Tag: Wipro

  • Stocks To Watch: PB Fintech, Swiggy, Wipro, HUL, IndiGo, Vedanta, RVNL, And Others – News18

    Stocks To Watch: PB Fintech, Swiggy, Wipro, HUL, IndiGo, Vedanta, RVNL, And Others – News18

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    Stocks to watch: Shares of firms like PB Fintech, Swiggy, Wipro, HUL, IndiGo, Vedanta, RVNL, and others will be in focus on Wednesday’s trade

    Stocks to watch (Representational/ File Photo)

    Stocks to watch (Representational/ File Photo)

    Stocks To Watch On November 4: The markets continued their recovery for the third consecutive session, posting gains of over half a percent. Today, several stocks including PB Fintech, Swiggy, Reliance Power, Honasa Consumer, and Wipro will be in focus due to recent developments.

    PB Fintech: The company announced the formation of a wholly-owned subsidiary, PB Healthcare, which will offer healthcare and allied services.

    Bank stocks: On Tuesday, the Lok Sabha approved the Banking Laws (Amendment) Bill, 2024, tabled by Union Finance Minister Nirmala Sitharaman. The Bill proposes 19 amendments to banking laws, including changes to the Reserve Bank of India Act, Banking Regulation Act, and the Banking Companies (Acquisition and Transfer of Undertakings) Act.

    Hindustan Unilever (HUL): The company’s Vim brand, a leader in the dishwashing market, is expected to soon surpass Rs 3,000 crore in sales.

    Adani Energy Solutions (AESL): AESL has emerged as the preferred bidder for a Rs 25,000 crore transmission system project under Rajasthan Part-I Power Transmission. This would be AESL’s largest order win if formally awarded.

    Adani Group stocks: The group has significantly improved its net debt to EBITDA ratio and cash reserves over the past two years, despite a rise in gross debt, according to global financial services firm Bernstein. The ratio improved to 2.7 in September 2024 from 4.4 in March 2023, with notable improvements from Adani Green, Adani Transmission, and Adani Power.

    Meanwhile, the Andhra Pradesh government is reviewing its options regarding a 7,000 MW solar power project with the Adani Group, following bribery allegations involving Adani Green Energy Limited (AGEL) and former Chief Minister YS Jagan Mohan Reddy.

    Swiggy: The company reported a slight reduction in its consolidated net loss for Q2FY25, which narrowed to Rs 625.5 crore from Rs 657 crore in the previous year. However, the loss increased sequentially from Rs 611 crore in Q1FY25.

    DLF: The real estate company announced the appointment of Badal Bagri as its new Chief Financial Officer (CFO), effective December 6.

    Vedanta: CRISIL Ratings has upgraded the company’s long-term bank facilities and debt instruments, citing an improved capital structure, better financial flexibility, and strong volume growth as key reasons.

    GMR Airports: The Competition Commission of India (CCI) has approved a transaction between GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority, involving the subscription of unlisted optionally convertible debentures of GMR Infra Enterprises.

    Bank of Baroda (BoB): The public sector bank plans to raise an additional Rs 5,000 crore through infrastructure bonds, benefiting from current soft interest rate trends.

    Bank of India (BoI): Similarly, BoI intends to raise Rs 5,000 crore through infrastructure bonds, capitalizing on favorable interest rate conditions.

    Defence stocks: The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has approved five capital acquisition proposals worth over Rs 21,772 crore.

    InterGlobe Aviation (IndiGo): IndiGo has filed a case in the Delhi High Court against Mahindra Electric Automobile, alleging trademark infringement over the use of ‘6e’ in Mahindra’s upcoming electric car, the BE 6e, set to launch in February 2025.

    PNB Housing Finance: The company plans to launch loans against property (LAP) as a separate segment from April, according to its Managing Director & CEO Girish Kousgi.

    Reliance Power: Solar Energy Corporation of India (SECI) has withdrawn a debarment notice against Reliance Power, allowing the company to participate in future tenders of the public sector entity.

    Godrej Properties: The company has raised Rs 6,000 crore through a qualified institutional placement (QIP), marking the largest such fundraising by a real estate company in India.

    Honasa Consumer: Co-founder Varun Alagh has increased his stake in the company to 31.93% through a Rs 4.5 crore investment.

    RVNL: RVNL has received a letter of authorisation (LoA) from East Central Railway for a project valued at Rs 187 crore.

    Wipro: Wipro, an IT services company, has partnered with Netskope to provide cybersecurity optimisation advisory services.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

    News business » markets Stocks To Watch: PB Fintech, Swiggy, Wipro, HUL, IndiGo, Vedanta, RVNL, And Others

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  • Wipro Bonus Shares: IT Stock To Trade Ex-Bonus Today; Key Details – News18

    Wipro Bonus Shares: IT Stock To Trade Ex-Bonus Today; Key Details – News18

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    Wipro Ltd. will go ex-dividend for its bonus issue on Tuesday, with shares being distributed in a 1:1 ratio

    Wipro Bonus Shares

    Wipro Bonus Shares

    Wipro Bonus Shares: Wipro Ltd. will go ex-dividend for its bonus issue on Tuesday, with shares being distributed in a 1:1 ratio. Notably, this is Wipro’s first bonus issue since 2019. Over the past 15 years, the IT giant has declared at least three bonus issues, bringing the total to nine, according to data from corporate database AceEquity.

