The benchmark gauge for information and technology stocks, the Nifty IT index, has slipped into the bear market territory after the sharp fall in the previous session. From its high, the index has tumbled over 21 percent, with almost three percent of the losses reported in trade yesterday. The fall in the Nifty IT index has led to around Rs 8.4 lakh crore in wealth being wiped out.Further, nine of...

Despite the massive turmoil seen in IndusInd Bank shares, following the discrepancies noted in the private lender's derivatives portfolio, international brokerage CLSA has maintained its outperform rating on the stock.However, the brokerage did cut its target price on IndusInd Bank shares to Rs 900, down from Rs 1,300 earlier. This implied an upside of around 31 percent from the previous session's...

Leading cables and wires manufacturer Polycab India has bagged an order worth approximately Rs 3,003 crore from BSNL, the company announced in an exchange filing on March 13.The stocks are trading modestly higher by over 0.70 percent in early trade.The exchange filing said Polycab India has signed an agreement with BSNL to serve as the Project Implementation Agency (PIA) for the design, supply, co...

Shares of Tata Steel rose 2 percent to emerge as one of the top gainers on the Nifty 50 on March 13, buoyed by JPMorgan's upward revision in its target price for the stock.International brokerage JPMorgan raised its price target for the stock to Rs 180, reflecting an upside potential of around 20 percent from Wednesday's closing price. That aside, the firm retained its 'overweight' call on the sto...

HDFC AMC's share price extended its losses to fall up to 3 percent in Thursday's trade as the monthly systematic investment plan (SIP) inflows into mutual funds fell to a three-month low of Rs 25,999 crore in February as market selloff intensified. The SIP inflows in January stood at Rs 26,400 crore, a tad lower from December’s Rs 26,459 crore.Equity mutual fund inflows in February slumped 26 pe...