By Malvika Gurung
Investing.com -- Infosys (NS:INFY): The IT behemoth posted an 11.1% YoY rise in net profit at Rs 6,021 and a 23.4% YoY surge in revenue from operations at Rs 36,538 crore for Q2 FY23. Its board approved a share buyback of Rs 9,300 crore and an interim dividend of Rs 16.5/share.
HDFC Life Insurance (NS:HDFL): The regulator for the insurance sector IRDAI has approved the life insurer’s merger with Exide Life in the company. The former had acquired a 100% stake in Exide Life from Exide Industries (NS:EXID) in January for Rs 6,687 crore.
Bharat Heavy Electricals (NS:BHEL), Coal India (NS:COAL): The CPSE BHEL has entered into an agreement with Coal India and NLC India to set up coal gasification-based plants in India and develop indigenous technology for lignite gasification.
Anand Rathi Wealth (BO:ANAA) Ltd (NS:ANAA): Its net profit jumped 41% YoY to Rs 43 crore and consolidated revenue surged 33% YoY to Rs 138 crore, with AUM rising 16% YoY to Rs 35,842 crore in Q2 FY23.
Tata Steel (NS:TISC): Subsidiary Tata Steel Long Products (NS:TTST) has acquired 4,68,75,000 shares of Neelachal Ispat Nigam, totalling Rs 300 crore, now owning a 95.81% stake in it.
Mahanagar Telephone Nigam (NS:MTNL): The state-owned telco gets a shareholders' nod to raise up to Rs 17,571 crore through government-guaranteed debt bonds on a private placement basis, while the company’s board can now borrow up to Rs 35,000 crore.
Companies including Bajaj Auto (NS:BAJA), Shree Cement (NS:SHCM), Federal Bank (NS:FED), Tata Elxsi (NS:TTEX), Oberoi Realty (NS:OEBO) and GI Engineering Solutions (NS:GIEN), among others, will release their Q2 FY23 results on Friday.