India's second largest IT services company Infosys on Wednesday said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. Infosys had clocked a net profit of Rs 4,845 crore in the same period last fiscal, according to a regulatory filing. The Bengaluru-based company saw its revenues rising by 20.5 per cent to Rs 29,602 crore in the quarter under review (Q2FY22) from Rs 24,570 crore in the year-ago period.
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
Poddar-Mallya agreement on running MCF likely to be re-worked.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
Global IT firms seeing dearth of talent in countries such as US, looking for people with such skills from countries like India
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
The money was paid to Mallya in two tranches in his offshore accounts.
.jpg)
Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
Experts believe volatility is here to stay for some time, at least till China stabilises and clarity regarding the US Fed's interest rate move emerges.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
Confirming the sale, senior executives of public-sector banks said there was no court directive yet to stop selling shares.
UBHL chairman sold 8.41% stake, but didn't disclose.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Kingfisher said the price was arrived in accordance with the pricing guidelines prescribed under the Securities and Exchange Board of India, which is the average of the past six months' price, 30 days prior to the relevant conversion date.
.jpg)
Lawyers say open offer must for twin stake purchase to meet Sebi rules.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
USL is already contesting a Karnataka High Court order.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Mallya will now be the Founder Emeritus of USL
Sources close to the development told PTI that the open offer was expected to be announced next week. The share price for the open offer would be Rs 155 per share, the amount UB Holdings paid for picking up the 26 per cent stake.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
The Supreme Court on Tuesday issued notice to the market regulator Securities and Exchange Board of India on the issue of settlement reached between Vijay Mallya's UB Group and Chhabria Group
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
Local businesses are fretting over reform setbacks.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Sebi, in an affidavit, said its August 1 order asking Mallya and Chhabrias to make open offers to divest their stakes in excess of 21.38 per cent and 10 per cent shares respectively in Herbertsons Ltd, should be upheld by the Apex Court.
Calcutta HC dismisses United Bank of India's decision on technical grounds
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances