Top headlines: Infy announces Rs 9.3k-cr share buyback; Sep PV sales up 92%

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Infosys Q2 net profit rises 11%, announces Rs 9,300-cr share buyback

IT major Infosys Ltd on Thursday reported 11% jump in consolidated net profit at Rs 6,021 crore for the quarter ending September 30, 2022, helped by strong demand for its digital services. It reported consolidated net profit of Rs 5,421 crore in the year-ago period.

The company's consolidated revenue from operations rose 23% to Rs 36,538 crore in Q2FY23 as against Rs 29,602 crore in Q2FY22. The firm also announced Rs 9,300-crore share buyback at floor price of Rs 1,850 per share. Read more

Passenger vehicle wholesales surge 92% in Sep on robust festive demand

Riding on the back of strong festive season demand, passenger vehicle wholesales in India increased 92 per cent to 3,07,389 units last month, as compared to the same month last year, auto industry body Society of Indian Automobile Manufacturers said on Thursday.

Passenger vehicle (PV) dispatches from factories to dealerships in September 2021 stood at 1,60,212 units. Read more

India's economy faces significant external headwinds, says IMF

India’s economy faces notable risks from global developments, including aggressive central bank actions and the fallout of the prolonged war in Ukraine, according to the International Monetary Fund.

“The headwinds facing India’s economy are significant,” IMF India Mission Chief Nada Choueiri said in an interview to Kathleen Hays and Rishaad Salamat on Bloomberg Television, referring to expectations of more policy tightening, and no end in sight to the war in Ukraine. “These are issues of concerns to us.” Read more

Uddhav Thackeray-led Sena writes to EC over symbol and name, alleges bias

Uddhav Thackeray faction of Shiv Sena on Thursday alleged bias by the Election Commission in the allocation of party symbols and name as it battles for control of the organisation with the group led by Maharashtra Chief Minister Eknath Shinde.

"..several communications and the actions of the Hon'ble Commission have given rise to a serious apprehension of bias in the mind of the Respondent," the Thackeray faction of the Shiv Sena said in a letter to the Election Commission through its lawyer Vivek Singh. Read more