Infosys, Wipro, JSPL in Focus Today

Infosys & Wipro are likely to be under pressure today as ADRs (American Depository Receipts) of these companies fell 2.48 per cent and 3.65 per cent respectively on the back of 2014 revenue guidance cut by Cognizant to 14 per cent from 16.5 per cent earlier. Bharti Airtel will sell up to 45 million shares of its unit Bharti Infratel today at a floor price of Rs 205 per share. Bharti Airtel is planning to raise Rs 1,125 crore at this floor price. Jindal Steel & Power reported better than estimated first quarter numbers yesterday. The company reported a consolidated net profit of Rs 418 crore on revenue of Rs 4,870 crore as against estimates (NDTV poll) of Rs 382 crore net profit on revenue of Rs 5,067 crore. Aurobindo Pharma will report its June quarter numbers today. Its net profit is likely to increase 132 per cent year-on-year (y-o-y) to Rs 362 crore and its revenue is expected to jump 55 per cent to Rs 2,647 crore. Jubilant Foodworks will report its first quarter numbers today. Its net profit is likely to remain flat at Rs 34 crore whereas its sales are seen growing 22 per cent y-o-y to Rs 484 crore. Same store sales of the company are expected to grow 2 per cent sequentially after two consecutive quarters of decline. The India Cements will report its Q1 numbers today. As per Motilal Oswal's estimates the company is likely to report net loss of Rs 4.6 crore as against Rs 48 crore loss sequentially and its sales seen at Rs 1,262 crore against Rs 1,080 crore last quarter. GMR Infra is reportedly planning to sell its aircraft maintenance facility post completion of buy out of its partner's stake in it. HCL Technologies has bagged a $250 million deal from a French telecom company Alcatel-Lucent. Under this deal HCL will provide complete R&D work to Alcatel-Lucent in technologies such as 2G and 3G. Bata India is planning to merge two of its subsidiaries- Bata Properties and Coastal Commercial & Exim with company. Tata Global Beverages: UBS maintains buy on the stock with a target price of Rs 180 per share on the back of healthy growth in tea and water business. International business of the company also performed well in parts, added UBS.

Infosys, Wipro, JSPL in Focus Today

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