Markets closed lower Thursday, with Sensex falling 315 points and Nifty down 82, pressured by Reliance and banks. Gains in SAMHI Hotels, Niva Bupa, and Dalmia Bharat cushioned losses.
Tech Mahindra reported a significant surge in its Q4 consolidated net profit, marking a 76% year-over-year increase to reach Rs 1,167 crore, accompanied by a 4% rise in revenue. The company's board recommended a final dividend of Rs 30 per share. Deal wins stood at $2.7 billion, reflecting a 42% YoY increase.
A dozen states sued the Trump administration in the U.S. Court of International Trade in New York on Wednesday to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy.
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Bernstein's MD, Venugopal Garre, maintains a positive outlook on the Indian market with a Nifty target of 26,500, citing improvements in macro conditions and potential rate cuts. Despite global uncertainties and trade tensions, Garre anticipates better capital expenditure and consumption, though not enough for extraordinary returns. Portfolio strategy emphasizes domestic recovery candidates with some defensiveness, overweighting financials, telecom, and utilities.