US Stock Reports, Quotes and News
Infosys Share Price: Infosys shares fall 3% after revenue decline. EBIT margin declines to 20.1%. FY25 revenue growth guidance impacted by discretionary spending weakness. Brokerages cut target prices. Analysts remain optimistic about Infosys\’ growth potential in the future.
AMSTERDAM (Reuters) – Chinese spies have targeted the Dutch semiconductor, aerospace and maritime industries to try to strengthen China\’s armed forces, the Dutch military intelligence agency MIVD said in its annual report published on Thursday.
Mukul Agrawal has bought stakes in 3 companies, besides PTC, in the March quarter. He now has a stake of 1.8% and 1.7% in Dredging Corporation of India and West Coast Paper Mills, respectively.
Bajaj Auto Q4 Results: The company had reported Rs 1,432.88 crore net profit in the year-ago period. The standalone revenue for the reported quarter stood at Rs 11,484.68 crore, up 30% from Rs 8,904.72 crore reported in the corresponding period of the last financial year.
Infosys declared dividends for FY 2024, set AGM and payment dates, introduced Capital Allocation Policy aiming to return 85% free cash flow. Focus on net profit growth and Project Maximus. Shares closed at Rs 1,420.55.
Jhunjhunwala owned about 1.8% stake in Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.
The company’s troubles started in October when it warned that demand for EVs was starting to slow, but the full extent of that weakness only became apparent this month when Tesla reported first-quarter sales significantly below analysts’ expectations.
Broadband technology company Sterlite Technologies has raised Rs 1,000 crore by issuing equity to qualified institutional investors (QIPs), which include both Indian and international investors, the company announced on Tuesday through a stock exchange filing.
In February last year, NSE had excluded Zee from the F&O segment after the NCLT admitted an insolvency plea filed by IndusInd Bank against the company.
GQG had invested around Rs 2,400 crore for acquiring a 5.96% stake in the offer for sale of Patanjali in July 2023. The US-based investment firm has been increasing its exposure to India after investing in the Adani group. It holds positions in companies including ITC and Sun Pharmaceutical Industries.
Reliance Industries Ltd to announce March quarter results on April 22, including potential dividend approval. Analysts anticipate profit decline and revenue growth. O2C business is expected to see refining throughput decline and GRM increase.
While noting that the reforms in crude and gas pricing have improved the company\’s profitability above past decade averages, Jefferies expects strong free cash flow generation and consolidated net debt reduction on profitable production growth over FY 24-26.