After a poor showing against TCS in Q1, most analysts on the Street expect Infosys (results on 15th October) to be a top performer among Tier-1 IT stocks this quarter
Net sales (INR): Rs66.1 billion-Rs68.4 billion
Net sales ($): $1.44 billion-$1.48 billion
Net profit: Rs16.8 billion-Rs17.6 billion
Rs bn Jun-10 Sep-09
Net sales 61.98 55.85
Net sales ($bn) 1.36 1.15
Net profit 14.88 15.40
Ready Reckoner for guidance:
Q2 sales: Rs65.63 billion-Rs66.26 billion or $1.41 billion-$1.43 billion
FY11 sales: Rs264.4 billion-Rs268.8 billion or $5.72 billion-$5.81 billion
FY11 EPS: Rs112.2-Rs116.7 or $2.42-$2.52
Infosys has not yet disclosed its September shareholding pattern - surprisingly tardy for the high corporate governance oriented company.
(This article is based on secondary research. The report is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife).
Singapore: Singapore Mercantile Exchange today said the Singapore branch of ICICI Bank Ltd has become its Special Clearing Member (SCM) for clearing and settling futures contracts at the bourse here, reports PTI.
As an SCM, ICICI Bank will clear and settle trades for its regional and international customers, including any other Non-Clearing Member (NCM), broker member and trade member of the Exchange.
"Becoming a Special Clearing Member for SMX is part of our strategy to scale up our operations in Singapore, following closely on the opening of our first retail branch here," ICICI Bank managing director Chanda Kochhar said.
"Singapore is the region's financial hub and the gateway to the Asia Pacific. We are happy to be building a relationship with Singapore's flagship commodities and derivatives exchange," she added.
New Delhi: Foreign investment in the Indian stock market crossed the magic Rs1 trillion mark ($22 billion) for the first time in history and analysts have predicted the overseas inflows will continue to increase in the coming months, reports PTI.
As per data available with market regulator Securities and Exchange Board of India (SEBI), foreign institutional investors (FIIs) have made net purchases of domestic equities worth Rs1,00,574.20 crore till date this year.
Going by the pace of foreign fund inflows, analysts are bullish about continuation of the trend in the near term, given that the country is one of the hottest destinations for investment by overseas fund houses.
FII investment of Rs1,00,574.20 crore so far this year is the maximum garnered by the domestic market in a single year.
Last year, FIIs were net purchasers of shares worth Rs83,423 crore. During the same year, the stock market benchmark Sensex had recorded a gain of over 80%.
FII inflows are primarily responsible for the surge in the domestic equity market. FIIs have been pumping funds into emerging markets like India on account of their strong growth prospects and fundamentally sound companies.
Indian bourses picked up significant momentum during the second quarter of current fiscal, driven by FII inflows. This helped the stock market breaking out of the tight range it was confined to in the previous three quarters.
Analysts believe the government's plans to disinvest in public sector companies, including state-run Coal India Ltd (CIL), will give more investment opportunities to FIIs.
"India is well on the path of reverting to its high-growth orbit in the current uncertain global environment.
Thus, India would continue to attract global fund inflows, driven by its resilient domestic economy," brokerage firm Angel Broking said in a note.
In its biggest one-day gain in five months, the stock market benchmark Sensex on Wednesday zoomed by a whopping 484 points to a 33-month high of 20,687 on record inflows from foreign funds and a firm overseas trend.
The Bombay Stock Exchange's 30-share barometer closed the day up by 484.54 points, or 2.4%, at 20,687.88 - its best close since 14January 2008, when the index had ended at 20,728.05.
The National Stock Exchange's 50-share Nifty index also spurted by 2.31% to close at 6,231.50.