Thank you, readers! That's all from CNBCTV18.com's live market coverage on Oct 4, 2022. Trading will resume on Dalal Street on Thursday on account of the Dussehra holiday on Wednesday.
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IT revenue to remain under pressure for at least a year: Avendus Capital's Vaibhav Sanghavi
Avendus Capital, Co-CEO of Avendus Capital Alt Strategies, believes revenues of IT companies are going to remain under pressure for at least one year, given the environment of downgraded global growth forecasts and companies facing cost pressure. "We have already seen that the margins are weak and going forward also, you might continue to see some amount of pressure there as well. So at this point in time, while IT stocks have corrected from their highs, we are still not very constructive at these levels,” he tells CNBC-TV18.
TVS Motor Company top pick from auto pack: Mehraboon J Irani
Market expert Mehraboon J Irani believes that although TVS Motor has become "a little bit expensive", it remains his top pick from the space. "It has moved up very well. I would not touch Hero MotoCorp though trading could provide an opportunity,” he tells CNBC-TV18.
Market At Close | Sensex and Nifty50 surge over 2%
Here are some highlights:
--Financial stocks outperform — Bajaj Finance and HDFC among top Nifty gainers
--All Nifty stocks except PowerGrid and DRL in the green
--IndusInd jumps five percent after lender reports rise in market share in July-Sept
--Adani Ports, TCS, Coal India and UPL top Nifty gainers
--M&M Financial surges over 11 percent following Q2 business update
--IDFC First, IDFC, L&T Finance and Zee top midcap gainers
--Marico, GSPL, Dabur and PVR top midcap losers
--MGL jumps three percent after co hikes CNG price in Mumbai by Rs 6/kg
Tracxn Technologies to launch IPO on October 10
The public offer of Tracxn Tech is entirely an offer for sale (OFS) of 3.9 crore shares by existing shareholders and promoters, which means the company will not get any proceeds from the issue. The bidding process will remain open for three trading days till October 12. (Read more)
Buy Chalet Hotels and Mazagon Dock: Equity99's Rahul Sharma
Here are two recommendations from Rahul Sharma of Equity99 Advisors:
--Buy Mazagon Dock Shipbuilders for a target of Rs 560-575 with a stop loss at Rs 490
--Buy Chalet Hotels for a target of Rs 390-400 with a stop loss at Rs 349
KEC International surges in intraday trade on getting fresh orders of over Rs 1,400 crore
Shares of KEC International touched an intraday high of over 5 percent on the BSE, a day after the company said it bagged new orders worth Rs 1,407 crore across its various businesses. (Read more)