Tech Mahindra Stock Price: Stocks in news: TechM, Adani Transmission, Infy, Axis Bank, PNB and Adani Port | Rare Techy
Adani Transmission, P&GHH, Dalmia Bharat:
Procter & Gamble Hygiene & Healthcare, Dalmia Bharat, Mahindra & Mahindra Financial Services, , , , EIH, , and KSB are among the companies that will announce results for the September 2022 quarter today.
Tech Mahindra: The country’s fifth-largest exporter of IT services reported a 4 percent drop in profit for the September quarter at Rs 1,285 crore, citing compression in profit margins. The IT major’s total revenue rose 20.7 percent to Rs 13,129 crore for the reporting quarter compared to the same period last year.
Infosys: The IT department will ask shareholders for a share buyback proposal of Rs 9,300 crore between November 3 and December 2 through postal ballot. The Infosys board on October 13 had announced a share buyback of Rs 9,300 crore via the open market route, for a price not exceeding Rs 1,850 per equity share.
Axis Bank: US-based private equity Bain Capital divested 0.54 per cent stake or 1,66,80,000 shares in the private lender at an average price of Rs 891.38 apiece, taking the size of the transaction to Rs 1,486.82 crore, according to available bulk deal data. with BSE.
Adani Port and SEZ: Adani Group companies’ consolidated profit increased by 65.5 percent to Rs 1,738 crore for the quarter ended September FY23, supported by top line, operating income and lower tax expenses. Revenue surged 33 percent YoY to Rs 5,211 crore for the quarter.
Punjab National Bank: State-owned Lende reported a 63 percent drop in standalone net profit to Rs 411 crore for the September quarter due to higher provisioning for bad loans. The bank had posted a net profit of Rs 1,105 crore in the year-ago period.
NMDC: The state-owned mining player reported a drop of over 6 percent in its iron ore production to 19.71 million tonnes (MT) during April-October, 2022. The mining giant had produced 21.04 MT of iron ore in the same period before the fiscal.
JK Ban & Industry: The tire maker said its consolidated net profit fell 23 percent to Rs 50 crore for the second quarter ended September 30, 2022. It had reported a net profit of Rs 65 crore in the July-September period of the last fiscal.
Macrotech Developers: The realty firm reported a consolidated net loss of Rs 933 crore for the quarter ended September due to a provision for loans given to UK arms for construction of projects. It markets properties under the Lodha brand and is one of the leading real estate developers in the country.
Voltage: The air conditioning and engineering services provider reported a consolidated net loss of Rs 6.04 crore for the second quarter ended in September 2022 due to conditions incurred for overseas projects. Tata group firms have posted a consolidated net profit of Rs 104.29 crore in the July-September quarter of last fiscal.
: The second-largest pure mortgage lender announced a 23 per cent year-on-year increase in net profit at Rs 305 crore for the three-month period ending September. The country’s largest insurance subsidiary LIC said its net interest income for the quarter fell marginally to Rs 1,163 crore from Rs 1,173 crore.
: The paint manufacturing company has recorded a 27 percent year-on-year increase in consolidated profit at Rs 111.2 crore for the quarter ended September FY23, supported by higher operating income. Income from operations increased by 19 percent YoY to Rs 1,931 crore for the quarter.
NCC: The civil construction company has received two new orders for Rs 1,056 crore in October 2022. All these orders are related to water distribution and environment and received from state government agencies.
Max Health: The healthcare chain reported a more than doubling of profit after tax to Rs 511 crore for the second quarter ended September helped by a one-time gain of Rs 244 crore. It had reported a PAT (Profit After Tax) of Rs 207 crore in the corresponding period a year ago.
HFCL: Domestic telecom equipment manufacturers will invest around Rs 425 crore for manufacturing equipment under related incentive schemes in the next four years. HFCL is one of the 42 companies selected for the telecom PLI scheme which enables it to get incentives up to Rs 652.79 crore.
: The private lender bank recorded a massive 228 percent year-on-year growth in standalone profit at Rs 412 crore for the quarter ended September FY23 on the back of provisioning and contingencies of Rs 14 crore in Q2FY23. Net interest income increased by 26 percent YoY to Rs 803 crore for the quarter.
: Tata Group firms will invest over Rs 750 crore in a design-led Production Linked Incentive (PLI) scheme for manufacturing telecom and networking products. Tejas Networks is one of the 42 companies selected for the scheme.
: The company has terminated the acquisition of TIME. It has entered into a share purchase agreement (SPA) for the acquisition of 100 per cent stake of the Hyderabad-based company by April 2022. The transaction cannot be executed with a long stop date.
: The industrial intermediate chemicals maker has reported a standalone profit after tax for the second quarter ending September 30, 2022 at Rs 26.62 crore. Standalone PAT stood at Rs 45.20 crore during the corresponding period of the previous year.
: The NSE-listed logistics company has entered into a contract with mining major Vedanta. It has received a Letter of Intent for a tender for transportation of aluminum finished goods to the Western cluster for one year with an estimated value of Rs 146 crore.