Accenture beat Wall Street estimates for third-quarter revenue on Friday, driven by growing demand for the consulting giant's AI-driven services from enterprise customers.
HDB Financial set its IPO price band at 700740, a sharp 42% discount to its grey market valuation. This reflects a broader trend of conservative IPO pricing despite soaring unlisted market interest in firms like NSE and Tata Capital.
Maersk has temporarily suspended vessel calls at Israel's Haifa port due to escalating regional tensions. This decision follows recent exchanges of attacks between Israel and Iran. Iran's Revolutionary Guards claimed responsibility for missile and drone attacks targeting military and industrial sites in Haifa and Tel Aviv, further contributing to the instability.
Market veteran Madhu Kela advises investors to focus on bottom-up ideas and segregate research from execution. He is bullish on India's long-term prospects, citing favorable macro parameters. Kela highlights opportunities in select sectors and stocks, particularly NBFCs, due to improved regulations and liquidity. He suggests that range-bound markets are ideal for stock picking, identifying potential multibagger stocks.
Quant Mutual Fund's CIO, Sandeep Tandon, anticipates India's PE multiple to remain elevated until 2047, driven by a demographic peak and a shift in investor perception. He highlights the rise of entrepreneurship and financial inclusion as key factors, with retail investors playing a significant role in driving market growth.
A senior Iranian commander claims Iran has only deployed a fraction of its military capabilities in the conflict with Israel, hinting at further escalation. He stated that a ceasefire would benefit Israel and alleged Pakistan's assurance of nuclear retaliation if Israel uses nuclear weapons against Iran. Amid rising tensions, Pakistan's defense minister has called for Muslim unity against Israel.
