Market Commentary - Stock Alert
Infosys, HCL Tech, L&T, Godrej Properties in focus As on : 13-Jan-23  09:00

Infosys: Infosys reported 9.4% rise in consolidated net profit to Rs 6,586 crore on a 4.9% increase in revenues to Rs 38,318 crore in Q3 FY23 over Q2 FY23. The company's net profit and revenues are higher by 13.4% and 20.2% as compared with Q3 FY22.

The IT major has revised its FY23 revenue guidance to 16.0%-16.5% from 15%-16% stated at the end of Q2 FY23. The operating margin guidance has been retained at 21%-22%.

HCL Technologies: HCL Technologies reported 17.39% rise in consolidated net income to Rs 4096 crore on a 8.15% increase in revenues to Rs 26700 crore in Q3 FY23 over Q2 FY23.

HCL Technologies announced that State Farm, the leading provider of auto, home, and commercial insurance, has selected the company to reimagine its IT service desk and infrastructure operations. Also HCL Technologies announced that Mattel Inc., a leading global toy company and owner of one of the strongest portfolios of children's and family entertainment franchises in the world, has selected HCL Technologies to drive transformation across Mattel's global technology landscape cutting across applications, infrastructure and information security domains.

Larsen & Toubro (L&T): L&T has entered into a Business Transfer Agreement (Agreement) to transfer the Carved-out Business of Smart World and Communication (SWC) Business Unit to L&T Technology Services Limited (LTTS), a listed subsidiary of the company.

Godrej Properties: Godrej Properties announced that it has purchased 60 acres on an outright basis in the fast-developing micro market of Oragadam Junction, Chennai.

Rama Tubes: The company has signed a Memorandum of Understanding (MOU) with the Government of Uttar Pradesh for setting up of Steel Processing Unit including MS Pipes, STP Poles, Gl Pipes, CR Coils, GP Coils, Colour Coated Coils.

Rail Vikas Nigam (RVNL): RVNL has received LOA for “Provision of Automatic Block Signaling with Dual MSDAC, EI/OC Interface and Block Optimization in Southern Railway. The project cost is Rs. 38.97 crore.

V-Guard Industries: The company has completed the acquisition of 100% shareholding of Sunflame Enterprises for an aggregate consideration of Rs 680.33 crore. Accordingly, Sunflame Enterprises Private Limited has become a Wholly Owned Subsidiary of the Company with effect from 12 January 2023.

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