Axis Bank Q3 profit rises 25 pct

Axis Bank Ltd posted a 25.3% rise in its Q3 net profit, helped by higher interest and fee income plus a drop in provisions for bad loans, although results fell slightly short of a consensus estimate.

Net profit rose to Rs 726.44 crore or USD 113.86 million, for the quarter ended Dec 31, 2017 from Rs 579.57 crore a year ago, the country's third-largest private sector lender by assets, announced on Monday.

Gross bad loans as a percentage of total loans stood at 5.28% at December end, vis-à-vis 5.90% in the previous quarter and 5.22% a year earlier.

Shares of Axis Bank today closed at Rs. 614 on the BSE, up 4.02% from previous its close, while benchmark Sensex index rose 0.81% to 35,798.10 points, while on NSE the share price closed at Rs 611.30 up by 3.57%

HCL Technologies Q3 Net profit marginally up at Rs 2,075 cr.

India’s fourth largest software major,  HCL Technologies Limited, has posted a Marginal increase of 0.59% in its consolidated net profit at Rs 2075 cr for the Q3 (quarter ended Dec 2017) with regard to the net profit of Rs 2,063 crore for the corresponding  quarter a year-ago.

Total Income for the quarter under review jumped by 8.40% to Rs 13,079 cr, during the quarter from Rs 12065 cr, in the year-ago period, HCL said in a filing with BSE.

The company has declared an interim dividend of Rs 2.00 per share for the FY 2017-18. The record date of Jan 30, 2018 fixed for the payment of the interim dividend and the payment date of interim dividend will be Feb 5.

Shares of HCL Technologies Limited were trading marginally up by 0.07 percent at Rs. 954.90 on NSE post lunch hours, while in BSE too the same was trading up at Rs. 956.75 up by 0.20 percent.

L&T Technology Services Wins $50 Million Avionics Contract

L&T Technology Services Limited, an established global pure-play Engg R&D services company, on Thursday announced that the company has won a pointer project worth USD 50 million spanning over 5-years from the global aerospace electronic systems manufacturer.

The project with L&T Technology Services will result in transformation of the customer's operations into a managed services model. The new deal also complements the impetus achieved by the company in the areas of electric vehicles, autonomous cars, infotainment and embedded devices to name a select few.

Shares of L&T Technology Services Ltd today opened at 1026.25 and was trading marginally down at 992 by 0.54% on NSE, post lunch hours, Thursday.