India

Stocks To Watch: Infosys, Wipro, Mahanagar Gas, Mindtree

Stocks To Watch: Infosys, Wipro, Mahanagar Gas, Mindtree

On Wednesday, Sensex had closed 148.53 points or 0.25 per cent higher at 60,284.31.

New Delhi: The domestic stock markets opened at record highs on Thursday taking cues from the global markets. Asian stock markets rose, the US dollar eased and longer-dated bonds rallied as investors reckoned on inflation bringing forward rate hikes around the world. Trends on SGX Nifty also indicated a positive opening for the markets back home. The Nifty futures were trading at 18,256, 78 points, up 0.43 per cent, on the Singapore Stock Exchange.

On Wednesday, the benchmark BSE Sensex had closed 148.53 points or 0.25 per cent higher at 60,284.31 – marking its new closing high. The broader NSE Nifty had surged 46 points or 0.26 per cent to its fresh closing peak of 17,991.95.

Here Are Stocks To Watch During Today’s Session:

Infosys: The Indian IT major has raised its annual revenue outlook as demand rose for its software services from global businesses expanding their digital offerings during the Covid-19 pandemic. Infosys’s net profit in the second quarter of the current fiscal rose 11.88 per cent to Rs 5,421 crore, compared to Rs 4,845 crore in the corresponding quarter in the year-ago period.

Also Read: Infosys Says It’s Likely To Earn More This Year Than Earlier Expected

Wipro: The IT company posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. Wipro had posted a net profit of Rs 2,484.4 crore in the same period a year ago.

Mahanagar Gas: The natural gas distribution company has hiked the retail price of compressed natural gas (CNG) and piped natural gas (PNG) with effect from Wednesday midnight. “MGL announces the revised prices of CNG as Rs 57.54/Kg and PNG Rs 33.93/SCM (Standard Cubic Meter) in and around Mumbai w.e.f. midnight of October 13, 2021,” Mahanagar Gas Ltd stated.

Also Read: Mahanagar Gas Hikes Piped Cooking Gas, CNG Prices. Check New Rates

Mindtree: The IT firm posted a 57.2 per cent increase in its net profit to Rs 398.9 crore in the September quarter. Mindtree had posted a net profit of Rs 253.7 crore in the corresponding quarter a year ago.

Tata Group stocks

Tata Group stocks will continue to remain in focus for multiple factors. TPG Rise Climate and Abu Dhabi’s ADQ’s Rs 7,500 crore investment push in Tata Motors’ new subsidiary, EVCo, Jaguar Land Rover order books at record level and Air India deal are some of the positives.

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