Mphasis reported a 4.6% sequential rise in net profit for Q2, reaching Rs 423 crore. Revenue increased by 3.3% to Rs 3,536 crore, while EBIT grew by 6% to Rs 544 crore. The company secured $207 million in total contract value, with significant gains across various verticals.
Posts in category Economic Times
Bikaji Foods shares in focus as co to acquire majority stake in Hazelnut Factory for Rs 131 crore (17-10-2024)
Bikaji Foods International will attract attention on Thursday following its announcement that its subsidiary, Bikaji Foods Retail, plans to invest Rs 131.01 crore for a 53.02% stake in Hazelnut Factory Food Product. The investment will occur in tranches, with the acquisition expected to be finalized over the next two years.
Hot stocks: Brokerage view on Bajaj Auto, KEI Industries, Zydus Life and L&T Tech (17-10-2024)
Macquarie rates Bajaj Auto as neutral citing disappointing gross margins, while Jefferies is optimistic on KEI Industries, raising its target price. Macquarie maintains positive outlook on Zydus Life despite patent issues. Investec retains a sell call on L&T Tech due to weaker performance and high risk.
L&T Technology Services shares in focus post Q2 margin miss. Should you invest? (17-10-2024)
LTTS will be in the spotlight today after announcing a slight 2% rise in its consolidated net profit, which reached Rs 320 crore for the quarter ending September 2024, up from Rs 315 crore the previous year. During the same period, operational revenue increased by 8% YoY, rising to Rs 2,573 crore from Rs 2,386 crore last year.
Pockets in auto, retail & PSU have run up too fast, too soon; avoid for next 6-9 months: Pawan Parakh (17-10-2024)
Pawan Parakh, Fund Manager at Geojit Financial Services, highlights the optimism in sectors like consumer distribution and manufacturing but cautions against the high valuations in the auto sector and some PSU stocks. He believes financial products and mutual funds are set for growth, while logistics and select consumer durables remain promising investment opportunities.
F&O Radar| Deploy Short Iron Condor in Nifty for potential gains from indecisive market (17-10-2024)
Nifty has been consolidating in a tight range of 24,900 to 25,300, with potential for a breakout of 200 to 300 points. Analyst Jay Thakkar suggests a Short Iron Condor strategy for stability, anticipating support between 24,700-24,800 and resistance at every 50 points till 25,200.