HDFC Asset Management Company announced a final dividend of Rs 90 per share on Thursday along with its March quarter earnings where it reported an 18% year-on-year growth in its consolidated net profit at Rs 639 crore from Rs 541 crore in the same quarter of last year.
IDFC First Bank aims for a stable 20% growth, fueled by a recent capital raise of 7,500 crores, increasing their capital adequacy ratio to 19%. This infusion provides a buffer against global economic uncertainties and supports the bank's ambition to achieve a AAA rating.
Rahul Sharma of JM Financial Services advises booking profits on Nifty longs due to resistance levels and gap-up driven rally. He suggests focusing on banks and financials, particularly Cholamandalam Finance and Bank of Baroda. Adani Ports is also highlighted for potential upside. He recommends underweighting midcaps and smallcaps, favoring largecaps and sectors like domestic consumption.
Wipro faces revenue growth challenges, particularly in Europe, despite growth in America. The company focuses on large deals and cost optimization to maintain profitability amidst margin pressures. Strategic priorities include targeting key accounts, building AI-powered solutions, and upskilling talent. Wipro is committed to returning capital to shareholders while navigating uncertain market conditions.
