Wednesday, September 09
Shares of leading IT companies, Tata Consultancy Services (TCS) and Infosys, surged over 3% each on Monday after brokerages turned bullish. Investec upgraded Infosys to ‘Buy’ with a target of Rs 1,655, while JP Morgan raised TCS to ‘Overweight’ and hiked its target price to Rs 3,800 from Rs 3,650, according to a CNBC-TV18 report.TCS has lagged broader markets in recent years, with its trailing price-to-earnings multiple halving from 41x to 20x. Over the past five years, the company has posted a profit CAGR of 8.5% but its stock CAGR was only 6%.TCS fell by over 20% this year, but JPMorgan expects a recovery in the business from the second half of the financial year 2026.The long-term story of the IT sector remains intact. Indian IT has compounded at 12.5% annually over the past two
Nvidia Corp, already a $4.3 trillion giant that has doubled in value in just 16 months and looms larger than the stock markets of the U.K., China and Canada, could soon eclipse the entire Rs 5.21 trillion Indian equity market if its shares reach Cantor Fitzgerald’s new $240 price target.Fueled by its dominance in artificial intelligence (AI) chips, Nvidia last month became the first company to cross $4 trillion in market capitalization. Its market value is now only about $1 trillion below Japan’s Nikkei 225 index, the world’s second-largest stock market after the United States. The company also accounts for 4.94% of the MSCI All Country World Index, nearly matching Japan’s 4.97% share.Analysts turn even more bullishCantor Fitzgerald lifted its Nvidia target to $240 from $200 on Aug
Vikran Engineering, backed by The Wealth Company, Ashish Kacholia and Mukul Aggarwal, has raised Rs 232 crore from anchor investors ahead of its Rs 772 crore IPO that opens on Tuesday.The company informed the exchanges that it allotted 2,38,76,287 equity shares at Rs 97 apiece to a group of 14 anchor investors. The anchor book featured a mix of domestic mutual funds, insurance companies, global fund houses and alternative investment funds.Marquee participants included Nippon India Equity Opportunities Fund, 360 One Equity Opportunity Fund, Bank of India Mutual Fund, ITI Mutual Fund, SBI General Insurance and Bengal Finance & Investments Pvt Ltd. Domestic mutual funds collectively received 87.63 lakh shares, accounting for 36.7% of the anchor allocation.This comes after the company had
