Stocks to watch: Infosys, Mindtree, Reliance, HDFC Life, Tata Steel

InfosysIndia’s second largest IT services company Infosys on Thursday reported a better-than-expected 11% growth in consolidated net profit. Announces buyback of 6,021 crore more shares for September quarter 9,300 crores. The Bengaluru-headquartered company raised its FY23 revenue growth guidance to 15-16%. Infosys Board has also declared interim dividend of 16.50 per share. Interim dividend payout will be approx. 6,940 crores.

MindtreeIT company Mindtree on Thursday reported a 27.5% year-on-year increase in its consolidated net profit 508.7 crore for the September quarter. Sequentially, net profit was up about 8% over the June quarter. Q2 revenue approx. came on 3,400.4 crore, growing 8.9% over the previous sequential quarter and 31.5% year on year. The total contract value or TCV crossed USD 1 billion for the first time in the first half of the financial year.

Reliance IndustriesReliance Industries Limited is in advanced discussions to acquire German firm Metro AG’s wholesale operations in India, according to people familiar with the matter, as the billionaire Mukesh Ambani-led conglomerate seeks to dominate India’s vast retail sector. The Charoen Pokfund Group company is no longer actively in talks with Metro, leaving only Ambani’s Reliance to pursue the carry business.

ONGC: A consortium led by ONGC Videsh Limited (OVL), and other state-run companies comprising Indian Oil Corporation Limited (IOCL), Bharat Petro Resources Limited (BPRL) and Oil India Limited (OIL), is looking to buy a stake in a Is. Two people who produce hydrocarbon assets of Abu Dhabi National Oil Company (Adnok), the largest oil company in the United Arab Emirates (UAE), were made aware of the matter. The proposed transaction is being facilitated through government-to-government dialogue between India and the United Arab Emirates.

HDFC LifeInsurance sector regulator IRDA has given final approval to HDFC Life Insurance Company Limited (HDFC Life) to merge Exide Life with the company. In January this year, HDFC Life acquired 100% stake in Exide Life Insurance Company from its parent firm Exide Industries 6,687 crore to increase its presence in the South India market.

angel one: Angel One, a mid-cap broking company with a market cap of 13,228.51 crore, the Board of Directors declared a second interim dividend of Rs. Set the record date for that purpose to determine the 9 per share and shareholders’ eligibility. Company registers 17.7% sequential growth in profit 213.6 crore for the quarter ended September FY23.

MTNLState-owned MTNL on Thursday said its shareholders have approved the proposal to raise up to Rs. 17,571 crore through government-guaranteed debt bonds on private placement basis. Shareholders of the loss-making public sector telecom firm have also increased the board’s borrowing power. 35,000 crore from banks and other financial institutions, as per the result of scrutiny report of the Annual General Meeting of MTNL held on October 10.

Tata SteelTata Steel’s subsidiary Tata Steel Long Products on Thursday said the company has acquired equity shares in its subsidiary Nilachal Ispat Nigam Limited. 300 million. The company has acquired 4,68,75,000 equity shares of at a premium of 10 each 54 per share. The company will now own 95.81% of Nilachal Ispat Nigam Limited.

Coal IndiaAs part of its diversification program for clean energy, Coal India Limited (CIL) on Thursday signed a Memorandum of Understanding (MoU) with Rajasthan Vidyut Utpadan Nigam Limited (RRVUNL) for the development of a 1190 MW solar power plant in the state. Put signature on. Coal Ministry said in a statement. The project will boost CIL’s exploration of solar power generation as part of its diversification program for clean coal energy.

Anand Rathi WealthNon-bank wealth solutions company Anand Rathi Wealth on Thursday reported 41% growth in profit after tax 43 crores for the three months ending September 2022. In comparison, the company had posted a PAT (Profit After Tax) of 30.4 crore in the year-ago quarter, Anand Rathi Wealth, part of Mumbai-based financial services conglomerate Anand Rathi, said in a statement.