Canara Bank goes on equity capital raising plan

Shares of Canara Bank rose 0.9% to Rs 377.90 on BSE in the morning hours after it has announced that the bank approved raising additional equity share capital.

The state-owned Canara Bank has announced that it has approved raising additional equity share capital of Rs 90 crore QIP route, by issuing up to 9.00 crore equity shares of face value Rs. 10.00 each.

The net profit Canara Bank's fell 27.1% to Rs 260.18 crore on 1.6% fall in total income to Rs 11,994.64 crore in Q2 Sep 2017 Y-o-Y.

The Govt of India held 66.3 percent stake in Canara Bank according to the shareholding pattern as at 30 Sept 2017.

L&T bags orders worth Rs.3355 CR.

Larsen & Toubro Limited (L&T) on Tuesday announced that its buildings and factories buz of L&T construction has obtained orders valued Rs 3,355 crore.

The orders comprise design & construction of India Int. Convention & Expo Centre (IICC) in the national capital.

The business also bagged a contract to construct a major retail development in Navi Mumbai for IKEA. The construction for the proposed expansion will commence in early 2018, the company said.

Shares of the L&T were trading at Rs 1,265.45 apiece, down 0.09%, from the previous close on BSE.

Infosys share price hits over 1-year high; on joining HPE-Cloud28+community's vast network

Shares of IT major Infosys Limited rose 2.23% to Rs 1,044.80 on Friday, its highest since October 20, 2016. The stock broke above a resistance at Rs 1,020, the 38.2% Fibonacci retracement level of the downtrend from June 3, 2016, high of Rs 1,279.3 to August 22, 2017 low of Rs 860.

Infosys has joined Hewlett Packard Enterprise (HPE)-driven Cloud28 plus community & digital platform. By leveraging the Cloud28+community's vast network of service providers, Skava (the wholly-owned subsidiary of Infosys) aims to expand its market presence in countries where business and regulatory considerations call for private & hybrid cloud deployments working with local partners.

Some analysts have turned bullish on the stock in the last one month, with ‘strong buy’ recommendations rising by two to 11 and ‘buy’ ratings by one to 11. The stock has 17 ‘hold’ recommendations, seven ‘sell’ and one ‘strong sell’.

Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.