- April 18, 2022
- Posted by: Bastion team
- Category: World News
Top gainers and losers
On the BSE Sensex pack, 24 out of top 30 shares were flashing in red, barring NTPC, Tata Steel, HUL, Nestle India, Mahindra & Mahindra, and Maruti Suzuki India.
IT heavyweight Infosys was the worst performer with a 7% loss, followed by Tech Mahindra (-5.29%), Housing Development Finance Corporation (-3.90%), HDFC Bank (-3.78%), Wipro (-3.56%), among others.
Infosys shares dropped 7.5% to ₹1,617 apiece on the BSE after the country’s second-largest software exporter posted lower-than-expected earnings in the fourth quarter ended March 31, 2022. The consolidated net profit rose 12% year-on-year to ₹5,686 crore in the January-March quarter of the financial year 2021-22 while its revenue grew 22.7% YoY to ₹32,276 crore in Q4 FY22. Going ahead, the company expects revenue to grow by 13%-15% in constant currency for FY23.
Investors continued to book profit in HDFC group shares after the unveiled merger plans. Shares of mortgage lender HDFC fell nearly 7% in the past one week, while private lender HDFC Bank dropped nearly 4% during the same period.
HDFC Bank, the country’s largest private sector lender by assets, on Saturday reported 22.82% year-on-year (YoY) growth in its net profit at ₹10,055.2 crore for the fourth quarter ended March 31, 2021. The net revenues (net interest income plus others income) increased 7.3% YoY to ₹26,509.8 crore in Q4 FY22. For the full financial year ended March 2022, net profit grew 18.8% YoY to ₹36,961.3…