Motilal Oswal Financial Services Limited

1) Tech stocks are witnessing smart rally today after TCS announced strong Q2 results. TCS reported Dollar revenue growth 7.1% to $5,420 million while expectation $5287mn. Company reported EBIT margin at 26.2% from 23.6% (QoQ) while expectation 24.8. Market hope of other tech players will be announced good quarterly results. Wipro will announceQ2 results on 13th October and Infosys on 14th October (ADR up 5%). 2) Newly-appointed SBI chairman Dinesh Kumar Khara said that the lender's business has recovered to around 70-80% of pre- Covid levels. Khara said his focus would be on credit quality, preservation of net interest margins (NIMs) and employee safety in view of the pandemic. Credit at the lender is growing in the range of 6-7% and the retail segment is holding up well, Khara said, pointing to the fact that much of corporate demand for debt is moving to the markets. The bank has already provided for all its legacy accounts and its corporate provision coverage ratio (PCR) is around 85% and overall PCR is 83%. #MOMarketUpdates #MotilalOswal #IndianStockMarket #Nifty #sensex #SBI #Techstocks #TCS #HCL

As the world highly depends on technology during Covid-19, the technology stocks the IT stocks are gaining attention. HCL has hit a 52-week new high. #MOMarketUpdates #MotilalOswal #ITstocks #indianstockmarket #stockrecommendation #HCL #TCS

HCL Tech Sees 2Q Rev Growth Over 3.5% Q/q in Constant Currency. Revenue growth to be a result of "broad-based momentum across all service lines, verticals and geographies," HCL Technologies Ltd. says in a statement to exchanges. Company Says EBIT margin for the current quarter is expected to be between 20.5% and 21%. "Good Booking momentum continues this quarter, led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals," HCL Tech says. "The pipeline continues to look healthy across service lines, verticals and geographies," according to the statement.TCS became the second Indian firm to attain a market valuation of over Rs 9 lakh crore after Reliance Industries. The NiftyIT Index gained today more than 4% as companies present strong quarterly results & projections. #MOMarketUpdates #MotilalOswal #NiftyIT #Indianstockmarket #Itcompanies #HCL #TCS #NSE #BSE #Infosys

Tech Stocks - Northbound journey continued in the tech stocks after better than expected Q1 results announced by Infosys, HCL Tech and Wipro. Both the Tech giants Infosys and HCL Tech closed on a record high today. HDFC Bank- HDFC Bank reported Q1 net profits at Rs6660cr grew at 19.6% YoY (inline to our estimates at Rs6680cr) , NII growing at 8% YoY (3% QoQ) to Rs15660cr (expectation Rs15390cr). Other income declined 18% YoY to Rs4070cr (34% below estimates at Rs6140cr) affected by decline in fees & commission income (37% YoY/49% QoQ decline) due to lockdown . Total provisions spiked to Rs3890cr (49% YoY increase) – Expectation Rs4150cr. GNPA at 1.4% vs 1.3% (QoQ) – expectation 1.3%. NNPA at 0.3% vs 0.4% (expectation 0.4%). #MOMarketUpdates #HDFCBank #HCL #Infosys #MotilalOswal #Indianstockmarkets #nifty #sensex #nifty50 #nse #bse