Shares of information technology giant Infosys will remain in action, as the company’s former senior officials TV Mohandas Pai, V Balakrishnan and DN Prahlad have written to its board of directors proposing a share buyback or 40 per cent dividend payout. The company is sitting on a huge cash pile. Balakrishanan said, "We are a set of retail shareholders who wants to impress upon the Board of Infosys to consider our proposal of announcing a large, consistent buyback programme."
Hero MotoCorp may skid on flat net
Shares of Hero MotoCorp may come under pressure on Wednesday, as the company’s April-June quarter financial perfomrnace was below market expectations. Hero MotoCorp’s net profit jumped just 2.5 per cent at ₹562.8 crore, whereas the Street had expected profit growth in region of 10-15 per cent. The results were announced after market hours. However, the company has approved hike in FII limit to 49 per cent from 40 per cent now. This could trigger some buying interest.
Focus on two Adani group companies
Shares of Adani Ports and Special Economic Zone (APSEC) and Adani Power will see market attention on Wednesday, as both the comanies are announcing their first quartrer results. Street expectations are high for the Adani group companies, with the stocks being on the rise in the last six months. Ever since the Narendra Modi-led Government took charge in the Centre, marketmen have given a premium to the group’s stocks. Adani Enterprises will declare its numbers on August 9.