Bharti Airtel, Infosys, Wipro, Vedanta in spotlight
Bharti Airtel's consolidated net profit of Rs 1,134 crore in Q2 FY22 as against a consolidated net loss of Rs 763.2 crore registered in Q2 FY21.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 23 points at the opening bell. Overseas, Asian stocks are trading mixed on Wednesday as investors look ahead to the end of the U.S. Federal Reserve’s two-day meeting for clues on tapering. Here is the list of stocks that will be in focus in today’s trade.
Bharti Airtel: The telecom operator posted a consolidated net profit of Rs 1,134 crore in Q2 FY22 as against a consolidated net loss of Rs 763.2 crore registered in Q2 FY21. The telecom operator posted quarterly revenues of Rs 28,326 crore, rising 18.8% year on year on comparable basis and 13% YoY on a reported basis, backed by strong performance delivery across the portfolio.
Consolidated EBITDA witnessed an increase of 24.5% YoY to Rs 14,018 crore in Q2 FY22. EBITDA expansion was broad based across the portfolio. EBITDA margin improved to 49.5% in Q2 FY22 from 44.9% in Q2 FY21.
Infosys: Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and IBM, announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for financial services.
Wipro: The IT major has partnered with TEOCO to develop solutions that help communication service providers (CSPs) improve network automation, flexibility, efficiency, and reliability. Together, Wipro and TEOCO will provide CSPs with comprehensive solutions to plan, analyze, optimize, and monitor next-generation networks (NGN).
Sesa Mining Corporation: The board of directors of Sesa Mining Corporation (SMCL), an indirect wholly owned subsidiary of Vedanta has approved the acquisition of Desai Cement Company Private Limited (DCCPL). The acquisition will enhance the group’s portfolio with cement and help develop additional synergies through vertical integration.
eClerx Services: Companies consolidated net profit grew 10.3% to Rs 100.7 crore on a 6.2% rise in total revenue to Rs 525 crore in Q2 FY22 over Q1 FY22.
Mahindra & Mahindra Financial Services: The NBFC said that in October 2021, the business continued its momentum with a disbursement of about Rs. 2,650 crore delivering about 20% YoY growth.
PSP Projects: The company has received Letter of Acceptance for two projects viz one government project in Gujarat and another government residential project in Uttar Pradesh totaling to Rs 288.27 crore.