From Wipro reporting decline in Q2 profit year-on-year, Godrej Properties buying land in Bengaluru to J&J pausing Covid vaccine, Business Standard brings you top news of the evening
The company had posted a profit of Rs 2,552.7 crore in the year-ago period
All that happened in the markets today
Key focus areas include commentary on verticals such as healthcare and retail and an update from the new management on the company's growth strategy.
Going ahead, a good order book, a strong deal pipeline and the company's continued focus on cost optimisation are expected to help
India's most valuable stock Reliance Industries rose about 1.1% ahead of an annual general meeting due later in the day
On a sequential basis, revenue declined 5 per cent.
In its result announcement on Tuesday, Wipro said some of its verticals have started witnessing green shoots.
It will be the first quarterly result announcement by the company under its new CEO, Thierry Delaporte, who took charge of the firm earlier this month.
All that happened in the markets today
Wipro on Wednesday posted a 6.3 per cent year-on-year (YoY) decline in its net profit at Rs 2,326.1 crore for the quarter ended March 31, 2020
Revenue from operations stood at Rs 15,711 crore, up 4.69 per cent against Rs 15,006.3 crore in the corresponding quarter of the previous fiscal.
All that happened in the markets today
Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company's revenue growth to come in at the lower end of the guided range of 0-2 per cent
TCS will hold its board meet the next day (April 16) for approval of its financial statements
Markets regulator Sebi has also given relaxation of 45 days to companies for filing fourth-quarter results and one-month extension to file results for 2019-20
Discretionary spend by the clients take a hit during slowdowns or uncertain business environment, as such spends are largely under the discretion of the clients
Posts better-than-expected numbers, raises revenue guidance for 3rd quarter
The IT services company has seen some improvement in its revenue growth in the last few quarters but, as per analysts, it continues to lag peers on a relative basis.
Tax cut helps, but India Inc's revenue growth falters