Stocks to Watch Today: Jio Financials, Wipro, Infosys, Axis Bank and others

Stocks to Watch Today: For the third straight day, the markets were under pressure and lost about 1%. Due to several news developments and second quarter results, shares of Jio Financial, Infosys, LTIMindtree, Wipro, Tata Consumer, MGL, and Axis Bank, among others, will be under focus in today’s trading.

Tata Consumer, Jio Financial, ZEE, and ICICI Lombard

Focus will be on Jio Financial, Tata Consumer, ZEE, and ICICI Lombard when they release their second quarter financial results today.

Infosys: The IT business increased its sales projection to 3.75–4.5% for FY25, citing a rebound in demand, especially in the banking and financial services sectors. The net profit for Q2 FY25 was Rs 6,506 crore, up 4.7% year over year but less than expected. The business intends to onboard 15,000–20,000 freshmen this fiscal year and declared an interim dividend of Rs 21 per share.

Axis Bank: For Q2FY25, the private sector lender saw a 16% YoY increase in net profit, amounting to Rs 6,918 crore. With a gross non-performing asset ratio of 1.44 percent, asset quality improved even as loan loss provisions increased. The robust demand for retail loans drove an 11% YoY growth in the bank’s advances.

Wipro: For Q2 FY25, Wipro recorded a 21.3% YoY growth in net profit to Rs 3,201 crore. Revenue was Rs 22,300 crore, up sequentially but marginally down year over year. With $1.5 billion in big deal bookings, the firm saw notable growth.

Bharat Forge: In order to strengthen its position in the commercial vehicle axle market, the business plans to pay Rs 544.5 crore to buy AAM India Manufacturing. This calculated action supports Bharat Forge’s objective of broadening the range of products it offers in the automotive components industry.

Zomato: On October 22, the board of the massive meal delivery company will think about using a QIP to raise money. This decision was made in the wake of a strong Q1 FY25 performance that saw a profit of Rs 253 crore, and it comes despite growing competition in the food delivery market.

LTIMindtree: For the second quarter of FY25, the IT solutions provider recorded 7.75% year-over-year growth in consolidated net earnings to Rs 1,251 crore. Additionally, revenues increased by 5.91 percent to Rs 9,432 crore. During the quarter, the firm added over 2,500 new workers and saw broad-based growth.

Adani Enterprises: To finance its ambitions for future expansion, the business obtained Rs 4,200 crore via a qualified institutional placement (QIP). A 4.2-fold oversubscription of the QIP indicates high investor interest. The money raised will be used for regular business needs, debt payments, and capital expenditures.

Nestle India: Despite difficulties caused by rising commodity costs, the FMCG business recorded an 8.6% increase in net profit to Rs 986.4 crore for the second quarter of FY25. The business is adding additional Cerelac varieties to its lineup, including ones without refined sugar.

Larsen & Toubro: In an effort to produce green hydrogen, L&T is getting ready to open its first electrolyser plant. The company’s plan to strengthen its new energy projects is in line with this facility.

Tata Shares: Noel After a recent discussion with the Tata Trusts board, Tata is anticipated to join the Tata Sons board. As the organization continues to manage leadership transitions, this action may indicate strategic shifts inside the company.

Jindal Stainless: Amidst headwinds in the export market, the business recorded a 21.05 per cent fall in net profit for Q2FY25, at Rs 611.31 crore. It is nevertheless upbeat about the development of domestic demand, however, especially for white goods and automobiles.

CEAT: Although sales increased by 8.23% to Rs 3,304.53 crore in Q2 FY25, the tire maker had a 41.4% fall in profit at Rs 121.88 crore. By implementing targeted price hikes, the corporation hopes to raise profits in the face of growing material prices.

Reliance Industries: In an effort to strengthen its position in South Asia, Mothercare has partnered with Reliance Brands, a division of Reliance Industries, to purchase a 51 percent share for £16 million ($21 million). In order to help reduce debt and provide financial flexibility, the firm additionally obtained fresh financing facilities totaling £8 million.

Central Bank of India: Raising net interest income and recoveries helped the bank post a 50.91 percent year-over-year rise in net profit to Rs 913 crore for the second quarter of FY25. With gross non-performing assets (NPAs) falling to 4.59%, asset quality improved.

HDFC Securities: The business is aiming to serve high-net-worth individuals and family offices by entering the wealth advice market with HDFC Tru. The purpose of this action is to profit from the anticipated increase in family financial assets, especially from Tier-2 and Tier-3 cities.

Indian Overseas Bank: With total revenue reaching Rs 8,484 crore, IOB recorded a 24% increase in net profit to Rs 777 crore for the second quarter of FY25. With its improved asset quality, the bank’s gross non-performing assets (NPAs) dropped to 2.72%.

Nuvama: In order to consolidate Nuvama’s staff, BHIVE leased approximately 900 chairs to Nuvama in its BKC workplace. This action is a response to the rising need for adaptable office space in important commercial areas.