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Sensex today | Sensex rises nearly 100 points, Nifty above 14,550; Infosys plunges over 4% post Q4 earnings

Updated Apr 15, 2021 | 09:56 IST
Sensex today: Nifty IT, the IT sub-index of NSE, was down 1.30% led by Infosys, which fell over 4%.
Sensex today
New Delhi: The BSE Sensex and the Nifty opened higher on Thursday tracking mixed global cues. however, gains were capped as IT stocks led by Infosys witnessed correction after the company reported its fourth quarter earnings yesterday. As of 9:21 am, the Sensex was down 94 points or 0.19% at 48,638.37 and the Nifty50 index was higher by 42.50 points or 0.29% at 14,547.30. Nifty IT, the IT sub-index of NSE, was down 1.30% led by Infosys, which fell over 4%.
Infosys on Wednesday reported a 17.4% jump in fourth quarter profits to Rs 5,076 crore and 13.1% growth in revenue to Rs 26,311 crore. Operating margins stood at 24.5%, an increase of 3.3%. The company grew 2% in dollar terms sequentially over the third quarter.

India , New-delhi , Delhi , Sun-pharma , Maruti-suzuki , Harit-shah , Indusind-bank , Infosys , Wipro , Dr-reddy-lab , Cipla , Eicher-motors

Infosys aims to double its growth in FY22

Infosys aims to double its growth in FY22
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Last Updated: Apr 15, 2021, 08:27 AM IST
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Infosys, while declaring its Q4 results and revenue growth guidance on Wednesday, also announced a share buyback worth Rs 9,200 crore and a final dividend payout of Rs 15 per share.
Agencies
Terming Infosys’ growth forecast as “an extremely strong guidance”, CEO Salil Parekh said that “this is coming with a strong foundation and demand is coming through (in) a broad-based way".
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NSE
Bengaluru | Pune:
Infosys Ltd. said it would double its growth in the current financial year, as India’s second largest software services exporter struck a confident note—announcing a Rs 9,200-crore share buyback by paying not more than Rs 1,750 per share.

India , Salil-parekh , Pravin-rao , Harit-shah , Google , Wipro , Technologies-ltd , Tata-group , Infosys , Tata-consultancy-services , Wipro-ltd , Securitie-shah

Essential confusion

Essential confusion
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/ Morning Dispatch
E-commerce firms have appealed to both the
Maharashtra and central governments to lift the state’s ban on delivering non-essential goods. And yesterday evening, authorities in Mumbai clarified that food delivery platforms could continue to operate after 8 pm. Small mercies.
Also in today’s letter:
PhonePe takes stock
E-commerce firms petition govt on Maharashtra curbs
E-commerce firms are appealing to the Maharashtra government and the Ministry of Home Affairs (MHA) to reverse the state government’s order on Tuesday that banned non-essential e-commerce deliveries until May 1.
What’s going on?

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Amazon, Flipkart… Meesho?

Meesho CEO Vidit Aatrey believes there are structural problems in Indian e-commerce as even today, fewer than a million small businesses are selling online.

United-states , Mumbai , Maharashtra , India , Odisha , Orissa , Pune , China , Delhi , Bengaluru , Karnataka , Chennai

The tech stocks binge is hotting up again with the second wave of COVID-19

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“The fourth quarter is traditionally a soft quarter for IT companies, but this time around the street’s expectations are very strong,” Sanjiv Hota, vice president and head of research at Sharekhan told Business Insider India. That being said, some players are doing better than others on the stock market.
More than just the quarterly results, analysts believe that the inflow of demand due to the pandemic is also firming up the earnings of companies like TCS, HCL Technologies, Infosys and Wipro in the longer run. “A big shift that is happening. Earning visibility for the IT sector over the next two to three years is getting very strong,” Hota explained.

India , Harit-shah , Urmil-shah , Sanjiv-hota , Wipro , Infosys , Tata-consultancy-services , Business-insider , Reserve-bank , இந்தியா , ஹரித்-ஷா , ஊர்மீல்-ஷா

Mindtree expects offshoring to continue even after pandemic ends

Mindtree expects offshoring to continue even after pandemic ends
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Mindtree, which won new deals worth $312 million during the October-December quarter, said that its deal pipeline was the strongest it has ever been.
ETMarkets.com
Mindtree is also eyeing inorganic growth, looking at companies that would augment its capabilities or help it accelerate in specific technology areas, CEO Debashis Chatterjee says.
Pune:
Mindtree Ltd. expects offshoring to remain high even after the Covid-19 pandemic abates as clients have accepted the fact that employees are working remotely, the CEO has said.
“Our offshoring ratio was 83%, and I feel that this will remain high as people have realised that work from anywhere is the new normal,” said Debashis Chatterjee, chief executive officer at the mid-tier software services firm.

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Wipro result: Wipro likely to hit upper end of guidance in Q4 too

Wipro’s revenue came in at about 3.4% in constant currency terms which is somewhere close to the upper end of their guidance. We were expecting somewhere closer to 3% and they have definitely come out with a good set of numbers as far as the revenue aspect is concerned. The IT services profitability also has improved this quarter by about 40 bps and that was also above expectation.
There is nothing to complain about the headline numbers. As for guidance, that was slightly more optimistic. They had guided for 1.5-3.5%, which is similar to what they had guided for in the third quarter as well. But maybe nothing much to complain about. Given that they have been able to hit the upper end of the guidance this quarter, there is a good chance that they will hit somewhere close to the upper end even in the fourth quarter as well.

Harit-shah , Wipro , Senior-research-analyst , Wipro-result , Et-now , Stock-market , Kr-choksey , ஹரித்-ஷா , விப்ரோ , மூத்தவர்-ஆராய்ச்சி-ஆய்வாளர் , விப்ரோ-விளைவாக , மற்றும்-பலர்-இப்போது

Tech Mahindra signs agreement with FIS, to acquire captive unit in Asia

Tech Mahindra signs agreement with FIS, to acquire captive unit in Asia
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Last Updated: Jan 12, 2021, 07:14 PM IST
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As part of the agreement, Tech Mahindra will buy FIS subsidiary Payments Technology Services for $9 million.
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Tech Mahindra today announced a professional services agreement with FIS to scale its enterprise payments and banking capabilities.
The company will acquire Payments Technology Services, a subsidiary of FIS, for $9 million as part of the agreement. Based in Asia, Payments Technology Services is a payments solutions provider focused on the banking and financial services industries.
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