Stocks Under Focus: Infosys, BHEL, Anand Rathi Wealth, Bajaj Auto & More

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.