Latest Stock Market News

TCS Q3 Results: Emkay Global expects TCS shares to trend sideways to negative, with support at Rs 4,000 and Rs 3,900 and resistance at Rs 4,170-4,280. A buying opportunity is seen in the support band. A short build-up was noted, with open interest at $580 million, below its 1Y mean. Max OI is at Rs 4,200/3,800 strikes, with call and put additions observed.

Analysts from top brokerages are optimistic about key players in various sectors for the upcoming year. Bernstein initiated coverage on Swiggy with an "Outperform" rating, while Jefferies maintained "Buy" ratings for IndiGo and Indian Hotels, citing strong market positions and growth potential. Target prices reflect significant upside, supported by favorable industry trends.

The fact of the matter is that the sector has been out of flavour for a while and when we see the dollar index going up and the data points from China not being so supportive and this whole talk about the treaties being imposed and the stimulus, that is taking a much longer time to come through.

Bernstein highlighted that Swiggy is strategically placed to benefit from the shift towards super-fast delivery models in India’s fast-growing convenience economy, which currently has an 8% penetration and a total addressable market of $70 billion. The firm anticipates this segment will grow at a compound annual growth rate (CAGR) exceeding 50%.

Gold February futures contracts at MCX opened slightly higher on Thursday at Rs 77,942 per 10 gram, which is up by 0.25% or Rs 195 while silver March futures contracts were trading at Rs 91,261/kg, up by 0.36% or Rs 323.Gold prices surged by Rs 600/10 grams in this week so far while silver prices rose Rs 2,000/kg during this period.

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Nomura has downgraded Shree Cement from ‘Buy’ to ‘Neutral,’ setting a target price of Rs 28,000. Additionally, the firm has downgraded ACC and Nuvoco from ‘Neutral’ to ‘Reduce,’ with target prices of Rs 1,920 and Rs 330, respectively.

India Inc. is bracing for mixed Q3 results, with earnings growth expected to slow. Analysts predict a 2% Nifty EPS growth for FY25, with many companies facing challenges like sluggish demand, high input costs, and weak margins. Sectors like cement, oil and gas, and consumer goods are hit hardest, while financials, technology, and real estate are expected to show modest growth.

Borosil Renewables announced the 50% expansion in its solar glass manufacturing capacity.

The rupee fell to a record low of 85.92 against the US dollar due to a strong American currency and rising crude oil prices. Forex traders cited foreign fund outflows and subdued domestic equity markets. The 10-year US bond yields remained high, impacting the rupee. FIIs offloaded Rs 3,362.18 crore in the capital markets.