SD Solutions

L&T will witness pressure on profitability both in core and non-core businesses such as IT and financial services   Highlights -  June quarter severely impacted by Covid-19 - Stress could continue in September quarter, albeit at a slower pace - Strong balance sheet and order book to support in the interim - Expect flat or marginal growth this year - Valuation offers little margins of safety If Larsen & Toubro’s  (CMP: Rs 916, Mcap: Rs 1,28,654 crore)  June quarter results are any indication, it is clear that the stress in the engineering and construction space is much more than what the Street had initially expected. The pain because of the nationwide lockdown and the subsequent slowing of industrial activity was acute during the reporting quarter. It is likely to continue in the second quarter of the current financial year as well, albeit to a lesser degree. “With the partial lifting of the lockdown and the graded resumption of business operation...

SD Shibulal along with NR Narayana Murthy and five others had founded Infosys in 1981. Click Here and open free trading and demat a/c and get beginners stock market course for free. limited time offer Family members of Infosys co-founder SD Shibulal have sold 85 lakh shares of the company between July 22-24, according to regulatory filings. Shibulal's son Shreyas sold 40 lakh shares, "representing 0.09 per cent of Infosys Ltd by way of sale on the platform of the stock exchange on July 22, 23 and 24, 2020", an exchange filing by the company showed. He previously held 0.66 per cent shares in Infosys and post the transaction, his holding has come down to 0.56 per cent, it added. Gaurav Manchanda, son-in-law of the Infosys co-founder, sold 18 lakh shares (0.04 per cent), while 15 lakh shares (0.03 per cent) held by grandson Milan Shibulal Manchanda were offloaded on the same dates, additional filings by the IT Company showed. Gaurav's shareholding now stands at 0.3...

Consolidated revenue from operations saw an 18.7 percent YoY jump to Rs 2,949.20 crore; sequentially, it was down 2.1 percent.   Moneycontrol News   @moneycontrolcom        Larsen & Toubro Infotech (LTI) share price jumped 4.36 percent to close at Rs 2,291.25 on BSE on July 16. The company had a day earlier reported a 17.1 percent year-on-year (YoY) jump in consolidated net profit for the quarter ended June 30, 2020, at Rs 416.4 crore. On a quarter-on-quarter (QoQ) basis, profit was down 2.6 percent. Consolidated revenue from operations saw an 18.7 percent YoY jump to Rs 2,949.20 crore; sequentially, it was down 2.1 percent. In dollar terms, constant currency (CC) revenue decreased 4.7 percent QoQ but grew 10.6 percent YoY. The company's basic earnings per share stood at Rs 23.92 against Rs 20.51 YoY. "In a quarter marked by a challenging environment, we have delivered revenue growth of 10.6 percent YoY in constant currency and...

Date – 15/07/2020 Infosys expects its constant currency revenue growth in the range of 0-2 percent for FY21. Deal wins for the June quarter stood at $1.7 billion against $1.65 billion in the previous quarter.   IT services company  Infosys  on July 15 reported a 2 percent decline in June quarter profit at Rs 4,233 crore, ahead of a CNBC-TV18 analysts' poll that had pegged the number at Rs 3,950 crore, on strong operating performance, as the company surprised the street by giving full-year constant currency revenue growth guidance. Revenue from operations increased 1.7 percent sequentially to Rs 23,665 crore in the June quarter and dollar revenue fell 2.4 percent quarter-on-quarter to $3,121 million for the quarter (against CNBC-TV18 analysts' estimates of Rs 23,000 crore and $3,038 million, respectively). Constant currency revenue for the quarter fell 2 percent on a sequential basis, which was much better than street estimates of 5 percent decline QoQ. ...

Wipro has also signed an agreement to acquire Brazil-based IVIA Servicos de lnformatica Ltda. IT services firm  Wipro 's June quarter consolidated profit grew by 2.8 percent sequentially to Rs 2,390.4 crore, supported by other income (up 10 percent QoQ) and good operating performance. Consolidated revenue from operations declined 5.3 percent quarter-on-quarter to Rs 14,922.8 crore. Investors generally track Wipro's IT services, which reported a 4.6 percent sequential decline in revenue at Rs 14,595.6 crore due to lockdown in several countries following COVID-19 crisis but showed good growth in operating income. IT services' earnings before interest and tax (EBIT) grew by 3.3 percent to Rs 2,782.2 crore and margin rose 146 bps QoQ to 19.06 percent during the April-June period. Read Full article -  Click Here