Strong refining and petrochemical margins seen boosting consolidated net by up to 6%
Core acquired Georgia-based education solutions company Technical Systems Integrators and New York-based Keenan and Keenan Group, an education consultancy. The two companies have a combined turnover of $25 million, with an average Ebit (earnings before interest and taxes) margin of 16 per cent.
V-Mart, Manaksia, Whirlpool Global and few other companies posted better third-quarter results.
Other losers in the Sensex pack included IndusInd Bank, Tata Motors, TCS, Yes Bank and L&T, falling up to 3.26 per cent.
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
Wipro has signed a definitive agreement to acquire mPower Inc, a Princeton, New Jersey-based company with a development centre in Chennai, and MPACT Technology Services, based in Chennai, for an all-cash consideration of $28 million.
While Airtel's India wireless operational performance was one of its worst in recent times, Jio surprised the Street by reporting a higher expected operating and net profit.
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
TCS kicked-off the Q1FY17 earnings season for information technology companies on Thursday.
The good news for the group has come from the port business.
The thrust, they feel, remains on design thinking, AI and digital besides enhanced focus on investing in selling and marketing efforts, expanding local talent base and re-skilling staff
Will Infosys, which will announce its Q2 results on Tuesday, be able to break away from the single-digit growth rates the IT services sector has been seeing?
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
RIL's December quarter performance is likely to be muted
Accenture -- considered as one of the top-most employers in India among the global technology services companies -- is believed to have over 150,000 workers in India, next to IBM.
The launch of Reliance Jio Infocomm Ltd last September, particularly the tariff war it has unleashed on its competitors, has deepened the crisis facing India's telecom sector. One offshoot of this is the major drop in earnings reported by industry leaders Bharti Airtel and Idea Cellular with each passing quarter. Aslam Hunani/Rediff.com tells the story in numbers.
RIL's profit before interest and depreciation increased by 8%.
M&M also plans to significantly increase its play in the domestic market where it is already ahead of its rivals Tafe, Escorts, Sonalika Tractors by a wide margin
The company has charted out a three step process in achieving the target
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
Some analysts believe underperformance of the TCS stock may continue.
Company feels automation is a big tool to drive down costs and improve efficiency
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
HCL Technologies has to fine-tune strategies to improve performance in the March quarter.
Price cuts post the November GST rate rationalisation helped improve volume growth for HUL, what pegged back sales for ITC is adverse social media rumours against Aashirvaad atta, its single-largest FMCG brand.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
Investors will look at how TCS has performed when it announces the quarter's results on October 13, and the forecast from Infosys on October 14
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
The Aditya Birla group has slammed rating firm Moody's for placing Novelis, the group's aluminium products subsidiary, in line for a possible downgrade to default.
Infosys' aspirations to improve revenue per employee might also prove to be a tall task, believe analysts.
HCL Technologies and Infosys should benefit more than TCS and Wipro
Sensex gained nearly 0.4% or 96 points at 26087 level while Nifty ended up by 42 points or 0.5% at 7,791.40 level.
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
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