Infosys, GAIL (India), Cochin Shipyard to be watched

Infosys reported a 2% fall in consolidated net profit to Rs 4,233 crore on a 1.7% rise in revenues to Rs 23,665 crore in Q1 June 2020 over Q4 March 2020. Consolidated profit before tax (PBT) rose 5.4% to Rs 5792 crore.

Infosys forecast FY21 revenue growth in the range of 0%-2% in constant currency terms. Operating margin for FY21 is expected to be in the range of 21%-23%.

Shares of GAIL (India) will be watched after the company received letter from Department of Telecommunication towards withdrawal of all provisional demand notices issued to it. Consequent upon the withdrawal of claims, nothing remains due to DoT by GAIL in the matter of AGR.

Cochin Shipyard signed contracts for construction and supply of two nos Autonomous Electric Ferry for ASKO Maritime AS, Norway with an option to build two more identical vessels.

Minda Corporation reported consolidated net loss of Rs 299.77 crore in Q4 March 2020, as compared to net profit of Rs 41.92 crore in Q4 March 2019. Total income dropped 9.22% to Rs 712.19 crore.

Gateway Distriparks said that the meeting of the board of directors of the company is scheduled on 20 July 2020 to consider and approve proposed issue of equity shares of the company on a rights basis.

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