Wipro, HCL Tech, ITC, NTPC, APSEZ in focus

Wipro: The IT major's consolidated net profit rose 3.72% to Rs 2,659 crore on 4.7% increase in revenue form operations to Rs 22,539.7 crore in Q2 FY23 over Q1 FY23. On a year on year (YoY) basis, the IT firm's net profit declined 9.27% while revenue jumped 14.6% in Q2 FY23.

For the quarter ending 31 December 2022, Wipro expects revenue from its IT Services business to be in the range of $2,811 million to $2,853 million. This translates to a sequential growth of 0.5% to 2%.

HCL Technologies: HCL Technologies reported 6.27% rise in consolidated net profit to Rs 3,489 crore on a 5.2% rise in revenue to Rs 24,686 crore in Q2 FY23 over Q1 FY23. Compared with Q2 last year, net income rose 7.09% while topline jumped 19.5% in the second quarter.

For FY23, the company increased revenue guidance to 13.5%-14.5% YoY in constant currency. Services revenue is expected to grow 16%-17% YoY in constant currency. EBIT margin guidance is revised to 18%-19%.

ITC: The FMCG major said its subsidiary ITC Infotech India has incorporated a wholly owned subsidiary in Brazil under the name of ITC Infotech Do Brasil LTDA on 10th October 2022.

NTPC, Siemens: NTPC and Siemens signed a Memorandum of Understanding (MoU) to demonstrate the feasibility for hydrogen co-firing blended with natural gas in Siemens V94.2 gas turbines installed at NTPC Faridabad gas power plant. The total installed capacity of Faridabad gas power plant is 432 megawatt (MW) with two V94.2 gas turbines operating in combined cycle mode.

Tata Motors, Tata Power: Tata Motors and Tata Power have entered into a Power Purchase Agreement (PPA) for a 7 MW captive solar power project at its Pantnagar plant in Uttarakhand. Collectively, this installation is expected to generate 215 million units of electricity, potentially mitigating over 1.7 lakh tonnes of carbon emissions.

Adani Ports and Special Economic Zone (APSEZ): The company has received Letter of Award from West Bengal Industrial Development Corporation Ltd, Kolkata for development of deep-sea port at Tajpur, West Bengal on Design, Build, Finance, Operate and Transfer basis.

Maharashtra Seamless: The meeting of the board of directors of the company is scheduled on 17 October 2022 to consider and approve issue of bonus shares and sub-division of equity shares.

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