Infosys net profit surges 13%; company beats street estimates

The Markets Today in a nutshell

• Domestic stock market ended on a positive note.
• Investors look ahead to the U.S. consumer price index report due later in the day. The December CPI report will inform investors as to whether the Federal Reserve needs to move forward with more aggressive interest rate hikes to tame inflation, or if the central bank can pull back as inflation is showing signs of steadily cooling off. Retail inflation eases to 5.7% in December, remains within RBI’s tolerance band for 2nd straight month.

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? IIFL Wealth Management gained 2.22 percent as company considers stock split and bonus issue
The company said that its board will consider a proposal of split of shares and issue of bonus shares in its meeting to be held on 19 January 2022. The board will also discuss standalone and consolidated unaudited financial results for the quarter and nine months ended 31 December 2022. Further, the board will consider declaration of fourth interim dividend, if any, for the financial year 2022-23, to the equity shareholders of the company.

? Infosys net profit surges 13%; company beats street estimates
Infosys on reported a 13.4 percent rise in its consolidated net profit for the quarter ended December 2022 at Rs 6,586 crore. The country’s second-largest IT firm had reported a net profit of Rs 5,809 crore in the same quarter last year. Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms. The IT firm added that the total contract value for the quarter was the strongest in the last eight quarters at $3.3 billion.

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