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[ad_1] HCL Technologies share price nosedived 6.9% on Monday morning to hit a low of Rs 1,244 per share, days after the company announced its quarterly results. Investors sold shares of HCL Technologies as the IT major reported a 13.6 per cent fall in net profit to Rs 3,442 crore for the October-December quarter. Revenues were 15.7% higher from the year-ago period. HCL Technologies stock was down in the red but analysts have not given up on the IT firm and remain bullish. Some brokerage firms have even upgraded their target price for HCL Technologies, making today’s fall in stock price a more attractive buying opportunity.  Kotak Securities: BuyFair value: Rs 1,500 HCL Technologies reported remarkably strong revenue strong growth and an equally disappointing margin. Kotak Securities have raised revenue growth forecast by 1-3%. “We believe that services business can grow 14% in FY2023E powered by leadership in fast-growing ERD, improved participation in integrated & digital deals and strong TCV & deal pipeline,” they said. “Roll-over to FY2024E financials drives 7% increase in FV to Rs 1,500; we value services business at 25X FY2024E EPS,” they added. The stock will have to rally 20% from today’s low to touch the fair value. Motilal Oswal: BuyTarget price: Rs 1,690 Analysts at Motilal Oswal have maintained their ‘Buy’ rating on HCL Technologies. “Strong sequential growth within services, robust headcount addition, healthy deal wins, and a solid pipeline indicates an improved outlook,” the brokerage firm said while adding that growth acceleration may compensate for margin hit. “Given its deep capabilities in the IMS space and strategic partnerships, investments in Cloud, and Digital capabilities, we expect HCLT to emerge stronger on the back of an expected increase in enterprise demand for these services,” they said. The target price implies a massive 35% upside. Yes Securities: BuyTarget price: Rs 1,556 Yes Securities highlighted the strong deal booking for HCL Technologies. The IT major saw 64%  on-year growth in deal booking at $2.14 billion. Analysts believe the stock is trading at an attractive valuation at a PE of 19.3x on FY24E EPS. “We value the stock at 22.5x on FY24 earnings, arriving at a target price of Rs 1,556/share,” Yes Securities added. ICICI Direct: HoldTarget price: Rs 1,430 ICICI Direct believes margin pressure on Services may continue and has hence downgraded the stock from a ‘Buy’ rating to ‘Hold’. “The management reiterated double-digit revenue guidance for FY22 and 19- 21% EBIT margin for FY22. The company indicated that 65 bps margin impact for the quarter (due to seasonal leaves) would not be recurring in nature but other factors may continue to impact for a few quarters. Due to this, HCLT expects EBIT margins to be at the lower end of the guided range,” ICICI Direct noted. The target price suggests a 14.9% upside. [ad_2] Source link

[ad_1] These Personalized Silicone Airpods Cases are so cute! Jane has these Personalized Silicone Airpods Cases for just $14.99 right now! Choose from nine colors and 10 designs. Shipping is $1.99 for the first case and free for each additional case shipped within the same order. Psst! We love Jane! Looking for other great Jane deals? Check out our custom Jane page for more of our hand-picked favorite deals each day! [ad_2] Source link

[ad_1] Credit Suisse chairman quits over COVID-19 breaches in latest setback [ad_2] Source link

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic headline indices enter the new week after having closed flat with a negative bias on Friday. S&P BSE Sensex settled at 61,223 on Friday while the NSE Nifty 50 index ended at 18,255 — both gaining nearly 2.5% each during the week. On Monday morning, SGX Nifty was down in the red, hinting at a weak start to the day’s trade. Global cues were mixed after Dow Jones closed in the red while S&P 500 and NASDAQ ended in the green on Friday. During the early hours of trade on Monday Shanghai Composite, Nikkei 225, and TOPIX were in the green while Hang Seng, KOSPI, and KOSDAQ were in the red. This week Dalal Street will be guided by the results of the listed companies. Top names such as Reliance Industries, ICICI Bank, JSW Steel, Bajaj Auto, Asian Paints, Hindustan Unilever will announce their quarterly earnings this week. Investors will also react to HDFC Bank and HCL Technologies earnings that were reported in the last few days. Further investors are likely to keep an eye on the primary market where AGS Transact Technologies IPO will open for subscription on January 19.   [ad_2] Source link

[ad_1] These I Spy Table Size Coloring Pages are so much fun for kids! Jane has these I Spy Table Size Coloring Pages for just $8.99 right now! Choose from 15 different designs, including several cute Valentine’s Day themed ones! Shipping is $3.99 for the first page and $0.99 for each additional page shipped within the same order. Hurry — this deal ends tonight, January 14, 2022. Psst! We love Jane! Looking for other great Jane deals? Check out our custom Jane page for more of our hand-picked favorite deals each day! [ad_2] Source link

[ad_1] Top hedge funds earn record $65.4 billion for clients in 2021 – LCH data [ad_2] Source link

