Skill development has always been crucial, but recent technological advancements have r<keyword id="6355999" type="General" weightage="20" keywordseo="ai" source="Orion">ai</keyword>sed the stakes. We are currently in the midst of the fourth industrial revolution, where automation and breakthroughs in artificial intelligence (AI) are revolutionising the workplace. In this era of quick change and short half-life of skills, upskilling shouldn't be an afterthought. Instead, reskilling and upskilling have to evolve into requirements for effective professional development. To understand the significance of upskilling for your career trajectory, it is important to recognise the ever-evolving nature of technology and the rapid pace of digital transformation. Business Insider India has been exploring how businesses and thought leaders are driving innovation by educating their staff on the technologies and skills that will shape the future. In a panel discussion, <keyword id="17585437" type="General" weightage="80" keywordseo="merlyn-mathew" source="Orion">Merlyn Mathew</keyword>, Head of Delivery Excellence and Talent Supply Chain at <keyword id="119815" type="General" weightage="50" keywordseo="persistent-systems" source="Orion">Persistent Systems</keyword> highlighted the changing dynamics of the industry when it came to leveraging upskilling to support their operations. She said, "The industry has changed in the last two and a half decades. When I first started working, it was all about technology, programming languages, and getting the job done offshore with little exposure to the client's end users. Employee roles were thus constrained, but digital transformation brought about the necessity for employees to improve themselves on a regular basis and adapt to different duties under the canopy of one position. A product development role today includes end-to-end product ownership, which involves client management and defining the end customer outcomes, which is now part of the complete product development lifecycle. And the training must be conducted accordingly." <cmsannotation type="cmsannotation" annotationid="The disruptive impact of technology" comment="subhead" text="The disruptive impact of technology">The disruptive impact of technology</cmsannotation> The job economy is being radically disrupted by evolving technologies. Keeping up with the pace of digital change poses a big employee training challenge for every organisation, as technology not only generates great business opportunities, but also obstacles and skill gaps for today's workforce. "The pace of change in technology has accelerated like never before," says <keyword id="17886785" type="General" weightage="80" keywordseo="manoj-shikharkhane" source="Orion">Manoj Shikharkhane</keyword>, Chief HRO, LTIMindtree, "so much so that the hype-cycle time of certain technologies has become shorter as opposed to the linear progression of technology two decades ago." He added that skilling, cross-skilling, upskilling, and reskilling have become imperative for staying relevant in today’s workforce. <cmsannotation type="cmsannotation" annotationid="The role of AI in upskilling" comment="subhead" text="The role of AI in upskilling">The role of AI in upskilling</cmsannotation> Rapid advances in artificial intelligence raises important questions on whether and how new technology impacts the need for employees to gain additional skills or retrain to succeed in an economy of the future. An increasing number of companies are pursuing such upskilling and reskilling initiatives, highlighting the importance of advancing knowledge in this area. "AI has a way of suggesting more hands-on ways to acquire knowledge based on a learner's specific needs. If the student is more visual, AI can recommend video lessons and infographics," says <keyword id="11146112" type="General" weightage="80" keywordseo="rajiv-naithani" source="Orion">Rajiv Naithani</keyword>, Chief People Officer, Infogain. Rajesh Rai, VP, People Team and Head HR, GlobalLogic chimed in that AI’s ability to provide data-backed suggestions for learning paths is a significant advantage that was not accessible earlier. He added, "AI can greatly assist employees in determining what type of learning they require now and in the future. Given the importance of technology in today's workforce, this becomes crucial. The world has progressed from being static and manual to automatic and tech-driven to the point where AI can recommend what type of learning is best for a learner." <cmsannotation type="cmsannotation" annotationid="The challenges and returns" comment="subhead" text="The challenges and returns">The challenges and returns</cmsannotation> During the panel discussion, two key questions were raised. First, whether AI can predict individual retention of an upskilling course. And second, whether it is feasible to calculate a return on investments (RoI) for upskilling initiatives. Merlyn Mathew explains that, "If AI can keep the learner involved and provide a course that helps grow his/her knowledge and curiosity, that is what will entice them to stay and complete a course. The ROI can be calculated based on the quality of deliverables provided to your customers.” "A learner does not start from zero in an organisation," says <keyword id="17886786" type="General" weightage="80" keywordseo="arushee-aggarwal" source="Orion">Arushee Aggarwal</keyword>, Head of Coursera for Business in India. She further explains, "Coursera uses AI to administer a pre-examination so that a learner does not have to start training from the beginning but may pick up where they left off in terms of knowledge. As a result, if they fall into the intermediate level, Coursera will suggest training at that level." By addressing the challenges and measuring RoI, organisations can ensure that upskilling programmes provide tangible benefits for both the employees and customers. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

