Indian equity market snapped three sessions of a losing streak on Wednesday, powered by a rally in banking, auto, and capital goods shares. Sensex closed 478 points higher at 57,625 and Nifty climbed 140 points to end at 17,123. Mid-cap and small-cap indices on BSE rose 164 points and 61 points, respectively. Banking, capital goods, and auto shares were the top sectoral gainers with their BSE indices zooming 493 points, 235 points, and 284 points, respectively.
Infosys, MindTree, Angel One, Cyient, Anand Rathi Wealth, Den Networks, Aditya Birla Money, Alstone Textiles (India), Roselabs Finance, Atharv Enterprises are among the companies that will announce their results for September 2022 quarter today.
Infosys: The IT major will announce its Q2 earnings today .
HCL Technologies: The IT firm posted a 7 per cent rise in its consolidated net profit for September quarter at Rs 3,489 crore. It raised the full year revenue guidance citing strong demand and deal pipeline despite macro concerns.
Wipro: The IT services company reported a 9.3 per cent fall in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings. Power Grid Corporation: LIC has sold over 2 per cent of its holding in the state run utility firm in the past five months for Rs 3,079.43 crore, the insurer said. There is a decrease of 2.003 per cent in holding during the period from May 18, 2022 to October 11, 2022.
Tata Power: The Tata Group's utility arm will set up a 7 MW solar project for Tata Motors in Pantnagar. The project once completed will generate 215 million units of electricity, mitigating over 1.7 lakh tonnes of CO2.
BHEL: State-owned engineering player has inked two separate agreements with Coal India and NLC India Ltd NSE to set up coal gasification based plants. Under the Memorandum of Understanding with Coal India, BHEL said it will jointly set up a coal to ammonium nitrate project based on gasification of high ash domestic coal.
PVR, Inox Leisure: The multiplex operator has received nod from its shareholders for the scheme of merger with rival Inox Leisure. The movie player convened a meeting of its shareholders on Tuesday following the directions of the Mumbai bench of the National Company Law Tribunal (NCLT).
Sonata Software: The global IT services and technology solutions company said it has inked an agreement with eir evo, Ireland's leading telecommunications and ICT solutions provider, to support the standardisation of their CRM platform migrating them from Salesforce to Microsoft Dynamics.
Mishtann Food: The packaged food products maker, which announced to set up a 1,000 Kilolitres Per Day (KLPD) grain-based ethanol manufacturing facility in Gujarat, is looking to expediate its plans. The proposed plant is expected to be operational form the second quarter of 2024.
Suven Life Sciences: The pharma company's board has approved a rights issue of 7,26,91,239 shares for Rs 399.80 crore. The issue price is Rs 55 per equity share. The rights entitlement ratio is 1:2, one rights equity share for every two shares held by the eligible equity shareholders of the company.
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