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Business Standard

Nadda calls for regulatory norms for lab-grown meat, plant-based proteins

Health Minister J P Nadda on Friday stressed the need for rigorous food safety standards and an adaptable regulatory framework to address innovative food trends such as plant-based proteins, insect proteins, and lab-grown meat. Speaking at the inaugural session of a two-day global food regulators summit in the national capital, Nadda emphasised the importance of widespread adoption of organic farming globally to mitigate the risks posed by pesticide residues in food. The minister expressed concern over recent reports revealing an "alarming presence of microplastics in humans" and highlighted India's efforts in developing eco-friendly packaging to reduce environmental impact. "The rapid globalisation, technological advancements and evolving consumer preferences are reshaping our food systems at an unprecedented pace. We face a complex area of challenge from persistent foodborne illness and emerging concerns such as nutraceutical safety, novel foods and microplastics in our food chain

The Economic Times

Mphasis, Apollo Tyres among 8 midcap stocks bought by mutual funds in August

According to Mutual Fund Insights by Nuvama Alternative & Quantitative Research, these are the midcap stocks that mutual funds added to their portfolios in August.

The Economic Times

Mphasis shares drop 1.48% as Sensex rises

A total of 46,823 shares changed hands on the counter till 01:49PM (IST)

Business Standard

Why did Mphasis, Nifty IT gain up to 4% after US Fed cut rates by 50 bps?

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Business Standard

Oracle Financial Services Software Ltd leads losers in 'A' group

Rites Ltd, Mphasis Ltd, Blue Dart Express Ltd and Time Technoplast Ltd are among the other losers in the BSE's 'A' group today, 18 September 2024.

The Economic Times

Mphasis shares drop 6.17% as Sensex falls

The stock quoted a 52-week high of Rs 3186.95 and a 52-week low of Rs 2068.45.

The Economic Times

Mphasis appoints Ajay Arya to head M&A

“Ajay will be based in New York and lead the entire process, including strategy, evaluation, deal sourcing, negotiation, diligence management and post-merger integration,” the company said.

The Economic Times

Share price of Mphasis jumps as Sensex gains 69.81 points

Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 18.32 per cent and 22.75 per cent, respectively.

Business Standard

India well-poised to benefit from new jobs emerging with AI: Meta India V-P

India is well-poised to take advantage of new jobs that emerge from advent of Artificial Intelligence (AI), according to Meta India Vice President Sandhya Devanathan. In an interview to PTI, Devanathan weighed in on raging debate around AI and its impact on jobs, saying she is of the firm belief that AI would now lead to new opportunities for India. "I think that India is potentially well-poised to take advantage of new jobs that could come up with AI," she said. Devanathan said that the nature of jobs may change, however. "I think it offers opportunities for new kind of jobs to get created...jobs may change in terms of what they look like, but there will be new things that could end up coming up as a result of that (AI)...and it would lead to new opportunities for us as a country," she said. The views assume significance in the backdrop of persistent debate in tech circles and civil societies on whether AI will augment the labour market or displace workers. The Economic Survey i

The Economic Times

Mphasis shares gain 0.23% as Sensex rises

A total of 2,260 shares changed hands on the counter till 01:02PM (IST)

Mint

Nifty IT touches fresh all-time high, 5 stocks including MphasiS, Coforge reach new 52-week highs

5 stocks, including MphasiS, Coforge, Persistent Systems, HCL Technologies, and LTIMindtree, have reached new 52-week highs during the session. This rally has pushed the Nifty IT index to a 22.31% year-to-date gain, surpassing the Nifty 50's increase of 16%.

Mint

Will a surprise uptick in August CPI inflation put RBI rate cut timeline in a limbo?

August's unexpected rise in inflation, driven by higher food prices, raises doubts about the timing of RBI's anticipated rate cuts. While easing global crude prices may offer some relief, persistent food inflation could delay monetary policy adjustments.

The Economic Times

Mphasis shares rise 2.22% as Sensex slides

A total of 2,322 shares changed hands on the counter till 11:15AM (IST)

The Economic Times

Mphasis shares up 0.58% as Nifty gains

The stock quoted a 52-week high price of Rs 3164.4 and low of Rs 2068.45.