The AI upskilling imperative to build a future-ready workforce

<ul><li>IT major Tata Consultancy Services (TCS) is set to kick off the December-quarter earnings season on January 9.</li><li>Analysts believe the IT services sector is staring at muted revenue growth due to Q3 being a seasonally weak quarter.</li><li>During the December quarter, the Nifty IT index rose 7.3%, outperforming the benchmark Nifty50’s 5.9% rise during the period.</li><li>Brokerages maintained their bullishness on <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> in the large-cap segment, stating that the company is likely to retain its full-year revenue growth guidance of 15-16%.</li></ul>As India’s largest IT company, Tata Consultancy Services (TCS) gets ready to kick off the earnings season on January 9, analysts suggest the IT services sector is staring at muted revenue growth in the third quarter on account of it being a seasonally weak quarter. While Tier 1 companies like TCS, Infosys and Wipro are expected to see a quarter-on-quarter revenue growth of 0.7-2.8% in constant currency terms, smaller companies like LTIMindtree are projected to report revenue growth of 2.5%. “Q3 is a seasonally weak quarter mainly due to higher furloughs. In addition, macro challenges are leading to weakness in mortgage, luxury retail, high-tech and slowdown in 5G capex,” said a report by IDBI Capital. Furlough is a leave of absence from work for which the employee is not paid. IT companies had warned of weakness in certain pockets, like discretionary spendings in sectors like banking and financial services, alongwith high-tech. Infosys had <a href="https://www.businessinsider.in/business/corporates/news/infosys-reports-4-revenue-growth-in-constant-currency-announces-9300-crore-worth-buyback-of-shares/articleshow/94838572.cms">underlined</a> it in its previous quarter earnings, but said it was “ready for all types of client work”. “The commentary on Europe was mixed as Infosys and Tech Mahindra are witnessing signs of softness in IT spends as clients are getting incrementally cautious. However, LTI-Mindtree and Wipro are still seeing tailwinds in Europe with no sign of any slowdown,” said a report by Motilal Oswal. During the December quarter, the Nifty IT index rose 7.3% – outperforming the benchmark Nifty50’s 5.9% rise during the period – aided by favorable macros and a more-or-less unchanged demand pipeline with US markets continuing to be strong. Here’s how the top five IT companies’ stocks have performed in the December quarter: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in Q3 FY23 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.34% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.23% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.61% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.71% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.75% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE According to the analysts at Investec Bank, Tier 1 IT companies could see growth in the range of 6-7%, down from 8% currently. “We don’t expect any changes to full-year revenue growth guidance of Infosys or HCL Technologies; however, the top end of the guided range is unlikely to be achieved for both in our view. Tier-2’s could see sharper revenue downgrades,” the bank said in its latest report. "IT stocks are at a crossroads. Valuations have declined appreciably, but yet appear to be fair, given the risk of demand slowdown. The saviors— cost take-out deals and margin tailwind from rupee depreciation—have not kicked in yet to the full extent. Declining growth and tepid TCV numbers do not paint a pretty picture," said a report by Kotak Institutional Equities. <cmsannotation type="cmsannotation" annotationid="Margin and supply-side pressures easing" comment="subhead" text="Margin and supply-side pressures easing">Margin and supply-side pressures easing</cmsannotation> The consensus among brokerages seems to be that margin pressures should ease for most companies, but that is more due to the depreciation of rupee against the US dollar and other currencies, apart from easing supply-side pressures. For context, the rupee depreciated 1.36% against the US dollar and 10.8% against the euro during the December quarter. However, it might still not be enough, say analysts. “While margins will improve on a QoQ basis for the entire coverage universe, we think they will disappoint vis-à-vis prior expectations. One had expected a stronger margin performance due to lack of material cross-currency headwinds in the quarter (unlike the previous two quarters), 3% QoQ depreciation of INR vs USD and operating leverage (as salary impact was largely behind),” said a report by Nirmal Bang. IT spending growth could slow down after two years of spending by companies, and the earnings visibility might not be as clear, according to Kotak Institutional Equities. Further, deals which have been in the works for multiple quarters now might take a while longer as clients reevaluate their spendings and budgets. <cmsannotation type="cmsannotation" annotationid="Brokerages bullish on Infosys – here’s what to watch out for" comment="subhead" text="Brokerages bullish on Infosys – here’s what to watch out for">Brokerages bullish on Infosys – here’s what to watch out for</cmsannotation> Brokerages, however, remain bullish on Infosys in the large-cap segment, stating that the company is likely to retain its full-year revenue growth guidance of 15-16%. “We prefer companies with a good breadth of capabilities capable of addressing both run and change spends of clients, solid execution track record and available at reasonable valuations. Infosys and HCL Tech fit our thesis and remain our top picks,” said a report by Kotak Institutional Equities. Key amongst the things to watch out for during the quarter would be the deal wins, margin outlook, and the commentary on telecom, retail and high-tech verticals. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="504213613"> $NIFTYIT.NSE With the feds continuously hiking rates. Markets are making unexpected twists and turns. A mild recession cannot be ruled out completely by the mid of 2023. That would be the point where IT stocks and/or NASDAQ will bottom out. Current earning season might just see a mix bag of results from the IT sector. Few data driven companies might just showcase good numbers while the service based companies might feel more heat. Let&#39;s hope for the best and plan for the worst. &mdash; (@FunTechAdda) <a href="https://stocktwits.com/FunTechAdda/message/504213613"> January 03, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-bharatpe-nykaa-and-more-the-revolving-door-for-top-execs-at-new-age-companies/articleshow/96728402.cms">Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies</a> <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">BharatPe CEO Suhail Sameer to step down, Nalin Negi to take over in the interim</a> <a href="https://www.businessinsider.in/business/auto/news/pv-and-2w-sales-disappoint-in-december-but-stronger-growth-ahead-say-analysts/articleshow/96732246.cms">PV and 2W sales disappoint in December, but stronger growth ahead, say analysts</a>

