Sensex Today Trades Higher; PB Fintech Surges 11%

Major Asian stock markets fell on Wednesday ahead of the US Fed's policy outcome later in the day.

The Nikkei index was trading 0.5% lower, while Hang Seng was trading 1.2% lower. Meanwhile, the Shanghai index tanked 1.1%.

The tech-heavy Nasdaq lost ground on Tuesday as the market awaited a spate of high-profile corporate earnings and the Federal Reserve convened for its monetary policy meeting.

Here's a table showing how US stocks performed on Tuesday:

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 153.05 -1.79 -1.16% 155.04 152.78 155.2 88.86
Apple 188.04 -3.69 -1.92% 191.8 187.47 199.62 141.32
Meta 400.06 -0.96 -0.24% 406.36 399.57 406.36 147.06
Tesla 191.59 0.66 0.35% 196.36 190.61 299.29 152.37
Netflix 562.85 -12.94 -2.25% 570.88 560.82 579.64 285.33
Amazon 159 -2.26 -1.40% 161.73 158.49 161.73 88.12
Microsoft 408.59 -1.13 -0.28% 413.05 406.45 413.05 242.95
Dow Jones 38467.31 133.86 0.35% 38497.39 38257.8 38497.39 31429.82
Nasdaq 17476.71 -119.56 -0.68% 17578.46 17443.77 17665.26 11695.41

Data Source: Equitymaster

At present, the BSE Sensex is up 131 points and NSE Nifty is trading 51 points higher.

ONGC, Tata Motors, and Coal India are among the top gainers today.

L&T, ICICI Bank, and Titan on the other hand are among the top losers today.

Broader markets are trading higher. The BSE Mid Cap is trading 0.4% higher and the BSE Small Cap index is trading 1% higher.

Sectoral indices are trading mixed, with socks in the metal sector, energy sector, and oil & gas sector witnessing the most buying. Meanwhile, stocks in the banking sector and capital goods sector witnessed selling pressure.

The rupee is trading at Rs 83.12 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 62,441 per 10 grams today.

Meanwhile, silver prices are trading flat at Rs 72,281 per 1 kg.
 

TCS Bags Aviva Deal

Tata Consultancy Services (TCS) on 30 January announced that Aviva, the UK's leading insurance, wealth, and retirement provider has expanded its partnership with the IT services major in a 15-year agreement to transform the company's UK Life business and improve customer experience.

TCS did not disclose the deal size.

The deal comes after the country's largest IT services firm had a seasonally weak quarter where no large deals were reported.

Aviva has been a long-standing partner of TCS for 20 years. In this new agreement, TCS will be deploying TCS BaNCS, transforming Aviva's end-to-end policy administration and servicing to expand to cover over 5.5 million policies. This will further be managed by Diligenta, TCS' FCA-regulated subsidiary in the UK, on behalf of Aviva.

TCS has operated in the UK for more than 45 years and works with over 200 of the top businesses in the country, including British Airways, Virgin Atlantic, Sainsbury's, Nationwide, M&S, Asda, and Boots.

TCS has a leadership position in software and IT services to the UK market. It currently employs more than 23,000 people in the UK and Ireland, making it among the region's biggest IT employers.
 

L&T Q3 Results

Larsen & Toubro (L&T) reported a consolidated net profit of Rs 29.5 bn for the December quarter of FY24, up 15% from the year-ago period, on better execution of infrastructure projects and continued growth in the IT and tech services portfolio.

Revenue zoomed to Rs 551.3 bn, 19% higher than last year.

The numbers were lower than market expectations.

An average of estimates of four brokerages pegged the diversified conglomerate to report an over 30% year-on-year (YoY) jump in profit at Rs 33.2 bn. Revenue was expected to grow 20% to Rs 557.2 bn on the strength of a strong order book.

L&T won orders worth Rs 759.9 bn at the group level during Q3, logging a 25.2% growth over the corresponding quarter of the previous year when it had won orders worth Rs 607.1 bn.

During the reporting quarter, orders were received across multiple segments, including public spaces, nuclear power and the irrigation, ferrous metal, health, renewables, and refinery sectors.

International orders at Rs 505.6 bn during the quarter comprised 67% of the total order inflow. Last year, L&T had international orders worth Rs 152.9 bn, which accounted for 25% of its total order inflow.

The group's consolidated order book was at Rs 4.7 trillion (tn) as of the end of December, with international orders having a share of 39%. Last year, L&T ended the same period with a group consolidated order book of Rs 3.9 tn.

It stands among the five large-caps that have delivered the highest returns to investors in 2023.

L&T has been an investor's favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape.


More By This Author:

Sensex Today Tanks 802 Points; 3 Reasons Why Indian Share Market is Falling
Sensex Today Trades Lower; Nifty Below 21,800
Sensex Today Ends 360 Points Lower; ACC Surges 11%

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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