The Economic Times

Don’t expect more than 25 bps Fed rate cut now; big collapse in crude prices unlikely: Arnab Das

Global Macro Strategist Arnab Das from Invesco discusses the synchronized slowdown of major oil consumers and its impact on demand. He anticipates a 25 basis point rate cut by the Federal Reserve, citing persistent inflation in housing costs. Das also comments on the stability of oil prices amid geopolitical tensions and market dynamics.

The Economic Times

Buy Persistent Systems, target price Rs 6030: JM Financial

Persistent Systems Ltd. key Products/Revenue Segments include Software Services and Software Licence for the year ending 31-Mar-2024.

Business Line

Broker’s call: Persistent Systems (Buy)

JM Financial

The Economic Times

Persistent growth momentum to continue as JM Financial sees 13% upside potential

JM Financial forecasts a 13.4% upside for Persistent Systems (PSYS) with a target price of Rs 6,030, citing strong deal wins and stable revenue momentum. Expected to achieve a 15.5% EBIT margin by FY25, PSYS shows promising medium-term growth.

Business Standard

Persistent Systems hits new high on buying SoHo Dragon assets worth $4.7 mn

The total purchase consideration payable for the acquisition is $4.70 million

Mint

Mid-cap IT stock surge: Persistent Systems share price hits 52-week high. Here's why

Mid-cap IT stock surges: Persistent Systems' share price surged to a 52-week high on September 11 following the announcement of its acquisition of SoHo Dragon Inc. The $4.7 million ( ₹39 crore) deal is expected to boost the company's revenue and strengthen its position in the BFSI sector.

The Economic Times

IT stocks close to peak multiples; a stock-selective approach is better: Apurva Prasad

Apurva Prasad of HDFC Securities suggests that IT companies with higher BFSI exposure, such as TCS, might exceed earnings expectations. He notes that the sector's growth and earnings cuts have stabilized. Mid-tier firms like Persistent Systems continue to perform well. Due to high valuations, a selective investment strategy is recommended.

The Economic Times

Put IT stocks on your radar as cos seen on cusp of a recovery: Motilal Oswal

Motilal Oswal Financial Services anticipates a recovery in the IT sector, citing a rebound after a phase of discretionary spending cuts, with HCL Technologies, LTI Mindtree, and Persistent Systems as top picks, and an upgraded ‘Buy’ rating for Coforge. The firm believes the sector is poised for sustained growth over the next 2-4 years.

CNBC TV18

Persistent Systems to acquire assets of SoHo Dragon in $4.7 million deal

Persistent Systems' BFSI segment contributes 31% to the company's overall topline, while its exposure to the US BFS segment stands at 24%, according to a recent note by JPMorgan.

The Economic Times

Mphasis to double presence in UK with innovation hub for quantum expertise

Mphasis said in a regulatory filing that it has expanded its UK presence over the past years and looks to double the headcount over the next three years through the London innovation hub. While the exact headcount in UK was uncertain, Mphasis employed a total workforce at 31,645 as of June end, down by 1,019 employees from the March quarter.

Business Standard

Indian IT services industry to deliver 4-6% revenue growth in FY25: ICRA

The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. Despite expectations of continued subdued growth, ICRA has maintained its "stable outlook" on the Indian IT services industry, led by a well-established business position, expectation of healthy earnings and cash flow generation, and strong balance sheets of sector players. "ICRA expects FY2025 to be the second consecutive year of muted revenue growth (for its sample set companies), estimated at 4-6 per cent, given the lower discretionary technological spends by clients amidst persistent macro-economic ...

CNBC TV18

These IT stocks have highest exposure to the BFSI segment

From Mphasis to Coforge, these Indian IT companies have the highest exposure to the Banking, Financial Services and Insurance (BFSI) segment.

The Economic Times

Mphasis declines 0.62% as Sensex slides

The stock traded at a P/E multiple of 37.1, while the price-to-book value ratio stood at 5.13.