December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> shook the opening uncertainty to edge higher in morning trade on Thursday amid mixed global cues and increased volatility due to the monthly expiry of futures and options.</li><li>Realty, auto and energy stocks gained in morning trade while banking and FMCG stocks remained flat.</li><li>Sensex and Nifty50 were both up 0.1% to 60,368 and 17,830 points respectively.</li></ul>India’s benchmark indices Sensex and Nifty50 shook the opening uncertainty to edge higher in morning trade on Thursday amid mixed global cues and increased volatility due to the monthly expiry of futures and options. Realty, auto and energy stocks gained in morning trade while banking and FMCG stocks remained flat. Sensex and Nifty50 were both up 0.1% to 60,368 and 17,830 points respectively. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.33% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.58% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.84% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.83% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.42% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.76% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.28% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corporation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.76% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.17% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.71% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, as on April 27, 2023 Earlier on Wednesday, both the indices closed 0.3% higher led by FMCG, realty and banking stocks. Gold and silver prices cooled down considerably, with gold falling by 0.5% to ₹59,960 per gram, while silver also fell by 0.5% to ₹73,900 per kilogram. Brent crude oil fell rapidly to $77.8 per barrel on Thursday morning. <cmsannotation type="cmsannotation" annotationid="Mixed global cues" comment="subhead" text="Mixed global cues">Mixed global cues</cmsannotation> Economic concerns and banking sector jitters in the US pushed markets lower once again on Wednesday, with Dow Jones falling by 0.7% while S&amp;P 500 fell 0.4%. Healthy earnings of Google-parent Alphabet gave the tech-heavy Nasdaq a boost, lifting it by 0.5%. Markets in Asia were mixed, with Shanghai Composite rising 0.4%, while KOSPI and Taiwan Weighted rose 0.24% each. On the other hand, Nikkei 225 was down 0.23%, while Hang Seng fell 0.12%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>: India’s leading car maker <keyword id="6912" type="General" weightage="20" keywordseo="maruti" source="Orion">Maruti</keyword> Suzuki on Wednesday <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms">reported</a> a 43% year-on-year rise in fourth-quarter standalone net profit to ₹2,624 crore, beating analysts’ expectations. For FY23, net profit more than doubled to ₹8,049 crore from ₹3,766 crore, thanks to higher sales volume and improved realisations. <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>: The non-banking financial company (NBFC) giant Bajaj Finance on Wednesday reported a net profit of ₹3,158 crore for the fourth quarter, registering a 30% growth over ₹2,420 crore in the year-ago quarter and beating analysts’ estimates. The net profit was higher than the ET Now Poll estimate of ₹2,978 crore. Infosys: The IT major has partnered with Walmart Commerce Technologies to simplify customer and employee experiences for retailers. SBI Life Insurance Company: The insurer reported 15% growth in net profit for March quarter to ₹777 crore while net premium jumped 14% to ₹19,897 crore. The value of the new business grew 23% at ₹1,440 crore. HDFC Life Insurance: The company reported a net profit of ₹359 crore for March quarter, which was almost flat from ₹358 crore last year. Meanwhile, net premium rose 36% on year to ₹19,426 crore in Q4. Union Bank of India: The lender’s board has approved a fund raise of ₹10,100 crore through public issues and bonds. Earnings today: Hindustan Unilever, <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>, Axis Bank, Bajaj Finserv, Tech Mahindra, LTIMindtree, Bajaj Holdings, Shriram Finance, Trent, Indian Hotels Company, ACC among companies to report their Q4 earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms">Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles</a> <a href="https://www.businessinsider.in/finance/banks/news/bajaj-finance-reports-30-jump-in-net-profit-to-3158-crore/articleshow/99792032.cms">NBFC giant Bajaj Finance reports 30% jump in Q4 net profit to ₹3,158 crore; books record new loans in FY23</a> <a href="https://www.businessinsider.in/thelife/news/what-type-of-steps-we-should-take-after-a-vehicle-theft/articleshow/99791067.cms">Victim of a car theft? Here is all you need to know about claims</a>

Sensex, Nifty50 edge higher in morning trade amid volatility: Realty, auto stocks gain

