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<keyword id="2027448" type="General" weightage="20" keywordseo="kpit-technologies-ltd" source="Orion">KPIT Technologies Ltd</keyword> on Wednesday said it will acquire <keyword id="7811894" type="General" weightage="20" keywordseo="future-mobility-solutions" source="Orion">Future Mobility Solutions</keyword> GmbH (FMS) for up to 15.6 million euros (about ₹135 crore). "... the <keyword id="136326" type="General" weightage="20" keywordseo="board-of-directors" source="Orion">Board of Directors</keyword> of the company, at its meeting, has approved the acquisition of initial 25 per cent shareholding in FMS. Over a period of three years, KPIT will acquire the balance shareholding," <keyword id="1911625" type="General" weightage="80" keywordseo="kpit-technologies" source="Orion">KPIT Technologies</keyword> said in a regulatory filing. The first tranche of 25 per cent will be completed in September 2021, and 100 per cent acquisition is expected by the last quarter of FY 23-24, it added. "The total consideration for 100 per cent shareholding will not exceed 15.6 million euros," it said. FMS is engaged in software and feature development in autonomous driving, ADAS (Advanced Driver Assistance Systems) and vehicle safety, and integration and validation. Established in September 2016, FMS' turnover stood at 4.30 million euros in calendar year 2020. The <keyword id="12156425" type="General" weightage="20" keywordseo="Gaimersheim" source="Orion">Gaimersheim</keyword>, Germany-headquartered company has over 50 employees, and has an office in Frankfurt. Its turnover is expected to be 5.4 million euros in calendar year 2021, the filing said. "FMS will add certain unique proprietary offerings in the autonomous driving domain. The partnership will improve KPIT access to one strategic client with new offerings and strengthen KPIT market presence in Germany," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indices-move-higher-on-positive-global-cues-bajaj-finserv-coal-india-tata-motors-lead-the-gains/articleshow/86448105.cms">Indices move higher on positive global cues; Bajaj Finserv, Coal India, Tata Motors lead the gains</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/oyo-may-file-for-1-billion-ipo-next-week/articleshow/86448073.cms">OYO may file for $1 billion IPO next week</a>

KPIT Technologies to acquire Future Mobility Solutions for ₹135 crore

Tata Teleservices, Adani Green, TVS Motor and more — stocks that are bucking the weak market trend

Trident, Adani Enterprises, Angel One and Happiest Minds among top performing stocks of 2021

