Last Wednesday, the benchmark indices witnessed range-bound activity. The Nifty index ended 39 points higher while Sensex was up by 148 points. Among sectors, buying interest was seen in Pharma and PSU Banks stocks whereas intraday profit booking was seen in Media and Realty stocks. Technically, after a gap-up opening the market witnessed profit booking at a higher level. However, the intraday for...

In the Union Budget 2023, FM Sitharaman announced an agricultural accelerator fund that would provide a boost to the agritech startups. FM Sitharaman further stated that the Farm Credit Limit for FY24 will be raised to Rs 20 lakh crore, which will pose as a significant benefit for agrochem and seed companies. Agricultural companies and firms producing other agricultural products have jumped sharpl...

Tech Mahindra (TechM) posted revenue growth of 4.9% q-o-q (5.4% in CC) to $1.61 bn, marginally higher than our estimate of $1.6 bn and in line with Street’s estimate of $1.61 bn. EBITDA margin edged down 80bp q-o-q to 17.2%, below our and Street’s estimate of 17.3% and 17.4%, respectively. PAT stood at Rs 15.1 bn, higher than our and Street’s estimates.Demand continues to be robust across E...

27-year-old Vidit Bhargava has been developing apps since high school. Like any student at his age, Bhargava, too, was finding it difficult to “look up” words and felt learning them could be made simpler and more straightforward. So, he started building LookUp, a dictionary app, in his final year at school. The app was released in 2014 and would go on to become part of a successful applicatio...

The world’s biggest bond market is signaling concern that Russia’s invasion of Ukraine could lead to an economic outcome the Federal Reserve is eager to avoid: persistent inflation and weak economic growth.Bond-market gauges of short-term inflation expectations jumped to a record during the past week as oil and natural gas surged in the unfolding crisis. At the same time, the gap between short...