<ul><li><keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword>’s March quarter net profit for March quarter grew 3% on year to $580 million.</li><li>Meanwhile, its revenue declined 0.3% on year to $4.8 billion during the quarter.</li><li>Adding to the woes, Cognizant says full year guidance of 2023 is expected to be $19.2 - $19.6 billion, which would mean a decline of 1.2%.</li><li>Cognizant reported an operating margin of 14.6% for March quarter, which is lower than Indian IT giants TCS, Infosys, HCL Technologies and Tech Mahindra.</li></ul>The trend of weak quarterly numbers continued for IT services companies and the latest one to disappoint the markets is Cognizant. The company also announced that it would layoff 3500 employees as it sees revenues slowing further in 2023. The Nasdaq-listed company’s March quarter net profit grew 3% on year to $580 million. Meanwhile, its revenue declined 0.3% on year to $4.8 billion during the quarter. The company follows a January to December accounting year. Adding to the woes, Cognizant says full year guidance of 2023 is expected to be $19.2 - $19.6 billion, which would mean a decline of 1.2%. The next quarter revenue is expected to be at $4.83 - $4.88 billion, showing a decline of 0.6% to 1.6%, or a decline of 1.0% to flat in constant currency. Cognizant reported an operating margin of 14.6% for March quarter, which is lower than Indian IT giants TCS, Infosys, HCL Technologies and Tech Mahindra. For the full year 2023, the company has guided for adjusted operating margin to be in the range of 14.2%-14.7%. Following the peer IT major’s mixed bag of earnings which expects a decline in 2023 revenues, shares of most Indian IT companies were trading lower. Indian companies monitor Cognizant’s earnings as the company is listed in the US but a majority of its operations are based in India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.98% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTIMindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.09% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.03% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE Moreover, the company informed investors that it will be laying off 3,500 employees and also reduce office space as part of the cost cutting measures. It attributed the move to its NextGen program through which it expects to simplify its operating model and optimise corporate functions. “In the second quarter of 2023, we initiated the NextGen program aimed at simplifying our operating model, optimizing corporate functions and consolidating and realigning office space to reflect the post-pandemic hybrid work environment. Our drive for simplification will include operating with fewer layers in an effort to enhance agility and enable faster decision making,” the company said in a statement. Cognizant has a total headcount of 3.51 lakh in the March quarter, which is a decrease of 3,800 from the previous quarter. Its voluntary attrition rate declined to 23% in Q1 FY23 from 30% in Q1 FY22. "Our accelerated bookings growth in the quarter, which included several large deals and a healthy mix of new and expansion work, reflects the strengths of our services, our brand, and the longstanding relationships we have with our clients. I am also encouraged by the continuing reduction in our voluntary attrition," said Ravi Kumar S, CEO at Cognizant. “Having spent more than three months assessing the business, meeting with over a hundred clients and thousands of employees, I firmly believe Cognizant has a strong foundation for accelerating growth," said Kumar S in a statement. This was the first quarter for new CEO Ravi Kumar S who assumed control on January 12 following the "involuntary termination" of former CEO Brian Humphries at a time when the industry is facing several challenges. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="526182517"> $NIFTYIT.NSE Cmp- 27836Nifty IT index made Dragonfly doji on weekly chart, RSI divergence on chart,The IT index bounces from multiple support zones, we may see Target of 28824 in upcoming days.As we look into the $CTSH (Cognizant)ResultThe company&#39;s revenue declined 0.3% year on year to $4.81 billion for the three-month period that ended in March, beating Street estimates of $4.74 billion. Revenue was down 0.7% while profit rose 11.3% on a sequential basis.On the operational front, the operating margin fell 40 bps year on year to 14.6%. This was mainly driven by higher operating expenses.But Indian IT sector looking strong for short to mid termFew of Indian IT sector i am looking for good growth in upcoming days$TCS.NSE $INFY.NSE $HCLTECH.NSE &mdash; (@KhapreVishal) <a href="https://stocktwits.com/KhapreVishal/message/526182517"> May 04, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hiring-in-it-companies-like-tcs-wipro-infosys-hcl-tech-plunges-by-66-in-fy23/articleshow/99960690.cms">Hiring in the IT sector plunges by 66% in FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titan-q4-net-profit-rises-50-to-734-crore-as-wedding-segment-makes-a-comeback/articleshow/99964029.cms">Titan Q4 net profit rises 50% to ₹734 crore as wedding segment makes a comeback</a>

