Former Infosys Director Mohandas Pai on the economic slowdown and India Inc’s woes

Former Infosys Director TV Mohandas Pai speaks to Business Today about possible solutions for the economic slowdown, India Inc’s worries, tax …

Former Infosys Director Mohandas Pai on the economic slowdown

August 9, 2019
Former Infosys Director TV Mohandas Pai speaks to Business Today about possible solutions for the economic slowdown, India Inc’s worries, tax terrorism and the NBFC crisis. Watch the video for more.

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    Affle India lists at 25% premium to issue price

    On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit …

    The shares of Affle India has made a strong debut in the secondary market today. The share price of the advertising and media firm was listed at the upper end of the price band fixed at Rs 745 apiece, on both the bourses today.

    On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit the day’s high 199 points or 26.9% against the listing value at Rs 944.90 and a low of Rs 915.05.

    On Bombay Stock Exchange (BSE), the stock price opened at Rs 929.90, registering an initial gain of 186.85 points or 25.1% higher . It then rose 213 points or 28.6% to Rs 958.3 on the exchange. The stock has, however, touched an intraday low of Rs 915.

    As per data available on BSE, the Market Capitalisation generated on the very fisrt day of listing stands at Rs 2,200.72 cr.

    Volume-wise, the shares changing hands totals to 2.50 lakh and 30.6 lakhs on BSE and NSE, respectively. As of 1020 hrs IST, the stock price of Affle India trades 25.4% higher at Rs 934.50 on BSE and 25.6% higher at Rs 933.90 on NSE.

    “The equity shares of Affle (India) Ltd are listed and admitted to dealings on the exchange effective from August 08, 2019, in the list of ‘B-group securities'”, company’s regulatory listing notification said.

    The Rs 459 crore initial public offer (IPO) of the mobile marketing company Affle India, conducted from July 29 to July 31 in the price range of Rs 740 to Rs 745 per share, received an overwhelming response in the primary market, with investors over-subscribing as much as 86 times on its final day.

    The IPO consisted of a fresh issue of 12.16 lakh shares worth Rs 90 crore and an offer for sale of 49,53,020 equity shares, including anchor portion of 27,72,483 equity shares. The 100 % book built issue IPO was at the face value of Rs 10 with a minimum order quantity of 20 equity shares (Lot size). The IPO received about Rs 206.55 crore from 15 anchor investors on July 26.

    Incorporated in 2005, Affle (India) Limited is a leading global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.

    Read More:

    Affle India IPO oversubscribed 86 times on final day

    Affle India’s Rs 459 crore IPO opens for subscription; should you invest?

    Edited by Rupa Burman Roy

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    Awfis bags $30 Mn Series D round from ChrysCapital, Sequoia and others

    Venture Capital firm Sequoia Capital India and The Three Sisters Institutional Office also participated in the round. With the infusion of new funds, …

    Co-living and co-working segments have been undergoing a lot of actions this year. Be it Gurugram-based GoWork, GoHive or Bengaluru- headquartered NestAway, all these startups have raised over huge funding collectively.

    Yet another co-working space provider Awfis has reportedly raised $30 million in Series D funding round led by ChrysCapital. Venture capital firm Sequoia Capital India and The Three Sisters Institutional Office also participated in the round.

    With the infusion of new funds, Awfis is looking forward to expedite the company’s core commitment towards building the largest network of futuristic workspaces.

    To launch its new products and services, the startup has further aimed to inculcate fresh micro-markets in the country.

    The round kicked off in July when the Amit Ramani led company was about to receive its first tranche worth Rs 90 crore from Bisque Ltd and Link Investment Trust.

    Prior to this, Awfis had raised over $50 million in a mix of equity and debt financing rounds.

    The investment announcement has come on a day when another co-working company Gowork raised $53 million debt round from BlackRock and CSLA capital partners.

    Founded in 2015, Awfis had clocked a nearly 3X jump in revenue during FY19 at Rs 158 crore from Rs 56 crore in the preceding fiscal on the back of rising demand for shared office space.

    Currently, it serves around 1,500 companies and about 25,000 professionals work form its facilities. Recently, the company projected revenue of Rs 300 crore by the end of the ongoing fiscal.

    The firm counts BHIVE, Innov8, 91springboard, Stirring Minds, among others as its close competitors. OYO is another deep-pocketed competition in the space. The company has already launched two separate co-working brands – Powerstation and WorkFlo. It also acquired Innov8 in a cash plus stock deal in the tune of Rs 200 crore.

    The development was reported by TOI via PTI.

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    Greenleaf Trust Has $1.04 Million Stake in Infosys Ltd (NYSE:INFY)

    Greenleaf Trust increased its holdings in Infosys Ltd (NYSE:INFY) by 1.1% in the second quarter, Holdings Channel reports. The institutional investor …

    Infosys logoGreenleaf Trust increased its holdings in Infosys Ltd (NYSE:INFY) by 1.1% in the second quarter, Holdings Channel reports. The institutional investor owned 97,286 shares of the technology company’s stock after buying an additional 1,016 shares during the period. Greenleaf Trust’s holdings in Infosys were worth $1,041,000 at the end of the most recent reporting period.

