Sensex slips 100 pts, Nifty below 18.3k; auto, AGSmetal stocks drag

On Jan 18, 2022

Shares of companies like Bajaj Finance, ICICI Prudential Life, L&T Tech, ICICI Securities, Tata Elexi, DCM Shriram, EKI Energy Services, Newgen Software, Just Dial, and Anup Engineering will be in focus as they announce their December quarter earnings today. Stocks were mixed Monday as traders weighed a global advance in sovereign bond yields and corporate developments. Global stocks have slipped this year, hurt by a retreat in U.S. shares. A key question now is whether company profits will revive sentiment, despite higher costs and challenges from the omicron virus strain.

18 Jan 2022, 10:31:03 AM IST

Auto, pharma stocks drag

18 Jan 2022, 10:23:05 AM IST

Market opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

“The markets are taking a bit of a breather this morning. While it is facing some resistance at 18350, the trend continues to remain positive and the Nifty should be able to achieve 18600. A strong support lies at 18100 and hence any market drop can be used to accumulate long positions.”

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18 Jan 2022, 10:13:08 AM IST

Tech Mahindra’s CTC acquisition doesn’t excite the Street

Tier-1 IT services provider Tech Mahindra Ltd which is on an acquisition spree has bought an East European IT services company Com Tec Co IT (CTC) for EUR310 million, which caters to clients in the insurance vertical.Tech Mahindra has also purchased a minority stake of 25% in two insurance technology platforms called SWFT and Surance for for EUR20 million.

In a call with the analysts, the management said that CTC has industry-leading earnings before interest and tax ( Ebit) margin and will be accretive on an earnings per share, free cash flow and return on equity basis. In CY18/CY19/CY20, CTC had a revenue of EUR36.6/EUR57.6/EUR71.3, respectively, the management said.

This acquisition and it’s stake in two platforms are poised to boost Tech Mahindra’s presence in the insurance vertical. But the Street is not too enthused about it. Reacting to this development, shares of company fell by around 1.2% on the NSE in Tuesday’s opening trade.

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18 Jan 2022, 10:03:06 AM IST

AGS Transact Tech IPO opens tomorrow:

The initial public offering (IPO) of AGS Transact Technologies will open for subscription on Wednesday, January 19. The price band of the three day initial share-sale has been fixed at ₹166-175 a share. The…