Cognizant braces for slow year ahead, to cut 3,500 jobs and slash office spaces

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<ul><li><keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>’s Q4 consolidated net profit rose 10% YoY to ₹3,987 crore, as its revenues grew 10.4% YoY to ₹58,335 crore. </li><li>L&amp;T’s top and bottom line both missed analyst expectations, and its order inflows grew 3% YoY due to a slowdown in infrastructure business. </li><li>In FY24, the company says it expects its order book to grow between 10-12%, while the topline is expected to grow between 12-15%. </li><li><keyword id="173852" type="General" weightage="20" keywordseo="AM-Naik" source="Orion">AM Naik</keyword> will step down as the company’s chairman on September 30, and SN Subrahmanyan will become the CMD. </li></ul>Construction and engineering behemoth Larsen &amp; Toubro (L&amp;T) on Wednesday reported a consolidated net profit of ₹3,987 crore in Q4, rising 10% over the same quarter last year. Its net profit missed analyst<a href="https://m.economictimes.com/markets/stocks/earnings/lt-q4-results-preview-heres-what-to-expect-from-indias-largest-infrastructure-company/videoshow/100106675.cms"> estimates</a> of ₹4,339 crore. Its revenue for the quarter rose 10.4% YoY to ₹58,335 crore, once again lower than analyst estimates of ₹59,256 crore. For the full FY23, L&amp;T’s net profit came in at ₹10,471 crore, registering a growth of 21%, while its revenue grew 17% to ₹1.83 lakh crore. The company said that its performance was boosted by strong execution of infrastructure projects as well as robust momentum in the information technology and technology services segment. International revenues constituted 39% of the company’s topline during the quarter, increasing from 33% a year ago. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) margin also expanded to 12.3% in Q4 from 11.7% a year ago. For the full year of FY23, L&amp;T’s EBITDA margins shrunk to 11.3% from 11.6% in FY22. The company’s chief financial officer R Shankar Raman blamed it on elevated input materials inflation. “We did an internal assessment and with the way projects are lined up, we expect a 10-12% improvement in the order book in FY24, while revenue growth is expected to be between 12-15%,” Raman said during a post-earnings call, adding that the upcoming general elections in 2024 could have an impact on its orders. The company declared a final dividend of ₹24. It also announced that AM Naik will step down as the company’s chairman on September 30, and SN Subrahmanyan will be the chairman and managing director. <cmsannotation type="cmsannotation" annotationid="L&amp;T is banking on improved tax collections to support its capex-led growth" comment="subhead" text="L&amp;T is banking on improved tax collections to support its capex-led growth">L&amp;T is banking on improved tax collections to support its capex-led growth</cmsannotation> Despite Q4 being a traditionally strong quarter, L&amp;T reported only a marginal uptick of 3% YoY in its order inflows during Q4 – at the group level, the conglomerate received orders worth ₹76,099 crore, of which international orders constituted 47%, or ₹36,046 crore. “Going forward, improved tax collections for the government will support its capex led growth aspiration,” the company said. The company’s consolidated order book stood at ₹3.99 lakh crore at the end of Q4, with the share of international orders at 28%. “While the impact [of global crises] appears to have been contained, these uncertainties continue to undermine the confidence among consumers and businesses to spend, thereby impacting global growth,” L&amp;T said. Unlike in Q3 when L&amp;T sounded optimistic about the growth outlook, it struck a note of cautious optimism this time around. “In this backdrop, the company will focus with cautious optimism on large project wins, timely execution of its large order book, growth of its services portfolio in the stated glide path and preservation of liquidity and optimum use of capital and other resources,” it said. <cmsannotation type="cmsannotation" annotationid="Infrastructure segment sees a slowdown" comment="subhead" text="Infrastructure segment sees a slowdown">Infrastructure segment sees a slowdown</cmsannotation> Infrastructure segment contributed to over half of its order inflows in Q4, at ₹41,187 crore. But the order inflows also registered a decline of 9% when compared to the same period last year. Added to that, the EBITDA margins of the infrastructure segment contracted to 7% in Q4 from 8.2% in the same period last year. Raman maintained that the softness in this segment’s margins is due to the inflationary pressures, but noted that much of the contracts of the company have cost variation clauses built-in, which should help it relieve the inflationary pressures to an extent. On the other hand, the IT &amp; technology services segment reported a growth of 21% YoY to ₹10,645 crore. However, EBITDA margins contracted considerably here too, to 20.7% in Q4, compared to 23.3% a year ago. “The segment margin was impacted mainly due to one-time merger integration expenses in LTIMindtree and elevated employee costs,” the company said, explaining the sharp decline in this segment’s margin during the quarter, noting that 93% of the segment revenue was from international markets. L&amp;T’s energy projects segment registered a growth of 17% YoY to ₹8,892 crore during Q4 thanks to multiple international orders in the hydrocarbon business. L&amp;T’s Q4 and FY23 in numbers: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,83,341 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,56,521 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹58,335 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹52,851 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,471 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,669 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,987 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,620 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.8% </td></tr></tbody></table> Source: Company reports SEE ALSO: <a href="https://www.businessinsider.in/investment/news/investment-supertrends-2023-ai-to-digitalisation-and-green-energy/articleshow/100126382.cms">AI to digitalisation and green energy: Supertrends defining investment for today and the future</a> <a href="https://www.businessinsider.in/stock-market/news/paytm-brokerages-looking-up-to-59-growth-in-one97-communications/articleshow/100070477.cms">Paytm shares surge 5% on sustained Q4 growth, brokerages see up to 59% upside</a> <a href="https://www.businessinsider.in/business/corporates/news/britannias-q4-net-profit-rises-47-yoy-to-559-crore-on-softer-input-costs/articleshow/100017366.cms">Britannia’s Q4 net profit rises 47% YoY to ₹559 crore on softer input costs</a>

