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Tech Mahindra Ltd rose for a fifth straight session today. The stock is quoting at Rs 1582.7, up 0.4% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.27% on the day, quoting at 24172.8. The Sensex is at 77442.96, down 0.34%. Tech Mahindra Ltd has added around 10.28% in last one month.
Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has added around 4.76% in last one month and is currently quoting at 29161.85, down 0.75% on the day. The volume in the stock stood at 17.93 lakh shares today, compared to the daily average of 28.48 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 1580.1, up 0.03% on the day. Tech Mahindra Ltd is up 2.29% in last one year as compared to a 3.54% fall in NIFTY and a 21.48% fall in the Nifty IT index.
The PE of the stock is 38.68 based on TTM earnings ending June 26.
Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.
IT shares witnessed buyiung demand for second conesutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 702.13 points or 0.89% to 77,892.09. The Nifty 50 index added 197.45 points or 0.82% to 24,270.20.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.15% and the BSE 250 SmallCap Index declined 0.84%.
The market breadth was positive. On the BSE, 1,456 shares rose and 2,138 shares fell. A total of 222 shares were unchanged.
Result Today:
Reliance Industries(up 2.06%), JSW Steel(up 0.58%), Central Bank of India(down 0.06%), Federal Bank(up 1.59%), Tata Technologies(down 1.37%), Poonawalla Fincorp(down 0.18%), RBL Bank(up 0.65%), Havells India,(down 0.33%) Globus Spirits(down 1.25%), Oberoi Realty(up 0.47%), Tatva Chintan Pharma Chem(down 0.60%) and Turtlemint Fintech Solutions (down 1.34%) will announce their quarterly earnings today.
Buzzing Index:
The Nifty IT index jumped 1.26% to 29,084.75. The index jumped 1.89% in past two consecutive trading sessions.
Tech Mahindra (up 2.63%), Infosys (up 1.62%), HCL Technologies (up 1.57%), Tata Consultancy Services (up 1.48%) and Persistent Systems (up 1.24%) were the top gainers. Among the other gainers were LTM (up 0.89%), Mphasis (up 0.5%) surged.
Stocks in Spotlight:
Mahindra EPC Irrigation tanked 7.71% after the company reported a consolidated net loss of Rs 2.14 crore in Q1 FY27, compared with a net profit of Rs 0.98 crore in Q1 FY26. Revenue from operations decreased 12.70% year-on-year (YoY) to Rs 54.16 crore in Q1 FY27.
South Indian Bank fell 1.85%. The bank reported a 17.29% year-on-year increase in standalone net profit to Rs 377.63 crore in Q1 FY27, compared with Rs 321.95 crore in Q1 FY26. Total income increased marginally by 0.76% year-on-year to Rs 3,007.30 crore in the first quarter of FY27.
Revenue from operations rose 17.68% YoY and 4.22% quarter on quarter (QoQ) to Rs 15,711.9 crore in Q1 FY27 from Rs 13,351.2 crore in Q1 FY26 and Rs 15,076.1 crore in Q4 FY26.
EBITDA stood at Rs 2,742.5 crore in Q1 FY27, up 41.72% YoY and 6.91% QoQ. EBIT stood at Rs 2,264 crore during the quarter, up 8.6% QoQ and 53.3% YoY.
Profit before tax stood at Rs 2,041.9 crore in Q1 FY27, up 26.19% YoY and 14.03% QoQ.
In dollar terms, revenue stood at $1,660 million, up 2.2% QoQ and 6.1% YoY. In constant currency terms, revenue increased 2.6% QoQ and 6.6% YoY.
EBIT stood at $238 million during the quarter, up 7.1% QoQ and 38.6% YoY. EBIT margin came in at 14.4%, expanding 60 basis points QoQ and 330 basis points YoY. In rupee terms, EBIT was Rs 2,264 crore, up 8.6% QoQ and 53.3% YoY.
Operationally, total headcount stood at 146,760, down by 863 employees QoQ. LTM IT attrition was 11.8%, while days sales outstanding stood at 84 days. Cash and cash equivalents at the end of the quarter were Rs 9,695 crore.
The company's new deal wins (TCV) stood at $1,078 million during the quarter, up 33.3% YoY.
