The Singapore Exchange’s Nifty futures traded 282 points, or 1.66 percent, higher at 17,239, indicating Dalal Street would have a good day on Friday. The following twelve stocks may be the most popular ones in today’s market.
The second-largest IT services provider in India, Infosys, reported a better-than-anticipated 11% increase in consolidated net profit for the September quarter at Rs 6,021 crore and planned a share buyback worth Rs 9,300 crore. A interim dividend of Rs 16.50 per share has also been declared by the Infosys board.
The insurance industry’s governing body, Irdai, has given HDFC Life Insurance Company NSE 1.22% (HDFC Life) full approval to integrate Exide Life into the business. Exide Life Insurance Company’s parent company Exide Industries NSE NSE 0.68% sold HDFC Life a 100% ownership in the company in January of this year for Rs. 6,687 crore.
BHEL: To establish coal gasification-based plants in the nation, the heavy electricals player reached a deal with Coal India and NLC India. According to the agreement, BHEL and CIL (Coal India) would establish coal gasification-based plants together. In addition, NLCIL will build a pilot plant for lignite-based gasification.
MindTree: An IT company, announced that its consolidated net profit for the September quarter increased by 27.5% year over year to Rs 508.7 crore. When compared to the June quarter, the net profit increased by nearly 8%. The Q2 revenue was estimated to be Rs 3,400.4 crore, up 31.5% year over year and 8.9% over the prior sequential quarter.
MTNL: The State-owned telecom company announced that its shareholders had accepted a proposal to fund up to Rs 17,571 crore through privately placed, government-guaranteed debt bonds. The loss-making public sector telecom company’s shareholders have also increased the board’s ability to borrow up to Rs 35,000 crore.
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