L&T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24

<ul><li>Shares of the entire IT pack companies have been beaten down significantly in 2023 due to macro headwinds.</li><li>The March quarter results of TCS, Infosys and HCL Technologies so far have also underlined the ongoing slowdown.</li><li>The IT companies in India faced the heat after the banking crisis in the US and Europe erupted.</li><li> Considering the macro economic challenges like high inflation, interest rates and banking crisis in regions, analysts expect the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> to remain watchful for at least the next few quarters.</li></ul>India’s information technology services companies have been struggling amid heightened fears of recession across developed markets and the repercussions of a banking crisis in the US and Europe. And the situation is unlikely to improve until the end of the year, analysts say. Amid the ongoing weakness in the sector, foreign portfolio investors (FPIs) have also sold their stakes in IT companies. FPIs turned bearish on the IT and oil and gas sector in March – between these two sectors, they <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-it-oil-gas-stocks-worth-13734-crore-in-march/articleshow/99375107.cms">sold equities worth ₹13,734 crore. </a> Analysts expect pain to continue till end of 2023 Considering the macro economic challenges like high inflation, interest rates and banking crisis in the US and European regions, analysts expect it will be a watchful few quarters for the IT sector. "The biggest issue in the IT sector is growth slowdown and possibility of recession. So, as long as the slowdown persists and global growth remains uncertain, the market will expect lesser order flow, slower execution and pricing challenges. All these three factors will lead to IT companies suffering and valuations may also not expand. Investors will have to remain watchful for one to two quarters till there is some clarity on the global growth scenario," Deepak Jasani, head of retail research at HDFC Securities told Business Insider India. The IT majors’ recently-posted fourth-quarter results and FY24 growth predictions tell their own story about the sector’s ongoing struggles. For FY23, IT major Infosys reported a growth of 15.4% in constant currency terms, lower than the guidance of 16-16.5% that it had given <a href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">at the end of Q3</a>. Besides, it guided for a 4-7% revenue growth in FY24. This is the first time since FY16 that Infosys has guided for single-digit revenue growth in constant currency terms. Bigger rival Tata Consultancy Services (TCS) reported a 11-quarter low constant currency revenue growth at $7.2 billion in Q4. TCS’ outgoing chief executive officer Rajesh Gopinathan said in a post-earnings conference that the company is seeing stress in one of its largest markets, North America. The recovery that the company had expected had not yet materialised. According to Sanjeev Hota, vice president, head of research at Sharekhan BNP Paribas, told Business Insider India, the macro uncertainty faced by the sector is unlikely to get better before 2-3 quarters. “(For) the entire calendar year, things look dicey and the industry may witness some kind of stability by the fag end of this year. US, North America, which are among the biggest markets for the sector, are not expected to improve in the near term." Banking crisis could impact June-quarter earnings The global growth slowdown has worked its way into the stock market performance of these companies with shares of the entire IT pack being beaten down significantly in 2023. The Nifty IT index is down 30% so far this year compared to a 3% fall in the broader Nifty50 index. The IT companies in India faced the heat after the banking crisis in the US and Europe erupted in March, triggered by the collapse of Silicon Valley Bank and Signature Bank in the US and the turmoil at Swiss lender Credit Suisse. IT majors like TCS, Infosys and Wipro have also neared their 52-week low since March considering IT companies’ exposure to US banks amid the banking sector crisis. BFSI clients are among the Indian IT companies’ largest clients. "Most of the price damage in the IT stocks has already been done. However, outperformance of the sector from the current level seems restricted till global macro headwinds stabilises. The sector valuation multiple is driven by earnings growth and if growth tapers off, there are little chances of the (IT) stocks outperforming the broader market indices,” added Hota. He, however, recommends staggered buying in TCS among the large caps and Persistent Systems from the mid-cap stocks, for long-term investors. The lower-than-expected growth in March quarter for sector leaders Tata Consultancy Services (TCS), Infosys and HCL Technologies have underlined the ongoing slowdown. And analysts see this spilling over to the next quarter as well. “The banking crisis in US regional banks and European banks in March 2023 has induced greater caution and could impact the June 2023 quarter. We would not be surprised by a weak US performance across companies that are likely to report in the coming days,” said a report by Kotak Institutional Equities. Analysts at JP Morgan have also highlighted the weakness in banking, financial services and insurance (BFSI) and telecom verticals, which would impact Tech Mahindra and Mphasis as they have high exposure to these verticals. Stock movement of IT companies in 2023 so far <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock performance in 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Technology Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTIMindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.56% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.92% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.32% </td></tr></tbody></table>Source: NSE SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/insider-reviews/first-day-first-show-business-insider-sent-its-mystery-shopper-to-apples-flagship-store-in-mumbai-and-was-surprised/articleshow/99682868.cms">First day, first show: Business Insider sent its mystery shopper to Apple’s flagship store in Mumbai and was surprised</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-net-profit-grows-1-7-sequentially-at-4716-crore-in-q4-fy23/articleshow/99674353.cms">Reliance Jio Q4 net profit grows 1.7% sequentially to ₹4,716 crore; ARPU up marginally</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a>

