Latest news with #Investec
Yahoo
4 hours ago
- Business
- Yahoo
Wipro (WIT) Reports Better-than-expected Quarterly Earnings, Highlights Reuters
Wipro Limited (NYSE:WIT) is one of the Best Indian Stocks to Buy for Next 5 Years. Reuters highlighted that Wipro Limited (NYSE:WIT) reported better-than-expected quarterly earnings, thanks to the improved client spending in segments of its Americas business. The company's gross revenue came in at INR221.3 billion ($2,581.6 million), reflecting a decline of 1.6% QoQ and an increase of 0.8% YoY. Net income for Q1 2026 came in at INR33.3 billion ($388.4 million), a decline of 6.7% QoQ and an increase of 10.9% YoY. A modern office building with a large sign displaying the companies logo. Reuters, while quoting analysts at Morgan Stanley, highlighted that robust deal wins at Wipro Limited (NYSE:WIT) place it well for growth in the second half of the fiscal year. The firm also highlighted that analysts at Investec believe deal wins were the highlights for Q1 2026, and these were the highest in over 13 quarters. Notably, total bookings came in at $4,971 million, reflecting a rise of 24.1% QoQ and 50.7% YoY in constant currency. The large deal bookings amounted to $2,666 million, implying 49.7% growth QoQ and 130.8% growth YoY in constant currency. Reuters also reported that Morgan Stanley believes that such large deals remain concentrated among Wipro Limited (NYSE:WIT)'s top clients, reflecting greater wallet share. Wipro Limited (NYSE:WIT) operates as an IT, consulting, and business process services company. The company is based in Bengaluru, India. While we acknowledge the potential of WIT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey.
Daily Mail
8 hours ago
- Business
- Daily Mail
Tembo launches best-buy fixed cash Isa - how does it compare to other savings accounts?
Mortgage and savings provider Tembo has launched a one-year fixed-rate cash Isa offering a best-buy rate. The cash Isa pays interest of 4.27 per cent and is offered through the investing platform Investec. The new launch has propelled Tembo to the top of the best buy savings tables, and it now offers the best rate for a one-year fixed-rate cash Isa on the market. The Isa can be opened with a deposit starting from £500 by downloading Tembo's app. Savers should make sure they are happy locking their cash away for one year, and only put in money they definitely won't need to access in that time. A saver keeping £10,000 in this Isa would earn around £435 after the one-year term, according to This is Money's savings calculator. Richard Dana, founder and CEO of Tembo said: 'With rates coming down, many of our customers have been asking us to offer a fixed-rate product.' It is the latest addition to Tembo's Isa range having launched an easy-access cash Isa in January. Its current version of this account pays 4.64 per cent. How does it compare to other Isas? The best one-year fixed-rate Isas currently offer around 4.2 per cent. After Tembo, Kent Reliance offers the next best cash Isa, paying 4.25 per cent, while Vida savings and Vanquis Bank also offer this rate. Savers stashing £10,000 in these accounts would earn around £433 after the year term is up. Tembo's fixed-rate Isa is unusual in that, unlike most fixed-rate Isas, you can make further one-off deposits into the account after you've opened it. Most fixed-rate Isas do not permit additional deposits once the account is open. New funds added to this Isa after the initial deposit will be locked in for 12 months from the date they're added, at the rate available at the time. This rate may be different from the 4.27 per cent rate the initial deposit locked in at when you first opened the account. What's in the fine print? Tembo is a mortgage and savings platform which launched in October 2020. It was set up with the aim of helping first-time buyers to get on the housing ladder more easily by brokering a small interest-only mortgage on their parents' - or another family member or friend's - home. It has now branched out into savings and offers Isas through banks it partners with, for example Investec in the case of the one-year fixed-rate Isa. Money held in the Tembo Isa is fully protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per eligible person, per bank. Funds in the Tembo Isa are held in partner bank accounts including Barclays, Bank of Scotland, Aldermore Bank and Shawbrook Bank. It is worth noting that the £85,000 limit applies to the total amount of money you hold at any one bank, whether it is deposited by Tembo, by other providers, or by you directly with the bank. If you have a Barclays current account, for example, the funds held in this account will take up part of your £85,000 claim limit for Barclays alongside any funds held by Barclays on Tembo's behalf.