<ul><li><keyword id="19563904" type="General" weightage="20" keywordseo="tata-technologies-ipo" source="Orion">Tata Technologies’ IPO</keyword> opens for subscription on November 22, amidst a lot of competition.</li><li>Analysts believe that the outsourced ER&amp;D market will see good growth ahead, and say that its price band offers investors an upside.</li><li>Even though it’s a complete offer for sale, brokerages predict good earnings growth for the company going ahead. </li></ul>The initial public offer (IPO) of Tata Technologies is opening its subscription alongside four other issues. While investment bankers are confident of the ‘high-quality business’ from the House of Tatas, analysts are backing the ₹3,042 crore issue due to its prospects, business model and mostly its pricing. The grey market is also the most optimistic it’s ever been in the recent past as it predicts 70% listing gains. The engineering research and development (R&amp;D) company offers product development and digital solutions to manufacturing companies. “Its areas of expertise include product engineering and manufacturing engineering in the mechanical domain such as body engineering, while it is adding capabilities in the software and embedded engineering segments,” says a report by Emkay. This market of global outsourced ER&amp;D market was estimated to be around $105-110 billion in 2022. Moreover, the digital engineering market is expected to grow at a compounded annual growth rate (CAGR) of 16% between 2022 to 2026. Auto to EV to aviation The subsidiary of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> is heavily focussed on the auto sector where it gets 75% of its revenues from. But its turnkey solutions can also be used across the manufacturing vertical. It has set its sights on aviation where the outsourced ER&amp;D market is as big as $9 billion per annum. “Apart from automotive, it will be a key beneficiary of tailwinds in aerospace led by capacity expansion plans of aircraft manufacturers and MRO (Maintenance, Repair, and Overhaul) activities,” says a report by IDBI Capital. The growing electric vehicle sector too is another area of focus. Prashanth Tapse, senior VP of research at Mehta Equities says that portfolio is diverse across traditional OEM’s to new-age electric vehicles. “We think outsourcing business models would be in great demand going forward in engineering services and digital transformation services to global manufacturing clients helping clients to conceive, design, develop and deliver better products,” Tapse adds. While services constitute around 80% of its revenues, it also gets 11% of revenues from products business where it re-sells third-party software applications. It also has an education vertical where it provides ‘phygital’ solutions in manufacturing skills – that nets it with 9% of revenues. Slower than peers, but better In the last three fiscal years, from FY21 to FY23, its revenue and profit after tax grew at a compounded annual growth rate (CAGR) of 36% and 62% respectively. Analysts say that the growth is a tad slow, as compared to its industry peers be it LTTS, its own group company Tata Elxsi and KPIT Cummins. “Tata Tech’s growth trajectory over FY16-23 remains slower than peers’, but has seen improvement in the last three years because of traction in select accounts. Weakness in a large client in H1FY24 due to near completion of the large full-vehicle development projects may weigh on the company’s near-term performance,” says a report by Emkay. The company had specified in its risk factors in the RHP that it’s heavily dependent on its top five clients. This also includes its anchor clients – its promoter Tata Motors, and its subsidiary, Jaguar Land Rover. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,414 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,529 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,380.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹436.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹239 crore </td></tr></tbody></table>Source: RHP ‘Investor-friendly pricing’ Emkay also quickly adds that all the above issues are fairly captured in its valuations. It has set a price band of ₹475-500 for the issue. At the upper end of the price band, Tata Tech is being valued at around 32 times its FY23 EPS. The same ratio for LTTS is at 40x, Tata Elxsi at 69x, and KPIT at 110x. Most brokerage reports say that the company has left something on the table for its IPO investors. “Despite 100% OFS offer investors are keen to own the share based on group legacy. We strongly advocate a good long term prospects for the company. We recommend it from a long-term perspective as well as strong listing gain due to investor friendly pricing given good room for upside,” said Tapse. IDBI Capital too said that it expects robust earnings growth going ahead, while Ventura also says that it has good earnings growth potential. “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years,” the Ventura report said. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/the-dark-truth-behind-rbis-crackdown-on-easy-personal-loans/articleshow/105287366.cms">The dark truth behind RBI’s crackdown on easy personal loans</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

Tata Technologies IPO: The price is right say analysts

<ul><li>This is the <keyword id="19516533" type="General" weightage="20" keywordseo="first-ipo" source="Orion">first IPO</keyword> from the House of Tatas in 19 years, after <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> listed in 2004.</li><li>Investors can bid for a minimum of 30 shares and in multiples thereof.</li><li>It’s a complete offer for sale with its promoter <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> and others offloading stake. </li></ul><keyword id="194006" type="General" weightage="20" keywordseo="tata-technologies" source="Orion">Tata Technologies</keyword>’ ₹3,042 crore initial public offer (IPO) will open for subscription on November 22 and close on November 24. It has fixed a price band of ₹475-500 for the issue. Investors can bid for a minimum of 30 shares and in multiples thereof. This is the first IPO from the House of Tatas in 19 years, after TCS listed on the bourses in 2004. And, it’s also the third biggest IPO to hit the markets this year after Mankind Pharma and Nexus Select Trust. The issue is a complete offer for sale by the promoter Tata Motors, and other investors like Alpha TC Holdings and Tata Capital Growth Fund I. Tata Motors will be offloading 11.4% stake in Tata Technologies, and not the 20% as mentioned in its DRHP earlier. Last month, Tata Motors sold 9.9% stake to TPG Rise-led investors for ₹1,613.7 crore. About the company Tata Technologies is a global engineering research and development (ER&amp;D) company offering outsourced engineering and digital transformation services to manufacturing clients. Its anchor clients include its promoter Tata Motors and its subsidiary, Jaguar Land Rover. It also has a clientele in electric vehicles and keen on the growth opportunities in the aviation sector. It also re-sells third-party software applications, and provides value-added services such as consulting, implementation, systems integration and support. It also provides ‘phygital’ education solutions in manufacturing skills in the latest manufacturing technologies. The book running lead managers expressed confidence in the demand from the issue. “Based on the investor meetings, we are confident of good response from retail investors as well as HNIs for the IPO. It’s a high quality business from the Tatas,” Arvind Vashishta, managing director, head of India equity capital markets, Citigroup said at the IPO press conference. Along with Citi, J M Financial and BofA Securities are the book running lead managers of the issue. Link Intime India is the registrar of the issue. Financials &amp; Risk Factors In FY23, the company’s revenue from operations grew 25% and its net profit grew 47% from the year before. Its EBITDA margins also expanded to 18.6% in FY23 from 18.2% in FY22. “We used the growth in topline and margins to build a business with cash flows. We have taken advantage of the growth journey to build efficiencies into the system. Our capital-light business model also helped expand the bottomline,” Savita Balachandran, CFO of Tata Technologies said at the IPO press conference. Its listed peers are KPIT Technologies, L&amp;T Technology Services and Tata Elxsi. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,414 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,529 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,380.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹436.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹239 crore </td></tr></tbody></table>Source: RHP The company said in its RHP that it derives a material portion of revenues from top five clients which include its anchor clients. And any deterioration of their business, it may have a material adverse effect on its business. Apart from entering into related party transactions, it also competes with its group companies like Tata Consultancy Services and Tata Elxsi. It also expects significant revenues to come from new energy vehicle companies, many of them maybe startup companies. “Uncertainties about their funding plans, future product roadmaps, ability to manage growth, creditworthiness and ownership changes may adversely affect our business, financial condition and results of operations,” Tata Technologies said. Its recent expansion of its education business, liability to damages for clients on account of system failures and more; any change in tax holidays to SEZs and licensing agreements with Tata Sons are the other risk factors listed in it. While it has undertaken one criminal proceeding, it has two such proceedings against it along with 17 tax proceedings, and 4 statutory or regulatory proceedings — amounting to ₹141 crore. Its promoter Tata Motors however has undertaken 80 criminal proceedings and 4 material civil litigations amounting to a liability of ₹2,797 crore. It also has 34 criminal cases against it and 817 tax proceedings, one statutory or regulatory proceeding and two disciplinary actions by SEBI or exchanges amounting to ₹4,503 crore.

