Infosys share price jumps 4 percent as company report strong rise in net profits

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note tracking strong global cues.
• The index moderated their gains in second half amid profit selling at higher levels. IT, banks, financial shares were in demand. Auto, oil & gas and realty shares declined. India’s inflation based on wholesale price index (WPI) stood at 10.7% in September 2022 as against 12.41% recorded in August 2022 and 11.8% in September 2021.

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? Bajaj Auto net profit surges 20%; improvement in semi-conductor supplies
On a standalone basis, the company’s net profit surged 20% to Rs 1,530 crore on 16% jump in total revenue from operations to Rs 10,203 crore during the period under review. The rise in the revenue was mainly aided by the recovery of volumes on improvement of semi-conductor supplies. EBITDA grew 26% year on year to Rs 1,759 crore in Q2 FY23. EBITDA margin improved to 17.2% during the quarter as against 16% reported in the same quarter last year. The growth in the margin was led by judicious price increases, dynamic cost management and better foreign exchange realization.

? Infosys share price jumps 4 percent as company report strong rise in net profits
The company report a 6% increase in revenue to Rs 36,538 crore in Q2 FY23 over Q1 FY23. As compared with Q2 FY22, the company’s net profit and revenues have grown by 11.1% and 23.4%, respectively. The company has revised its FY23 revenue guidance to 15%-16%. The operating margin guidance has also been revised to 21%-22%.

? Federal bank reports highest ever net profits at Rs. 704 crore
On a standalone basis the profit increase of 52.9 percent. The banks total income grew 19.62% to Rs 4,630.30 crore in Q2 FY23 compared with Rs 3,870.90 crore in Q2 FY22. Asset quality improved sequentially with GNPA at 2.46 percent vs 2.69 percent in the previous quarter.

News from the IPO world?

• Fidelity, HDFC Mutual Fund eye India’s Five Star IPO at lower valuation
• Sahyadri sets up subsidiary to raise funds, IPO also on cards 
• Kaynes Technology gets SEBI’s go ahead to float IPO

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