Today’s top morning headlines - 16th August 2023

Markets are trading in the red as of 12:25 pm, with the NIFTY50 trading below the 19,400 level. Here are the top stories of the hour. Let us know what you think in the comments below!

Top gainer: Apollo Hospitals: 4,924 ▲ 103 (+2.1%)
Top loser: Tata Steel: 115 ▼ 2 (-1.9%)

:star: Infosys up on new deal win
Infosys has bagged a €1.5-billion ($1.6 billion) deal from Liberty Global to build and scale connectivity platforms for the digital communications firm. The deal is for a five-year period that can be extended up to eight years. If so, the deal will be valued at €2.3 billion ($2.5 billion). The IT major’s shares are up by 1.5%.

:star: Vodafone Idea posts mixed Q1 results
Vodafone Idea’s losses widened 7% year-on-year (YoY) to ₹7,840 crore in Q1FY24. Meanwhile, revenue increased 2% YoY to ₹10,655 crore. The company attributed the mixed results to competitive markets and the slower 5G rollout. The company’s shares are down by 1.8%.

:star: Pennar Industries soars on bagging new orders
Pennar Industries shares are up by 7.5% after the company bagged new orders collectively worth ₹702 crore, across various business verticals. Its clients include Tata Power, Toyota Kirloskar, Godrej Boyce, and Titagarh Rail, among others. The orders will be executed within the next two quarters.

:star: SBFC Finance sees strong listing
SBFC Finance shares made a robust debut on the exchanges today. The stock is listed at ₹82 on the National Stock Exchange (NSE), which is at a 44% premium against its issue price of ₹57 per share. The ₹1,025 crore IPO of the lender received a strong response from investors and was subscribed over 74 times.