On Wednesday Wipro reported a 13.81 per cent YoY drop in profit at Rs 1,889 crore for September quarter, lower than Rs 1,962 crore analysts projected in an ET Now poll.
The IT major had reported Rs 2,191.80 crore profit in the same quarter last year. Net sales of the company rose 8.32 per cent to Rs 14,541 crore compared with Rs 13423.40 crore in the corresponding quarter of last year.
On a sequential basis, IT services revenues rose 4.9 per cent to Rs 14,377 crore as against Rs 13,700 crore in the June quarter.
Ebit for the IT segment fell to Rs 2,100 crore in July-September from Rs 2,397 crore in April-June. Ebit margin at 14.6 per cent for the second quarter was lower than 17.4 per cent in the first quarter.
Wipro, Bajaj Auto, GTPL Hathway, RCom, HCL Tech and Bharti Airtel
Nifty futures on the Singapore Exchange were trading 60.50 points, or 0.59 per cent, higher at 10,232.50, indicating a gap-up start for the Nifty50. Here’s a look at the top stocks that may hog the limelight in today’s session:
Wipro, Kotak Mahindra BankNSE 0.23 %, Bajaj Auto: Hexaware, IDFC Bank, InterGlobe Aviation, Bharat Financial Inclusion, WiproNSE -0.10 %, Kotak Mahindra Bank, Bajaj Auto, Jubilant Foodworks, Lakshmi Vilas BankNSE -2.81 %, TTK Prestige, Indiabulls Real Estate, Bajaj Holdings and Bharti Infratel are among dozens of companies, which will announce their quarterly results later in the day. Others included Larsen & Toubro Infotech, Jyothy Laboratories, Mahindra & Mahindra Financial Services and everest Industries.
Bharti Airtel: Six Leading Global Investors to invest $1.25 billion in Airtel Africa through primary equity issuance” issued by Airtel Africa Limited, a subsidiary company., the company said in a BSE filing on Wednesday.
GTPL Hathway: Reliance Industries (RIL) has begun talks to acquire a controlling stake in GTPL Hathway, a leading multi-system-operator (MSO) that dominates the Gujarat market, said people with knowledge of the matter. This follows the announcement of plans by RIL to acquire a majority interest in two of India’s largest cable TV and broadband services providers — Hathway Cable & Datacom and DEN Networks.
Reliance Communications: The Supreme Court has given Reliance Communications (RCom) time till December 15 to pay Swedish telecom equipment maker Ericsson its dues of Rs 550 crore, plus interest, bringing relief to the Anil Ambani-owned telco.
HCL Technologies: Software exporter HCL Technologies on Tuesday reported 16.10 per cent year-on-year rise in profit at Rs 2,540 crore for quarter ended September 30. Analysts in an ET Now poll had estimated the profit figure at Rs 2,432.40 crore. The company sees FY19 revenue growth at 9.5-11.50 per cent in constant currency terms.
Oil, aviation stocks: Oil prices on Wednesday extended falls from the previous day, when crude slumped as much as 5 per cent, after Saudi Arabia said it would make up for supply disruptions from US sanctions targeting Iran’s petroleum exports from next month, Reuters reported. Front-month Brent crude oil futures were at $76.37 a barrel, 7 cents below their last close.
NBFC stocks: Interest rates on listed bonds of non-banking finance companies have spiked amid concerns over the impact of the current liquidity crunch on the health of the sector. But, there are fewer takers for them as investors are averse to locking money into product they consider risky.