Infosys: Infosys Limited, India’s second-largest IT services company, on October 13, 2022, reported a consolidated net profit of Rs 6,021 for the second quarter of FY23, up 11.1% from Rs 5,421 crore reported in the corresponding quarter of the previous year.

Revenue from operations stood at Rs 36,538 crore, reported a 23.4% growth over Rs 29,602 crore in the year-ago period, the company said in a stock exchange filing.

Infosys’ Board of directors also declared an interim dividend of Rs 16.50 per share, an increase of 10% over the financial year 2022 interim dividend. The total amount of the interim dividend will be around Rs 6,940 crore.

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HDFC Life Insurance Company:  The regulatory body Insurance Regulatory and Development Authority of India (IRDAI) approved the merger of Exide Life Insurance company with HDFC Life Insurance Company. The finalized date for the amalgamation is April 1, 2022, to be effective from the end of the day on October 14, 2022.

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Mindtree: The IT services company reported a net profit of Rs 508.7 crore, up by 7.9% quarter on quarter. Revenue in rupee terms grew 8.9% quarter on quarter to Rs 3,400.4 crore. The revenue in dollar terms grew by 5.7% quarter on quarter to $422.1 million for the quarter. Operating profit rose by 8.8% to Rs 650.6 crore and the margin dropped to 19.13% in the second quarter of FY23, from 19.2% in the first quarter of FY23. The attrition rate dropped to 17.7% versus 24.5% on a sequential basis.

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Coal India Limited: Coal India Ltd (CIL) is to set up a 1,190-MW solar power plant in the Bikaner district of Rajasthan. For this, it has signed a Memorandum of Understanding (MoU) with the Rajasthan Vidyut Utpadan Nigam Ltd (RUVNL). The plant will be set up in a 2,000-MW solar park being developed by RVUNL in Poogal, Bikaner. The state government has allotted 4,846-hectare land to develop the park. 

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Angel One: The company reported 17.7% quarter-on-quarter growth in profit at Rs 213.6 crore for the second quarter of FY23, with consolidated income growing 9% quarter-on-quarter to Rs 745.9 crore during the same period. It reported gross addition of around 1.2 million clients in the second quarter of FY23. The total client base crossed the 11 million mark during the quarter. An interim dividend of Rs 9 per share was announced by the company, which is equivalent to 35% of consolidated profit for the quarter.

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Anand Rathi Wealth: The company reported an 8.15% sequential growth in consolidated profit at Rs 42.95 crore for the second quarter of FY23, and revenue grew by 3.4% to Rs 136 crore compared to the year-ago period. Operating profit also registered an 8.4% quarter-on-quarter growth at Rs 60.4 crore for the quarter.

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Power Mech Projects: Bangalore Metro Rail Corporation awarded a Letter of Award worth Rs 499.41 crore to the company. This project is received by the company in a joint venture with Rail India Technical and Economic Service (RITES) with 49:51 sharing.