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Sharma is of the view that after the recent correction it is tough to say that midcaps have bottomed out. The big ‘P’ or political situation is the next big uncertainty that Indian market will face in the next few months and investors should not ignore the risks which come with it, Shankar Sharma, VC & Joint MD, First Global said in an interview with CNBC-TV18. “It is a significant event and one should not be dismissive about its importance. It will have a pretty significant effect on the stock market. It was a done deal the last time when the campaign started, but this time it does not look like a done deal,” he said. He further added that there is a possibility that the current government could come back with a weaker setup which markets may not like. Well, there is also a possibility that the market may go with the weaker setup. “Hence, this is a significant event and I have no clue as to what will happen but whatever happens it will have a significant impact on ...

The Nifty50 index managed to surpass crucial resistance levels in a single trading session and is on track to hit a higher target towards 11400, say, experts. Breakout, finally! Five days of a successive rally in the Indian markets pushed Nifty50 beyond its crucial resistance levels of 10,985-11,000 on Wednesday. The index made a long bullish candle for the 5th consecutive day in a row. Nifty50 opened at 10,965 slipped marginally to 10,962 before breaking above 11,000 levels. It touched an intraday high of 11,072 before closing the day at 11,062, up 128 points from its previous close of 10,934.35. Nifty50 managed to surpass crucial resistance levels in a single trading session and is on track to hit a higher target towards 11,400, say experts. India VIX fell by 0.95 percent at 15.63 levels which should comfort bulls. Bank Nifty comparatively remained range bound but managed to extend its gains towards 27,400 zones. It formed a Bullish candle and entering its cruc...

The revenue for the quarter rose 3.6 percent against the September quarter to 8,944 crore. IT major  Tech Mahindra  on February 5 reported a 13 percent sequential rise in Q3 profit at Rs 1,203 crore. The company reported 27.5 percent year-on-year (YoY) rise in consolidated net profit. The revenue for the quarter rose 3.6 percent against the September quarter to Rs 8,944 crore. In constant currency terms, revenue was up 4.3 percent sequentially.  Revenue in US dollar terms was at $1,260.8 million, up 4.3 percent YoY and up 3.5 percent QoQ. The company also raised its employee count in the quarter to 1,21,842, registering an addition of 3,451 employees sequentially. EBITDA for the December quarter rose 6.4 percent sequentially and 36.2 percent on-year to Rs 1,723 crore. EBITDA margins came in at 19.3 percent, up 300 bps YoY and 50 bps QoQ. “This is a milestone quarter for Tech Mahindra with 5 billion dollars annual revenue run rate in sight. The c...

The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh. GST collections in January rose to Rs 1.02 lakh crore the second highest monthly mop-up after April, the finance ministry said on February 2. This is a significant increase from the collection of Rs 94,725 crore in December 2018, and 14 percent higher than January 2018 collection of Rs 89,825 crore. The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh. "The total gross GST revenue collected in January 2019 is Rs 1,02,503 crore of which Central GST is Rs 17,763 crore, State GST (SGST) is Rs 24,826 crore, Integrated GST (IGST) is Rs 51,225 crore and Cess is Rs 8,690 crore," the ministry said in a statement. This is the third time in current fiscal that revenues from Goods and Services Tax (GST) have crossed Rs 1 lakh crore mark. In April and October too, the collections surpassed th...