Nifty 17196.7 (-1.18%)
Sensex 57696.46 (-1.31%)
Nifty Bank 36197.15 (-0.85%)
Nifty IT 35848.05 (-0.86%)
Nifty Financial Services 17779.5 (-1.13%)
Adani Ports 737.45 (-0.22%)
Asian Paints 3110.45 (-2.21%)
Axis Bank 673.00 (-0.46%)
B P C L 385.90 (1.86%)
Bajaj Auto 3287.85 (-1.22%)
Bajaj Finance 7069.25 (-1.55%)
Bajaj Finserv 17488.70 (-1.52%)
Bharti Airtel 718.35 (-1.94%)
Britannia Inds. 3553.75 (-0.69%)
Cipla 912.05 (-1.00%)
Coal India 159.75 (0.28%)
Divis Lab. 4757.05 (-0.42%)
Dr Reddys Labs 4596.50 (-1.42%)
Eicher Motors 2455.55 (0.16%)
Grasim Inds 1703.90 (-1.16%)
H D F C 2771.65 (-1.29%)
HCL Technologies 1171.40 (-1.12%)
HDFC Bank 1513.55 (-0.80%)
HDFC Life Insur. 690.95 (-2.03%)
Hero Motocorp 2462.45 (-0.41%)
Hind. Unilever 2343.65 (-1.66%)
Hindalco Inds. 424.65 (-1.72%)
I O C L 122.20 (1.28%)
ICICI Bank 716.30 (-0.84%)
IndusInd Bank 951.15 (0.59%)
Infosys 1735.55 (-0.73%)
ITC 221.65 (-1.69%)
JSW Steel 644.55 (-0.34%)
Kotak Mah. Bank 1914.20 (-2.55%)
Larsen & Toubro 1801.25 (0.67%)
M & M 836.95 (-1.48%)
Maruti Suzuki 7208.70 (-1.59%)
Nestle India 19321.35 (-0.93%)
NTPC 127.00 (-1.32%)
O N G C 145.90 (1.32%)
Power Grid Corpn 206.10 (-3.92%)
Reliance Industr 2408.25 (-3.00%)
SBI Life Insuran 1165.95 (-1.86%)
Shree Cement 25914.05 (-1.43%)
St Bk of India 473.15 (-0.81%)
Sun Pharma.Inds. 751.80 (-1.89%)
Tata Consumer 774.30 (0.14%)
Tata Motors 480.10 (0.21%)
Tata Steel 1118.00 (0.50%)
TCS 3640.45 (-0.07%)
Tech Mahindra 1593.30 (-2.23%)
Titan Company 2369.25 (-0.72%)
UltraTech Cem. 7332.45 (0.13%)
UPL 712.75 (2.08%)
Wipro 640.75 (-0.94%)

Thomas Cook India and SOTC sign a strategic agreement with Air Arabia.

Thomas Cook India and SOTC sign a strategic agreement with Air Arabia.
by 5paisa Research Team 13/10/2021

An extensive holiday portfolio will be curated by Thomas Cook and SOTC, with air inventory and exclusive fares being provided by Air Arabia.

Thomas Cook (India) and its group company, SOTC Travel has inked a three-year agreement with Air Arabia, which is the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa. The partnership will deliver on a range of customizable air-inclusive holidays via a technology platform built by Thomas Cook India and SOTC. This signals a clear intent of the company to capitalize on the strong and growing opportunity presented by the Indian markets.

The partnership expands Thomas Cook India and SOTC’s reach with access to Air Arabia’s customer base in India and provides marketing investment to accelerate demand by targeting a range of India’s travel segments. An extensive holiday portfolio will be curated by Thomas Cook and SOTC, with air inventory and exclusive fares being provided by Air Arabia.

The partnership brings travellers the added advantage of a suite of ready-to-book holidays and customizable itineraries – all bookable via a simple and seamless online platform, conceptualized and built by Thomas Cook India and SOTC. Additionally, Thomas Cook and its group company will also support customers through its omnichannel network of contact centres and over 350 retail outlets pan India.

