Market Commentary - Stock Alert
IndusInd Bank, SBI, Wipro, Adani Enterprises in focus As on : 19-Jan-23  08:59

IndusInd Bank: The private lender's standalone net profit surged 68.71% to Rs 1,959.20 crore on 19.96% rise in total income to Rs 11,533.74 crore in Q3 FY23 over Q3 FY22. IndusInd Bank's consolidated net profit stood at Rs 1,963.64 crore in quarter ended 31 December 2022 as compared to Rs 1,241.55 core posted in Q3 FY22, registering a growth of 58.16%.

State Bank of India (SBI): SBI has raised Rs. 9718 crore through its second infrastructure bond issuance on Wednesday at coupon rate of 7.70%. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 15 years.

Wipro: The IT major announced the opening of its newest Wipro-AWS Launch Pad Center in Toronto, Canada. Joining a global network of Wipro-AWS Launch Pad Centers, this new one will enable customers in Canada to accelerate their move to the cloud and build industry leading solutions leveraging Wipro and AWS expertise.

Persistent Systems: The company reported 8.2% rise in consolidated net profit after reversal of export incentive to Rs 237.95 crore on a 5.9% increase in revenues to Rs 2169.36 crore in Q3 FY23 over Q2 FY23.

Adani Enterprises: The board of directors of the company approved the floor price of the offer to be Rs 3,112 per FPO equity share and the cap price of the offer to be Rs 3,276 per FPO equity share for all categories of investors.

Vedanta: Vedanta has been declared successful bidder post submission of bid for Meenakshi Energy Limited under Corporate Insolvency Resolution Process (CIRP) under IBC. The board of directors of Vedanta has approved the acquisition of Meenakshi Energy.

Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected the company's wholly owned subsidiary, APL Health Care Limited's Unit I & III, facility located at Jadcherla, Telangana, from 9 January to 18 January 2023. At the end of the inspection, it has issued a 'Form 483' with 2 observations.

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