The shares of the company sharply surged to Rs 209.49 apiece on NSE on Tuesday morning. The stock has now rebounded 95% after hitting a fresh record low of Rs 107.59 apiece in May this year.

Saksoft is a niche technology specialist which provides a comprehensive suite of business transformation, information management, application development, AI accelerators and testing services.

Here’s what Saksoft’s technical charts indicate

Saksoft witnessed a decisive breakout from a prolonged consolidation, three sessions ago and has rallied sharply, backed by a strong surge in volumes, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. He highlighted that the RSI has also broken out of its sideways range and is currently at 83, indicating an overbought condition.

“Meanwhile, the rising MACD histogram and upward-sloping MACD line signal strong bullish momentum. The stock is trading comfortably above its key short and long-term moving averages, reinforcing the positive trend,” he added.

Also read: PFC-REC merger | Which stock should you buy before the mega demerger creates Rs 11 lakh cr power financing giant

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However, the analyst cautioned that after a sharp 42% rally in just three trading sessions, some profit booking cannot be ruled out. “Immediate support is placed at 170–165, which coincides with the 200-day EMA and the bullish bias remains intact as long as the stock trades above this zone,” according to Shah.

Saksoft Q4 snapshot

Saksoft in May reported a consolidated net profit of Rs 35.93 crore for the January-March quarter of FY26, marking a nearly 20% increase from the Rs 30.03 crore net profit reported in the corresponding quarter of the previous financial year.
The firm’s income from operations meanwhile rose to Rs 248.84 crore during Q4 FY26, while expenses fell to Rs 208.92 crore.

Saksoft share price

Saksoft shares have jumped 46% in one month and 6% in 2026 so far. The shares of the company have gained 4% in one year.
In the longer term, the stock dropped over 15% in three years but gained 359% in five years.
Also read: Motilal Oswal’s top 4 banking picks ahead of Q1 earnings season. Do you own any?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Among individual stocks, LTI Mindtree fell around 3%, while Wipro, Infosys and Tata Consultancy Services (TCS) declined over 2% each. HCL Technologies slipped around 2%, while Mphasis, Tech Mahindra, Coforge and Persistent Systems traded with marginal losses.

Traders are now pricing in three US Federal Reserve rate cuts this year, with the CME FedWatch Tool indicating about a 64% probability of a September cut. Earlier this month, however, a hawkish tone from the Fed had fuelled expectations that rates could remain higher for longer, raising concerns over weaker discretionary spending and weighing on IT stocks.

The US Federal Reserve held interest rates unchanged after its June policy meet, but a higher number of policymakers expected a rate hike in borrowing costs later this year amid growing concerns about inflation lodged above the US central bank’s 2% target. In what was the first Fed FOMC meet under Chairman Kevin Warsh’s tenure, the American central bank acknowledged that inflation was “elevated relative to the Committee’s 2% goal”, which was attributed in part to “supply shocks that have driven price increase in certain sectors, including energy.”

Also read: Infosys, TCS, Wipro, other IT stocks fall after Fed’s hawkish tone. What’s ahead?

How Fed’s rate hikes impact IT stocks?

IT stocks derive a major portion of their revenue from the North American market. Rate hikes in US or inflation spikes in the country may impact discretionary spending in the country, which in turn can affect these companies.

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Notably, the IT stocks have seen sharp bouts of volatility this year so far. In the beginning of the year, new AI innovations spooked investors about the possibility of disruption in India’s much touted IT sector. The raging war in the Middle East further dampened sentiment on the overall market, with IT stocks being no exception, despite brief support from the falling rupee.
Recently, these stocks saw a new bout of selloff after Accenture’s softer outlook retriggered worries that enterprises remain cautious on discretionary spending related to IT consulting and digital transformation projects, even as investments in artificial intelligence and cybersecurity continue.

Tata Consultancy Services (TCS), India’s largest IT services company, will announce its results for the April-June quarter of FY27 on July 9, effectively kickstarting the Q1 earnings season for the IT pack. According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, the management commentary of the IT companies will be more important than the results themselves this season.

Also read: TCS to kickstart Q1 earnings on July 9, sets record date for potential dividend

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Plot 12, one of the last remaining development sites on Newcastle’s Quayside, has been put up for sale by Homes England. The two-acre site near the mouth of the Ouseburn is being marketed by Knight Frank, with bids invited by September 18.

One of the final major development plots on Newcastle’s Quayside has been placed on the market. Plot 12, a vacant site near the mouth of the Ouseburn, is being marketed by Homes England.

