IGI Logo

Key News

TCS Q2 net profit jumps 8% YoY to Rs 10,465 crore; revenue rises 18%

Tata Consultancy Services (TCS) on October 10 reported a consolidated net profit of Rs 10,465 crore for the quarter ended September 2022, registering an 8.41 percent year-on-year (YoY) growth from Rs 9,653 crore logged in the corresponding quarter of the previous year. Kicking off the earnings season for the information technology sector, the country's largest IT services provider said sequentially, the profit rose 9.93 percent. TCS said the revenue from operations grew by 18.01 percent YoY to Rs 55,309 crore compared to Rs 46,867 crore in the same quarter last year. Sequentially, revenue grew 4.83 percent. In constant currency terms, revenue growth was 15.4 percent YoY. The company said its operating margin came in at 24 percent, contracting 1.6 percent YoY. The company’s order book for the quarter was at $8.1 billion. Net cash from operations came in at Rs 10,675 crore or 102.3 percent of net income, the company said.

Infosys board to consider a proposal for buyback of equity shares on Oct 13

IT major Infosys Ltd on Monday said its board would decide on a proposal for share buyback in its meeting to be held on Thursday. The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on October 13, 2022, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, Infosys said in a regulatory filing.

Bajaj Auto buys back 6.4 mn shares worth Rs 2,499.97 cr at Rs 4,600 apiece

Bajaj Auto Ltd on Monday said it has bought back over 64 lakh shares from public shareholders for Rs 2,499.97 crore under its share buyback exercise. The company, which had commenced the share buyback on July 4, 2022, said its Buyback Committee at its meeting held on Monday approved the completion and closure of the exercise from October 10, 2022. In a regulatory filing, Bajaj Auto said it has bought back 64,09,662 equity shares, utilising an aggregate amount of Rs 2,499.97 crore.

Inox Green Energy Services sells entire stake in 3 arms to Adani Energy

Inox Wind on Monday said its arm Inox Green Energy Services has sold its entire equity stake in three special purpose vehicles to Adani Green Energy. "Inox Wind... through its subsidiary arm, Inox Green Energy Services Ltd (IGESL) has sold the entire equity shareholding held in Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd... to Adani Green Energy Ltd," it said in a BSE filing.

Adani Ports receives NCLT approval to acquire 58.1% in Gangavaram Port

Adani Ports and Special Economic Zone Ltd (APSEZ) has received approvals from the National Company Law Tribunals at Ahmedabad and Hyderabad for acquiring 58.1 per cent stake in Gangavaram Port Ltd (GPL) through the composite scheme of arrangement. With this stake purchase, GPL will become a fully-owned subsidiary of APSEZ. The acquisition of the stake from D V S Raju and family will be a share swap, with 47.7 million APSEZ shares being issued to the erstwhile GPL promoters. The acquisition of GPL is priced at around Rs 6,200 crore (517 million shares at Rs 120 each).

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer