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Sensex, Nifty Close At Record After Logging Gains For The Fifth Day

Catch all live updates on share prices, index moves, corporate announcements and more from Indian stock markets today.

<div class="paragraphs"><p>A trader monitors financial data,  on computer screens (Photographer Chris Ratcliffe/Bloomberg)</p></div>
A trader monitors financial data, on computer screens (Photographer Chris Ratcliffe/Bloomberg)
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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

2022 Forecast

  • 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

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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%


Closing Bell

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.

Sensex, Nifty Close At Record After Logging Gains For The Fifth Day

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.

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Divestment Update

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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