Market Commentary - Stock Alert
Infosys, HDFC Bank, Zee Entertainment to be watched As on : 17-Apr-23  08:42

Infosys: The IT major reported 7% decline in consolidated net profit to Rs 6,128 crore on a 2.3% fall in revenues to Rs 37,441 crore in Q4 FY23 over Q3 FY23. On a year on year basis, the company's net profit and revenues are higher by 7.8% and 16%, respectively as compared with Q4 FY22.

The IT giant issued a revenue growth guidance of 4% - 7% in constant currency and operating margin guidance of 20% - 22% for FY24.

HDFC Bank: The bank's net revenue grew by 21% to Rs 32,083 crore in Q4 March 2023 from Rs 26,509.8 crore in Q4 March 2022. The bank's net profit rose 19.8% to Rs 12,047.5 crore in Q4 March 2023 over in Q4 March 2022.

The board of directors of HDFC Bank approved the issuance of Perpetual Debt Instruments, Tier II Capital Bonds and Long-Term Bonds up to total amount of Rs. 50,000 crore over the period of next twelve months through private placement mode.

HCL Technologies: The IT major on Thursday (13 April 2023) announced that its digital business services head, Anand Birje, has decided to leave the company to pursue another opportunity. Birje will continue to serve till 5 May 2023, said the company.

Zee Entertainment Enterprises: Invesco Oppenheimer Developing Markets Fund is reportedly likely to sell 5.65% stake in the company through block deals.

Adani Green Energy (AGEL): AGEL said its sale of energy for solar portfolio increased by 6% YoY at 2,872 million units in Q4 FY23 as against 2,717 million units in Q4 FY22.

TVS Motor Company: TVS Motor Company on Friday announced that its subsidiary, TVS Motor (Singapore) has completed the acquisition of 25% stake in Kilwatt GmBH. Killwatt is a privately held GmbH.

Muthoot Finance: Muthoot Finance announced that it has completed the pre-payment of external commercial borrowings to the tune of $225 million on 13 April 2023.

VA Tech Wabag: The water treatment company on Thursday announced that its board had granted approval for the sale of 100% stake in Wabag Wassertechnik AG, Switzerland (Wabag Switzerland).

PCBL: PCBL announced the commencement of commercial production of first phase 63,000 MT out of 147,000 MT Greenfield carbon black manufacturing facility in Tamil Nadu, effective from 14 April 2023.

Spandana Sphoorty Financial: Spandana Sphoorty Financial said that its board has considered and approved the issuance of non convertible debentures (NCDs), aggregating to Rs 200 crore in two tranches on private placement basis.

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