Sensex Today Trades Flat; Sonata Software Rallies 7%
Asian shares opened higher on Tuesday ahead of the US Fed's meeting this week. Inflation data from India and Japan dominate the Asian calendar on Tuesday.
The Nikkei is trading 0.7% higher while the Hang Seng index is trading 0.8% higher.
US stocks registered modest gains on Monday but managed to close at new highs for the year, ahead of major market catalysts this week.
Here's a table showing how US stocks performed on Monday:
| Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
| Alphabet | 134.7 | -1.9 | -1.4% | 134.8 | 132.9 | 142.4 | 85.6 |
| Apple | 193.2 | -2.5 | -1.3% | 193.5 | 191.4 | 198.2 | 124.2 |
| Meta | 325.3 | -7.5 | -2.2% | 329.9 | 320.0 | 342.9 | 112.5 |
| Tesla | 239.7 | -4.1 | -1.7% | 243.4 | 237.5 | 299.3 | 101.8 |
| Netflix | 459.9 | 6.1 | 1.4% | 470.7 | 457.2 | 485.0 | 273.4 |
| Amazon | 145.9 | -1.5 | -1.0% | 146.2 | 143.6 | 149.3 | 81.4 |
| Microsoft | 371.3 | -2.9 | -0.8% | 371.6 | 366.1 | 384.3 | 219.4 |
| Dow Jones | 36,404.9 | 157.1 | 0.4% | 36,416.2 | 36,231.2 | 36,416.2 | 31,429.8 |
| Nasdaq | 16,221.7 | 137.1 | 0.9% | 16,232.3 | 16,061.9 | 16,232.3 | 10,671.2 |
Source: Equitymaster
At present, the BSE Sensex is trading 27 points higher and NSE Nifty is trading 24 points higher.
Bajaj Auto, Hero MotoCorp, and Dr Reddy's Laboratories are among the top gainers today.
BPCL, Eicher Motors and Bharti Airtel on the other hand are among the top losers today.
Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.3% higher and the BSE Small Cap index is trading higher by 0.6%.
Barring the oil & gas sector and the telecom sector all other sectoral indices are positive today, with stocks in the metal sector and auto sector witnessing most buying.
Shares of MRF and Nestle hit their 52-week high today.
The rupee is trading at Rs 83.36 against the US dollar.
In commodity markets, gold prices are trading 0.3% higher at Rs 61,306 per 10 grams today.
Meanwhile, silver prices are trading 0.4% higher at Rs 72,156 per 1 kg.
RVNL's Metro Project Win
State-owned Rail Vikas Nigam (RVNL), on Monday, said that it has bagged a Rs 5.4 bn order from Madhya Pradesh Metro Rail Corporation. The project entails the construction of elevated stations for the Indore Metro Rail Project.
The contract, awarded to the RVNL-URC JV, involves part design and construction of an elevated viaduct, five elevated metro rail stations, and a ramp for the Indore Metro Rail Project.
The work is due to be completed in three years. RVNL has a 51% stake in the JV, while the rest is held by Chennai-based URC Construction.
RVNL from December 2022 to September 2023 has given a multibagger return of 125%. Take a look.
It is one of the small-cap stocks held by LIC.
Infosys CFO Resigns
Infosys's Chief Financial Officer Nilanjan Roy has stepped down, and his exit will be effective from 31 March 2024. The IT services major announced the appointment of Jayesh Sanghrajka as the new CFO on 1 April.
Roy's resignation comes at a time when Infosys as well as its other tier-I IT services peers, including Wipro, HCLTech, and TCS, are witnessing increasing top-level exits.
In a statement, Infosys said that Roy, who was appointed in the role in 2018, decided to step down to pursue his aspirations outside of Infosys.
In the last one and a half years, former presidents Ravi Kumar S and Mohit Joshi resigned from the company.
Sanghrajka comes with over 18 years at Infosys across two stints and has performed various leadership roles. He is currently the Executive Vice-President and Deputy Chief Financial Officer.
He comes with over 25 years of work experience and is a chartered accountant.
On the business front, Infosys is currently braving macroeconomic uncertainties and a cautious demand environment.
As of the second quarter ended 30 September, the company had even narrowed its revenue growth guidance for the full year at the upper end, estimating revenue growth to be in the range of 1-2.5% for the full year.
This comes after it sharply slashed the guidance last quarter to 1-3.5% from 4-7%.
Infosys stands among the Top 5 Smallcap Stocks with Attractive PEG Ratios.
Dixon's Arm to Build Lenovo Laptops
Dixon Technologies informed the stock exchanges on December 11 that its wholly-owned subsidiary Padget Electronics has been awarded a contract by Lenovo to manufacture laptops and notebooks under the Production-Linked Incentive (PLI) 2.0 Scheme.
This partnership is expected to significantly boost India's manufacturing competitiveness.
Lenovo will bring in the global know-how and processes to manufacture IT hardware products.
Lenovo, which is a Global leading player in their field is known for its affordable yet technologically advanced products.
Padget Electronics made headlines recently when it announced the launch of its smartphone manufacturing facility in Noida, Uttar Pradesh, dedicated to producing devices for the global technology giant Xiaomi.
The Noida plant is built across 2.7 lac square feet and has an annual capacity of 25 million units.
More By This Author:
Sensex Today Ends 103 Points Higher; Nifty Ends Near 21,000Sensex Today Crosses 70,000 Mark; IRFC Jumps 4%
Sensex Today Ends 132 Points Lower; Nifty Holds 20,900
Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...
more
Comments
