Tech Mahindra Share Price: Stocks in News: TechM, Adani Transmission, Infi, Axis Bank, PNB and Adani Ports | Tech US News


Nifty futures on the Singapore Exchange traded up 18 points, or 0.10 percent, at 18,237, indicating Dalal Street is headed for a muted start to Wednesday. Here are a dozen stocks that may resonate the most in today’s trade:

Adani Transmission, P&GHH, Dalmia India:

Procter & Gamble Hygiene & Healthcare , Dalmia Bharat , Mahindra & Mahindra Financial Services , , , EIH , and KSB are among the companies that will announce their results for the September 2022 quarter today.

Tech Mahindra: The country’s fifth-largest IT services exporter reported a 4 percent drop in profit to Rs 1,285 crore in the September quarter, citing compression in profit margins. The IT major’s total revenue rose 20.7 percent to Rs 13,129 crore in the reporting quarter as compared to the same period a year ago.

Infosys: The IT major will seek shareholders’ approval for its proposed Rs 9,300 crore share buyback through postal ballot between November 3 and December 2. The Infosys board had on October 13 announced a buyback of shares worth Rs 9,300 crore through the open market route, at a price not exceeding Rs 1,850 per equity share.

Access Bank: US-based private equity major Bain Capital divested 0.54 percent stake or 1,66,80,000 shares in the private sector lender at an average price of Rs 891.38 apiece, according to data available with Bulkdeal. The volume reached Rs 1,486.82 crore. With BSE.

Adani Ports and SEZ: The Adani Group company’s consolidated profit rose 65.5 per cent to Rs 1,738 crore for the quarter ended September FY23, supported by higher topline, operating income and lower tax costs. Revenue for the quarter rose 33 percent to Rs 5,211 crore.

Punjab National Bank:
The state-owned lender reported a 63% drop in standalone net profit to Rs 411 crore for the September quarter due to higher provisioning for bad loans. The bank had earned a net profit of Rs 1,105 crore in the year-ago period.

NMDC: The state-owned mining player reported a decline of over 6% in its iron ore production to 19.71 million tonnes (MT) during April-October 2022.

JK Tire & Industries:
The tire manufacturer said its consolidated net profit fell 23 percent to Rs 50 crore in the second quarter ended September 30, 2022. It had reported a net profit of Rs 65 crore in the July-September period last fiscal.

Macrotech Developers: The realty firm reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loans given to its UK arm for development of projects. It markets its properties under the Lodha brand and is one of the leading real estate developers in the country.

Voltas: The air conditioning and engineering services provider reported a consolidated net loss of Rs 6.04 crore in the second quarter ended September 2022 due to overseas project arrangements. The Tata group firm had earned a cumulative net profit of Rs 104.29 crore in the July-September quarter last fiscal.

The second-largest pureplay mortgage lender reported a 23 percent year-on-year rise in net profit at Rs 305 crore for the three-month period ended September. A subsidiary of country’s largest insurer LIC said its net interest income for the quarter fell marginally to Rs 1,163 crore from Rs 1,173 crore.

: The paint manufacturer has reported a 27% year-on-year rise in gross profit for the quarter ended September FY23, supported by higher operating income. Income from operations rose 19 percent year-on-year to Rs 1,931 crore in the quarter.

The civil construction company has received two new orders worth Rs 1,056 crore in October 2022. All these orders relate to the Division of Water and Environment and are received from state government agencies.

Optimal health care: The healthcare chain more than doubled its profit after tax to Rs 511 crore in the second quarter ended September, with a one-time benefit of Rs 244 crore. It had reported a PAT (profit after tax) of Rs 207 crore in the same period a year ago.

HFCL: The domestic telecom gear maker will invest around Rs 425 crore over the next four years to manufacture equipment under a production-linked incentive scheme. HFCL Telecom is one of the 42 companies selected for the PLI scheme which enables it to avail incentives of up to Rs 652.79 crore.

The private lender bank recorded a whopping 228% year-on-year rise in standalone profit at Rs 412 crore for the quarter ended September FY23 due to reversal of provisions and contingencies of Rs 14 crore in Q2FY23. Net interest income for the quarter rose 26 percent YoY to Rs 803 crore.

The Tata Group firm will invest over Rs 750 crore under the Design-led Production Linked Incentive (PLI) scheme to manufacture telecom and networking products. Tejas Networks is one of the 42 companies selected for the scheme.

: The company has ended its acquisition of TIME. It had entered into a share purchase agreement (SPA) to acquire 100 per cent shareholding of the Hyderabad-based firm in April 2022. The transaction could not be completed until the long stop date.

: The industrial intermediate chemical maker has reported a standalone profit after tax of Rs 26.62 crore for the second quarter ended September 30, 2022. Standalone PAT was Rs 45.20 crore during the corresponding period last year.

: The NSE-listed logistics firm has tied up with mining major Vedanta. It has received a Letter of Intent for a tender for transportation of aluminum finished goods for a period of one year and is worth Rs 146 crore.


Source link

Please disable your adblocker or whitelist this site!