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IT bellwether TCS reported better than expected numbers for the fourth quarter ended March as its profit rose 9% year-on-year to Rs 12,434 crore. Revenue from operations, meanwhile, jumped 3.5% year-on-year.
Axis Capital and Investec have downgraded InterGlobe Aviation. CLSA has retained a buy on PVR Inox.
The broker further added that BHL’s FY24-26/ FY24-30 EBITDA CAGR could be higher at 17%/15% due to its presence in high growth potential markets as Rajasthan/NE circle has a relatively lower teledensity and a relatively lower penetration of high ARPU post-paid and data subscribers.
Bharti Hexacom shares listed at a 32.5% premium on BSE and NSE, after attracting strong interest from non-institutional investors. The IPO was solely an offer for sale by TCIL, with the company operating in Rajasthan and the North East telecommunication circles.