US Stock Reports, Quotes and News
BJP leader Amit Shah and his wife have a diverse stock portfolio, with investments in over 180 companies. Their top 10 stock bets are concentrated in specific companies, with significant holdings in various sectors like banking, FMCG, and pharma.
The broader NSE Nifty climbed 151 points or 0.69% to finish at 22,147. Among the Sensex constituents, Bajaj Finance, M&M, HDFC Bank, JSW Steel, and Maruti emerged as the top gainers, registering gains of 2-3%. Infosys, HCL Tech, and TCS closed 0.6% to 1.2% lower, resulting in a 0.4% decline in the IT index.
Infosys (NS:INFY) announced a robust performance for Q4 FY24, with a net profit of INR 7,975 crore, marking a significant 30% YoY increase. Despite challenges, the company reported a 1.3% YoY growth in revenue, reaching INR 37,923 crore.
Wipro Share Price: Following disappointing Q4 results from Infosys, investor sentiment towards IT stocks soured, leading to pressure on Wipro shares. Wipro is slated to unveil its March quarter numbers post-market hours.
Murthy\’s grandson owns 15 lakh shares or 0.04% stake in the Bengaluru-based software services exporter. At today\’s market price of Rs 1,400, the value of his holding comes to Rs 210 crore. The record date for the payment of the final dividend and a special dividend has been fixed at May 31, while the payment will be made on July 1.
Murthy\’s grandson owns 15 lakh shares or 0.04% stake in the Bengaluru-based software services exporter. At today\’s market price of Rs 1,400, the value of his holding comes to Rs 210 crore. The record date for the payment of the final dividend and a special dividend has been fixed at May 31, while the payment will be made on July 1.
Sandip Agarwal asks: \”Despite a strong TCV, why is the growth guidance so low? We are not able to connect the dots of what is pulling down growth so much and why they are projecting this kind of growth. In my view, this guidance and these numbers are on the lower side of what anyone would have been anticipating.\”
Profit climbed to ₹7,969 crore in the March quarter, beating ET\’s poll of ₹6,103 crore. Other income buttressed the bottom-line through what turned out to be a tough year for revenue expansion, which hit the lowest pace in a decade. Headcount shrank by about 26,000, again a rarity for India\’s technology bellwether.
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.
Q4 Results Today: Mixed Q4 earnings for IT sector with TCS outperforming and Infosys lagging. Awaited reports from companies like Wipro, Hindustan Zinc, Sejal Glass, and others will provide further insight into the sector\’s performance.
(Updated – April 18, 2024 8:12 AM EDT) Infosys Limited (NS:INFY) shares plunged nearly 6% in early U.S. trading Thursday after the company missed analysts\’ fourth-quarter revenue estimates and issued downbeat guidance.
\”Infosys weak quarterly numbers, lower-than-expected guidance for FY25 and declining headcount reflects continuity in weak, with the only silver lining being strong large deal TCV in Q4 and record $17.7 billion in FY24,\” said Sanjeev Hota, Head of Research, Sharekhan by BNP Paribas.