Jio’s Q3 results may have disappointed, but home broadband is thriving
Reliance Jio’s Q3FY25 earnings missed expectations due to muted user additions, modest ARPU growth, and higher costs. However, Jio’s home broadband business showed strong growth, particularly with its 5G-based FWA services. Enterprise services also saw significant growth in government contracts.
Infosys slips 6% post Q3 results, drags down Nifty IT index
Infosys shares fell nearly 6% due to a muted outlook for the fourth quarter and cautious sentiment regarding Donald Trump’s expected policies. The stock closed at ₹1,817.50, down 5.8%. The Nifty IT Index fell 2.7%. Midcap IT companies are trading at higher valuations than large-cap players. IT stocks may face uncertainty from a global slowdown.
Wipro Q3 net surges 24.5% on consulting boost, lower costs
However, revenue remained subdued due to furloughs and seasonal weakness meeting its guidance, rising marginally by 0.1% YoY to Rs 22,318 crore from Rs 22,205 crore in December quarter 2023-24.
Land sale gain lifts Tech Mahindra net profit 92% higher
Profit was driven by a one-time land sale gain, rupee depreciation and improved rate of deal wins in its key verticals of banking, financial services & insurance (BFSI) and hi-tech & media.
Global shares rise with dollar, US bond yields turn higher
Global equities rose, U.S. Treasury yields turned higher, and the dollar strengthened as positive economic data and strong earnings boosted investor confidence. Manufacturing output and single-family homebuilding increased. Wall Street’s major indexes saw substantial gains. The Fed’s data and optimistic housing and industrial production reports indicated potential slowed rate cuts. Oil and gold markets showed […]