Market experts provided mixed recommendations for technology stocks during NDTV Profit's Ask Profit show. Kaynes Technology India Ltd. (CMP: ₹3,205.90) received a 'Wait and Watch' rating from Somil Mehta of Mirae Asset Sharekhan, who noted the stock is in downtrend in short and medium-term. Tapan Doshi from catapan.in recommended 'Hold but don't buy' citing disappointing Q4 results and missed revenue guidance expectations. For Mphasis Ltd. (CMP: ₹2,292.50), both analysts advised 'Wait and Watch' due to IT sector pressure and BFSI client concentration risks. However, Tapan Doshi suggested accumulating Techno Electric & Engineering Company Ltd. (CMP: ₹1,079.10) for long-term investment, highlighting the company's strong data center business scaling and better margin prospects.
Canara Bank Ltd. (CMP: ₹132.86) received a 'Hold for long-term' recommendation from Deven Mehata of IDBI Capital Market and Securities Ltd. The stock has support at ₹130 on the lower side, with resistance expected at ₹140 levels. For Swiggy Ltd. (CMP: ₹261.10), Somil Mehta advised 'Sell' with a target of ₹330 levels, recommending switching to Eternal. In contrast, Ola Electric Mobility Ltd. (CMP: ₹42) received mixed advice - Tapan Doshi suggested 'Sell' due to profitability timeline uncertainties, while Deven Mehata recommended 'Hold' with a stop loss of ₹39.6, expecting the stock to move towards ₹45 levels.
Jagran Prakashan Ltd. (CMP: ₹75.01) received a 'Wait and Watch' rating from Somil Mehta, who noted the stock has broken out of an inverted head-and-shoulder pattern with a medium-term target of ₹83. Gandhar Oil Refinery India Ltd. (CMP: ₹159.31) was recommended for 'Hold' by Deven Mehata, who observed buying interest on lower levels with resistance at ₹175 levels. The overall structure remains sideways with potential for upward movement after resistance levels are surpassed.
Tata Technologies Ltd. (CMP: ₹734.80) received a 'Hold' rating from Astha Jain of Hem Securities, who noted the stock is seeing some revival with Q4 earnings above estimates and FY27 guidance aiming for double-digit growth. Force Motors Ltd. (CMP: ₹18,001.00) was also rated 'Hold' by Astha, who highlighted supportive results and recommended buying on dips at ₹17,500-₹17,300 zone. Physicswallah Ltd. (CMP: ₹97.10) received an 'Avoid' rating from Astha due to concerns about the business model and valuations, with the stock much below issue price despite strong Q4 revenue.
Indian equity markets opened lower on Tuesday, June 2, with the Nifty 50 declining 0.66% to 23,229.15 and the Sensex falling 0.43% to 73,945.20 in early trade. According to LiveMint reports, selling pressure was broad-based with 15 of the 16 major sectoral indices trading in the red. Foreign portfolio investors continued their exit trend, selling shares worth ₹3,912 crore on Monday, bringing total FPI outflows to approximately ₹2.51 lakh crore in 2026 so far. This surpasses the previous annual record of around ₹1.80 lakh crore set in 2025.
