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Infosys is expected to post double-digit growth in revenue and profit for Q1FY27, aided by seasonal factors and acquisitions. However, brokerages remain divided on whether the IT major will raise or trim its FY27 revenue growth guidance amid macro uncertainty, weak discretionary spending and AI-led pricing pressure.
IBM reduced its annual revenue growth forecast on Wednesday. The company also missed profit and revenue expectations for the second quarter. This shift occurred as corporate spending moved towards AI data-center gear. IBM’s Z mainframe revenue slumped significantly, impacting overall infrastructure performance. Executives reassured shareholders about long-term mainframe demand despite current challenges.
South Korea’s Kospi surged 4% on Thursday, extending gains for a third straight session, as stronger-than-expected economic growth and robust AI spending plans from US tech giants boosted chip stocks. Samsung Electronics and SK Hynix climbed up to 6%, driving the benchmark higher after GDP expanded 0.6% in the April-June quarter, beating forecasts.
The IPO is a fresh issue of 1.31 crore equity shares, aiming to raise Rs 166.8 crore, making it another addition to an active primary market.
The IPO is entirely an Offer for Sale (OFS) comprising more than 2.59 crore equity shares, which means the proceeds will go to the existing shareholders, while the company itself will not receive any funds from the offering.
Four stocks from the Nifty500 segment that gained over 2% featured in the RSI Trending Up scan on July 22 after showing improving momentum. The RSI moved above the 50 mark from lower levels, signalling strengthening price action, improving sentiment and potential short-term buying opportunities for traders tracking bullish technical setups.
On July 22, four stocks in the Nifty500 pack rallied more than 1% above their Volume Weighted Average Price (VWAP), according to StockEdge’s technical scan data. Trading above the VWAP is widely regarded as a bullish technical signal, reflecting strong buying interest and indicating the potential for further upside.
Oracle Financial Services Software reported a 121% net income rise to Rs 1,416 crore. Revenue from operations increased 69% year-on-year to Rs 3,125 crore. The company secured new agreements with major U.S. and Mexican financial institutions. Oracle’s products business saw a 75% revenue increase during the quarter. Management attributed the success to its AI-first strategy…
Gold prices softened on Thursday after reaching recent highs. Escalating Middle East tensions boosted oil prices and the dollar’s safe-haven appeal. Traders now await the Federal Reserve meeting for interest rate clues. Rising oil prices also fueled inflation concerns and potential Fed rate hikes. Other precious metals like silver and platinum saw modest gains.
Based on the current GMP, the company’s shares are estimated to list at around Rs 670 per share, compared with the upper issue price of Rs 485. However, investors should note that the grey market is unofficial, and GMP is only an indicator of investor sentiment, not a guarantee of listing gains.