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After robust growth in FY24, corporate earnings momentum has slowed in the last two quarters, with BSE500’s weighted average PAT growth dropping to single digits in Q2. Saurabh Mukherjea noted that this marks the beginning of an earnings slowdown cycle, which is expected to persist for some time, signalling caution for broader corporate performance ahead.

Infosys is expected to report revenue growth between 4.8% and 6.7% YoY in Q3FY25, with net profit likely to rise 5.4% to 12%. Brokerages attribute the sequential revenue decline to furloughs and currency headwinds. Investors should watch for updates on cost projects, banking verticals, and demand revival in developed markets.

A total of 9,956 shares changed hands on the counter till 12:47PM (IST)

The stock traded at a P/E multiple of 46.87, while the price-to-book value ratio stood at 19.34.

As of 30-Sep-2024, promoters held 30.3 per cent stake in the company, while FIIs held 18.08 per cent and domestic institutional investors had 24.36 per cent.

Shanti Gold International has submitted draft papers to Sebi for an IPO to issue 1.8 crore new equity shares. Funds will be used for a new Jaipur facility, working capital, debt payment, and corporate purposes. The company, known for gold jewellery, reported increased revenue and profit in FY24. Choice Capital Advisors is the lead manager.

A total of 16,735 shares changed hands on the counter till 11:26AM (IST)

The Nifty IT index was trading 0.46 per cent at 43257.25.

B Prasanna from ICICI Bank discusses the recent depreciation of the Indian rupee due to global dollar strength, suggesting that allowing the rupee to depreciate, injecting liquidity, and considering a rate cut could support growth. He downplays concerns about macroeconomic impacts, citing low inflation and the potential for improved export competitiveness.