Hinduja Global Solutions gets approval for share buyback

The Markets Today in a nutshell

• Domestic stock market ended on a positive note.
• Investor sentiments were shaky amid ongoing Adani-Hindenburg saga. Market participants were also cautious ahead of India’s union budget and the US Fed policy. IT and PSU banks advanced while oil & gas and FMCG stocks declined.

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News you could use

? Bajaj Finserv stock price up 2 percent; revenue grew by 23.7 percent q-o-q
The firm reported a net consolidated profit of Rs 1,782.02 crore for the December quarter of the financial year 2022-23, up 41.90 percent from Rs 1,255.79 crore in the year-ago period. The revenue from operations came in at Rs 21,755.15 crore, rising 23.70 percent from Rs 17,586.74 crore in the corresponding quarter of the previous year. 

? Hinduja Global Solutions gets approval for share buyback
Hinduja Global Solutions received board approval for the share buyback worth up to Rs 1,020 crore. It has fixed a buyback price of Rs 1,700 per share, which is 31 percent higher than the closing price of Rs 1,299 on January 27.

? Data Patterns share price jumped 11 percent on Q2 results
The company’s PAT zoomed 272 percent YoY at Rs 33.32 crore. EBITDA margins came in at 42.2 percent as against 34.2 percent in Q2 FY23 and 35.7 percent in Q3 FY22. Revenue from operations for the quarter increased 160 percent year-on-year (YoY) to Rs 111.8 crore.

News from the IPO world?

• Adani Enterprises FPO sees 3 percent subscription on second day of bidding
• Kalpataru plans to file draft papers for IPO next quarter.
• FirstMeridian Business Services files fresh draft papers for IPO; cuts issue size to Rs. 740 crore

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