Air Arabia operates from 12 Indian cities including metros and viable tier 2-3 markets, thereby giving India’s travellers an opportunity to holiday across its extensive network of over 170 international favourites – spanning the Middle East, CIS countries, Africa, Europe and Asia; via easy access of its gateway - Sharjah.

Set up in 1881, Thomas Cook (India) is the leading integrated travel and travel-related financial services company in the country offering a broad spectrum of services that include foreign exchange, corporate travel, mice, leisure travel, value-added services, visa and passport services. It operates several leading B2C and B2B brands. As one of the largest travel service provider networks headquartered in the Asia-Pacific region, the group spans 25 countries across five continents.
 

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Top swing trading ideas you should not miss.

Top swing trading ideas you should not miss.
by 5paisa Research Team 13/10/2021

Best Swing Trading ideas based on price and volume percentage surge. ITC, PNC Infratech and Gujarat Ambuja Exports.

Price and volume are two of the most prominent inputs used by traders across the world while swing trading. When used in isolation, they reveal very little but when used in conjunction, they help us to sort the wheat from the chaff. So, this swing trading system is based on the deadly combination of price and volume percentage surge, which helps us to discover high probability swing-trading candidates.

So, here is the list of stocks that fulfil the criteria of volume and price surge and as a result, they flash in our swing-trading system:

  1. ITC: The stock registered a fresh 52-week high and it has also managed to close near the day’s high. The volume for the day was greater than its previous trading session. Furthermore, it was greater than 10 and 30-days average volume. Also, the stock’s daily range doubled its 10-day average range. As a result, the stock met the norms of the swing trading system. In the near term, the stock has the potential to touch the levels of Rs 260 and Rs 265 on the upside, while on the downside, the support is seen around levels of Rs 242.

  1. PNC Infratech: The stock jumped more than 6% on Wednesday. The stock’s daily range was greater than its 10-day average range. In addition to this, the volume for the day was greater than its previous trading session and in fact, was the highest since September 17. With price and volume criteria met, this stock looks ripe for a decent up-move from current levels in the coming days. Swing traders can keep this on the radar for an up-move towards the level of Rs 400 followed by Rs 416, while immediate support is seen around Rs 378. 

  1. Gujarat Ambuja Exports: The stock has witnessed a breakout of the falling trendline on Wednesday, and was supported by strong volume. Volume for the day was not only greater than its previous trading session but also above its 10 and 30-day average volume. In addition to this, the daily range of the stock was greater than its 10-days average range. Considering the strong price movement witnessed in the stock along with volume uptick, swing traders should not miss this stock as it can touch levels of Rs 186 in the near to medium term. On the downside, support is seen around Rs 174 levels.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Is it time to shrug allocation in the IT sector?

Is it time to shrug allocation in the IT sector?
by 5paisa Research Team 13/10/2021

In the last two trading sessions, the Nifty IT index snapped the gains made in the first week of October 2021. Is time to shift your focus? Let’s find out.

The Nifty IT index has been moving southwards for the past two trading sessions. Having said that, the gains made in the first week of October 2021 went in vain. The Nifty IT index saw the first sign of weakness on September 24, 2021, by forming a gravestone Doji candlestick pattern.

Gravestone Doji is a bearish candlestick pattern. This pattern suggests a reversal followed by a downtrend. Usually, this pattern is a sign to take profits on a bullish position. The Nifty IT index has created a gravestone Doji candlestick pattern on daily charts.

Moreover, RSI (Relative Strength Index) is at 50.55 slashed down from 76.60 at the end of September 2021. Also, the MACD (Moving Average Convergence Divergence) is swiftly moving downwards towards negative territory. 

Looking at price action, post making a low of 34,719.80 on October 1, 2021, it failed to break its all-time high level of 37,823.15 and instead made a lower high at 36,703.55 level. So purely from a technical perspective, IT index looks exhausted as of now.

Even on the valuation front, the Nifty IT index seems to be quite stretched. To understand the valuation, we took PE (Price to Earnings) data of the Nifty IT index.