Mohit Joshi, CEO and managing director, Tech Mahindra, said, “YoY growth of 6.1% coupled with three consecutive quarters of deal wins exceeding $1 billion underscores the resilience of our business and the growing relevance of our offerings. Equally encouraging is the continued deepening of client relationships, with our $50 million-plus client base up by seven and all verticals delivering growth YoY.”
Tech Mahindra is a leading global provider of technology consulting and digital solutions, serving enterprises across industries with a strong presence in telecom, enterprise, and digital transformation services.
Infosys Ltd gained 2.91% today to trade at Rs 1112.5. The BSE Information Technology index is up 0.93% to quote at 28100.15. The index is down 0.13 % over last one month. Among the other constituents of the index, Tech Mahindra Ltd increased 2.24% and Tata Consultancy Services Ltd added 2.14% on the day. The BSE Information Technology index went down 23.2 % over last one year compared to the 5.94% fall in benchmark SENSEX.
Infosys Ltd has lost 3.94% over last one month compared to 0.13% fall in BSE Information Technology index and 0.28% rise in the SENSEX. On the BSE, 27836 shares were traded in the counter so far compared with average daily volumes of 10.29 lakh shares in the past one month. The stock hit a record high of Rs 1727.85 on 03 Feb 2026. The stock hit a 52-week low of Rs 984 on 01 Jul 2026.
IT, private bank and auto shares advanced while pharma, media and metal shares declined.
At 13:25 IST, the S&P BSE Sensex advanced 762.69 points or 0.99% to 77,949.56. The Nifty 50 index added 190.45 points or 0.79% to 24,263.20.
In the broader market, the BSE 150 MidCap Index fell 0.55% and the BSE 250 SmallCap Index fell 1.16%.
The market breadth was strong. On the BSE, 1,489 shares rose and 2,556 shares fell. A total of 191 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.58% to 13.22.
In the commodities market, Brent crude for September 2026 settlement added 22 cents or 0.26% to $84.45 a barrel.
Gainers & Losers:
Jio Financial Services (up 3.69%), Tech Mahidnra (up 3.31%), Tata Consultnacy Services (TCS) (up 3.09%), HCL Technologies (up 2.62%) and Kotak Mahindra Bank (up 2.40%) were the major Nifty50 gainers.
Dr Reddys Laboratories (down 1.58%), Wipro (down 1.42%), Cipla (down 1.31%), Hindalco Inustries (down 1.26%) and Apollo Hopsitals Enterprise (down 0.89%) were the major Nifty50 losers.
Jio Financial Services added 3.69% after the company’s consolidated net profit jumped to Rs 830 crore in Q1 FY27 from Rs 325 crore in Q1 FY26, thereby registering a growth of 156% on year-on-year (YoY) basis.
Tech Mahindra jumped 3.31% after the company reported a steady performance for the quarter ended 30 June 2026, supported by strong deal momentum and margin expansion. On a consolidated basis, profit after tax (PAT) rose 28.45% year on year (YoY) to Rs 1,465.1 crore in Q1 FY27 from Rs 1,140.6 crore in Q1 FY26. On a sequential basis, PAT increased 8.22% from Rs 1,353.8 crore in Q4 FY26.
Wipro fell 1.42% after the company reported a 4.69% decline in consolidated net profit to Rs 3,356.3 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 3,521.6 crore posted in Q4 FY26. Revenue from operations rose 1% QoQ to Rs 24,478.6 crore in the quarter ended 30 June 2026.
CEAT tumbled 6.95% after the company reported a 96.43% year-on-year decline in consolidated net profit to Rs 4 crore in Q1 FY27, compared with Rs 112 crore in Q1 FY26. Revenue from operations rose 22.36% year on year to Rs 4,318 crore in the first quarter of FY27 from Rs 3,529 crore a year earlier.
WeWork India Management fell 5.24% after the company reported a consolidated net loss for the June 2026 quarter. The company's net loss narrowed to Rs 4.31 crore in Q1 FY27 from a loss of Rs 14.10 crore in Q1 FY26. However, on a sequential basis, it slipped into a loss from a profit of Rs 65.55 crore reported in Q4 FY26. Revenue from operations increased 27.74% YoY but declined 1.76% QoQ to Rs 683.83 crore in the June 2026 quarter.