India’s IT sector likely to face macro headwinds until end 2023, say analysts

<ul><li>Construction and engineering behemoth <keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword> on Monday reported a consolidated net profit of ₹2,553 crore for the December quarter. </li><li>Its revenue grew 17% YoY to ₹46,390 crore during the quarter, driven by an improvement in the execution of infrastructure projects. </li><li>The company said it remains optimistic about growth prospects on the back of an expected revival in India Inc’s capex cycle.</li><li>The company’s CFO R Shankar Raman is optimistic about exceeding the order inflow guidance of 12-15% for full FY23. </li></ul>Construction and engineering behemoth Larsen &amp; Toubro (L&amp;T) on Monday reported a consolidated net profit of ₹2,553 crore for the third quarter, rising 24% over last year, boosted by infra projects and IT &amp; technology services segment. The company said it remains optimistic about exceeding its order inflow guidance for FY23. The company said it gained from an improvement in the execution of infrastructure projects as well as continued momentum in the information technology and technology services segment. Its revenue for the quarter rose 17% YoY to ₹46,390 crore. International revenues remained consistent and constituted 37% of the company’s topline. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) margin contracted slightly during the quarter – L&amp;T reported EBITDA margins of 10.92% in Q3, down from 11.4% a year ago. While Q4 is a traditionally strong quarter for L&amp;T, the company’s chief financial officer, R Shankar Raman was optimistic about exceeding the order inflow guidance of 12-15% for FY23 . “All that I can mention is we will exceed the order guidance that we have given, but by how much, I don’t know. That would be speculative, but there is no concern.” <cmsannotation type="cmsannotation" annotationid="‘Major private capex investments are likely’" comment="subhead" text="‘Major private capex investments are likely’">‘Major private capex investments are likely’</cmsannotation> L&amp;T reported a 21% YoY growth in its order inflows – at the group level, the conglomerate received orders worth ₹60,710 crore, of which international orders constituted 25%, or ₹15,294 crore. "This growth [in order inflows] was largely driven by an uptick in the orders from the domestic markets. Traditionally, Q4 is a big quarter for us for new projects, and we hope that trend continues," Raman said. The company’s consolidated order book stood at ₹3.87 lakh crore at the end of Q3, with the share of international orders at 26%. “Bulk of the order book that we have are in areas where there has been a significant attention paid for completing the projects and that augurs well for the revenue visibility of the company,” Raman said during the post-earnings call, projecting optimism about the company’s topline prospects. L&amp;T is banking on the<a href="https://www.businessinsider.in/stock-market/news/from-sbi-to-icici-indian-banks-are-entering-an-earnings-upgrade-cycle-says-morgan-stanley/articleshow/94049013.cms"> revival</a> of India Inc’s capital expenditure cycle – earlier, a report by the Reserve Bank of India underlined that the various initiatives of the government and<a href="https://www.businessinsider.in/stock-market/news/capital-intensive-cyclical-and-value-stocks-to-continue-their-outperformance/articleshow/95659482.cms"> improved corporate balance sheets</a> are expected to revive the capex upcycle. “Major private capex investments are likely in energy transformation, emerging tech, healthcare, logistics, industrial parks, data centres etc., which augurs well for the EPC and construction business,” L&amp;T said, expressing optimism about its growth outlook. <cmsannotation type="cmsannotation" annotationid="Infrastructure and IT segments drive growth in order inflows" comment="subhead" text="Infrastructure and IT segments drive growth in order inflows">Infrastructure and IT segments drive growth in order inflows</cmsannotation> The stars of L&amp;T’s Q3 were the infrastructure and IT segments – over half the order inflows during the quarter were in the infrastructure segment, at ₹32,530 crore, recording a growth of 28%. The EBITDA margins of the infrastructure segment contracted to 7% in Q3 from 7.1% in the same period last year. Raman said the softness in this segment’s margins is due to the inflationary pressures, but noted that much of the contracts of the company have cost variation clauses built-in, which should help it relieve the inflationary pressures to an extent. On the other hand, the IT &amp; technology services segment reported a growth of 25% YoY to ₹10,517 crore. However, EBITDA margins contracted considerably – to 19.2% in Q3, compared to 23.6% a year ago. “The segment margin was impacted mainly due to one-time merger integration expenses in LTIMindtree,” the company said, explaining the sharp decline in this segment’s margin during the quarter, noting that 93% of the segment revenue was from international markets. L&amp;T’s energy projects segment registered a growth of 12% YoY to ₹9,051 crore during Q3, primarily on account of a large domestic order in the hydrocarbon business. L&amp;T managed to reduce its net working capital during the December quarter, allowing it to deliver a better return on equity to its shareholders. Its net working capital stood at 19% in the December quarter, down from 22.9% a year ago. “Considering the scale and complexity of the organisations and businesses L&amp;T runs, this is a significant reduction in the resource deployment of the company,” said Raman. L&amp;T’s Q3 in numbers: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY23 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY22 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹46,390 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹42,763 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹39,563 crore </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,553 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,229 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,055 crore </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net margin </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.5% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr></tbody></table> Source: Company reports SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-witness-high-volatility-amidst-war-of-words-between-the-company-and-hindenburg-research/articleshow/97437171.cms">Adani Group stocks witness high volatility amidst war of words between the company and Hindenburg Research</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-companies-lose-3-22-lakh-crore-in-market-value-amidst-tussle-with-hindenburg-research/articleshow/97374612.cms">Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-20000-crore-fpo-now-open-analysts-maintain-cautious-optimism/articleshow/97369358.cms">Adani Enterprises’ ₹20,000 crore FPO now open, analysts maintain cautious optimism</a>

L&T reports ₹2,553 crore Q3 net profit, sees boost from major private capex investments