Tata Technologies IPO to open on November 22, price band fixed at ₹475-500

New Delhi, Jan 29 () Tech firm KPIT Technologies on Wednesday posted a consolidated net profit of Rs 42.8 crore for the quarter ended December 2019.
 The company had reported a net profit (attributable to owners of the company) of Rs 35.9 crore in the preceding July-September period, KPIT Technologies said in a regulatory filing.
 Its revenue from operations stood at Rs 550.09 crore for the quarter under review as compared to Rs 544 crore in the preceding three-month period, it added.
 The numbers are not comparable on year-on-year basis. In 2018, CK Birla Group-owned Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players.
 After the demerger, the engineering business was incorporated on January 8, 2018, and listed on BSE and NSE as KPIT Technologies in April last year.
 "The automotive and mobility sector is investing in upcoming technologies, despite falling vehicle sales. Riding on this, we have demonstrated a strong year-to-date Q3FY20 constant currency growth of 15.5 per cent and a consistent improvement in net cash position," KPIT co-founder, CEO and MD Kishor Patil said.
 The company has declared an interim dividend of 55 paise per share, Patil said.
 "We are assertive of growth and consistent profitability improvement, going forward," he added.
 At the end of the third quarter, KPIT's net cash level stood at Rs 258.4 crore. 
 Its headcount was at 7,303 people at the end of December 2019 quarter. SR RVK

KPIT Technologies posts Q3 net profit of Rs 42.8 cr

‘KPIT Sparkle 2017’ is a national design and development innovation contest held every year. It is the brainchild of <keyword id="1911625" type="UNKNOWN" weightage="20" keywordseo="KPIT-Technologies">KPIT Technologies</keyword>, a global technology company specializing in IT consulting and product engineering. This time, the contest received 1,500 ideas from over 10,500 engineering and science students across 300 colleges in India. 
 Top 35 shortlisted teams will exhibit their solutions on Smart Cities through working prototypes at the grand final on 18th and 19th February, at the <keyword id="4147533" type="ORGANIZATION" weightage="20" keywordseo="deccan-college-ground">Deccan College Ground</keyword> in Pune. This year’s theme is Smart Cities and revolves around creating solutions for Smart Transportation and Smart Infrastructure. A panel of judges consisting of scientists, industrialists and academicians, will evaluate the projects on the final day. The selected finalists will be invited for job and internship opportunities at KPIT. The winners will also win cash prizes of over Rs 20 lakh. 
 Union Minister for HRD affairs, <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword> is the Guest of Honor and will be presiding the event along with his delegation. Padmashree Dr. <keyword id="149957" type="PERSON" weightage="20" keywordseo="Kiran-Karnik">Kiran Karnik</keyword>, who is the former President of <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> will be the chief guest. 
 
