Infosys Q3 net up at Rs 1231 cr Infosys Technologies has announced its third quarter numbers. It has posted consolidated net profit of Rs 1231 crore for the quarter ended December 2007 as against Rs 1100 crore in previous quarter. Net sales went up to Rs 4,271 crore from Rs 4,106 crore QoQ. Infosys numbers are higher than guidance
Hindustan Motors (Rs.72.75) is likely to gain over the medium term on speculative news flow.
What the FIIs are doing
FIIs were net sellers of Rs2.5bn (provisional) in the cash segment on Thursday while the local institutions were net buyers of just Rs3.89bn. In the F&O segment, foreign funds were net buyers of Rs6.64bn.
On Wednesday, FIIs were net buyers of Rs2.75bn in the cash segment. Mutual Funds were net sellers of Rs2.01bn on the same day.
News Snippets:
Tata Motors launches its small car ‘Nano’ priced at Rs1 lac ex-showroom.
L&T has bagged Rs35.6bn order to construct residential and commercial buildings across the country.
Wipro Infotech wins a nine-year business transformation contract worth Rs24bn from Aircel.
Unitech gets regulatory approval to raise US$700mn through a public offer in the Singapore Stock Exchange.
SBI and ICICI Bank apply to the monetary authority of Singapore for a qualified full banking (QFB) license.
SBI Life Insurance plans to hit capital market by March 2009.
RIL reveals an extensive rig hiring plan to exploit the potential of its exploratory blocks.
GAIL signs a pact with Coal India to set-up a coal gasification project for production of a gas used to make fertilizers.
Wockhardt to mull de-merging its new drug R&D unit.
BPCL plans to raise Rs30bn through an IPO of Bharat Oman Refineries in next 3-4 months.
L&T gets Tamil Nadu Government nod to set-up an integrated shipyard.
Amtek Auto is closing to acquiring companies in US and Europe.
Bajaj Auto to invest Rs3bn to raise its holdings in KTM Power Sports to 25% from 14.5% currently.
Bharati Shipyard plans to set-up a greenfield shipyard at Usgaon near the Dabhol port.
Strides Arcolab has stopped operations of its loss-making US plant where it manufactured soft gelatin capsules.
Gati ties up with Air India to lease five cargo planes.
IRB Infrastructure Developers wins the contract to develop the fifth phase of NHDP at an estimated cost of Rs125bn.
Rolta plans to acquire a US firm offering business software services.
Granules India expects to get approval from European regulatory authorities for its new tablet facility.
Sterlite Technologies, a company promoted by Vedanta Group, may soon foray in the niche market of semiconductor manufacturing.
The DoT has issued LoIs to Unitech, Datacom, S Tel, Swan Connect Communications, Shipping Stop Dot Com, Idea, Tata Tele and Shyam Telelink.
DoT has cleared applications from Idea, Vodafone Essar and Aircel for granting 2G spectrum.
CBDT introduces new schemes to extend 100% deduction on profits derived by the activity of developing or operating an industrial park.
Indian Railways loadings register an 8% yoy growth for April-December 2007.