    Several other hedge funds and other institutional investors have also added to or reduced their stakes in INFY. Pennsylvania Trust Co acquired a new position in Infosys during the first quarter valued at approximately $1,502,000. Butensky & Cohen Financial Security Inc. raised its position in Infosys by 5.4% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 232,950 shares of the technology company’s stock valued at $2,493,000 after purchasing an additional 11,915 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Infosys by 1,019.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 694,200 shares of the technology company’s stock valued at $7,587,000 after purchasing an additional 632,200 shares in the last quarter. Advisory Services Network LLC raised its position in Infosys by 491.3% during the first quarter. Advisory Services Network LLC now owns 24,999 shares of the technology company’s stock valued at $273,000 after purchasing an additional 20,771 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its position in Infosys by 15.2% during the first quarter. Commonwealth Bank of Australia now owns 1,412,719 shares of the technology company’s stock valued at $15,435,000 after purchasing an additional 186,396 shares in the last quarter. Institutional investors own 17.83% of the company’s stock.

    Several research analysts have commented on INFY shares. ValuEngine downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Credit Suisse Group downgraded shares of Infosys from a “neutral” rating to an “underperform” rating in a research report on Monday, April 15th. Deutsche Bank downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets set a $13.00 price objective on shares of Infosys and gave the company a “hold” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.96.

    Shares of NYSE:INFY opened at $11.08 on Monday. The business’s fifty day moving average is $11.00. The firm has a market capitalization of $48.16 billion, a P/E ratio of 20.52, a PEG ratio of 2.12 and a beta of 0.53. Infosys Ltd has a 52-week low of $8.85 and a 52-week high of $11.64.

    Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $218.03 billion during the quarter, compared to the consensus estimate of $216.51 billion. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, research analysts predict that Infosys Ltd will post 0.55 earnings per share for the current year.

    About Infosys

    Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

    Further Reading: Moving Average – How it Helps Investors in Stock Selection

    Want to see what other hedge funds are holding INFY?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Ltd (NYSE:INFY).

    Institutional Ownership by Quarter for Infosys (NYSE:INFY)

    Receive News & Ratings for Infosys Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Infosys and related companies with MarketBeat.com’s FREE daily email newsletter.

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    Greenleaf Trust Has $1.04 Million Holdings in Infosys Ltd (NYSE:INFY)

    Greenleaf Trust increased its holdings in shares of Infosys Ltd (NYSE:INFY) by 1.1% during the 2nd quarter, according to its most recent filing with the …

    Infosys logoGreenleaf Trust increased its holdings in shares of Infosys Ltd (NYSE:INFY) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,286 shares of the technology company’s stock after buying an additional 1,016 shares during the quarter. Greenleaf Trust’s holdings in Infosys were worth $1,041,000 as of its most recent SEC filing.

    A number of other institutional investors have also modified their holdings of INFY. Dimensional Fund Advisors LP raised its stake in Infosys by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,866,845 shares of the technology company’s stock worth $112,946,000 after buying an additional 743,055 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Infosys by 9.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 21,700 shares of the technology company’s stock worth $207,000 after buying an additional 1,827 shares during the period. Macquarie Group Ltd. raised its stake in Infosys by 38.0% during the 4th quarter. Macquarie Group Ltd. now owns 52,423 shares of the technology company’s stock worth $499,000 after buying an additional 14,423 shares during the period. Millennium Management LLC acquired a new stake in Infosys during the 4th quarter worth $1,033,000. Finally, Advisory Services Network LLC raised its stake in Infosys by 303.8% during the 4th quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock worth $40,000 after buying an additional 3,181 shares during the period. 17.83% of the stock is currently owned by institutional investors and hedge funds.

    Several analysts recently commented on the company. Investec downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Deutsche Bank downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Credit Suisse Group downgraded Infosys from a “neutral” rating to an “underperform” rating in a research note on Monday, April 15th. Morgan Stanley downgraded Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 price target on the stock. in a research note on Monday, April 15th. Finally, Nomura raised Infosys from a “reduce” rating to a “neutral” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.96.

    Shares of NYSE INFY opened at $11.08 on Monday. The company has a market cap of $48.16 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.12 and a beta of 0.53. The firm has a 50-day moving average of $11.00. Infosys Ltd has a fifty-two week low of $8.85 and a fifty-two week high of $11.64.

    Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $218.03 billion during the quarter, compared to analysts’ expectations of $216.51 billion. Infosys had a return on equity of 25.55% and a net margin of 18.26%. Infosys’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Research analysts anticipate that Infosys Ltd will post 0.55 EPS for the current year.

    About Infosys

    Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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    Institutional Ownership by Quarter for Infosys (NYSE:INFY)

    Receive News & Ratings for Infosys Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Infosys and related companies with MarketBeat.com’s FREE daily email newsletter.

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