On receiving extraordinary response for KPIT Sparkle 2017, Ravi Pandit, KPIT’s Co-founder, Chairman and Group CEO said - “The Government of India’s emphasis on the Smart Cities initiative is pivotal towards development of the nation and will provide many opportunities towards creating ground-breaking solutions that solve real world issues. We are positive that these top 35 finalists selected for Sparkle 2017 will display exceptional technological acumen and scientific thinking, which are key elements for the success of the event.” 
 
On display, at the event, would be some interesting and novel projects in the areas of smart electric vehicles and self-learning bots, clean and efficient fuels enhanced with nanotechnology, solutions to recover and clean oil spills, coherent use of energy from plants, wind, solar and waste water and separation of plastics from waste. 
 
The larger intent of this move is to foster a culture of innovation and critical thinking among engineering and science students across colleges in India.

Jobs, Internships, Rs 20 Lakh cash: This competition will shower prizes for coming up with best 'Smart Cities' solutions

Mumbai, Jan 30 () Large investments, including a corporate office in Munich, have dented profitability for KPIT Technologies and the target is to get operating margin up to 18 per cent in the medium term, its management said on Thursday.
 To boost employee morale, the company is planning to allocate shares to 70 per cent of its over 7,000 employees by March as against only 20 per cent who own the company at present.
 The company, which had merged with Birlasoft in 2018 before splitting into two publicly listed companies in ealry 2019, has invested in hiring over 700 people at the Munich office, which is one of the most expensive locations in the world, its co-founder and chief executive Kishor Patil said.
 In results announced on Wednesday, it reported a post tax net of Rs 40.93 crore in the December quarter, up from Rs 36.73 crore in the year-ago quarter.
 The Pune-headquartered company which provides software solutions mainly to auto and mobility companies worldwide reported operating margins at 13.4 per cent in the December quarter, which was flat as the quarter ago period.
 "Most of the investments that we have to do are over now and we will be restricting the investments to 3-4 per cent of our revenues from here on. The target is to take the EBITDA to 18 per cent in the next few years," Patil told .
 The company, which added 1,000 people in calendar 2019, is also finalising a location to have an development centre in India but it may not impact margins, he said.
 It sees a healthy demand and deal flow, and will continue hiring in the new year as well, he said.
 The attrition was at "early double digits" as of December and the company is targeting to get it down to single digits in March quarter, he said.
 As a token for completing one year as a standalone entity, the company is targeting to give shares to over half its employees or over 3,500 people in the March quarter, Patil said, clearing that these are not ESOPs.
 Indian automakers are investing in technologies despite the reverses in demand, Patil said, adding that companies globally ought to invest for holding on to market shares in the competitive segment.
 The company scrip gained 0.46 per cent to close at Rs 99.35 apiece on the BSE on Thursday as against a 0.69 per cent correction on the benchmark. AA MR
MR

KPIT Tech targets 18pc EBITDA margin in medium term, says official

<a href="http://www.businessinsider.in/searchresult.cms?query=Front+line+Technology">Front line Technology</a> stocks were in heavy demand in a flat trading session on Wednesday, indicating an extremely defensive nature of investors in the market that has lost 3.1 percent in the last four trading sessions. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tech+Mahindra">Tech Mahindra</a> surged 4.6 percent to 537.70 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Consultancy+Services">Tata Consultancy Services</a> jumped 2.4 percent to 2,609 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Hexaware">Hexaware</a> soared 3.6 percent to 242.95 rupees 
<a href="http://www.businessinsider.in/searchresult.cms?query=Infosys">Infosys</a> added 1.3 percent to 1,108 rupees and 
MindTree gained 1.1 percent to 1,386 rupees 
 
Mid cap IT Stocks also saw sustained buying: 
 
8K Miles jumped 4 percent to 1,238 rupees 
Accelya Kales rose 1 percent to 995 rupees 
KPIT Tech added 2 percent to 102.95 rupees 
NIIT Tech was up 0.4% to 470 rupees and 
Sonata Software gained 1.8 percent to 139 rupees. 
 
