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%)
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%.
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%.
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.
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.