The valuation is indeed quite heated and may cooldown. At the current trailing PE level of 36.11, it is way above its 10-year average PE of 20.93. In fact, it's even above the 3 times standard deviation. The valuations and technical indicators do not paint rosy picture about the index. However, result of IT major, Infosys, and Wipro, having a weightage of more than 33 % in IT index has come out with good numbers. Hence, it is better to stay put as of now.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Infosys Q2 profit climbs 12%, ups revenue guidance

by 5paisa Research Team 13/10/2021

Infosys Ltd has reported an increase of almost 12% in consolidated net profit for the July-September quarter, as revenue jumped and it added more clients than a year earlier.

India’s second-largest software services exporter posted a net profit of Rs 5,421 crore for the quarter ended September 2021, up from Rs 4,845 crore in the same period last year. Profit rose 4.4% from the April-June quarter.

Consolidated revenue surged by a fourth to Rs 29,602 crore from Rs 24,570 crore a year earlier and rose 6.1% from Rs 27,896 crore in the previous quarter.

In dollar terms, the company’s revenue increased 19.4% from a year earlier and 6.3% from the previous quarter in constant currency.

Infosys benefited as revenue from a deal with Daimler, signed in December last year, started kicking in. The Indian company is helping Daimler transform its IT operating model and infrastructure in a multi-billion-dollar deal.

The company also raised its revenue guidance from 14-16% to 16.5-17.5%. It kept its margin guidance unchanged at 22-24%.

Other key details:

1) Infosys had a total of 1,714 clients at the end of September, up from 1,487 a year earlier.
2) It added 117 clients during Q2, compared with 96 in the same period last year.
3) The company now has 35 clients in $100-million-plus band and 62 in $50-million-plus.
4) Infosys had 2,79,617 employees as of September-end, up from 240,20 a year earlier.
5) Attrition rate jumped to 20.1% from 12.8% as hiring activity in the IT sector surged.
6) Operating margin came in at 23.6% in Q2, a decline of 1.8% YoY and 0.1% QoQ.

Management Commentary:

Infosys CEO and managing director Salil Parekh said the company’s “stellar performance” and “robust growth outlook” continue to demonstrate its strategic focus and the strength of its digital offerings.

Parekh said Infosys is witnessing a strong market opportunity with global enterprises rapidly accelerating their digital journeys.

He added that the company’s sustained investments in expanding capabilities, including the differentiated cloud play, has uniquely positioned it to emerge as the preferred cloud and digital transformation partner.

“Given this continued momentum we have further increased our revenue growth guidance to 16.5-17.5%,” he added.

Chief operating officer Pravin Rao said Infosys is expanding its college graduates hiring programme to about 45,000 for the year. He added that the company is preparing to embrace the hybrid work model as more than 86% of its employees in India had received at least one dose of Covid-19 vaccine.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Closing Bell: Nifty closes on record high, Sensex surges by 452 points lead by Tata Group stocks.

Closing Bell: Nifty closes on record high, Sensex surges by 452 points lead by Tata Group stocks.
by 5paisa Research Team 13/10/2021

Indian market continues the bull run as Nifty ends at a closing high and Sensex up by 452 points. Tata Group shares rally.

Domestic Benchmark Indices Sensex and Nifty rose for the fifth consecutive trading session and closed at record high levels on Wednesday, October 13, 2021. Strong buying was seen in metal, IT and auto stocks, while some selling pressure was observed in realty stocks. In the broader markets, BSE midcap and smallcap indices jumped by 1.56% and 0.59%, respectively.

At the closing bell on Wednesday, the Sensex was up 452.74 points or 0.75% at 60,737.05, and the Nifty gained 169.80 points or 0.94% at 18,161.80. Around 1602 shares have advanced, while 1504 shares declined, and 118 shares remain unchanged.

Top gainers of the day were, Tata Motors, M&M, Tata Consumer Products, Power Grid Corp and ITC. Maruti Suzuki, ONGC, Coal India and SBI Life Insurance were among the losers.

