Hot Stocks For October 2020 | TCS,Wipro,Bandhan Bank share moves Ahead | Market Updates

  •  TCS share prices Moved ahead and created new 52 week high.

  • Wipro share price slowly moving towards new stable price

  • Bandhan Bank share price grown by 14 Percent in last week.

Indian share market gained decent on last week thanks to a good support from IT and Banking shares. Indian Index Nifty 50 gained 497.25 points and closed on 11,914 which is the highest closing level since February 2020 on the other hand Sensex also made the fast move of 1812.44 points on the index bar and closed on 40,509.49 which is a good sign for the market. Let’s check out which share had the good momentum and which share shacked the market.

Wipro : one of the trusted Indian IT company has shown good movement on the index and share price rose by 20 percent. The rise in price is likely to do with the company’s strategy to buyback shares. The board of Directors of Wipro is considering the buyback of Equity shares of the company and likely to propose on the board meeting which will took place on October 13, 2020. Along with buyback Wipro will also announce the Quarterly results of this September Quarter. Conclusion of this board meeting will be handed over to the Stock exchanges first and then to the public. This will be a good opportunity to buy shares of Wipro on Monday morning as the buyback will see more rise in price. It looks like the Wipro is going TCS way. TCS has also announced its buy back and the share price rose by 200rs in single day after the announcement of buyback.

Bandhan Bank : One of the crucial B2B bank in Nifty Bank Index. Price moved 14 percent upward in last week. Bank’s total Advances grown by 3 percent in the last quarter and deposits grown by 9 percent this is positive sign for this bank and will directly affect the share price. The year on year growth is performing well and bank is expecting decent rise in coming year. Deposits has gained drastically as compared to previous quarters. For upcoming days this bank is on the radar of investors and brokerage firms. All this making Bandhan Bank share a must buy share from banking sector. Share price is likely to see some gains in coming quarter as festival seasons is lined up.

Tata Consultancy Services (TCS) : Another IT Firm, a well established and in good hands too. TCS Share price gained by 11 percent in last week. IT Major has reported a great profit after the tax of Rs.7,475 crore for the quarter ended on September 2020.consolidated revenue grown by 4.7 percent from operational teams. Tata Consultancy Services has registered 6.7 percent sequential growth for last quarter while the company has registered 4.8 percent Quarter on Quarter growth. TCS has won many deals in last quarter which is also a plus point for the company.The total contract value for TCS is at 8.6 billion US Dollars almost 2 billion higher. Seems like CEO Rajesh Gopinathan putting lots of efforts which results in rise in share price. At this moment TCS share price is worth to watch out for and can be a number one choice for Intraday and Delivery for long term profits. Buy TCS and Keep tacking the share price everyday to make great trade out it.

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