Indobell Insulations surged 10.40% after the company announced that it had secured four domestic orders worth a combined Rs 14.75 crore from Sundaram Brake Linings for the supply of nodulated wool and ceramic fibre nodules.
Polycab India declined 3.76%. The company reported 33% rise in consolidated net profit to Rs 7,96.7 crore on a 39% increase in revenue to Rs 8,209.7 crore in Q1 FY27 as compared with Q1 FY26.
Time Technoplast rose 1.38% after the company secured an order worth approximately Rs 38.14 crore from Hindustan Petroleum Corporation (HPCL) for the supply of 1.40 lakh 10-kg Type IV Composite LPG Cylinders. The order was awarded through the Government e-Marketplace (GeM) and is scheduled to be executed within six months, the company said.
Global Market:
European market mostly declined as the escalating US-Iran conflict weighed on investor sentiment, with weakness across Asian markets further reinforcing the risk-off environment.
Asian markets traded lower on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew.
Investors this week reportedly rotated out of semiconductor plays into other sectors such as banking after robust earnings from major lenders, leaving Asia vulnerable to the selloff given its heavier exposure to chips.
Markets in South Korea were closed for a holiday, after the government on Thursday announced it will temporarily ban new listings of exchange-traded funds (ETFs) that are tied to certain major technology firms, while raising minimum required deposits for retail investors to invest in such products, in an effort to curb volatility.
The U.S. began conducting a new wave of strikes against Iran on Thursday to 'further degrade Iranian military capabilities', the U.S. Central Command said in a statement.
Overnight on Wall Street, chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season.
The Dow Jones Industrial Average (DJI) fell 105.32 points, or 0.20%, to 52,553.32, the S&P 500 (SPX) lost 38.63 points, or 0.51%, to 7,533.77 and the Nasdaq Composite (IXIC) lost 387.28 points, or 1.47%, to 25,881.95.
On the data front, a spate of U.S. economic indicators released on Thursday showed solid core retail sales, a drop in jobless claims and surging manufacturing activity in the Northeast.
Less positive data came from the housing sector, with a bigger than expected drop in pending home sales and souring homebuilder sentiment reflecting high borrowing costs and strained affordability for would-be homebuyers.
Market sentiment remained buoyant ahead of Reliance Industries' June-quarter earnings, scheduled to be announced after market hours. Investors also positioned themselves ahead of the earnings reports of major private sector lenders, including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank, which are slated to announce their June-quarter results on Saturday, 18 July 2026.
Going forward, market participants will closely monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 FY27 earnings season, corporate business updates and the progress of the southwest monsoon for further cues on the market's near-term direction.
Private bank, IT and realty shares advanced while pharma, metal and consumer durables shares declined.
As per provisional closing data, the barometers index, the S&P BSE Sensex surged 964.58 points or 1.25% to 78,151.45. The Nifty 50 index rallied 261.55 points or 1.09% to 24,334.30.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.19% and the BSE 250 SmallCap Index fell 0.76%.
The market breadth was negative. On the BSE, 1,738 shares rose and 2,487 shares fell. A total of 191 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.73% to 13.24.
In the commodities market, Brent crude for September 2026 settlement added $1.44 or 1.71% to $85.67 a barrel.
IPO Update:
The initial public offer (IPO) of Caliber Mining and Logistics received bids for 83.85 lakh shares as against 78.35 lakh shares on offer, as per NSE data as of 15:30 hours on Friday (17 July 2026). The issue was subscribed 1.07 times.
The issue opened for bidding on Friday (17 July 2026) and it will close on Tuesday (21 July 2026). The price band of the IPO is fixed between Rs 402 to Rs 424 per share. The minimum order quantity is 35 equity shares.
The Nifty Private Bank Index jumped 2.31% to 28,559.45. The index declined 0.31% in the past trading session.
Federal Bank (up 6.74%), Kotak Mahindra Bank (up 3.14%), ICICI Bank (up 1.69%), Axis Bank (up 1.62%) and RBL Bank (up 1.6%), IDFC First Bank (up 1.35%), HDFC Bank (up 1.35%) and IndusInd Bank (up 1.3%) surged.
