Top headlines: Analysts predict Infosys Q1 results, Zomato allots shares

News about Zomato's share allotment and what analysts are saying about Infosys's Q1 results later today.

Analysts expect strong deal momentum to drive Infosys' performance in the June 2021 quarter; Zomato allots shares worth Rs 4,195 crore to anchor investors ahead of the company’s IPO. Top news at this hour.

Zomato allots shares worth Rs 4,195 cr

Online food delivery company Zomato on Tuesday allotted shares worth Rs 4,195 crore to anchor investors. The firm allotted a total of 552.17 million shares to close to 200 foreign as well as domestic investors at Rs 76 apiece. Some of the investors that received anchor allotment include New World Fund, Tiger Global, and BlackRock. 

Infosys to announce Q1 results 

Analysts expect strong deal momentum, seasonality factor and traction in cloud to drive Infosys' performance in the June 2021 quarter of financial year 2021-22 (Q1FY22). They peg bottomline growth at 27-30 per cent and topline (in rupee terms) at 16-17 per cent, yearly.

SAT questions Sebi's intervention

The Securities Appellate Tribunal (SAT) in a hearing on Tuesday said market watchdog Securities and Exchange Board of India (Sebi) tried to pre-empt the outcome of PNB Housing Finance’s extraordinary general meeting (EGM) that was called to decide on the allotment of preferential shares to the Carlyle Group and other investors.

India inspects Carlsberg accounts

India’s government is inspecting the account books of the local unit of Carlsberg A/S, according to people with knowledge of the matter, following allegations of potential fraud. The Registrar of Companies has issued a notice to Carlsberg India seeking its response

Country needs forex reserves buffer: Raghuram Rajan

India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan on Tuesday.