HomeMarket InsiderStocks To Watch: Wipro, Infosys, Adani Green, Ashok Leyland, Biocon, Bajaj Electricals,...

Stocks To Watch: Wipro, Infosys, Adani Green, Ashok Leyland, Biocon, Bajaj Electricals, NMDC, IPCA Labs

During trading on Wednesday morning, the SGX Nifty saw a loss of 0.36%, which was an indication that the domestic indexes NSE Nifty 50 and BSE Sensex would begin with a negative base. On the Singaporean market, Nifty futures were trading 36 points lower than normal at 18,295. Both the NSE Nifty 50 and the BSE Sensex were able to hold onto some of their gains but ultimately finished virtually even. The Nifty 50 finished the day up 33 points, or 0.18%, at 18,348 while the Sensex finished up 0.03% at 61,981.79.

Ashok Leyland 

Profit for Ashok Leyland in the fourth quarter of fiscal year 23 increased by a factor of 436.6%, reaching Rs 752.53 crore as compared to Rs 140.24 crore in the same period of the previous fiscal year. This result exceeded analysts’ expectations. In addition, for the fiscal year that concluded on March 31, 2023, it was proposed that a dividend of Rs 2.60 be paid out on each equity share worth Rs 1.

Infosys

Infosys has announced the debut of Topaz, an AI-first collection of services, solutions, and platforms that make use of generative artificial intelligence technology. The company has said that the “responsible by design’ approach provides uncompromising ethics, trust, privacy, and security, as well as compliance.

Bajaj Electricals

Bajaj Electricals said that their earnings for the fourth quarter were Rs 51.85 crore, representing a 31.8% year-over-year increase from Rs 39.35 crore. It reported income from operations of Rs 1490.11 crore, which is 11.7% more than the revenue of Rs 1334.32 crore it reported in the fourth quarter of FY22.

Adani Green Energy

On May 24, the board of directors for Adani Green Energy was going to meet to discuss the possibility of obtaining cash. As a result of the directors’ inability to attend, we have decided to call off the meeting. It has not yet been decided when the next meeting will take place.

Biocon

The profit for the fourth quarter for Biocon came in at Rs 335 crore, representing a year-over-year increase of 28%. In comparison to the fiscal fourth quarter of FY22, it reported revenue of Rs 3,929 crore, which is an increase of 59%.

NMDC

NMDC’s earnings during the fourth quarter of fiscal year 23 increased by 22 percent to 2,277 crore, as compared to 1,862 crore for the same period in the previous fiscal year. In addition to this, the board of directors suggested a dividend payment of Rs. 2.85 per share.

IPCA Laboratories

IPCA Labs was able to raise its investment in Lyka Labs by 4.78%, bringing its total shareholding to 1,20,24,293 equity shares. This represents 36.34% of Lyka Labs’ paid-up equity share capital. Injectables, lyophilized injectables, and topical formulations are all products that are manufactured and marketed by Lyka Labs.

Wipro

Wipro has extended its relationship with Google Cloud in order to provide its customers all over the world with access to the company’s cutting-edge capabilities in the field of artificial intelligence (AI). Wipro is going to combine the whole spectrum of generative artificial intelligence products and services offered by Google Cloud with its own intellectual property (IP), business accelerators, and pre-built industry solutions.

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