Stocks in news: Tech Mahindra, Infosys, Axis Bank, Adani Ports and more

Indian equity market ended higher for the fourth straight session on Tuesday powered by a rally in Asian and European markets amid continuous foreign fund inflows. Sensex climbed 374.76 points to end at 61,121.35. During the day, the 30-stock index zoomed 543.14 points to 61,289.73. Nifty advanced 133.20 points to close at 18,145.40. NTPC (5%) , PowerGrid (3.07 %) , Dr Reddy's (2.39%) , Infosys (2.27%) and Tata Consultancy Services (2.08%) were the top Sensex gainers.

Here's a look at stocks that are likely to remain in news today.

Earnings today: Adani Transmission, Procter & Gamble Hygiene & Healthcare, Dalmia Bharat, Mahindra & Mahindra Financial Services, Relaxo Footwears NSE, Grindwell Norton and Kajaria Ceramics are among the companies that will announce their results for September 2022 quarter today.

Tech Mahindra: The country's fifth largest IT services exporter logged a 4 per cent fall in profit in Q2, citing a compression in profit margin. The IT major's total revenues rose 20.7 per cent to Rs 13,129 crore for the reporting quarter as against the same period year-ago.

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Infosys: The IT major will seek shareholders' nod for its proposed Rs 9,300 crore share buyback between November 3 to December 2 through postal ballot. The company board on October 13 had announced a share buyback of Rs 9,300 crore via the open market route, for a price not exceeding Rs 1,850 per equity share.

Axis Bank: US-based private equity major Bain Capital sold 0.54 per cent stake or 1,66,80,000 shares in the private sector lender at an average price of Rs 891.38 a piece, taking the transaction size to Rs 1,486.82 crore, according to bulk deal data available with BSE.

Adani Ports and SEZ: The Adani Group company's consolidated profit rose 65.5 per cent to Rs 1,738 crore in Q2, supported by top line, operating income and lower tax cost. Revenue surged 33 per cent YoY to Rs 5,211 crore for the quarter.

NCC: The civil construction company has won two new orders for Rs 1,056 crore in October 2022. All these orders are related to water and environment division and is received from state government agencies.

Tejas Networks: The Tata Group firm will invest over Rs 750 crore under design-led Production Linked Incentive (PLI) scheme for manufacturing of telecom and networking products. Tejas Networks is one of the 42 companies selected for the scheme.

Voltas: The company reported a consolidated loss of Rs 6 crore for the quarter ended September FY23 as against a profit of Rs 104 crore for the same period last year, due to a provision made on an overseas project. Total income by 5.5 percent to Rs 1,833 crore compared to the year-ago period.

LIC Housing Finance: The housing finance company clocked a 23% YoY growth in standalone profit at Rs 305 crore in Q2. Revenue from operations for the quarter grew by 8% to Rs 5,085 crore compared to year-ago period.

NCC: The company has received two new orders for Rs 1,056 crore in October 2022. All these orders are related to water & environment division and are received from state government agencies.

Maruti Suzuki India: The car maker announced production of 1.56 lakh vehicles in October 2022, rising 15.8% compared to 1.34 lakh units produced in same month last year. Production volume in October 2021 was adversely impacted due to a sizeable shortage of electronic components.

Grasim Industries: The company said its Finance Committee of the Board of Directors has cleared issue of non-convertible debentures (NCDs) on private placement basis, for up to Rs 1,000 crore, in one or more tranches.