A succession of proposed schemes for the site have been put forward over the past two decades without coming to fruition. Numerous proposals have faced opposition from local campaigners seeking to preserve views of the Tyne from City Road and the historic St Ann’s Church.

The site’s steep gradient has also presented challenges for potential developments, although property agents marketing the plot suggest it is “suitable for a range of uses including high-quality residential, mixed-use development and boutique commercial or hospitality accommodation”. The surrounding area has undergone steady transformation over the past three decades, with hotels, apartments, offices and other structures erected along the waterfront.

Plot 12 spans approximately two acres and could serve as a “gateway development to the Ouseburn”, according to its selling agents. A brochure for the site acknowledges how earlier proposals have been rejected and describes a “rare opportunity to bring forward a carefully considered scheme that aligns with planning policy and the site’s exceptional character.”

The asking price for the site has not been disclosed, with interested parties directed to obtain this information from selling agents Knight Frank. Offers for the site are being sought by September 18, reports Chronicle Live.

Patrick Matheson, partner at property agents Knight Frank, said: “Opportunities of this scale and prominence on Newcastle Quayside are exceptionally rare. The combination of an outstanding waterfront location, excellent connectivity and development flexibility makes Plot 12 one of the North East’s most significant land opportunities currently available.

“The site sits at the meeting point of the established Quayside and the thriving Ouseburn district – both of which continue to experience strong demand from residents, visitors and businesses. We expect significant interest from developers looking to deliver a best-in-class scheme that complements the ongoing regeneration of this part of the city.”

Proposals for the site have been submitted in 2016, 2021 and 2024, though none have materialised. In response to one of those proposed developments, conservation group the Northumberland and Newcastle Society advocated for an “elevated public square with lower level development carried down the slope below” to safeguard views of the Tyne.

Following substantial development around the Millennium Bridge area on the Quayside during the 1990s, remaining riverside plots have been keenly pursued by developers. Multiple proposals have been tabled for the nearby Malmo Quay, while the vacant Spillers Wharf site has also attracted various schemes, including the Whey Aye Wheel.

The emergence of the neighbouring Ouseburn area as one of the most sought-after districts in the country has further fuelled demand for housing. Earlier this month, the city council’s planning committee gave the green light for 57 flats to be constructed on Lime Street, following a protracted planning dispute.

Shares of SpaceX ticked higher Monday morning, continuing a tentative recovery from a sharp post-IPO pullback as investors looked ahead to the company’s historically fast inclusion in the Nasdaq-100 index, a milestone set to arrive just weeks after the company’s record-setting public debut.

Shares of Space Exploration Technologies Corp., trading under the ticker SPCX, were at $155.03 as of 11:14 a.m. EDT, up $1.80, or 1.17%, on the day. The modest gain builds on a stabilization in trading after a turbulent stretch that saw the stock fall nearly 19% over the prior week, sliding from its all-time high of $225.64, reached June 16, down to an all-time low of $147.11 on June 23. The stock’s overall market capitalization, which stood at roughly $2.02 trillion as of late last week, had contracted by more than 16% over that same period.

SpaceX went public June 12 in what has been described as a record initial public offering, raising an estimated $75 billion. Shares were priced at $135 ahead of the listing and opened trading at $150, closing the first day at $160.95, a 19.2% gain from the offering price. The stock then continued climbing for several more sessions before peaking on June 16 and reversing sharply in the days that followed, a round trip that has made SpaceX one of the more closely watched, and most volatile, new entries on Wall Street this year.

The next major milestone for the stock is now just over a week away. Nasdaq announced on June 26 that SpaceX will join the Nasdaq-100 index beginning July 7, just 15 days after its public debut, an unusually fast turnaround driven by a rule change Nasdaq implemented in May. Under the previous framework, newly public companies typically waited months or longer before becoming eligible for index inclusion. The revised rules shortened that waiting period to just 15 days from a company’s IPO date, provided the company ranks among the top 40 Nasdaq-100 constituents by market capitalization, a threshold SpaceX cleared easily given its enormous valuation. The inclusion is expected to trigger a wave of mechanical buying from index funds and exchange-traded products that track the Nasdaq-100, including the widely held QQQ fund, with some estimates suggesting the forced purchasing could total several billion dollars within the index’s first weeks of holding the stock.

