Future Market

Money Maker Research News – Infosys shares fell 6% after Vishal Sikka resigned

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infosys shares fell

The BSE benchmark Sensex loses about 230 points and shares of Infosys plunged over 7% after Vishal Sikka resigned as MD and CEO of Infosys.

Meantime, U B Pravin Rao, the present Chief Operating Officer, was appointed as the Interim-MD and Chief Operating Officer of Infosys limited.

The markets also registered intense selling pressure in recent gainers. The Sensex plunged by 207.75 points or 0.65% to 31,587.711 led by IT, teck, bank, healthcare, metal, auto and realty, tumbling up to 2.43%.

Four stocks turn ex-dividend

The stock of Jubilant Food Works, L&T Fin Holdings, InterGlobe Aviation and Kaveri Seed were trading in the negative terrain during the early morning trade on Friday subsequent on their announcement of the dividend.

Money Maker Research News – India Inc Record in highest sales growth in 5 quarters

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financial newsIndia Inc has reported a highest sales growth in year-on-year basis (y-o-y) in the June quarter even though there is pressure on profits and profitability. The trend is expected to keep on as the coming two quarters will project steady growth in business effective of the implementation of the GST, and expected higher demand in view of the festival season and a good monsoon.

A sample of 1024 companies reported the highest sales pick in five quarters of 5.6 percent y-o-y. Operating profit growth slowed to 3.5% percent after staying above 6 percent in the previous five quarters.

After counting O&G sector companies, the sample size grown to 1043 and sales pick augmented to 9.7%, whereas net profit pick was just 1.7 percent in the June quarter.

The other cost factor that has recorded an increase over the years is interest relative to EBIT (earnings Before Interest, Taxes, Depreciation & Amortization), whose ratio was at 26.5 percent, the highest since the June 2014 quarter.

Sectorally, capital goods companies, Automobile companies, Cement, Construction, Consumer goods and Textile sectors reported aggregate growth level in net profit, whereas realty sector, Pharma sector, Power, steel, Retail, Telecom sectors reported a fall in profit.