Good morning!
Here are the top stories to start your day.
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⭐ HCL Tech’s Q2 revenues rise
HCL Technologies has reported healthy earnings in the September quarter. Its revenue jumped by 19.5% year-on-year and 5.5% sequentially to ₹24,686 crore. Meanwhile, its net profit rose by 7% YoY to ₹3,489 crore. The attrition rate continues to remain stable at 23.8% for the last twelve months. The company also announced an interim dividend of ₹10 per share.
⭐ Sterling & Wilson bags new order
Sterling and Wilson Renewable Energy has bagged a new order from NTPC Renewable Energy for a solar PV project. The order has a total value of ₹2,212 crore and will be commissioned in three years.
⭐OPEC revises global oil demand outlook
Crude oil producers’ organisation OPEC has cut its global oil demand forecast for 2022 and 2023. It believes global oil demand could fall by 460,000 barrels per day to 2.64 million barrels per day this year. Meanwhile, the demand outlook for next year has been revised to 2.34 million barrels per day. OPEC cited China’s zero-Covid policy, economic challenges in the European region and inflationary pressures as key challenges for subdued demand forecasts.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.36% |
| Nikkei 225 (Japan) | ▼ 0.52% |
| Hang Seng (Hong Kong) | ▼ 1.18% |
| SSE Composite (China) | ▼ 0.31% |
| Dow Jones (US) (October 12) | ▼ 0.1% |
| NYSE (US) (October 12) | ▼ 0.4% |
| Nasdaq (US) (October 12) | ▼ 0.09% |
| S&P 500 (US) (October 12) | ▼ 0.33% |
Fact of the day
The Kochi Metro Rail has launched free Wi-Fi service for commuters using the metro trains.