Image credit: Indiatimes

Here's how the Software stocks are doing today

<ul><li>The <keyword id="123399" type="General" weightage="20" keywordseo="us-markets" source="Orion">US markets</keyword> trended higher after the UK reversed the course on its economic plan.</li><li><keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">Crude oil prices</keyword> continued to fall with the price of Brent crude oil at $91.98 per barrel.</li><li>On the domestic front, markets remained focused on the second quarter earnings announcements.</li></ul>Indian benchmark indices were buoyed by well-performing global markets, along with fall in crude oil prices. The US markets trended higher after the UK reversed the course on its economic plan. Its new finance minister <a href="https://www.businessinsider.in/stock-market/news/the-uks-new-finance-minister-speeds-up-announcement-of-tax-and-spending-plans-to-monday/articleshow/94914462.cms">scrapped unfunded tax cuts</a>, which had pulled the markets into turmoil. Bank of America reported too solid quarterly results, which boosted investor sentiment. Adding to it, crude oil prices continued to fall with the price of Brent crude at $91.98 per barrel. <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> gained 654 points to 59,066, while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> went up by 191 points to 17,503 in early trade. On the domestic front, markets remain focused on the announcements of the second quarter earnings of companies. So far, IT behemoths have announced healthy results indicating a positive economic growth. ICICI Lombard, Gujarat Fluorochemicals, Tata Communications, KPIT Technologies, Mahindra CIE, HFCL, and L&amp;T Technology Services are among companies that will announce their quarterly earnings today. Most sectoral indices were up with auto, IT and metals company stocks among top gainers. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ultratech Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.16% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/pvr-reports-net-loss-of-71-23-crore-in-q2-attributes-it-to-bollywood-hollywood-flops/articleshow/94917917.cms">PVR reports net loss of ₹71.23 crore in Q2, attributes it to Bollywood, Hollywood flops</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-lists-at-51-premium-amid-weak-market-opening/articleshow/94907450.cms">Electronics Mart India lists at 51% premium amid weak market opening</a>

Sensex up 654 points, Nifty up 191 on falling crude, rising global markets

<ul><li>The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Thursday, tracking weak cues from the global markets as negotiations continue to drag over the stimulus package in the US. The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of October 22, 09:55 am These are the top stocks in news today. Zee Entertainment Enterprises (ZEEL) up over 2% The shares of Zee Entertainment Enterprises (ZEEL) gained over 2%, a day after the company unveiled a major strategic restructuring to focus on revenue maximisation and foray into newer territories. Vedanta shares gain 3% Vedanta shares trade 3% higher ahead of the board meeting, which is scheduled to meet on October 24 to consider and approve the first interim dividend for FY21. GMM Pfaudler trades 1% higher Even in the volatile market, the shares of GMM Pfaudler were trading one percent higher. The company has reported a 29.14% jump in its consolidated net profit to ₹26.85 crore for the second quarter ended September 30. KPIT Tech shed over 3% The software technology company KPIT Tech shed over 3% after the company reported a 2.5% fall in its net profit to ₹27.8 crore for the quarter ended September 30. JK Tyre shares gain 6% The shares of tyre major JK Tyre gained over 6% during the morning trade on Thursday after the company reported strong QoQ growth in Q2. The company reported a net profit at ₹109.68 crore against the loss ₹204.17 crore in the first quarter. Bajaj Finserv trades 2% higher The shares of private lender Bajaj Finserv rose over 2% after it reported a 5.8% jump in its total income to ₹15,051.59 crore during the second quarter ended September 30. However, its consolidated net profit fell 18% to ₹986.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

New Delhi, Jan 31 () Birlasoft, a part of the USD 2 billion diversified C K Birla Group, on Friday reported a 76.7 per cent jump in consolidated net profit to Rs 72.7 crore for the December quarter.
 The company had posted a profit of Rs 41.1 crore in the year-ago period, Birlasoft said in a regulatory filing.
 Its revenue from operations rose marginally to Rs 833.3 crore in the period under review from Rs 826.9 crore in December 2018.
 In dollar terms, net profit grew 77.1 per cent to USD 10.2 million, while revenue from operations was up 1 per cent to USD 116.8 million.
 In 2018, Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players.
 After the demerger, the engineering business was re-listed on the BSE as KPIT Technologies, while Birlasoft was now positioned as an enterprise digital and IT services company.
 "Our laying of the foundation for growth in the last one year has borne fruits, reflected in our Q3 performance which witnessed healthy growth in revenue, margin and cash flows," Birlasoft CEO and Managing Director Dharmender Kapoor said.
He added that he felt optimistic about improved growth and profitability going forward. Birlasoft's headcount stood at 10,129 at the end of December 2019 with the addition of 135 professionals on a sequential basis. 
The attrition (on the basis of last 12 months) was at 20.3 per cent. 
The board declared an interim dividend of Re 1 per share. 
The number of active clients was 381, and net cash and cash equivalent was at Rs 685.4 million (USD 96.2 million) as of December 31, 2019. SR MR
MR

