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Sorbh Gupta- Fund Manager for Equity at Quantum AMC said he is positive on the IT sector. Gupta said the recent correction in the sector due to recessionary fears are overdone. The order books and deal pipeline of IT companies are healthy, he said, adding that the cost pressure on the talent side is easing, supported by softness in the startup ecosystem.

Bharat Electronics Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 65398.15 Crore) operating in Defence sector

The S&P BSE Sensex rose more than 200 points while the Nifty50 inched closer to 16,700 levels in the first 15-minutes of trade. Sectorally, buying was seen in banks, finance, auto, consumer durables, and realty stocks.

Arun Malhotra of CapGrow Capital Advisors says valuations have become reasonable as both time and price correction has happened. Stocks like HDFC and Kotak Mahindra Bank in the financial sector are back to price levels that existed before Covid, while the profits have risen by more than 40 per cent.

“When we look at our own indicators of economic recession, over the next 6 to 12 months, that list is starting to flash more and more warning signs. There is a good chance that we will end up facing more of a broad-based economic recession and not a technical recession which we might have experienced already, but a genuine one where we see the labour market starting to weaken.”

Among Sensex stocks, Kotak Mahindra Bank advanced 1.57 per cent to Rs 1,829.05. Reliance Industries added 1.09 per cent to Rs 2,514.50 ahead of its quarterly earnings. UltraTech Cement, ICICI Bank and Maruti Suzuki rose 1 per cent each. SBI, Nestle India, Bajaj Finserv, Hindustan Unilever and HDFC added up to 1 per cent.

“The kind of fear which was there in May, June is not there at this point of time and that certainly is positive. And maybe it is time to get specifically focussed on stocks which should do well over the next few quarters or so. Overall market risk seems to be gradually falling.”

The insolvency law classifies creditors such as those providing goods and services to a company as operational creditors.

"The details, conditionality and what would justify activation was vague and did little to inspire confidence in light of the Italian political situation," Tapas Strickland, a markets economist at National Australia Bank, wrote in a note. He added that the widening spread between Italian and German government bond yields reflected greater political risk and the euro had similarly retreated from its post-ECB meeting peak at $1.0279.

Investors are expecting the slowest-ever pace of growth for social media ad revenue this year, as rising inflation and other economic woes cause brands to slash their marketing budgets.