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Hasn't fared well - amongst the low performers

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Seems to be overvalued vs the market average

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Lagging behind the market in financials growth

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Can be considered moderately valued vs the market

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Price return has been average, nothing exciting

Strong financials and growth story over the years

The stock has a moderate number of red flags

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

The Nifty IT index closed 0.05 per cent at 42609.55.

Stock market update: Nifty IT index 0.05%

The Nifty IT index was trading 0.4 per cent at 42762.05.

Stock market update: Nifty IT index 0.4% in an upbeat market

Indian benchmarks opened higher, led by banking and IT stocks, after three sessions of declines due to weak earnings.

Sensex jumps over 100 points, Nifty above 24,150; bank and IT stocks lead

The markets kept on swinging intraday but ended flat at closing. The NSE Nifty 50 fell by 0.03% to 24,141, while the BSE Sensex dipped 0.01% to 79,496. The Nifty Healthcare was in red today while Nifty IT stood in green.

ET Market Watch: Sensex settles flat after 1,101-pt intraday swing; Nifty below 24,150 | The Economic Times Podcast

Despite the correction, valuations reman elevated, especially for small caps. Markets were anticipating a weak 2Q earnings season, but the actual numbers were worse than these weak expectations.

ETMarkets Smart Talk: US policy changes could benefit Indian IT sector; Utilities and Industrials favored by UBS

HCL Technologies’ shares are nearing a breakout point, with analysts predicting a surge to Rs 2,100 if they surpass Rs 1,880. The bullish forecast is underpinned by the IT sector’s strength and positive technical indicators. Traders are eyeing a bull call spread strategy, targeting Rs 2,000 and Rs 2,100, while setting a stop-loss at Rs 1,785.

F&O Radar| Deploy Bull Call Spread in HCL Tech to gain from bullish sentiment

Sampath Reddy, Founder & CIO of Azurean Investment Managers, shares his insights on the current market trends. He discusses the impact of DII and FII investments on valuations, particularly in the mid and small-cap segments. Reddy also expresses caution regarding the IT sector’s outlook, emphasizing the need to observe order book trends before becoming overly optimistic.

Wait and watch! Don’t jump the gun on Indian IT companies: Sampath Reddy

The Nifty IT index closed 1.28 per cent at 42590.30.

Stock market update: Nifty IT index 1.28%

Sensex, Nifty updates on November 11, 2024: Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for November 11, 2024.

Share Market Highlights November 11, 2024: Sensex, Nifty trade firm; IT stocks lead rally

Indian benchmark indices ended relatively flat on Monday, as weak earnings reports and persistent foreign fund outflows weighed on investor sentiment. While IT stocks saw gains, sectors like auto, FMCG, and pharma closed in negative territory. The Indian rupee also hit a new all-time low against the US dollar.

Sensex, Nifty end choppy trade on flat notes weighed by weak earnings and foreign outflows

At the 200th anniversary celebration of Shree Swaminarayan Mandir in Vadtal, PM Modi warned of divisive forces attempting to divide society based on caste, religion, language and he also urged the country to defeat these forces unitedly. He further emphasized empowering India’s youth as a global workforce, highlighting their growing demand and strength on the world stage. Addressing a programme marking the 200th-anniversary celebrations of Shree Swaminarayan Mandir in Vadtal, PM Modi said, “There is a conspiracy going on to divide the society on the basis of caste, religion, language, high and low, men and women, villages and cities. It is important that we understand the seriousness of this attempt of the national enemies, understand the crisis and we all have to defeat such an act together. We have to work together...We have to create strong, capable and educated youth. For a developed India, the youth should be empowered. Skilled youth will become our biggest strength. The global demand for our youth is going to increase further. Today, whatever world leaders I meet, most of the leaders expect that the youth of India, the skilled manpower of India, the youth of the IT sector of India should go to their country and work in their country. The whole world is attracted by the capability of the youth of India...”

PM Modi’s warning over active ‘divisive forces’: ‘A conspiracy is going on…’

UTI Nifty IT ETF aims to replicate the returns of the Nifty IT TRI by investing in IT company stocks.

UTI Nifty IT ETF

Average daily traded value of the ETF is low