On sectoral front, the auto index added 3.5%, while energy, infra, IT, metal, power and capital goods were up by 1%.

Tata Motors was up by almost 22% to a 52-week high of Rs 523.85 on the announcement that its electric vehicle entity will get funding from TPG Group to the tune of Rs 7,500 crore.

Tata Power shares powered ahead to a lifetime high of Rs 232.40 as the Tata Group's power utility is in a partnership with Tata Motors to develop electric vehicle (EV) charging infrastructure. Tata Chemicals clocked a fresh 52-week high of Rs 1144.50.

Among other Tata group stocks, Nelco, Tata Coffee, Rallis India, Tata Communications, Tata Consumer Products, Titan Company, Tata Metaliks, Tata Steel and India Hotels have all rallied 3-5% on the bourses today.

According to market experts, the mood of the global market is muted by inflation fears and high bond yields ahead of the release of US inflation data. But, the Indian market is robust due to the upcoming festival season.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Zee-Invesco tussle takes a new twist as Reliance enters the scene

by 5paisa Research Team 13/10/2021

The controversy surrounding Zee Entertainment Enterprises Ltd and minority investor Invesco has turned uglier, with the billionaire Mukesh Ambani-controlled Reliance Industries Ltd being dragged into the imbroglio. 

On Tuesday, Zee managing director and chief executive officer Punit Goenka said that Invesco was trying to oust him because he chose Sony India over a large Indian conglomerate for a merger with the broadcaster.

Goenka didn’t name the conglomerate. But Invesco, a US-based asset manager that is the biggest institutional shareholder in Zee Entertainment, claimed on Wednesday that the Indian company was Reliance, which owns media companies TV18 and Network18.

“We wish to make clear that the potential transaction proposed by Reliance (the ‘strategic group’ referenced but not disclosed in the October 12 communication by Zee) was negotiated by and between Reliance and Goenka and others associated with Zee’s promoter family,” Invesco said.

Invesco also said that, as ZEE’s single largest shareholder, its own role was to help facilitate that potential transaction “and nothing more”. Invesco added that it rejects all assertions made by Zee on Tuesday. 

“We specifically note that the implication that we as a shareholder would seek out a transaction for Zee that is dilutive to the long-term interests of ordinary shareholders, including ourselves, simply defies logic,” Invesco said.

Invesco, through its funds Invesco Developing Markets Fund and OFI China Global LLC, had previously called for a meeting of Zee shareholders to oust Goenka. After Zee refused to hold the meeting, the two shareholders approached the Bombay High Court and the National Company Law Tribunal. The cases are pending.

Previously, Zee founder and Goenka’s father, Subash Chandra, had questioned Invesco’s intentions behind seeking the removal of Goenka.

Zee-Sony deal contours

Last month, Zee had struck a deal with Sony India to merge the two companies. As part of the deal, Sony would get a majority stake in the combined company and would nominate a majority of the board of directors. However, Goenka would stay as MD and CEO for five years.

The merged entity will effectively own the biggest suite of entertainment content services in India, bypassing Disney India and Star India. It will also be bigger than Viacom 18, the joint venture of billionaire Mukesh Ambani’s Network 18 Group and US-based ViacomCBS.

Interestingly, Sony and Viacom18 were engaged in merger discussions but scrapped the talks last year as the Ambani-led group reportedly wanted a majority stake in the combined entity.

Stock market reaction

Meanwhile, the stock market reacted quite negatively to the latest comments and counter-comments, at least in so far as shares of the Reliance-owned media companies.

Shares of TV18 Broadcast Ltd took a tumble on Wednesday, going down by 5.7%. Shares of Network18 Media Investments Ltd slipped 5.5% after touching a one-year high earlier in the day. This, even as the parent company Reliance Industries Ltd was up more than 1.1% and the benchmark Nifty rose just under 1%. 

Shares of Zee Entertainment, too, rose on Wednesday and ended 3.6% higher at Rs 317.25 apiece.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order