Stocks of HCL Technologies will be in focus as the company on Wednesday warned of tepid revenue growth for the September quarter.
The BSE Sensex and NSE Nifty on Thursday opened on a strong note tracking firm global markets. At 9.23 am, Sensex was up 211.57 points at 26,366.40. Similarly, Nifty was up 39.70 points at 7,988.60 during the same time.
Infosys: The IT major on Wednesday said that it has partnered with digital industrial company General Electric (GE) to develop new solutions for the Internet of Things (IoT).
HCL Tech: Stocks of HCL Technologies will be in focus as the company on Wednesday warned of tepid revenue growth for the September quarter, impacted largely by the depreciation of multiple currencies against the US dollar and a strong likelihood of a disengagement in a multi-million dollar contract. The stocks fell around 15 per cent in the opening trade.
Tata Motors: Standard & Poor’s Ratings Services (S&P) has downgraded the rating for Tata Motors from ‘positive’ to ‘stable’ on account of slowdown in China and continuing capital expenditure at Jaguar Land Rover.
Godrej Properties: In one of the largest office space transactions, Godrej Properties on Wednesday announced the sale of 4.35 lakh sq ft in its commercial project at BKC, Mumbai for about Rs 1,480 crore.
Punjab National Bank (PNB): The public sector bank has cut the base rate by 0.40 basis points (bps) from 10 per cent per annum to 9.60 per cent per annum with effect from October 1.
Kalpataru Power: The engineering firm has bagged two contracts worth Rs 781 crore. The company has secured one contract for transmission line projects in international geographies Malawi and Kuwait of approximately Rs 594 crore. While the second contract is for a pipeline project worth around Rs 187 crore from ONGC.
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