News about a number of companies surfaced on Thursday after the market closed. We could observe how this news affects the bonus shares of these companies when the market opens on Friday.
News about a number of companies emerged on Thursday after the market closed. The effect of these news on the bonus shares of these companies may be seen when the market opens on Friday.
Infosys: The massive IT company Infosys has made public its third-quarter fiscal year 2024 financial results. In the recently concluded quarter, the company reported a profit of ₹6,106 crores, which was marginally less than the ₹6,212 crores reported in the preceding quarter (Q2). This translates into a 1.7% drop in earnings. In contrast to a poll conducted by CNBC TV18 that predicted a profit of ₹6,043 crores, Infosys outperformed predictions. During the quarter, the company’s revenue dropped from ₹38,994 crores to ₹38,821 crores. After declining by 0.026% to close at ₹1,520.30, Infosys’ bonus shares reached a 52-week high of ₹1,619.75.
Tata Consultancy Services (TCS), the biggest IT firm in India, has announced its results for the quarter ending in October through December. In addition to the financial outcomes, the business has announced a dividend to shareholders. Revenue for the October–December 2024 quarter was ₹60,583 crores, over ₹59,950 crores as projected by CNBC–TV18. The company’s profit for the quarter was ₹12,016 crores, exceeding the estimated ₹11,345 crores. At ₹3,726.70, TCS bonus shares closed Thursday’s trading up 0.37%.
Ultratech’s announcement regarding the acquisition of a 26% stake in Emplas Ages was made. The company will invest ₹49 crores in this acquisition. At ₹9,890, the company’s share price ended Thursday’s trading session down 1.16%.
Quess Corp: The business and Gujarat Technical University have an agreement in place for the creation of jobs and skill development. The stock of the company ended Thursday at ₹514.95, up 0.58%
Mahindra & Mahindra Limited (M&M): The maker of tractors and utility vehicles, according to stock exchange filings, published its business update for December 2023 on Thursday. December’s sales increased by 8.9% to 58,369 units, while production fell 2.1% year over year to 44,348 units. The company’s share price ended Thursday at ₹1,631.45, down 0.083% from where it started.
Tata Power: The Gujarati government and Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, have inked a Memorandum of Understanding (MoU). The agreement, which was signed at the Vibrant Gujarat Summit, intends to build a 10,000 megawatt renewable energy power project throughout the state at various locations. On Thursday, the company’s share price increased by 3.05%, ending the day at ₹357.00.
Bank of India: In its business update for the December quarter, the bank stated that total loans had increased by 11.5% year over year to ₹5.66 lakh crores, while deposits had increased by 8.7% to ₹7.10 lakh crores. At ₹120.85, the bank’s share closed Thursday’s trading up 2.24%.
[…] The frontline index, the S&P BSE Sensex, opened higher at the pre-opening bell, gaining 1,260.43 points, or 1.76 percent. The index increased 479.80 points, or 0.66 percent, from its previous closing at 73,048.25 by 9:15 a.m. (mas financial services ltd) […]