Indian IT stocks continued their rebound on Tuesday, with the Nifty IT index posting gains for the second straight session. Broad-based buying lifted both large- and mid-cap stocks, driven by renewed sector optimism.
Larry Ellison surged closer to surpassing Elon Musk as the worlds richest person after cafter-hours shares jumped over 26%, potentially boosting his net worth by $70 billion. The 81-year-old co-founders fortune is heavily tied to Oracle, whose stock has risen 45% this year, while Tesla shares have fallen 14%, trimming Musks wealth.
MTAR Technologies shares rose sharply after the company secured Rs 386 crore in clean energy orders from Bloom Energy. The deals, valid till June and March 2026, are expected to strengthen MTARs revenue, with analysts giving a Strong Buy rating.
Novo Nordisk, the maker of Wegovy, plans a major restructuring. The company will cut 9,000 jobs globally. This move aims to save 8 billion Danish crowns annually. The restructuring will simplify the organisation. It will also speed up decision-making. Novo Nordisk faces increasing competition from Eli Lilly.
Vikram Solar's share price rose sharply on Wednesday after the recently listed company posted a stellar Q1, with net profit soaring 484% YoY to Rs 133 crore and revenue climbing 80% to Rs 1,134 crore. Strong policy support, rising energy demand, and fresh solar module orders lifted investor sentiment.
US President Trump confirmed ongoing trade negotiations with India, saying that they will be completed soon. Prime Minister Modi echoed optimism and said talks could unlock the full potential of the India-US partnership, boosting investor sentiment on the D-Street.
