Infosys drops 4% on bourses
Posted on 14th July 2014 |
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| Infosys has dipped over 4% to Rs 3,185 in early morning deals, erasing its entire gain recorded in last week, on the National Stock Exchange (NSE). The stock had outperformed the market by gaining 2.4% in last week compared to 3.7% decline in benchmark CNX Nifty. On Friday, Infosys had posted a 2.0% sequential growth in USD revenues to US$ 2,133 million for the first quarter ended June 30, 2014, in line with market expectation. In rupee terms, gross sales fell by 1.5% as compared to last quarter which is a sign of worry for the company as in this quarters other peers would be showing better result as compared to last quarter, says analyst at WealthRays Securities. Europe contributes around 25% of total revenue, with the fall in revenue coming from Europe; achieving high growth will be a tough task for the company, says analyst. As per the management aim the top line is expected to grow at 5.6%-7.6% in FY15. Meanwhile, Infosys said the foreign institutional investors (FIIs) have reduced their holdings in the company by nearly one percentage points to 41.58% in June quarter. FIIs held 42.10% stake in Infosys at the end of March quarter. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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