Sensex, Nifty Close At Record After Logging Gains For The Fifth Day
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Infosys Q2 Net Income Beats Estimates
Infosys Ltd. reported net income for the September quarter that beat the average analyst estimate.
Second Quarter Results
Net income at Rs 5,428 crore vs estimate of Rs 5,288 crore (Bloomberg Consensus)
Revenue at Rs 29,602 crore vs estimate of Rs 29,365 crore
Financial services revenue at Rs 9,566 crore vs estimate of Rs 9,607 crore
Retail segment revenue at Rs 4,330 crore vs estimate of Rs 4,331 crore
Manufacturing segment revenue at Rs 3,219 crore vs estimate of Rs 2,950 crore
Life sciences segment revenue at Rs 2,103 crore vs estimate of Rs 1,979 crore
Total costs at Rs 22,678 crore vs Rs 21,342 crore QoQ
Operating margin at 23.6% vs estimate of 22.9%
Dividend per share: Rs 15
Infosys sees revenue growth in the range of 16.5-17.5%, revised upwards from the earlier band of 14-16%
Infosys expects operating margin in the range of 22-24%, vs estimated 23.3%
Commentary & Context
Revenue guidance for FY22 revised upwards.
Margin guidance for FY22 retained
Wipro Q2 Net Income Beats Estimates
Wipro Ltd. reported net income for the second quarter that beat analyst estimate.
September Quarter Results (Consolidated, QoQ)
Net income at Rs 2,930.5 crore vs estimate of Rs 2,875 crore (Bloomberg Consensus)
Revenue at Rs 19,667.4 crore vs Rs 18,252.4 crore QoQ
Total costs at Rs 16,416.1 crore vs Rs Rs 15,172.7 crore QoQ
Other income at Rs 504.7 crore vs Rs 577.9 crore
Wipro sees sequential revenue growth of 2-4%
India’s equity benchmarks closed at record and rose for the fifth consecutive session, aided by gains in auto, power, metal and information technology stocks.
The S&P BSE Sensex index rose 0.75% to 60,737.05, a record close for the 30-stock index. The 30-stock index hit a record 60,836.63 in intraday trade. The NSE Nifty 50 Index also advanced by a similar magnitude to close at 18,161.75, a record close for the index. The 50-stock gauge hit a record 18,197.80 in intraday trade.
The S&P BSE MidCap index outperformed its broader peers with gains over 1.6%, while the S&P BSE SmallCap index mirrored Sensex and Nifty, rising 0.63%. Barring S&P BSE Realty index, all the other 18 sectoral indexes compiled by BSE Ltd. advanced, with the S&P BSE Auto index gaining nearly 3.5%.
The market breadth was skewed in favour of bulls. About 1,766 stocks advanced, 1,569 declined and 141 remained unchanged.
Shipping Corporation: Niti Aayog concurs to the proposal of incorporation of subsidiary company to hive off non-core assets of the company.
Source: Exchange Filing
India Said To Plan IPO Of Central Warehousing Corporation: Bloomberg
Central Warehousing Corporation will be listed after seeking approval of cabinet.
Listing will help raise funds for government as well as the company.
Source: People Familiar With The Matter
Central Warehousing Corporation provides warehousing and logistics solutions.
The government has proposed to monetize 39% of it by 2025 as part of its recently unveiled asset monetization plan.
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