Federal Bank rallied 6.74% after the bank's standalone net profit jumped 36.57% year-on-year (YoY) to Rs 1,176.93 crore in Q1 FY27, compared with Rs 861.75 crore in the corresponding quarter last year. Total income increased 6.24% YoY to Rs 8,286.69 crore in Q1 FY27.
Jio Financial Services added 3.12% after the company’s consolidated net profit jumped to Rs 830 crore in Q1 FY27 from Rs 325 crore in Q1 FY26, thereby registering a growth of 156% on year-on-year (YoY) basis.
Tech Mahindra jumped 3.91% after the company reported a steady performance for the quarter ended 30 June 2026, supported by strong deal momentum and margin expansion. On a consolidated basis, profit after tax (PAT) rose 28.45% year on year (YoY) to Rs 1,465.1 crore in Q1 FY27 from Rs 1,140.6 crore in Q1 FY26. On a sequential basis, PAT increased 8.22% from Rs 1,353.8 crore in Q4 FY26.
Wipro fell 1.01% after the company reported a 4.69% decline in consolidated net profit to Rs 3,356.3 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 3,521.6 crore posted in Q4 FY26. Revenue from operations rose 1% QoQ to Rs 24,478.6 crore in the quarter ended 30 June 2026.
CEAT tumbled 7.29% after the company reported a 96.43% year-on-year decline in consolidated net profit to Rs 4 crore in Q1 FY27, compared with Rs 112 crore in Q1 FY26. Revenue from operations rose 22.36% year on year to Rs 4,318 crore in the first quarter of FY27 from Rs 3,529 crore a year earlier.
WeWork India Management fell 6.74% after the company reported a consolidated net loss for the June 2026 quarter. The company's net loss narrowed to Rs 4.31 crore in Q1 FY27 from a loss of Rs 14.10 crore in Q1 FY26. However, on a sequential basis, it slipped into a loss from a profit of Rs 65.55 crore reported in Q4 FY26. Revenue from operations increased 27.74% YoY but declined 1.76% QoQ to Rs 683.83 crore in the June 2026 quarter.
Indobell Insulations surged 14.82% after the company announced that it had secured four domestic orders worth a combined Rs 14.75 crore from Sundaram Brake Linings for the supply of nodulated wool and ceramic fibre nodules.
Polycab India declined 3.79%. The company reported 33% rise in consolidated net profit to Rs 7,96.7 crore on a 39% increase in revenue to Rs 8,209.7 crore in Q1 FY27 as compared with Q1 FY26.
Time Technoplast rose 2.21% after the company secured an order worth approximately Rs 38.14 crore from Hindustan Petroleum Corporation (HPCL) for the supply of 1.40 lakh 10-kg Type IV Composite LPG Cylinders. The order was awarded through the Government e-Marketplace (GeM) and is scheduled to be executed within six months, the company said.
US Dow Jones futures declined 363 points, indicating a negative start for Wall Street later today.
European market declined as the escalating US-Iran conflict weighed on investor sentiment, with weakness across Asian markets further reinforcing the risk-off environment.
Asian markets ended lower on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew.
Tech Mahindra Ltd gained for a third straight session today. The stock is quoting at Rs 1557.1, up 3.1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.92% on the day, quoting at 24294. The Sensex is at 77994.28, up 1.05%. Tech Mahindra Ltd has risen around 7.56% in last one month.
Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has risen around 2.55% in last one month and is currently quoting at 28722.6, up 1.63% on the day. The volume in the stock stood at 71.08 lakh shares today, compared to the daily average of 26.07 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 1564, up 3.58% on the day. Tech Mahindra Ltd is up 0.53% in last one year as compared to a 2.7% drop in NIFTY and a 21.41% drop in the Nifty IT index.
The PE of the stock is 36.77 based on TTM earnings ending March 26.
Mohit Joshi, CEO and managing director, Tech Mahindra, said, “YoY growth of 6.1% coupled with three consecutive quarters of deal wins exceeding $ 1 billion dollars underscores the resilience of our business and the growing relevance of our offerings. Equally encouraging is the continued deepening of client relationships, with our $50 million-plus client base up by seven and all verticals delivering growth YoY.”
Shares of Tech Mahindra rose 0.85% to close at Rs 1,511.35 on the BSE.
IT, pharma and realty shares in advanced while PSU bank, media and auto shares declined.
