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Wipro CEO sees AI boosting IT demand

Wipro CEO Srinivas “Srini” Pallia said Indian IT services are seeing higher demand as companies move from small AI experiments to large-scale implementations, speaking at the World Economic Forum in Davos.

Wipro is bidding for both major and minor AI projects as clients adopt technology at different paces. Despite some pricing pressures due to faster deliveries with smaller teams, Pallia expects AI-driven cost savings to encourage more projects.

While overall tech budgets may remain stable, spending is increasingly focused on AI and efficient IT services. Wipro has invested $1 billion to enhance its AI offerings.

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Kalyan Jewellers shares fall 25%

Kalyan Jewellers’ shares have plunged around 25% over the past nine trading sessions, hitting a 52-week low of about ₹390 on January 21 after a nearly 14% fall.

The sharp decline comes amid heavy selling pressure and market weakness, with no major change in the company’s fundamentals. Fluctuating gold prices are also adding to investor caution.

Analysts say the upcoming December quarter results, due on February 6, will be closely watched. While short-term trading looks weak, brokers see potential for long-term recovery if market conditions stabilize.

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CLSA raises Reliance target to ₹1,800, flags Jio upside

Brokerage firm CLSA has increased its 12-month price target for Reliance Industries Limited (RIL) to ₹1,800 from ₹1,650, maintaining an Outperform rating on the stock.

The upgrade is largely driven by optimism around Jio Platforms, which CLSA expects to deliver strong subscriber growth, improved monetisation and rising free cash flows. The brokerage estimates Jio’s valuation could touch $190 billion by FY28, with a possible IPO acting as a major trigger.

While CLSA has moderated expectations for RIL’s retail and new energy businesses due to slower momentum, it believes the group’s long-term value remains intact, supported by telecom-led growth and steady earnings across core segments.

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ITC Hotels Q3 profit rises 9.4%

ITC Hotels reported a 9.4 percent rise in consolidated net profit to ₹235 crore for the third quarter ended December, compared with ₹215 crore a year ago.

Revenue from operations grew sharply by 21 percent to about ₹1,230 crore, driven by higher room occupancy, better average room rates and strong demand from weddings, conferences and corporate travel.

The company also saw improved performance in its food and beverage segment. Operating margins expanded due to better cost control and higher scale. The results reflect continued recovery and steady growth in India’s hospitality sector following ITC Hotels’ recent demerger.

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Tata Capital posts 17% jump in Q3 profit

Tata Capital delivered a strong performance in the October–December quarter, reporting a 17 per cent rise in net profit to ₹1,257 crore, compared with ₹1,076 crore in the same period last year.

The Tata Group’s financial services arm saw its revenue from operations grow by around 12 per cent, supported by higher interest income. Its assets under management increased 26 per cent year-on-year to ₹2.34 lakh crore, indicating healthy expansion in its loan portfolio.

The company’s motor finance segment also achieved breakeven during the quarter. The robust results were welcomed by investors, leading to a positive reaction in the market.

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Hindustan Zinc gains 2% on Q3 boost

Hindustan Zinc shares rose nearly 2 percent after the company posted strong third-quarter results, helped by a sharp rise in silver prices.

Net profit jumped around 46 percent year-on-year to about ₹3,900 crore, while revenue increased nearly 28 percent, supported by higher metal prices and steady production. Silver emerged as a key earnings driver during the quarter, benefiting from record global prices.

Following the results, several brokerages maintained a positive outlook and raised target prices, citing strong cash flows. However, some analysts advised caution, pointing to rich valuations despite the solid performance.

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Shadowfax launches ₹1,907 cr IPO, mixed market response on Day 1

Shadowfax Technologies launched its ₹1,907 crore IPO on January 20, priced between ₹118–₹124 per share. The issue combines new shares and an offer for sale by existing investors and will remain open until January 22.

Early data shows moderate overall subscription, with retail investors showing the strongest interest. The grey market indicates potential listing gains of 5–6%, though analysts warn valuations are on the higher side compared to industry peers.

Investors are advised to consider the company’s growth prospects before applying.

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Bharat Coking Coal stock drops 7% after strong market debut

Shares of Bharat Coking Coal Ltd (BCCL) fell about 7% after a strong stock market debut, where the stock listed at a 97% premium over its IPO price.

The sharp fall came as investors booked profits following the big opening-day gains. The company’s IPO received strong demand, helping the stock open at high levels. Market experts say such a fall is common after a sharp listing rally.

They advise short-term investors to consider booking profits, while long-term investors may hold the stock based on the company’s business prospects and role in the coal sector.

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Cipla falls 3% on Lanreotide supply halt

Shares of Cipla Ltd dropped over 3% after a temporary halt in production of its key US drug, Lanreotide, due to quality issues at its European supplier.

Lanreotide is one of Cipla’s top three US revenue-generating products, and the disruption has raised investor concerns. Brokerages including Morgan Stanley and Nuvama cut target prices, citing risks to FY27 earnings from the supply pause, rising competition, and loss of exclusivity on other drugs.

Cipla expects resupply in the first half of FY27, creating near-term uncertainty for its financial outlook.

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ICICI Bank Q3 profit seen up 7.5%

ICICI Bank is expected to report a steady performance in the December quarter, with analysts forecasting up to 7.5 percent year-on-year growth in profit after tax.

The growth is likely to be driven by healthy loan expansion, especially in retail and small business segments. Net interest income is estimated to rise around 6–8 percent, supported by strong credit demand.

Net interest margins are expected to remain largely stable despite pressure from funding costs. Market participants will closely track asset quality, fee income and provisioning trends when the bank announces its Q3 results.