Today on Friday, the third quarter results of companies like Reliance Industries, Wipro, Tech Mahindra and Tata Technologies are to be announced, hence the market’s focus will be on these stocks. Apart from these, investors will also keep an eye on 10 other stocks including Jio Finance, Infosys, BHEL, RailTel, which are in the news today.
Infosys
IT sector major Infosys has reported a 2 percent decline in net profit to Rs 6,654 crore in the third quarter as compared to Rs 6,806 crore in the previous quarter. The company’s revenue rose 2.2 percent to Rs 45,479 crore compared to the previous quarter, slightly better than estimates. During this period, EBIT stood at Rs 9,479 crore and operating margin stood at 20.8 per cent. Jio Financial Services has reported a consolidated profit of Rs 269 crore in the third quarter, which is 8.8 per cent lower than the same quarter last year, although the total income has increased to Rs 901 crore, which is more than double from the previous year. Biocon through qualified institutional placement Rs 4,150 crore has been raised. The company has issued 11.26 crore equity shares at Rs 368.35 per share, 2.8 per cent lower than the previous price. HDB Financial Services has reported a 36.3 per cent rise in net profit at Rs 644 crore in the December quarter. Also, net interest income has increased by 22.1 per cent to Rs 2,285 crore. Bharat Heavy Electricals Limited (BHEL) has started supplying underslung traction transformers for the Vande Bharat sleeper train project, signaling the company’s strategic entry into the semi-high speed propulsion segment. Zydus Lifesciences has received approval from the US Food and Drug Administration (USFDA) for eltrombopag tablets. Final approval has been received. The drug is used to treat thrombocytopenia (low platelet count) caused by certain blood disorders. RailTel Corporation has received approval letter from Central Railways for a project worth Rs 88.66 crore. The project involves supply, installation, testing and commissioning of IP-MPLS network equipment at multiple stations in Mumbai, Pune, Solapur, Bhusaval and Nagpur divisions. The project aims to enable unified communications for Indian Railways. NBCC India has received a contract of Rs 55.02 crore from Indian Overseas Bank for the planning, design, implementation and successful completion and handing over of IOB New Regional Office Building at Raipur. Jaigle Prepaid Ocean Services has signed a referral agreement with Jio Credit. Under this, Jagle will direct its corporate customers to Jio Credit to access leasing solutions as part of Jagle’s device leasing program.