That looming demand has factored into recent trading even before the formal inclusion date arrives. Cathie Wood’s ARK Invest exchange-traded funds added to their SpaceX position in trades disclosed for the session ending June 26, joining a broader group of institutional investors who have used the stock’s pullback from its post-IPO peak as an entry opportunity. At the same time, Quantum Cyber, a smaller defense-technology-focused company, has been reported to be pursuing an equity stake in SpaceX, going so far as to hire bankers to explore the transaction, according to TradingView-sourced reporting.

Beyond the index dynamics, several business developments have kept SpaceX in the headlines in recent days. Bloomberg reported that SpaceX and Charter Communications have held discussions about a potential mobile phone partnership in the United States, part of SpaceX’s broader push to expand Starlink’s reach beyond satellite broadband into direct wireless services. That ambition has not gone unnoticed by traditional telecom analysts; TD Cowen has flagged that SpaceX’s expansion into wireless could remain a persistent overhang on legacy carrier stocks, even as the firm has also suggested the development could fuel further upside for SpaceX shares themselves if Starlink succeeds in challenging established mobile providers. Separately, SpaceX was among the winning bidders, alongside Verizon, AT&T and T-Mobile, in a recent Federal Communications Commission spectrum auction, and Reuters has reported that the company is constructing a natural gas pipeline intended to support fuel needs for future Starship rocket launches.

SpaceX’s business now spans considerably more than rockets and satellites. According to Morningstar, the company acquired xAI from its founder, Elon Musk, in early 2026, bringing the Grok large language AI model, the Colossus data center and related AI infrastructure under the SpaceX corporate umbrella alongside its existing Space and Connectivity segments. Morningstar analysts have noted that while SpaceX maintains a commanding, decade-long lead over competitors in orbital launch experience and payload volume, the company’s valuation implies that investors will need to wait years for earnings to catch up to its current trading multiples.

That valuation tension is reflected clearly in the spread of opinions among the relatively small group of analysts currently covering the stock. Among those tracked by Investing.com, six analysts recommend buying shares while one recommends selling, producing an overall Buy rating with an average 12-month price target of $187.80, a high estimate of $310 and a low estimate of just $62, implying upside of roughly 22.6% from recent trading levels. Argus, meanwhile, initiated coverage with a more cautious Hold rating, suggesting it could take years before SpaceX’s valuation multiples settle into levels considered typical for an established aerospace or telecommunications company. SpaceX’s first public quarterly earnings report is scheduled for Aug. 6, a date that should meaningfully expand the pool of analysts covering the stock once the underwriting banks’ quiet period concludes.

For now, SpaceX shares remain in a period of active price discovery less than three weeks after going public, caught between mechanical demand tied to the upcoming Nasdaq-100 inclusion, continued interest from prominent institutional investors, and lingering questions from more cautious analysts about whether the company’s valuation has run ahead of what its current rocket, satellite and AI businesses can support. Monday’s modest gain offers little more than a pause in that broader story, with the company’s formal entry into the Nasdaq-100 on July 7 likely to serve as the next significant test of investor appetite for one of the most closely watched new listings in recent Wall Street history.

Persistent Systems’ announcement of its acquisition of Nagarro triggered a sharp correction in its stock price, with shares falling nearly 11% as investors weighed the implications of the company’s largest acquisition to date. While the market reaction reflected concerns around integration, margins and debt, market expert Piyush Pandey from Centrum believes the long-term strategic rationale remains compelling.

Integration Risks Weigh on Investor Sentiment
According to Pandey, the market’s immediate concern stems from the sheer size of the acquisition, which brings a company with nearly $1.1 billion in revenue into Persistent’s fold.”Yes, I would say it is a typically large acquisition. Revenue is close to $1.1 billion for the acquired company, and I would say it can lead to some near-term integration issues. That is something the market is anticipating, and it can impact the margin as well as the growth profile. That is what the market is anticipating, and that led to this steep fall in the stock price today,” he said.

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The scale of the integration is expected to create operational challenges in the near term, particularly around maintaining profitability and sustaining growth.
Market Reaction May Be an Overreaction
While acknowledging the execution risks, Pandey believes the sharp decline in the stock price appears excessive when viewed from a medium- to long-term perspective.
“It is sort of an overreaction. If we look at the medium- to long-term perspective, it is very positive because it leads to synergies in terms of verticals. Persistent gets access to verticals like industrials, consumer, and the public sector. It also helps deepen its presence in Europe, where Persistent had very little presence. Plus, it becomes a company with nearly $2.9 billion in revenue, which can help Persistent bid for larger deals. Overall, I would say it is a positive step for the medium to long term, but integration can lead to near-term challenges. For any Tier-II company like Coforge or LTIMindtree, acquisitions are generally undertaken to scale up,” he said.
The acquisition significantly broadens Persistent’s industry exposure while strengthening its European footprint, positioning the company to compete for larger global contracts.

