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Positive Start to the Day
Mon, 18 Apr 09:30 am

Major Asian stock markets have opened the day on a negative note. Stock markets in Japan and China are trading lower by 2.8% and 1.3% respectively. Benchmark indices in Europe and US ended their previous session in red. The rupee is trading at 66.42 per US$.

Indian stock markets have opened the day on a positive note. The BSE Sensex is trading higher by 58 points (up 0.2%) and NSE Nifty is trading higher by 14 points (up 0.2%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.1% and 0.2% respectively. Major sectoral indices have opened the day on a mixed note with stocks from information technology and telecommunication sectors witnessing buying interest. However, stock from banking sector are facing selling pressure.

Infosys reported its results for the quarter ended March 2016. The results were above the street expectations. The company posted a revenue growth of 13.3% YoY to US$ 2.4 billion during the quarter. On Quarter on Quarter (QoQ) basis revenues were up by 1.6%. Further, net profits witnessed a growth of 7% YoY and 1.7% QoQ . The operating margins too improved by 0.6% YoY to 25.5%.

The attrition rate too improved to 12.6% from 13.4% at the end of the December quarter. However, the big takeaway from the results was the solid guidance the management forecasted. The management expects its dollar revenue to expand between 11.8% and 13.8% in the year ended March 2017.

Further, the company added 89 clients during the quarter, taking the total number of customers to 1,092. Reportedly, company won large deals during the quarter. These deals are pegged at US$ 757 million, registering a 45% growth over the previous year. The stock is trading up by 7%.

In another news update, Maruti Suzuki tightened its grip in terms of its best-selling cars. The company's six models featured in the list of the top-10 selling cars in the fiscal year ended March 2016.

As per the data, the company's Alto, Dzire, Swift and WagonR were the first, second, third and fourth biggest selling models during the fiscal. Further, its compact model Celerio too made it to the list for the first time. The model stood at the 7th position. To add to this, the company's van Omni retained its ninth position.

Traction from newly launched models such as Vitara Breeza, Baleno, S-Cross will be the key trigger for the company moving forward.

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