The Nifty IT index had shed 3% on Wednesday ahead of the US Fed policy decision. Here are the key pivot points to track on top IT stocks with potential upside and downside targets as per charts.
The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.
Strategic reboots and fresh opportunities drive broker upgrades for the two L&T subsidiaries
Technical Outlook: RECL, PFC can potentially rally up to 17 per cent from here on; while Birlasoft and LTIMindtree may witness a sharp fall, suggests technical charts.
Among individual information technology stocks, LTIMindtree led the charts, soaring 7.76 per cent intraday at Rs 6,198 per share on the NSE
LTIMindtree stock was buzzing in trade on the bourses. The stock rallied as much as 3.61 per cent to hit an intraday high of Rs 5,957 per share.
Q1 earnings impact: In the last two weeks, the NASDAQ has plunged 7 per cent, while the IT index has rallied 7 per cent. Trading strategies for Infy, TCS, HCL Tech and LTIMindtree here.
The share price rose after the company announced that it has secured mutli-million dollar contract extension from Absa Bank.
Debashish Chatterjee, chief executive officer and managing director of LTIMindree talks about the growth drivers
This strengthened partnership solidifies LTIMindtree's leadership in the banking, financial services, and insurance (BFSI) sector
MOFSL upgraded LTIMindtree to BUY with a target price of Rs 7,000 due to its superior offerings in data engineering and ERP modernization, positioning it well to capture the pre-GenAI expenditures.
Domestically, foreign institutional investors were net buyers on July 16, acquiring shares worth Rs 1,271.45 crore, whereas domestic institutional investors sold shares worth Rs 529.48 crore.
The company's first-quarter performance beat revenue but missed net profit estimates of Bloomberg
IT stocks outlook: TCS can potentially rally another 6 per cent from present levels; while Infosys, Wipro and LTIMindtree can rally up to 15%, suggest charts.
L&T group says at any point it faces workforce gap of 40,000-45,000 labourers and engineers
L&T Infotech and Mindtree officially merged in 2019, with A M Naik serving as its founder chairman.
When it comes to generative AI work, LTIMindtree has over 140 projects in production in this category
Stocks to watch on June 05: Deep Industries secured a letter of award from Oil and Natural Gas Corporation (ONGC), Kakinada, for hiring DPDU (GDU) for processing gas for 10 months
Chart check on May 27: LTIMindtree and Tata Technologies are the other two stocks seen trading above the higher-end of the Bollinger Bands on the daily scale on Monday.
IT company LTIMindtree on Tuesday said it has collaborated with American technology company IBM to establish a global, joint Generative AI Center of Excellence (CoE) for India. The centre will focus on building point solutions to accelerate clients' generative AI adoption journeys. According to a company statement, the CoE plans to offer a comprehensive suite of services, combining LTIMindtree's expertise in data and machine learning model customisation and full-stack engineering with IBM watsonx technology, including watsonx.ai, watsonx.data, and watsonx.governance, and AI assistants. "Our collaboration, distinguished by the Center of Excellence, is an opportunity for our companies to work closely together to help funnel the latest AI research and innovations into technologies solving real-world business challenges," Kate Woolley, General Manager at IBM Ecosystem, said.