Birlasoft Q3 net profit jumps 76.7% to Rs 72.7 cr

Indian stocks resumed their upward trek on Friday, hitting their highest since August 21st, after a strong rally on overseas markets and better earnings locally helped traders extend long positions. Banking, Pharma and Energy stocks were in demand. 
 The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> locked in gains of 44 points to end the week at 8,295 points. <keyword id="6355975" type="CITY" weightage="100" keywordseo="Axis-Bank">Axis Bank</keyword>, ITC, Cairn, GAIL and NTPC were top gainers on the index while Idea, Bharti Airtel, Larsen &amp; Toubro, Vedanta and Maruti slipped in trade. The Nifty's Advance-Decline Ratio stood at 33/17 and Dr. Reddy's, Axis Bank, and Larsen &amp; Toubro were the top traded stocks on the National Stock Exchange. 
 Broader markets posted modest gains as well with the CNX 100, CNX 200 and CNX 500 indices rising 0.3 percent each. Mild profit booking was seen on the mid cap and the small cap indexes. The trend was mostly positive in the sectoral space with strong gains seen on the <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword>, CNX PSU Bank and CNX Finance indices. The CNX Pharma index was up modestly, as were benchmarks tracking the <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> and Energy sectors. A bit of selling pressure was observed on the Metals and media space. 
 The mood was upbeat on the Bombay Stock Exchange where the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> roe 183 points, or 0.7 percent, to 27,470 points. Tata Motors, Cipla and Lupin were among winners while Wipro, Hero Motors and Sun Pharma fell below their previous closing prices. The Advance-Decline ratio stood at 20/10 on the Sensex and Axis Bank, HDFC and HDFC Bank were the top traded stocks on the Index. 
 
Bulls surrendered their lead in the broader market with just 1,292 shares gaining compared with 1,421 that fell. 
 
The trend was flat on the derivatives space with the gainers matching the losers in count. Midcap futures gained with strong upticks seen on Cadila Healthcare and Syndicate Bank. Futures of IFCI, Motherson Sumi and I B Real Estate lost ground. 
 
3M India, KPIT Technologies and Container Corp of India made it to the top volume buzzers chart on the National Stock Exchange. 
 
(Image credits: Indiatimes)

Know how the markets closed today

Indian <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">stocks</keyword> resumed their upward trajectory on Friday as strong overnight gains on <keyword id="42111" type="COMPANY" weightage="100" keywordseo="Wall-Street">Wall Street</keyword> strengthened local traders to take long positions ahead of a string of blue chip earnings on Dalaal Street. 
 The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> jumped 57 points to trade at 8,308, its highest since August 21st. Cairn, Tatat Steel, NTPC, ONGC and GAIL leading the gainers pack. Losses were seen on Idea, Wipro, Bharti Airtel, Infosys and Dr. Reddy's on the Nifty where the Advance-Decline Ratio stood at 41/9. 
 
Axis Bank, Infosys, Reliance Industries were the top traded stocks on the National Stock Exchange. 
 
Sentiment was bullish in the wider market as well with the CNX 100, CNX 200 and CNX 500 indices gaining 0.7 percent each. Strong upticks were seen on the mid cap and the small cap sectors too. The sectoral space was positive too with benchmarks representing the Energy, Banking and Realty sectors exhibiting smart gains. But slight pull backs were seen on indices tracking the software and the media space. 
 The mood was equally upbeat on the Bombay Stock Exchange where the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> surged 221 points, or 0.8 percent, to 27,511 points. NTPC, Reliance Industries, HDFC and Lupin showed strong upticks while Dr. Reddy's slipped in trade. 
 
The Sensex saw 24 shares gaining compared with 6 that lost their footing in early deals. Reliance Industries, ITC and Vedanta were the top traded counters on the BSE. 
 
Bulls were in total command of the wider market with 1,308 shares gaining compared with 559 that slipped below Wednesday's closing prices. 
 The mood was festive in the derivatives space where 123 futures rose versus 41 that slipped. Hectic buying activity was observed in cement, <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword>, Energy and Pharma futures. Strong gains were witnessed on Syndicate Bank, Indiabulls Housing Finance ad Shriram Transport Finance while M&amp;M Finance, Castrol and Bharti Infratel slipped in trade. 
 
Nilkamal, KPIT Technologies, NELCO and Prabhat Dairy were some on the stocks that shone on the volume buzzers list on the NSE. 
 
 (Image credits: Indiatimes)

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