    Wipro’s previous bonus issue, in 2019, was declared in a 1:3 ratio, with the stock going ex-bonus on March 6, 2019. Before that, it issued bonus shares in the ratio of 1:1 in 2017, 2:3 in 2010, and 1:1 in both 2005 and 2004. In 1997, Wipro announced a 2:1 bonus issue and issued 1:1 bonus shares in 1995 and 1992. Additionally, last year, the company launched a share buyback plan.

    While Wipro is facing some client-specific challenges and a tough demand environment, there are signs of improvement in its BFSI (banking, financial services, and insurance) vertical. Analysts believe that the combination of a favorable portfolio, new CEO Srini Pallia, and attractive valuations offer a compelling risk-reward profile for the company.

    Wipro has guided for Q3FY25 revenue growth in constant currency terms of -2% to 1%, which remains relatively muted. However, analysts anticipate a gradual recovery in the second half of FY25, driven by the ramp-up of recently signed deals.

    In a note last week, Nuvama Institutional Equities maintained its earnings projections for Wipro but increased its target valuation to 25 times estimated FY27 EPS, up from 20 times, citing stronger growth recovery. The brokerage upgraded its rating on Wipro to “Buy” from “Hold,” raising the target price to Rs 700 from Rs 520.

    Nuvama noted that Wipro stands at a pivotal point, with a new CEO, fresh expectations, and renewed hopes. This time, however, there are two key differences: i) Wipro’s portfolio is now better positioned with higher exposure to discretionary spending, which is expected to benefit from macroeconomic recovery, and ii) the new CEO is an internal leader, aiming to drive growth alongside the existing leadership team, with the goal of achieving growth on par with its peers.

    How IT Stocks Moved During Past Bonus Issues

    For the 2010 bonus issue, Wipro’s stock went ex-dividend on June 15, 2010, with the record date set for June 16, 2010. On the ex-date, the stock traded at Rs 136.5, and it saw a slight increase to Rs 139.95 on the record date. However, a day after the record date, Wipro shares declined to Rs 138.35.

    In the 2017 bonus issue, the stock went ex-dividend on June 13, 2017, with the record date on June 14, 2017. On the ex-date, Wipro shares were priced at Rs 194.51, and they saw a small uptick to Rs 192.04 on the record date. A day after the record date, the stock slipped to Rs 195.6.

    For the 2019 bonus issue, Wipro’s stock traded ex-dividend on March 6, 2019, with the record date on June 7, 2017. On the ex-date, the stock stood at Rs 277.4, and it saw a modest increase to Rs 268.8 on the record date. The stock later dropped to Rs 256.5 a day after the record date.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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  • At a bunch of companies, white-collar jobs slip into the red – ETCFO

    At a bunch of companies, white-collar jobs slip into the red – ETCFO

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    India Inc isn’t hiring as much as it used to.

    The pace of growth in net white collar employment has almost halved in 2023-24 from five years back. An ET study of the Sensex companies-30 in total-showed such jobs grew 4.4% YoY in FY24 compared to 8.4% in FY19.

    This includes permanent jobs as well as those on long- and fixed-term contracts, and third-party rolls, data collated from the annual reports showed. HR analysts pointed to the stress in tech and consumer sectors as reasons for the slowdown while India Inc executives see the slower growth affecting consumption recovery.

    “The tech industry has been going through a rough patch for the past 12-15 months after the Covid period boom. Even the consumer sector has been a bit slow. All these are reflected in the employment generation trend,” said Shiv Agrawal, managing director at ABC Consultants, an executive search and talent advisory firm. He said the mix of permanent and contractual jobs in India Inc has not changed much in the last five years.

    Packaged food company Parle Products’ vice president Mayank Shah said job creation is the single most important factor for consumer demand generation. “There is a direct correlation and the stress in job creation in sectors like IT does have a bearing on consumption recovery,” he said.

    On a standalone company basis, the data showed net employment has fallen in six companies including Infosys, SBI, HCL Technologies, Tata Motors, Titan Company and Ultratech Cement in FY24 over FY23.

    In Infosys, the permanent employee count has fallen by almost 26,000 YoY to 317,240 in FY24. At HCL Technologies, Tata Motors and Ultratech Cement, permanent employee count went up in FY24 over the previous year, but overall employee count fell due to reduction in “other than permanent” jobs that are on contracts and third-party rolls.

    At a consolidated group level across businesses, Reliance Industries alone has seen a reduction of 42,000 in employee count in FY24 over the previous year led by the retail business where over 38,000 jobs were slashed. In FY24, it on-boarded over 171,000 new recruits across businesses, almost half of the about 90,000 people it had hired in FY23. Tata Consultancy Services and Wipro, too, saw a drop in total consolidated employee count by 13,249 and 23,257, respectively, in FY24 over FY23. Wipro is not on the Sensex list.

    To be sure, the latest government data has shown a fall in overall unemployment rate in India. The recently tabled economic survey for 2023-24 said net payroll additions under EPFO have more-than-doubled in the past five years, signalling healthy growth in formal employment.

    Britannia Industries MD Varun Berry told analysts earlier this month that rural growth in FMCG sales — which has been lagging urban for some time–is starting to come back due to better monsoons and moderate inflationary conditions and employment.

    • Published On Aug 17, 2024 at 09:02 AM IST

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