1. Infosys, TV18 Broadcast, RCom among 10 stocks that buzzed in today’s trade

Infosys, TV18 Broadcast, RCom among 10 stocks that buzzed in today’s trade

Tata Consultancy Services (TCS) on Thursday after market hours posted 4.51 per cent rise in net profit at Rs 6,603 crore for the second quarter ended September 30, 2016 against Rs 6,318 crore for the sequential quarter ended June 30, 2016.

By: | New Delhi | Updated: October 14, 2016 4:10 PM
BSE Sensex, NSE Nifty Tata Consultancy Services (TCS) on Thursday after market hours posted 4.51 per cent rise in net profit at Rs 6,603 crore for the second quarter ended September 30, 2016 against Rs 6,318 crore for the sequential quarter ended June 30, 2016.(Photo: Reuters)

The BSE Sensex ended 30.49 points, or 0.11 per cent, up at 27,673.60 on Friday, while the NSE Nifty index closed 10.05 points, or 0.12 per cent, up at 8,583.40. In the Nifty 50 index, GAIL gained the most — 4.07 per cent, followed by Larsen & Toubro (up 2.50 per cent) and Tata Motors DVR (up 2.20 per cent). On the other hand, Zee Entertainment, Infosys and HUL declined 3.56 per cent, 2.54 per cent and 2.47 per cent, respectively.

Infosys: Surpassing the expectations of the market, Infosys, India’s second-largest IT services exporter reported a 5 per cent sequential rise in net profit for the second quarter of FY17 boosted by strong volume growth and operational efficiencies but lowered its revenue guidance for FY17. Infosys reported a net profit of Rs 3,606 crore for the quarter ending September 30, 2016 and it represents a complete turnaround as the IT major in the first quarter had witnessed a decline of 4.5 per cent. On the revenue front, Infosys reported a 3.1 per cent sequential growth to touch Rs 17,310 crore which was much above the projections of the brokerages houses. Shares of Infosys closed 2.34 per cent down at Rs 1,027.40.

Tata Consultancy Services: Tata Consultancy Services (TCS) on Thursday after market hours posted 4.51 per cent rise in net profit at Rs 6,603 crore for the second quarter ended September 30, 2016 against Rs 6,318 crore for the sequential quarter ended June 30, 2016. Shares of the IT company settled 1.61 per cent up at Rs 2,365.90.

YES Bank: The bank has announced the launch of a unique digital working capital management solution YES TRANSACT: InvoiceXpress. The management solution will help the customers to digitise the complete process of invoice presentment, collection of payments, reconciliation and monitoring. YES Bank gained 0.39 per cent to Rs 1259.95.

Satin Creditcare: Satin Creditcare Network has informed bourses that the meeting of Working Committee of the Board of Director of the company is scheduled to be held on October 18, 2016 (Tuesday) for the issuance of Non- Convertible Debentures up to the amount of Rs 68 crore. Shares of the company closed 0.50 per cent up at Rs 559.45.

Shreyas Shipping: Shreyas Shipping and Logistics’ unit Shreyas Relay Systems has decided to sell stake of 51 per cent in SRS Freight Management to BSL Freight Solutions Private Limited. The scrip closed 3.19 per cent up at Rs 291.05.

Punjab National Bank: PNB Housing Finance has received capital markets regulator Sebi’s go ahead to raise Rs 2,500 crore through an initial public offering. PNB Housing Finance, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards augmenting its capital base. Shares of Punjab National Bank closed 0.76 per cent up at Rs 139.

TV18 Broadcast: TV18 Broadcast shares plunged nearly 7 per cent after the company reported 71 per cent fall in consolidated net profit at Rs 5.15 crore for the quarter ended September 30, 2016 against net profit of Rs 17.78 crore in the corresponding quarter a year ago.

Trident: Trident gained over 5 per cent on Friday after credit rating agency, CARE upgraded ratings assigned to Trident’s Long term Bank Facilities from ‘A-’ to ‘A’ worth Rs 2,334.85 crore and ‘A1’ from ‘A2+’ rating assigned to company’s Short term Bank Facilities worth Rs 350 crore. The rating agency has also revised rating of company’s Long-term/Short-term Bank Facilities worth Rs 1,200 crore from ‘A-/ A2+’ to ‘A/ A1’.

RCom: Reliance Communications (RCom) has signed non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RCom’s nationwide tower assets and related infrastructure by Brookfield. Under the Term Sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate SPV, to be owned by Brookfield. Shares of the company closed 2.57 per cent up at Rs 47.90.

J&K Bank: Shares of Jammu & Kashmir Bank continued to trade under pressure for the second day in a row after the bank told analysts that all exposure in J&K under the SMA-2 category. The lender also said its bottomline is going to be seriously hit in coming quarters.

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