Margin Recovery Looks Achievable
One of the key concerns among investors is whether Nagarro’s margins can eventually move closer to Persistent’s significantly higher profitability levels.

Pandey believes that although margin expansion will take time, the outlook remains encouraging due to potential cost synergies.

“Yes, I would say there will, of course, be some cost synergies, and margins can improve from the current EBITDA margin of 13.2% to a level closer to Persistent’s. The management believes that because of this scale, certain costs as a percentage of revenue can be optimised. Margin-wise, there are challenges, but I do not see a major concern. Even if the margin settles 100 basis points lower than Persistent’s, it would still be acceptable. If you look at the price Persistent is paying and the value in terms of capabilities and verticals, the deal looks good,” he said.

Growth May Moderate Initially
Pandey expects the integration to be completed only towards the end of the year, suggesting that investors should not expect immediate financial benefits.

“This merger happens only towards the end of this year, and we can expect the combined EBIT margin to be closer to 14-15%. In terms of growth, I still feel they can deliver double-digit growth after the integration. As for interest cost, they are taking debt of close to $1.5 billion, which can be easily serviced through current cash as well as the combined EBITDA generation. Debt is not the concern. Had the company opted for a QIP, it would have led to significant dilution. With the current cash holdings and cash generation from the combined company, debt is not a concern. The real concern is that the growth profile might moderate slightly, and they may take some hit on operating margins,” he said.

The analyst expects temporary moderation in growth and profitability but believes the financial structure remains manageable.

Debt Not the Primary Worry
Persistent has historically maintained a debt-free balance sheet, making the borrowing required for this acquisition a key talking point among investors.

However, Pandey believes the company’s cash-generating ability should allow it to comfortably service the additional debt.

“Debt is not a concern because IT companies are cash-generating machines. Persistent also has a reasonable amount of cash on its balance sheet. They should be able to service this debt. IT companies generally take debt when they need to expand or acquire other entities. In this case, it is justified. The primary concern remains that Persistent was growing at around 15-16% year-on-year on a constant currency basis, whereas Nagarro has been growing at around 6-7%. Unless there are meaningful revenue synergies, the combined entity’s growth could take a hit. That is what the market is primarily concerned about,” he said.

Attractive Valuation, But Patience Is Advised
Following the sharp correction, Persistent’s valuation has become considerably more attractive. Even so, Pandey believes investors need not rush into the stock given the broader challenges facing the IT sector.

“The valuation has become very attractive. It is now trading at close to 25 times FY28 EPS. But having said that, the IT sector continues to face demand challenges related to AI, and even the first or second quarter is likely to remain muted. One can adopt a wait-and-watch approach. There is no need to hurry, especially with IT companies,” he said.

AI Opportunity Favors Select Verticals
Discussing the evolving AI landscape, Pandey believes industries such as healthcare, technology and banking remain best positioned to benefit, while manufacturing and utilities may take longer to realise gains.

“Verticals like healthcare, technology and BFSI are better placed compared to manufacturing, energy or utilities. Companies with deeper domain capabilities in these verticals are likely to perform better. Tier-II companies like Coforge and Persistent are slightly better placed compared to the larger players, but things are evolving very rapidly. We should get more clarity over the next one to two quarters on how demand is shaping up for the sector,” he said.

Execution Will Determine Future Valuation
While the acquisition strengthens Persistent strategically, Pandey cautions that execution will ultimately determine whether investors reward the company.

“If integration takes longer and becomes more complex, Persistent could see valuation multiples derating. The company does not have a strong track record of integrating acquisitions, unlike companies such as Coforge. Given that this acquisition is close to 60% of Persistent’s existing revenue, management needs to remain very focused on cost and revenue synergies. Any delay in achieving those synergies could impact the valuation multiples of the combined company,” he said.

For now, investors appear willing to wait for evidence that Persistent can successfully integrate Nagarro while preserving its growth trajectory. Although short-term volatility may persist, the acquisition has the potential to transform the company’s scale, geographic reach and industry presence if executed effectively.

• The fund posted returns of 0.14% ((Institutional shares)) and 0.08% ((Investor A shares, without sales charge)) for the first quarter of 2026.

• The fund underperformed its benchmark as duration (interest rate sensitivity) and yield curve positioning