Kacholia first entered the stock in September 2020 by picking up a 2.9 per cent stake, Trendlyne data shows. In the June quarter, he had sold 0.2 per cent stake. Mastek shares ended 4 per cent higher today at Rs 2,185.65 on BSE. Having rallied nearly 700 per cent in the last five years, the stock has lost over 28 per cent of its value year-to-date.
Profit before tax increased to $644 million in the six months ended June 2022 from $529 million a year ago led by a 70% increase in the profit from the bank's corporate centre division, which provides support services to the bank globally increased to $131 million in the first six months of 2022 from $77 million a year ago.
Under shareholder criticism for decisions related to capital allocation and minority investments, Goyal said there is no plan to make any more minority investments. "We are in cash conservation mode, and are busy executing what we already have on our plates right now," he said.
The global banking and markets business, which helps the credit needs of Indian corporates having a worldwide footprint and also includes the debt and equity capital markets team, reported a profit of USD 324 million in January-June 2022 as against USD 317 million in the year-ago period.
The company is a technology-driven financial solutions and services platform focused on providing financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on its platforms.
"Strong global cues and optimistic vehicle sales numbers from select frontline automobile companies fuelled another round of rally in domestic equities," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Shares of Bharti Airtel advanced 2.40 per cent to Rs 694.20 apiece and that of Vodafone Idea jumped 3.99 per cent to Rs 9.12.The 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to settle at 58,115.50.
As many as 342,300 passenger vehicles were sold in July, as per industry estimates, an increase of 16% from a year earlier when manufacturers dispatched 295,000 units to dealerships. Prior to this, passenger vehicles sales had peaked at 334,000 units in October 2020.