[ad_1] RIL’s $4-billion bond issue was clearly the main force that pushed the rupee higher these past couple of days, taking it above 74 and crossing a nearly five-year-old resistance line. Of course, RBI jumped in buying dollars after a long time, reversing its recent practice when it sold dollars to protect against rupee weakness in 13 of the past 17 weeks. The big questions, of course, are whether (a) rupee strength will sustain, and (b) RBI will continue its efforts to prevent rupee strength, and if so, will it be successful. There are many forces affecting rupee strength. The largest umbrella is global dollar strength/weakness; DXY has risen from sub-90 in June/July this year, when the first talk about inflation and Taper II began to circulate. It reached a peak of 96.50 in mid-December, when it became clear that the Fed was on the job and US rates were set to rise—indeed, at its last meeting the Fed has penciled in 4 rate rises this year. The market appears less nervous than it was just a month or so ago, when it felt like the Fed was behind the curve—US equities have steadied and look to rise further. On the flip side, interest rates in other major economies are also going up—German bunds appear to be coming out from underwater for the first time in nearly three years—and this could contain further dollar strength. The second, and more direct, factor affecting rupee strength is, of course, supply of and demand for dollars. It would seem that, with US interest rates going up, there will likely be several other large Indian companies that follow RIL’s lead and issue bonds overseas—global bond markets are rocking with over USD 100 bn already raised in the first 10 days of the year. Again, with a continuing list of IPOs planned in the near future, notably including LIC, and, of course, the ever-hungry private investor universe which apparently sees huge profits in India, equity inflows should also be strong, with Indian markets again targeting all-time highs. There could be corrections, of course, but directionally I think money will continue to come into India. And then there is the prospect of Indian bonds being included in global bond indices as early as the budget or soon thereafter. This could be huge—we note that in August, when the first whispers of this possibility were mooted, we saw $1.5 billion of debt inflows in a day! Given all this, we believe the physical flows would, again, help contain the current account deficit, which will, however, despite strong—indeed record—exports, rise over the next few quarters, since imports are growing like gangbusters. Which brings us to the second question—whether RBI will continue its efforts to prevent rupee strength. In most circumstances, we would expect that RBI would eagerly get back on the job of buying dollars to build reserves and prevent rupee strength. However, with inflation becoming more and more of a major issue and, crucially, a whole slew of assembly elections set for Valentine’s Day, RBI may find itself politically compelled to allow more rupee strength, by raising rates in tandem with the Fed—local money markets are already climbing higher—and/or letting the rupee strengthen some more. On the flip side of the equation is, again, the increasing uncertainty around the state elections, most critically, in UP. The momentum there, as in other states, certainly appears to be swinging quickly away from the BJP, and if they were to lose UP, or even suffer a severe setback, political risk could get much, much louder and we could see equity markets and the rupee tank. Of course, Narendra Modi is known to be a conjurer with different rabbits that he can pull out of multiple hats. Before the last UP polls, it was demonetisation, which in one stroke rendered all the opposition parties cashless, and, hence, toothless. It would seem the old stand-by—demonizing minorities—may be too weak a weapon, particularly in the current mood, and with very little time left. There is always Pakistan, of course, to use as a bogeyman, but they seem focused on their own problems and I don’t think Modi would trigger a conflict to help him win some points in the local elections— indeed, with Punjab also going to the polls, this could be particularly dangerous. But, writing off Modi at any time is a foolishness, so there has to be some—and, perhaps, a significant— probability of politics generating high volatility. As always, keep your head down and follow a structured process for hedging—importers should follow a trailing stop loss approach; exporters should keep hedging at every opportunity following pre-set rules. The author is CEO, Mecklai Financialhttp://www.mecklai.com [ad_2] Source link

[ad_1] I had some leftover ham in the freezer from making Ham & Beans last week, so I pulled it out and used it to make a favorite of ours — Ham & Cheese Pockets. The next night, there was still a little ham left, so I made scrambled eggs with ham, onions, and cheese and we had homemade mini waffles, too. I found some great markdowns at the grocery store this week – including eggs, turkey wings, yogurt, bread, bananas, canned goods, and pumpkin pancake mix! My total for all these groceries was $64. Since I got eggs and bread marked down, I’m thinking we’ll have French Toast sometime this next week. And I bought chocolate chips to make Chocolate Chip Banana Muffins. The Pumpkin Spice Pancake mix was just $0.37 each, so I think we might have breakfast for dinner two nights this week — especially since we have breakfast sausage in the freezer from a deal awhile back! For a few years, people have suggested I should join TikTok and post there. I resisted it because I wasn’t sure what to post. But some of my online friends suggested I take some of the things I post on Instagram Stories and re-purpose them for TikTok. So I just started posting two days ago and am having fun experimenting with it! If you are already on TikTok and would like to join me, you can follow me here. I love it when I find bananas marked down! I freeze them to use in banana bread, banana muffins, and smoothies! I’m finally feeling well enough in my pregnancy (I’m 17 weeks today!) to eat my daily salads for lunch again!! YAY! I made Baked Turkey Wings with the marked down turkey wings I got. We served them with mashed potatoes and green beans and it kind of felt like Thanksgiving in January! [ad_2] Source link

[ad_1] Unilever to weigh raising offer for GSK's consumer assets – Bloomberg [ad_2] Source link

[ad_1] A major political drama unfolded in Uttarakhand ahead of the assembly elections as minister Harak Singh Rawat was on Sunday dismissed from the state cabinet and expelled from the primary membership of the BJP for six years. The party media coordinator for Uttarakhand, Manveer Singh Chauhan, said Rawat had been suspended for ‘indiscipline’. Rawat has been dismissed from the cabinet by Chief Minister Dhami and also expelled from the primary membership of the party for six years, state BJP spokesman Shadab Shams told PTI in Dehradun. Welcoming the decision, Shams said this gives a strong message that the BJP is a party which does not tolerate indiscipline and does not bow to pressure of any kind. Rawat, who represents the Kotdwar seat in the state assembly, is said to have been seeking a ticket for his daughter-in-law Anukriti Gusain from the Lansdowne constituency and a change of seat for himself. The sources in the BJP also said that for some time now, there have been reports of Rawat being unhappy with the BJP leadership. He has also been in touch with the Congress to return to that party, they said, adding that among other reasons, the BJP expelled him for anti-party activities. Rawat was in the news recently when he threatened to resign from the state cabinet insisting on his demand for a medical college in Haridwar. He is currently in Delhi. [ad_2] Source link