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Market Updates

The Markets are expected to open marginally higher today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 28 points higher at 21,647 on Thursday.

Infosys:

The company will acquire semiconductor design services provider, InSemi for Rs 280 crore

Tata Power:

The company’s unit Tata Power Renewable Energy signed a memorandum of understanding with the Gujarat government to develop 10,000 MW of renewable energy power projects across multiple sites in Gujarat.

UltraTech Cement:

The company acquired a 26% stake in Amplus Ages for Rs 49 crore to meet green energy needs, and optimise energy costs.

H.G Infra Engineering:

won the bid for a Rs 716 crore construction order from the Central Railway The order involves the construction of a new 49.45?kilometer broad?gauge railway line between Dhule (Borvihir) to Nardana in Maharashtra.

Life Insurance Corp:

The insurer received two tax demand orders worth of Rs 3,529 crore from Mumbai tax authorities.

Mahindra and Mahindra:

The company will invest Rs 630 crore in Mahindra Electric Automobile by subscribing to a rights issue.

Container Corp:

The company reported total volumes at 11.5 lakh TEU, up 6% YoY, and export?import volumes at 9.02 lakh TEU, up 8.3% YoY and domestic volumes at 2.48 lakh TEU, down 1.25% YoY.

Polycab India:

The company denied receiving communication from the Income Tax department regarding the outcome of the search, a day after authorities alleged detection of unaccounted cash sales of Rs 1,000 crore and non? genuine expenses.

Tata Consultancy Services:

Q3FY24 consolidated Revenue was at Rs 60,583 crore vs Rs 59,692 crore, up 1.49%. Net profit stood at Rs 11,097 crore vs Rs 11,380 crore, down 2.5%. EBIT at Rs 15,155 crore vs Rs 14,483 crore, up 4.6%. EBIT margin was at 25.01% vs 24.26%.

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