It’s a rather slow session for the markets, with the Nifty and Sensex hovering around key support zone. The small and the midcaps too are muted in today’s session. The market is almost in a holiday mood ahead of the upcoming Independence Day holiday. However, there are some counters that are buzzing in trade today –
Infosys, Wipro
The entire list of information and technology sector stocks are up and about in trade today. The Infosys share price is up about 2% after it announced its joint venture with Australia’s Telstra. The partnership is aimed at accelerating AI-led cloud and digital transformation for the company. Nomura has a Buy on Infosys now with a target price of Rs 1,880 per share. The gains in Infosys were also followed by another 2% gain in Wipro share price as well.
Newgen Software
Newgen Software is among the biggest tech gainers in trade today. The share price of Newgen Software has rallied close to 7%. It has seen a significant rebound after 6-days of decline. The street is responding to the company showing some signs of recovery amid mixed long-term performance trends.
Vodafone Idea
Key telecom play, Vodafone Idea slipped to a fresh 52-week low in today’ session. The share price of Vodafone Idea slipped to the lows of Rs 6.12 per share intra-day. The company had been in the news after it acquired a 26% stake in Aditya Birla Renewables SPV 3. This SPV or special purpose vehicle, has been put together to set-up and operate a special purpose vehicle.
Muthoot Finance
The share price of Muthoot Finance has seen a strong jump in intra-day trade. The shares hit a fresh 52-week high after Q1 results. The strong gold loan growth of 40% YoY, with improving new customer additions, is helping the company clock strong quarterly performance.
Vishal Mega Mart
The Vishal Mega Mart share price hit a fresh 52-week high i trade today and is up nearly 2%. Motilal Oswal has a Buy on the stock with a target price of Rs 165 per share. The stock is also set to be part of the MSCI Global Standard Index from August 26.