Procurement News Notice |
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| PNN | 2503 |
| Work Detail | 11:55 am Infosys: IT services provider Infosys is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday. Infosys will be in a better position by October to evaluate the impact of this on its earnings outlook for the current fiscal year ending March 31, 2017, Chief Financial Officer Ranganath D Mavinakere said. "We want to give a more accurate picture on guidance after we execute Q2," he said, adding that he was confident growth in the second quarter would be better than the previous three months. 11:45 am Market outlook: The sharp rally in the market does cause jitters, given the state of expensive valuations, especially in the midcap space, but overall, markets are moving in the right direction, says Vikas Khemani, President and CEO of Edelweiss Securities. In an interview with CNBC-TV18, he said macroeconomic factors, earnings, bond markets, etc were are all improving and that structural reforms were on track. In the short term the market may look expensive and go through a time or value correction, but the overall direction seems to be positive, he said. 11:30 am Poll: Tata Motors is likely to see consolidated net profit at Rs 2856 crore in April-June quarter, up 3 percent from Rs 2769 crore in year-ago period. to CNBC-TV18 poll, the auto major may see revenue growth of 5.6 percent at Rs 64400 crore from Rs 61019.5 crore in corresponding quarter last fiscal. During the quarter, its EBITDA may slip 0.8 percent at Rs 9037 crore versus Rs 9109 crore while operating profit margin may stand at 14 percent against 14.9 percent year-on-year. On a standalone basis, its net profit may slip to Rs 143 crore in Q1 from Rs 257.5 crore while revenue is likely to be at Rs 10004 crore against Rs 9296.9 crore in year-ago period. In Q1 EBITDA may stand at Rs 513 crore against Rs 346.1 crore and operating profit margin may come in at 5.1 percent versus 3.7 percent (YoY). 11:20 am Interview: Even as Sequent Scientific is mainly focused on animal health active pharmaceutical ingredients, it is also looking to expand its human health business. In an interview to CNBC-TV18, Manish Gupta, CEO of the company, said the company is focusing on scaling up its capabilities across all segments over the last two years. The company has nine manufacturing facilities in India, Turkey, Spain and Brazil. Speaking about revenue growth and profitability, he said, "We expect to close the current year FY17 upwards of Rs 1,000 crore as revenues". 11:00 am Market Check Equity benchmarks continued to consolidate with the Nifty hovering around 8600 level as investors maintained caution ahead of speech by the Federal Reserve Chief Janet Yellen at Jackson Hole tonight. The important point to watch out for in speech would be the indication of further rate hike. The 30-share BSE Sensex was down 24.32 points at 27811.59 and the 50-share NSE Nifty fell 8.50 points to 8583.70. About 1187 shares declined against 992 advancing shares on the BSE. Biocon, Welspun India, Vakrangee, Reliance Capital, Tata Motors, SBI and Axis Bank were the most active shares on exchanges. Tata Motors, Cipla, M&M, Hero MotoCorp and NTPC are gainers while Adani Ports, Wipro, L&T, Asian Paints and ONGC are losers in the Sensex. |
| Country | India , Southern Asia |
| Industry | Information Technology |
| Entry Date | 03 Sep 2016 |
| Source | http://www.moneycontrol.com/news/local-markets/sensex-nifty-continue-to-consolidate-biocon-sbi-most-active_7348681.html |
