New Delhi: The domestic stock markets are likely to trade cautiously on Wednesday, taking cues from the global markets. Asian stocks plunged as Japan’s Nikkei fell 0.43 per cent, South Korea’s KOSPI was down 1.13 per cent and Shanghai Composite index traded 0.10 per cent lower. Trends on SGX Nifty also indicated a flat opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures inched 0.19 per cent or 34.05 points higher to 17,957.
The benchmark BSE Sensex had closed 109.40 points or 0.18 per cent lower at 60,029.06; the broader NSE Nifty had declined 40.70 points or 0.23 per cent to settle at 17,888.95.
Bharti Airtel: The telecom company has reported a profit of Rs 1,134 crore in the second quarter of current financial year 2021-22 (Q2 FY22) against Rs 283.5 crore posted in Q1 FY22. Airtel’s revenue jumped to Rs 28,326.4 crore from Rs 26,853.6 crore on a yearly basis.
Wipro: The IT company has partnered with TEOCO to develop solutions that help communication service providers (CSPs) improve network automation, flexibility, efficiency, and reliability. Wipro and TEOCO will provide CSPs with comprehensive solutions to plan, analyze, optimize, and monitor next-generation networks, the company has said.
Infosys: Infosys Finacle has announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for financial services. “It will help banks achieve seamless ecosystem connectivity and provide a world-class banking experience,” Infosys has said.
Sterling and Wilson Solar Ltd: The company said it has got shareholders’ approval to issue equity shares on a preferential basis to Reliance New Energy Solar Ltd (RNESL).
Spicejet: Crisil Ratings has withdrawn its ‘Crisil D’ credit rating for SpiceJet Ltd stating that “the airline has not provided it with adequate information to carry out a rating review.”
In response to Crisil’s move, the budget carrier said, SpiceJet “has already obtained revised credit ratings from Acute Ratings and Research Limited for its loans/debt instruments in August 2021 which were upgraded from previous ‘D’ rating assigned to the company last year. The present ratings for bank loan/debt instruments are as under: Long Term Instruments: BB- with stable outlook; Short Term Instruments: A4+.”
The airline added that it “had already advised the previous rating agency (i.e. Crisil) on July 13, 2020 about its intention to work with alternate rating agency to grade our investments, debt instruments and financing facility going forward. Accordingly, SpiceJet is not obliged to provide any further update about the company, as such to the previous rating agency.”
Meanwhile, State Bank of India, Eicher Motors, GSPL, Aditya Birla Fashion and Retail and Bata India will announce their respective September quarter numbers during the day.