The Economic Times

Mphasis shares down 0.11% as Nifty drops

A total of 4,950 shares changed hands on the counter till 01:13PM (IST).

Business Standard

PV retails dip 5% in August; Fada raises alarm over rising inventory level

Passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body FADA said on Thursday. The overall passenger vehicle (PV) registrations last month stood at 3,09,053 units, as compared to 3,23,720 units in August 2023. "Even with the arrival of the festive season, the market remains under significant strain... Inventory levels have reached alarming levels, with stock days now stretching to 70-75 days and inventory totalling 7.8 lakh vehicles, valued at an alarming Rs 77,800 crore," Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement. Rather than responding to the situation, PV Original Equipment Manufacturers (OEMs) continue to increase dispatches to dealers on a month-on-month basis, further exacerbating the issue, he added. "FADA urgently calls upon all banks and NBFCs to intervene and immediately .

The Economic Times

Canara Bank, Mphasis among 5 stocks with short buildup

A short buildup occurs when there is a rise in open interest and trading volumes, coupled with a decrease in the price of the underlying stock in the F&O segment.

CNBC TV18

Medi Assist Healthcare Services Block Deal | 13.5% equity worth ₹580.5 crore changes hands

Medi Assist Healthcare Services Share Price | On Monday, sources had told CNBC-TV18 that Bessemer India had launched a block deal in Medi Assist Healthcare Services. Sources said the deal size was to be ₹540.94 crore, with shares being offered at a floor price of ₹570 per share, a 7.7% discount to Monday's closing price.

CNBC TV18

Bessemer India launches ₹540.94-crore block deal in Medi Assist Healthcare at ₹570 per share

This price represents a 7.7% discount to Medi Assist's most recent closing price. Shares of Medi Assist Healthcare Services Ltd ended at ₹613.45, up by ₹23.80, or 4.04%, on the BSE.

Business Standard

Persistent Systems Ltd soars 2%, rises for third straight session

Persistent Systems Ltd is quoting at Rs 5179.4, up 2% on the day as on 12:49 IST on the NSE. The stock is up 92.88% in last one year as compared to a 31.09% gain in NIFTY and a 37.18% gain in the Nifty IT index.

The Economic Times

Persistent Systems, Alkem Laboratories among 6 midcap stocks hit all-time high on Thursday

Domestic equity benchmarks Sensex and Nifty hit record highs on Thursday, boosted by heavyweight conglomerate Reliance Industries, which plans to step up the adoption of AI and issue bonus shares.

The Economic Times

Prabhudas Lilladher initiates coverage on 2 midcap IT stocks with with 6.5% upside potential

Domestic brokerage Prabhudas Lilladher has initiated coverage on Cyient and Persistent Systems, highlighting mid-cap IT companies' premium over large caps. They expect improved sentiment and increased discretionary spending by late FY25 or early FY26 to boost mid-cap IT performance.

Mint

Page Industries sees uptick, but growth hurdles persist

Page Industries, exclusive licensee for Jockey in India, saw its best Q1 revenue growth in seven quarters. But the company anticipates it may be tough for it to achieve the earlier stated target by FY26 amid persistent slowdown and challenges in retail across brands

The Economic Times

Shares of Mphasis fall as Nifty gains

On the technical charts, the 200-day moving average of the stock stood at Rs 2526.38.

Business Line

Medi Assist shares surge 8.88% post acquisition bid

Medi Assist Healthcare Services to acquire Paramount Health Services & Insurance TPA

Mint

Medi Assist shares jump 14% to fresh peak, largest single-day gain in 8 months. Here's why

Medi Assist Healthcare's shares surged 14% to a record ₹639 after the company announced the acquisition of Paramount Health Services. This deal is expected to boost Medi Assist's market share to 36.6% in the group segment and 23.6% overall in health insurance premiums.

Business Standard

Medi Assist Healthcare jumps after arm inks pact to acquire Paramount TPA

Medi Assist Healthcare Services rallied 8.65% to Rs 609.65 after the firm's subsidiary, Medi Assist Insurance TPA has entered into share purchase agreement for 100% acquisition of Paramount Health Services & Insurance TPA (Paramount TPA).