Business news, strategy, finance and company insights

0

Top winners and losers

On the BSE Sensex pack, 24 of the top 30 stocks flashed red, except for NTPC, Tata Steel, HUL, Nestle India, Mahindra & Mahindra and Maruti Suzuki India.

IT heavyweight Infosys was the worst performer with a 7% loss, followed by Tech Mahindra (-5.29%), Housing Development Finance Corporation (-3.90%), HDFC Bank (-3.78%) , Wipro (-3.56%), among others. .

Shares of Infosys fell 7.5% to ₹1,617 apiece on BSE after the country’s second largest software exporter posted earnings below expectations in the fourth quarter ended March 31, 2022. The consolidated net profit grew by 12% year-on-year to ₹5,686 crore in the January-March quarter of FY2021-22, while its revenue grew by 22.7% year-on-year to reach ₹32,276 crore in the fourth quarter of FY22. Going forward, the company expects its revenue to grow by 13% to 15% in constant currency for FY23.

Investors continued to profit from HDFC Group shares after merger plans were revealed. Shares of mortgage lender HDFC have fallen nearly 7% over the past week, while private lender HDFC Bank has fallen nearly 4% over the same period.

HDFC Bank, the country’s largest private sector lender by assets, reported a 22.82% year-on-year (YoY) growth in net profit to ₹10,055.2 crore on Saturday. for the fourth quarter ended March 31, 2021. Net income (net interest income plus other income) increased by 7.3% year-on-year to ₹26,509.8 crore in the fourth quarter of FY22. For the full financial year ending March 2022, net profit increased by 18.8% YoY to ₹36,961.3 crore, while total revenue increased by 7.7% YoY to 1.57 ₹ lakh crore in the quarter under review.

Share.

Comments are closed.