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MARKETS LIVE: Stock Advisory Company, Indices at fresh high, Nifty hits 10,700; Infy down 1%
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Benchmark indices are trading higher following Asian shares, that hit historic highs on Monday after Wall Street extended its record-breaking run, while the US dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world.
Back home, Information technology giant Infosys on Friday said its net profit for the quarter ended December 2017 rose 38% sequentially to Rs 51.29 billion as against Rs 37.26 billion in the previous quarter.
In sequential terms, revenue rose 1.3% to Rs 177.94 billion as compared to Rs 175.67 billion in September quarter.
Meanwhile, India’s retail inflation hit a fresh high, growing 5.2% in December, mainly due to hardening housing, fuel, and food prices, while inching towards RBI’s upper tolerance level of inflation at 6%.
Capital First hits 52-week high on merger with IDFC Bank
Hit a 52-week high of Rs 901, up 8% on BSE in early morning trade after the company engaged in financial services business announced that its board approved the merger of the company with IDFC Bank.
IDFC Bank and Capital First on Saturday, January 13, 2018, announced that the boards of directors of IDFC Bank and Capital First at their respective meetings held on January 13, 2018, approved a merger of Capital First with IDFC Bank.
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