MARKETS
Worsening client profitability to hit IT demand, says Jefferies
While revenue estimates for CY23/24 for top clients of IT firms have remained broadly unchanged, estimates for clients of TechM & Wipro have seen a downward revision by 1-5 percent.
MARKETS
Indian Hotels shares up 4 percent, highest in 15 Weeks
The company's stock advanced 63% in the past 52 weeks, compared with a 43% increase for the company's peers, as per Bloomberg data.
EARNINGS
Polycab India profit rises 31% in Q4: What brokerages are saying?
The company beat street expectations and reported a 31 percent YoY growth in net profit at Rs 425 crore. Brokerages remain largely optimistic on the back of strong execution and heathy volume growth.
EARNINGS
Bharti Airtel likely to post 15% rise in Q4 net profit at Rs 2,318 crore
An increase in average revenue per user may be offset by a drop in subscribers after minimum recharge plans were increased.
EARNINGS
Sonata Software shares shed 5% on sluggish Q4 growth
The company's Q4 FY23 net profit declined 3 percent QoQ to Rs 114 crore, while net sales saw a 15.36 percent QoQ decline to Rs 1,913.50 crore. However, the consolidated EBITDA rose 2 percent QoQ to Rs 177 crore and 15 percent YoY.
EARNINGS
Data Patterns shares drop 4% on slump in Q4 net profit
The Chennai based electronics solution provider to the aerospace and defense industry reported a 10 percent YoY drop in net profit to Rs 55 crore while revenue grew 9 percent to Rs 189 crore.
EARNINGS
Dish TV shares slip 4% after Q4 revenue declines 21.5%
The direct-to-home (DTH) service provider reported a 21.5 percent decline in consolidated revenue to Rs 504.8 crore while earnings before interest, taxes, depreciation and amortization (EBITDA) decline 93.5 percent to Rs 23.5 crore.
BUSINESS
Vodafone Idea gains 7% on plans to raise capital for 5G rollout
Vodafone Idea's shares went up after telecom secretary K. Rajaraman, in an interview with Mint, said the company is set to reveal revival plans within a month.
BUSINESS
RVNL trades 5% up on Mumbai metro contract
Rail Vikal Nigam Limited in partnership with Siemens India has got a Letter of Acceptance from Mumbai Metropolitan Region Development Authority for a project that involves two orders
MARKETS
Mankind Pharma slips 5.5% as I-T dept searches Delhi office
The I-T search of the firm's Delhi office comes just two days after the company's successfully listed on the stock exchanges
EARNINGS
Zen Tech trades 8% up after Q4 profit jumps 510%
The company’s consolidated net profit for the quarter ending March 2023 came in at Rs 20 crore, up 510 percent compared to Rs 3 crore reported in the corresponding period of last fiscal year. Total revenue for the quarter grew 215 percent to Rs 96 crore.
EARNINGS
Paytm up 5% on sustained growth in Q4; JPMorgan sees 37% upside
The company narrowed its consolidated net loss to Rs 168 crore from Rs 761 crore in the year-ago period. Consistent execution on profitability will keep the company on track to tap an attractive profit pool, says JPMorgan
MARKETS
Paytm stock climbs 4% as street expects robust Q4
Paytm's shares gained 4% on May 5 ahead of the Q4 results, with analysts expecting a robust performance for the quarter, on the back of improved numbers on loan disbursal and new device addition fronts.
EARNINGS
Fino Payments Bank gains 4% as Q4 profit zooms 25% to Rs 22 crore
The company’s net profit jumped 25 percent YoY to Rs 22 crore while total revenue increased 13 percent YoY TO Rs 323 crore. Total deposits for the quarter jumped 66 percent on a yearly basis to Rs 1,200 crore.
EARNINGS
Aarti Drugs trades 5% higher on steady March quarter earnings
The company reported a 7 percent increase in revenue to Rs 743 crore compared to Rs 697 crore reported in the corresponding quarter of last fiscal while net profit increased marginally by 2 percent to Rs 56 crore.
EARNINGS
Coforge gains 4% on crossing $1-bn revenue milestone: What do brokerages say?
The company reported a 48 percent YoY decline in net profit at Rs 117 crore, however revenue from operations increased 25 percent YoY to Rs 2,170 crore.
EARNINGS
Mphasis shares gain 2% despite missing Street projections for Q4
Mid-cap IT services company, Mphasis reported a 3.4 percent sequential decline in net profit at Rs 405 crore while revenue came in at Rs 3,361 crore, down 4.14 percent QoQ.
EARNINGS
Tech Mahindra Q4 earnings miss expectations, Street keeps a cautious stance
Tech Mahindra on April 27 reported a 26 percent YoY decline in net profit at Rs 1,125 crore with revenue coming in flat sequentially at Rs 13,718 crore. Overall street sentiment remains watchful with analysts remaining cautious due to the challenging macro environment and largely expect muted growth in FY24.
EARNINGS
LTIMindtree logs in 22% rise in Q4 revenue, but flat profit keeps brokerages divided
IT firm, LTIMindtree posted flat profit for the quarter ending March 2023 at Rs 1,114 crore while reporting a 22 percent jump in revenue at Rs 8.691 crore. Street sentiment is mixed with IDBI Capital upgrading its rating from 'hold' to 'buy' and expects the company to return to strong growth trajectory in FY25. However, Kotak Institutional Equities has given the stock a 'reduce' rating and expects a slow start to FY24.
BUSINESS
Tech Mahindra may log in 11% decline in net profit for Q4, margins likely to remain flat
The IT services firm is seen reporting a 14 percent increase in consolidated revenue on slowing deal closures and loss of wallet share among its top clients.
BUSINESS
Wipro topline may rise 13% but a marginal uptick likely for bottomline in Q4
Wipro Q4 Preview: Consolidated revenue expected at Rs 23,505 crore, registering 12.7 percent year-on-year growth, and net profit at Rs 3,156 crore, up 2.2 percent YoY, according to a poll of brokerages
BUSINESS
Vodafone Idea surges 6% on Emirates Telecom stake boost for Vodafone Plc
Emirates Telecommunications Group Co increased its stake in Vodafone Group Plc, the holding company of Vodafone Idea, from 14 percent to 14.6 percent. It has the regulatory nod to take the stake to 15 percent
BUSINESS
Earnings momentum unlikely to resume soon, says Harsha Upadhyaya of Kotak MF
Harsha Upadhyaya, CIO Equity at Kotak Mutual Fund, expects a range-bound market in the near term, citing the unlikely resumption of earnings momentum. He remains cautious on the IT and new-age space and is bullish on sectors with steady earnings growth, such as banking, auto, cement, and industrials.
BUSINESS
Zomato share price gains 8% on large block deal
Zomato's 1.5 crore shares, or 0.2 percent equity, worth Rs 88.2 crore changed hands at an average price of Rs 59 a share. Buyers and sellers were not immediately known