At 13:25 ST, the barometer index, the S&P BSE Sensex jumped 383.61 points or 0.49% to 77,886.45. The Nifty 50 index rose 133.10 points or 0.54% to 24,308.65.
In the broader market, the BSE 150 MidCap Index fell 0.19% and the BSE 250 SmallCap Index rose 0.10%.
The market breadth was positive. On the BSE, 2,138 shares rose and 1,986 shares fell. A total of 208 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.29% to 11.88.
Economy
India's services sector remained in expansion mode in June, although growth lost momentum amid challenging market conditions and softer client demand. The seasonally adjusted HSBC India Services PMI Business Activity Index eased to 57.4 in June from 59.8 in May, marking the weakest pace of expansion in 17 months, while remaining well above the 50-point threshold that separates growth from contraction. Hiring activity was largely stagnant, business confidence weakened, and cost pressures eased, while new export orders grew at the fastest pace in three months.
HCL Technologies (up 6.64%), Tech Mahindra (up 3.36%), Max Healthcare Insitute (up 2.77%) and Bajaj Finserv (up 2.53%) were the major Nifty50 gainers.
State Bank of India (SBI) (down 1.39%), Axis Bank (down 0.72%), Kotak Mahindra Bank (down 0.68%) and Indigo (Interglobe Aviation) (down 0.63%) were the major Nifty50 losers.
HCL Technologies rallied 6.64% after the company signed an agreement with a Europe headquartered, Fortune Global 50 Firm to transform their global digital workplace and enterprise networks using Artificial Intelligence (AI).
Marathon Nextgen Realty advanced 0.04%. The company announced that its subsidiary Sunset Spaces has executed a development agreement for the redevelopment of the society located at Versova, Mumbai.
Krystal Integrated Services rose 0.75%. The company has secured a work order from the Director of Backward Classes (BC) Welfare Department, Andhra Pradesh, for providing cleaning and sanitation services across government hostels.
Bluspring Enterprises jumped 4.14% after the company’s subsidiary, STEAG Energy Services (India) has secured a comprehensive operations and maintenance contract from Vedanta Aluminium Metal for a captive power plant. The contract covers a 1,215 MW (9x135 MW) captive power plant at VAML and has an estimated value of Rs 1,437.17 crore.
Central Bank of India rose 0.31%. The company reported a 28.77% year-on-year (YoY) increase in its global gross advances to Rs 3,54,895 crore as of 30 June 2026, compared with Rs 2,75,595 crore as of 30 June 2025.
PC Jeweller surged 4.77% after the company reported an approximately 21% year-on-year increase in consolidated revenue for the quarter ended 30 June 2026.
Mahindra & Mahindra Financial Services added 2.47% after the company estimated the overall disbursement at approximately Rs 15,560 crore, YoY growth of around 21% (excluding finance lease).
Bajaj Finance gained 1.46% after its new loans booked rose 20% year-on-year to 1.61 crore in Q1 FY27, compared with 1.35 crore in the corresponding quarter last year.
Global Markets:
European and Asian market advanced on Friday after a lukewarm U.S. jobs report poured cold water on the prospect of an imminent rate hike from the Federal Reserve and regional activity gauges pointed to an economic expansion during June.
Purchasing Managers' Index (PMI) data released on Friday indicated increased activity across the region.
Japan's services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. The S&P Global final Japan Services Purchasing Managers' Index (PMI) rose to 52.2 in June from 50.0 in May, signalling a renewed rise in business activity.
Meanwhile, China's services activity expanded at a slightly slower pace in June as growth in new business eased, though overseas demand rose at the fastest rate in 20 months, a private-sector survey showed on Friday. The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, staying above the 50-mark that separates expansion from contraction.
Overnight on Wall Street, the Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the Nasdaq Composite languished as semiconductors struggled once again.
The US economy added 57,000 jobs in June 2026, significantly below both the downwardly revised 129,000 recorded in May and market expectations of 110,000. It marks the weakest monthly job growth in four months, ending a streak of three consecutive months of stronger-than-expected gains.
The 30-stock average added 594.83 points, or 1.14%, for a record close of 52,900.07. The index hit a new all-time intraday high of 52,903.85. The S&P 500 rose less than 1 point to end at 7,483.24, while the Nasdaq dropped 0.8% to 25,832.67.