The IT services giant is also slated to hold a board meeting on April 13 and 14, to approve of and take on record the consolidated financial results of the company for the quarter and year ended March 31, 2021. Indian IT majors will be announcing their fourth quarter (Q4) and 2020-21 results starting April 12. At the end of the Q3 FY21 Infosys had cash and investment of $4.5 billion.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The focus of the company would be to develop its capability across segments of injectables, vaccines, biosimilars, inhalation and APIs to drive growth.
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
Infosys is likely to report strong revenue growth in the fourth quarter of FY19 on the back of momentum in the big deal space.
Auto firms are likely to perform better in coming months.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
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