Infosys In Q4FY23, the company reported poor earnings. The company’s dollar revenue decreased 2.25 percent to $4,554 million, and its net income decreased 6.9 percent to Rs 6,128,000. FY24 guidance Of 4-7% Revenue Growth for CC.
Post-earnings, there are also multiple downgrades on Infosys. Nomura has downgraded the shares to a neutral rating and reduced the price target per share from Rs 1,660 to Rs 1,290.
JPMorgan has downgraded the shares to underweight and lowered the price target from Rs 1,500 per share to Rs 1,200. The rating was also lowered from buy to outperform, and the price target was reduced from Rs 1,800 to Rs 1,550 per share.
HDFC Bank The largest private lender in India, HDFC Bank, reported quarterly results in accordance with projections. Strong year-over-year NII growth of 23.7 percent to Rs 23,351 crore. Profit increased by 20% to Rs 12,048 billion. Strong growth in retail loans, up 29.8 percent annually and 9.75 percent sequentially.
TV18 Viacom18 announced the fulfillment of a strategic partnership with Bodhi Tree and Paramount Global. Currently, Viacom 18 owns the JioCinema OTT service. The transaction is worth 32,920 billion rupees
Tech Mahindra | Investment bank Citi has downgraded Tech Mahindra to’sell’ and reduced the target multiple from 17x to 15x. The price target has been reduced from Rs 1,100 to Rs 955.
CNBC-TV18 Sources tell that Oppenheimer will sell a 5.65 percent stake in Zee Entertainment through block transactions. The price range for Oppenheimer’s transfer of its stake in Zee is between Rs 199.80 and Rs 208.15 per share. The offer size for the transfer of Oppenheimer’s stake in Zee Entertainment is Rs 1,130 billion.