Infosys gains on fixing record date for 1:1 bonus
Posted on 27th August 2018 |
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| Shares of Infosys was up 1% to Rs 1,397 on the BSE in early morning trade after the information technology (IT) firm said it has fixed September 5, 2018 as record date for the purpose of allotment of bonus shares/stock dividend. The stock will turn ex-date for bonus shares on September 4, 2018. The stock of Infosys had underperformed the market in last week, by falling 3.6% after the company’s chief financial officer (CFO) M. D. Ranganath decided to leave the company. In comparison, the S&P BSE Sensex was up 0.8% till Friday. The scrip touched an all-time high of Rs 1,437 on August 17, 2018 on the BSE in intra-day trade. The brokerage firm Motilal Oswal Securities has ‘buy’ rating on the stock with a target price of Rs 1,600 per share. Infosys had announced that the board of directors at its meeting accepted the resignation of M.D. Ranganath as the CFO. Ranganath will continue in his current position as CFOI till November 16, 2018. The company has not announced the replacement for him, but will immediately commence the search for the next CFO. Infosys’s stock rallied 38% CYTD and 26% FTYD, leaving little room to absorb more instability. Hence we expect the stock to lose some of the built-up steam in the near future, the brokerage firm said in a note. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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