, Bandhan Bank, Cholamandalam Investment, City Union Bank, ESAF SFB, Equitas SFB, Mangalam Organics, Piramal Pharma, TTK Prestige among others will also declare their results.

The fund house’s market share in total AUM fell marginally to 5.27% during the quarter from 5.76% in the previous year.

The market returns will revert to what the corporate earnings growth rate is and I do believe that corporate earnings long-term growth rate should be about 14% or so in India and that is what a good long-term investor in the market should get, says Rashesh Shah, Chairman, Edelweiss Group.

Oil prices saw minor increases on Friday due to stronger U.S. economic data, raising hopes for higher crude demand. However, economic concerns in China and Japan limited gains. Brent crude rose by 7 cents to $82.44 per barrel, and U.S. West Texas Intermediate increased by 4 cents to $78.32 per barrel.

Swedish private equity firm EQT AB sold its entire 7.89% stake in RBL Bank, amounting to 4.78 crore shares, in a bulk deal worth ₹1,091.15 crore on the BSE. The shares, sold through its entity Maple II B V at ₹228.08 per share, were acquired by Morgan Stanley’s Asia Singapore PTE and Societe General for ₹285.12 crore and ₹161.74 crore, respectively. RBL Bank shares closed 2.95% down at ₹230.4 on Thursday.

Net issuances of the sovereign gold bonds (after factoring in redemption) are now pegged at ₹15,000 crore in this fiscal, against ₹26,138 crore in the interim budget and ₹25,352 crore in 2023-24 (revised estimate). Harish Galipelli, director at ILA Commodities India, said a growing number of retail investors are now parking their investible surplus in equities, anticipating better returns.