Stocks to Watch Today: Wipro, Infosys, Axis Bank, Nestle and Others

Stocks to Watch Today: As part of the current slump, the markets lost about half a percent as they resumed their downward trajectory. Due to a variety of news events and second quarter results, shares of Wipro, Infosys, Axis Bank, Nestle, Bajaj Auto, and RIL, among others, will be the subject of attention in today’s trading.

Nestle, Axis Bank, Wipro, Infosys, and LTIMindtree

The spotlight will be on the stocks of Wipro, Infosys, Axis Bank, Nestle, and LTIMindtree as they all plan to release their second quarter earnings today.

Bajaj Auto: Due to a one-time deferred tax payment, the company’s consolidated net profit for the second quarter of FY25 decreased by 31.4% to Rs 1,385.44 crore. However, strong car sales and rebounding exports were the main drivers of the operations’ 22.2% growth in revenue, which came to Rs 13,247.28 crore. The company’s Ebitda increased by 24% year over year to a record Rs 2,653 crore. The business’s sales and profit expectations for the quarter were below consensus.

L&T Technology Services: Driven by robust demand from the European car industry, LTTS recorded a 1.3% rise in net profit to Rs 319.6 crore for the second quarter. Revenue increased by 7.8% to Rs 2,572.9 crore. The corporation intends to increase profit margins from the current 15.1% to 10% and targets an 8–10% increase in sales by FY25.

CRISIL: For the third quarter of 2024, the company’s net profit increased by 12.86 percent year over year to Rs 171.55 crore. Its overall revenue rose to Rs 833.2 crore, a 7.9% rise. An interim dividend of Rs 15 per share was announced by the board, up from Rs 11 during the same quarter previous year.

Bikaji Foods International: The business has declared that it would strategically spend Rs 131.01 crore to acquire a 53.02 percent share in Hazelnut Factory Food Products, an artisanal sweets and café brand located in Lucknow. By establishing a House of Brands and expanding Bikaji’s product line, this purchase seeks to establish the business as a major force in the quick service restaurant (QSR) industry.

Bombay Stock Exchange: Concerns about new regulatory rules impacting futures and options trading caused Jefferies to cut the BSE’s rating to “underperform,” which resulted in a more than 5% decline in share prices. Relative to the present price of Rs 4,495 per share, Jefferies has set a price objective of Rs 3,500.

Reliance Industries: RIL has filed more than 3,000 patents covering AI, 5G, and 6G technology. intends to firmly establish itself on the international tech scene.

Power Finance Corporation: With an emphasis on financing to the power and infrastructure sectors, PFC’s subsidiary, PFC Infra Finance IFSC, has been granted permission to function as a finance company in Gujarat’s GIFT City. This action is anticipated to strengthen PFC’s worldwide footprint and support India’s aspirations to become a financial center.

Himadri Specialty Chemical: Driven by better margins, the business recorded a 33% year-over-year rise in net profit to Rs 134 crore for Q2 FY25. The firm reported successful export milestones and saw a 13% increase in sales to Rs 1,135 crore.

Vodafone Idea: In addition to improving its 4G capabilities, Vi plans to deploy out 5G equipment in six or seven telecom circles in partnership with Samsung. In the next year, the business hopes to replace outdated Chinese equipment and raise the percentage of the population covered by 4G from 77% to 90%.

Titagarh Rail Systems: Morgan Stanley has invested more than Rs 85 crore in the company, obtaining a 0.57% ownership position. On the other hand, Capital Group sold about 7.90 lakh shares of the same business.

Container Corporation of India: Since August, the stock of Concor has dropped 15% as a result of heightened competition and poor demand. Analysts are downgrading their projections for volume growth in FY25, citing difficulties in the export market and orders from the government that impact handling fees.

Bharti Airtel: Nokia and Bharti Airtel are in discussions over a possible multi-billion dollar deal for 5G communications gear.

Jet Airways: After hearings over the airline’s possible liquidation, the Supreme Court is scheduled to rule on the airline’s future. State Bank of India (SBI)-led lenders are pushing for liquidation, while the winning bidder, Jalan Kalrock Consortium (JKC), is battling to carry out the resolution plan that the NCLAT authorized.

BSNL: Viasat has worked with BSNL to showcase two-way messaging capabilities and direct-to-device satellite connection in India. This technology has potential uses in many different areas and might improve connections for millions of people who do not have access to dependable terrestrial solutions.