BSE Sensex was trading 300 points down at 74,310 points.
There is a decline of more than 1 percent in Bharti Airtel. L&T, Tech Mahindra, Nestle India Maruti, Infosys were also trading in the red. Bajaj Finance gained more than one percent after RBI lifted restrictions on some of its products.
Many sectoral indices including technology, private banks, capital goods, real estate are trading in the red.IT stock Coforge is down more than 8 percent.
Coforge also announced the acquisition of Signity Tech, an assurance (testing company). Management believes Signity complements Coforge's verticals, GE footprint and customer relationships, JM Financial Institutional Securities said in a report.
Coforge has conducted extensive audits (financial and forensics) of the target and found comfort in scaled relationships and in-place contracts. “We estimate that at the current price, the acquisition will be accretive to EPS.Synergies are difficult to realize, especially in large acquisitions. But we are willing to give the benefit of the doubt to Coforge’s clinical execution track-record,” the broker said.
V.K., chief investment strategist at Geojit Financial Services. Vijayakumar says that global and domestic signals are positive for the market. Fall in dollar index to 105.3, improvement in US 10-year bond yield around 4.5 per cent and Brent crude falling below $84 will further strengthen the rally. The strong pillar of support for this market is strong buying by DIIs, which ensures a steady flow of funds.This trend is unlikely to change any time soon.
“Removal of restrictions on some products of Bajaj Finance by RBI is highly positive for the stock. There is a possibility of a rise in the stock due to short covering in the stock. There is scope for further growth in Bank Nifty. Delivery-based purchasing is likely to continue in this segment."
There is a decline of more than 1 percent in Bharti Airtel. L&T, Tech Mahindra, Nestle India Maruti, Infosys were also trading in the red. Bajaj Finance gained more than one percent after RBI lifted restrictions on some of its products.
Many sectoral indices including technology, private banks, capital goods, real estate are trading in the red.IT stock Coforge is down more than 8 percent.
Coforge also announced the acquisition of Signity Tech, an assurance (testing company). Management believes Signity complements Coforge's verticals, GE footprint and customer relationships, JM Financial Institutional Securities said in a report.
Coforge has conducted extensive audits (financial and forensics) of the target and found comfort in scaled relationships and in-place contracts. “We estimate that at the current price, the acquisition will be accretive to EPS.Synergies are difficult to realize, especially in large acquisitions. But we are willing to give the benefit of the doubt to Coforge’s clinical execution track-record,” the broker said.
V.K., chief investment strategist at Geojit Financial Services. Vijayakumar says that global and domestic signals are positive for the market. Fall in dollar index to 105.3, improvement in US 10-year bond yield around 4.5 per cent and Brent crude falling below $84 will further strengthen the rally. The strong pillar of support for this market is strong buying by DIIs, which ensures a steady flow of funds.This trend is unlikely to change any time soon.
“Removal of restrictions on some products of Bajaj Finance by RBI is highly positive for the stock. There is a possibility of a rise in the stock due to short covering in the stock. There is scope for further growth in Bank Nifty. Delivery-based purchasing is likely to continue in this segment."
