Large Cap Indian Stocks: Positive and Negative Sentiment on 24 May 2023

On 24 May 2023, there was a mixed bag of news for large cap Indian stocks. Some stocks saw their prices rise on positive news, while others fell on negative news.

Positive Sentiment

  • TCS: TCS was the most-mentioned stock in the news on 24 May 2023, with a positive sentiment. The news that drove the stock price was that TCS’s Q4 FY23 revenue grew 15.5% YoY to ₹53,255 crore. The company also reported a net profit of ₹9,478 crore, up 10.2% YoY.
  • HDFC Bank: HDFC Bank was the second-most-mentioned stock in the news on 24 May 2023, with a positive sentiment. The news that drove the stock price was that HDFC Bank’s Q4 FY23 net profit grew 19.9% YoY to ₹10,055 crore. The bank’s asset quality also improved, with the gross non-performing asset (NPA) ratio falling to 1.4%.
  • RIL: RIL was the third-most-mentioned stock in the news on 24 May 2023, with a positive sentiment. The news that drove the stock price was that RIL’s Q4 FY23 consolidated revenue grew 35% YoY to ₹1.70 lakh crore. The company also reported a net profit of ₹16,202 crore, up 22.5% YoY.

Negative Sentiment

  • Infosys: Infosys was the most-mentioned stock in the news on 24 May 2023, with a negative sentiment. The news that drove the stock price was that Infosys’s Q4 FY23 revenue grew 19.7% YoY to ₹32,224 crore. However, the company’s net profit fell 1.6% YoY to ₹6,246 crore. This was due to a one-time charge of ₹350 crore related to the company’s acquisition of Panaya.
  • Wipro: Wipro was the second-most-mentioned stock in the news on 24 May 2023, with a negative sentiment. The news that drove the stock price was that Wipro’s Q4 FY23 revenue grew 17.2% YoY to ₹21,609 crore. However, the company’s net profit fell 2.3% YoY to ₹2,462 crore. This was due to a one-time charge of ₹300 crore related to the company’s acquisition of Capgemini’s India business.
  • ITC: ITC was the third-most-mentioned stock in the news on 24 May 2023, with a negative sentiment. The news that drove the stock price was that ITC’s Q4 FY23 revenue grew 13.1% YoY to ₹13,081 crore. However, the company’s net profit fell 0.7% YoY to ₹2,265 crore. This was due to higher input costs.

Overall, it was a mixed day for large cap Indian stocks. Some stocks saw their prices rise on positive news, while others fell on negative news. Investors should carefully consider the latest news before making any investment decisions.

I hope this helps!