Zawya
9 hours ago
- Business
- Zawya
South Africa's small inflation rise leaves room for rate cuts, analysts say
South Africa's inflation rate edged higher in June, reaching the base of the central bank's target range, but analysts said there was still scope to ease monetary policy. Headline consumer inflation rose to 3.0% year-on-year, up from 2.8% in May and in line with the median forecast of economists polled by Reuters. The South African Reserve Bank has cut its repo rate at four of its last five policy meetings as, since August 2024, inflation has been below the 4.5% level it aims for. That is the centre of the bank's 3%-6% band and the bank, known for its caution, has repeatedly said it would prefer to lower the target. Statistics South Africa said annual inflation for food and non-alcoholic beverages hit a 15-month high in June, a significant contributor to the higher headline rate. Higher costs for rentals and utilities also drove inflation upwards, while fuel prices extended their decline for the fourth straight month. Annabel Bishop, chief economist at Investec, said inflation was likely to rise towards 4% by the end of the year but the real interest rate was very high with the repo rate at 7.25% now. "We expect at least one further 25 basis point cut in the repo rate this year," she said in a research note. The central bank will announce its policy decision on July 31, the day before President Donald Trump's 30% tariff on South African exports to the U.S. is due to come into force. Since the May policy meeting, analysts, business people and trade unions have lowered their inflation forecasts in a survey the central bank factors into its rate decisions. David Omojomolo at Capital Economics said South Africa's struggling economy strengthened the case for policy easing. (Reporting by Kopano Gumbi; Editing by Alexander Winning and Barbara Lewis)
Reuters
9 hours ago
- Business
- Reuters
South Africa's small inflation rise leaves room for rate cuts, analysts say
JOHANNESBURG, July 23 (Reuters) - South Africa's inflation rate edged higher in June, reaching the base of the central bank's target range, but analysts said there was still scope to ease monetary policy. Headline consumer inflation rose to 3.0% year-on-year, up from 2.8% in May (ZACPIY=ECI), opens new tab and in line with the median forecast of economists polled by Reuters. The South African Reserve Bank has cut its repo rate (ZAREPO=ECI), opens new tab at four of its last five policy meetings as, since August 2024, inflation has been below the 4.5% level it aims for. That is the centre of the bank's 3%-6% band and the bank, known for its caution, has repeatedly said it would prefer to lower the target. Statistics South Africa said annual inflation for food and non-alcoholic beverages hit a 15-month high in June, a significant contributor to the higher headline rate. Higher costs for rentals and utilities also drove inflation upwards, while fuel prices extended their decline for the fourth straight month. Annabel Bishop, chief economist at Investec, said inflation was likely to rise towards 4% by the end of the year but the real interest rate was very high with the repo rate at 7.25% now. "We expect at least one further 25 basis point cut in the repo rate this year," she said in a research note. The central bank will announce its policy decision on July 31, the day before President Donald Trump's 30% tariff on South African exports to the U.S. is due to come into force. Since the May policy meeting, analysts, business people and trade unions have lowered their inflation forecasts in a survey the central bank factors into its rate decisions. David Omojomolo at Capital Economics said South Africa's struggling economy strengthened the case for policy easing.
Business Insider
3 days ago
- Business
- Business Insider
Investec Keeps Their Buy Rating on Axis Bank Limited (AXISBANK)
In a report released today, Param Subramanian from Investec maintained a Buy rating on Axis Bank Limited, with a price target of INR1,350.00. The company's shares closed last Friday at INR1,099.30. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Subramanian covers the Financial sector, focusing on stocks such as AU Small Finance Bank Limited, Axis Bank Limited, and Bank of Baroda. According to TipRanks, Subramanian has an average return of 2.0% and an 80.00% success rate on recommended stocks. Axis Bank Limited has an analyst consensus of Strong Buy, with a price target consensus of INR1,430.55, which is a 30.13% upside from current levels. In a report released today, HSBC also maintained a Buy rating on the stock with a INR1,270.00 price target. The company has a one-year high of INR1,291.35 and a one-year low of INR934.00. Currently, Axis Bank Limited has an average volume of 206.4K.