<ul><li>India’s benchmark indices Sensex and Nifty50 managed to outperform most of the global markets in 2022.</li><li>Driving the rally in Indian markets were stocks of companies from the Adani Group, banks, oil &amp; gas and the FMCG sectors.</li><li>On the other hand, the IT and new-age companies witnessed a decline in 2022.</li></ul>India’s benchmark indices Sensex and the Nifty50 have been amongst the best performers this year when compared to the major stock markets of the world, with gains of nearly 5% till date. Driving the rally were stocks across key sectors like bank, oil &amp; gas, fast moving consumer goods (FMCG) and public sector enterprises. The top ten best performing stocks in the Nifty100 universe includes Adani Enterprises and Adani Transmission, which have also emerged as the<a href="https://www.businessinsider.in/business/corporates/news/two-adani-group-companies-rule-as-the-top-all-round-wealth-creators/articleshow/96109684.cms"> leading all-round wealth creators</a> between 2017-22, according to a Motilal Oswal report. <cmsannotation type="cmsannotation" annotationid="Adani Group stocks dominate" comment="subhead" text="Adani Group stocks dominate">Adani Group stocks dominate</cmsannotation> Overall, there are four Adani Group companies figuring in the list of the top ten best performing stocks in the Nifty100 this year, with their share prices gaining between 54-135%. Other top-performing stocks this year include Hindustan Aeronautics, a state-owned aerospace and defence company, which reported a 44% rise in its Q2 FY23 profit to ₹1,221 crore and a strong order book of nearly ₹8,400 crore. Coal India is another public sector company making it to the list with gains of 58% as the company benefited from rise in domestic coal demand. Overall, the oil and gas sector witnessed a drastic expansion in its gross margins to 19.6% in FY22 from 3.4% in FY21, and estimated to only slightly contract to 16.1% in FY23, according to Motilal Oswal. <cmsannotation type="cmsannotation" annotationid="Best and worst performing stocks of 2022 on the Nifty100" comment="subhead" text="Best and worst performing stocks of 2022 on the Nifty100">Best and worst performing stocks of 2022 on the Nifty100</cmsannotation> On the other hand, IT stocks and new-age companies dominated the list of the worst performers in 2022 in the Nifty100 universe. <div type="image" title="best-n-worst-nifty" msid="96332700" hostid="261" caption="&amp;lt;p&amp;gt;Best and worst performing stocks of Nifty100 in 2022&amp;lt;/p&amp;gt;"></div> Topping the list is One 97 Communications, the Paytm operator, with a 62% decline as it battles Google Pay and PhonePe on one side (in terms of UPI payments), and the upcoming challenge from Mukesh Ambani’s Jio Financial Services, which could emerge as the fifth largest financial services company in India in terms of net worth, upending Paytm’s financial services business. Other notable losers in the year include Zomato, Nykaa operator FSN E-Commerce, and IT companies Wipro, Tech Mahindra, Mphasis and LTIMindtree. Interestingly, research firm Jefferies has Zomato amongst its top picks, calling it an “unloved stock” and that its valuation is now justified after the stock has seen a 60% correction from its peak. “We also see a consistent improvement in profitability in food delivery despite a strong 30% compounded annual growth rate over FY22-25E,” said a Jefferies report. <cmsannotation type="cmsannotation" annotationid="What’s in store for 2023?" comment="subhead" text="What’s in store for 2023?">What’s in store for 2023?</cmsannotation> Analysts recommend investors exercise caution in 2023 when it comes to Indian equity markets. “We expect weakness in tech stocks to continue on account of weak growth outlook. FMCG stocks are expected to do well on the back of fall in commodity prices and improving demand," said Siddhartha Khemka, head - retail research, Motilal Oswal. Analysts at Jefferies believe that the Nifty50 will remain range-bound between 18,000-19,000 in 2023. “With India among the best performing markets globally in 2022 and hitting new highs recently, valuations at 20x PE and 225 bps on yields gap are trending above 1 standard deviation levels, and remain a key overhang for market performance in 2023,” said Mahesh Nandurkar, head of research at Jefferies. Overall, the research firm says it is “overweight” on stocks in the telecom, consumer staples and discretionary, real estate and utilities sectors. It remained “neutral” on the financial services sector, and stated it is “underweight” on IT, energy, healthcare and materials sectors. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="501331221"> $ADANIENT.NSE has created immense wealth for its investors and continues to hold on to its levels. I believe that if the stock doesn&#39;t show sign of weakness it would be foolish to go against this sort of momentum. Keep a stop loss at 3800 and continue to hold your existing positions. Building new positions in this one might be a bit risky but the Stop Loss is small and those interested can take the risk. &mdash; (@thebullofdalalstreet) <a href="https://stocktwits.com/thebullofdalalstreet/message/501331221"> December 14, 2022</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/two-adani-group-companies-rule-as-the-top-all-round-wealth-creators/articleshow/96109684.cms">Two Adani Group companies rule as the top all-round wealth creators – here are a few other unexpected entries</a> <a href="https://www.businessinsider.in/business/auto/news/november-2022-registers-best-ever-auto-sales-except-march-2020-fada/articleshow/96103887.cms">Festive baton shifts to Great Indian Wedding Season, November registers best-ever auto sales, except March 2020: FADA</a> <a href="https://www.businessinsider.in/business/corporates/news/ril-adani-enterprises-are-the-biggest-and-most-consistent-wealth-creators-as-per-motilal-oswal-report/articleshow/96085753.cms">RIL, Adani Enterprises are the biggest and most consistent wealth creators: Motilal Oswal</a>

You Searched For "ltimindtree" and got 9 results

The AI upskilling imperative to build a future-ready workforce

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December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks

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Sensex, Nifty50 edge higher in morning trade amid volatility: Realty, auto stocks gain

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Rounak

Cognizant braces for slow year ahead, to cut 3,500 jobs and slash office spaces

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MFs add shares of Indigo, Paytm, PVR & Nazara Technologies among others in February

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L&T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24

Rounak Jain

India’s IT sector likely to face macro headwinds until end 2023, say analysts

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L&T reports ₹2,553 crore Q3 net profit, sees boost from major private capex investments

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Best and worst performing stocks of 2022

Rounak Jain