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    Corporate Radar: Infosys Q3 results, multibagger company to mull buyback and more

    Synopsis

    Noida-based IT major will declare its quarterly results today. Alongside, the company will also be announcing its fourth interim dividend. The company since the year 2000 has in total declared 83 dividends. And in the current FY, it has so far declared Rs 38 per share dividend. The consensus recommendation from 42 analysts for the stock is buy.

    Corporate Radar: Infosys Q3 results, multibagger company to mull buyback and moreGetty Images
    A host of board meetings and corporate actions are scheduled for Thursday.

    Abirami Financial Services
    The multibagger company from the finance investment space in the last 1-year has given a return to the tune of 238%. The company’s board meeting is set to take place today for considering share buyback. “Notice is hereby given that a meeting of the Board of Directors of the company is scheduled to be held on 12 January, 2023, inter alia, to consider and approve the proposal for buyback of fully paid up equity shares,” said the company filing.

    Indian Infotech and Software
    The company is another multibagger with a return to the tune of 905% in the last 3 years. The company’s board is scheduled today for mulling over a rights issue. “The Meeting of the Board of Directors of Indian Infotech and Software Limited is schedule to be held on Thursday, 12th January 2023, to inter-alia transacts the following matters: To approve the number of shares to be offered and allotted under right issue; to approve the Draft letter of offer for right issue; any other related matters with respect to the right issue; and any other matter with the permission of the chairman,” said the company’s filing.

    Den Networks
    This is an underperforming stock from the Cable and D2H space. The company will table its results today. In the September ended quarter, the company’s consolidated net profit grew 20.6% to Rs 47.51 crore despite a decline in net sales by 11.6% to Rs 287.3 crore in the Q2 period over the corresponding quarter of the previous year. The company’s consolidated profit before tax jumped 25.9% to Rs 48.57 crore in Q2 FY23 from Rs 38.57 crore in Q2 FY22. Shares of the company last traded at Rs 34.85 per share.

    Cyient
    The IT services and consulting company will be coming up with its quarterly results. Recently, the company’s subsidiary Cyient DLM has filed papers for Rs 740 crore IPO with market regulator Sebi. "Cyient Limited wishes to announce that Cyient DLM Limited, a subsidiary of our company, has filed its draft red herring prospectus dated January 9, 2023, with the Securities and Exchange Board of India ("SEBI") in relation to its proposed Initial Public Offering for listing on BSE and National Stock Exchange of India Limited," Cyient said in a regulatory filing. The stock of Cyient over a period of 3 years has given a return to the tune of 97%.

    HCL Tech
    Noida-based IT major will declare its quarterly results today. Alongside, the company will also be announcing its fourth interim dividend. The company since the year 2000 has in total declared 83 dividends. And in the current FY, it has so far declared Rs 38 per share dividend. The consensus recommendation from 42 analysts for the stock is buy.

    Infosys
    Infosys will declare its Q3 results today. The company in the previous September-ended quarter posted a 23.4% year-on-year (YoY) jump in consolidated revenue to Rs 36,538 crore. The net profit at the Bengaluru-based IT company rose 11% to Rs 6,021 crore.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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