Stocks To Watch Today on October 18, 2024: Axis Bank, Bharat Forge, Zomato Shares in Focus

On Wednesday, October 18, 2024, SGX Nifty traded lower by 0.56% to 24,720.5 at 08:15 AM, indicating a negative for the Indian domestic indices. Check out a few stocks, which will be in focus during the trading session.

• Infosys

Infosys has raised its sales forecast for FY25 to between 3.75% and 4.5%, indicating a rebound in demand, especially in banking and financial services. For Q2 FY25, the net profit was ₹6,506 crore, reflecting a 4.7% year-on-year increase, although it fell short of expectations.

• Axis Bank

During Q2 Fy25, Axis Bank reported an 18% year-on-year rise in net profit, reaching ₹6,918 crore. Even with increased loan loss provisions, asset quality improved, with a gross NPA ratio of 1.44%.

• Zomato

The board of the food delivery giant will meet on October 22 to consider raising funds through a Qualified Institutional Placement (QIP). This decision comes in response to increasing competition in the food delivery market and follows a robust Q1 FY25 performance, which saw a profit of ₹253 crore.

• Bharat Forge

The company plans to acquire AAM India Manufacturing for ₹544.5 crore, strengthening its position in the commercial vehicle axle sector. This strategic acquisition aligns with Bharat Forge’s goal to diversify its automotive components portfolio.

• Wipro

Wipro reported a 21.3% year-on-year increase in net profit, reaching ₹3,201 crore for Q2 FY25. Revenue was ₹22,300 crore, showing a slight decline year-on-year but an increase sequentially.

• Adani Enterprises

The company has raised ₹4,200 crore through a Qualified Institutional Placement (QIP) to support its future growth initiatives. The QIP was oversubscribed by 4.2 times, highlighting strong investor interest. The funds will be allocated for capital expenditure, debt repayment, and general corporate purposes.

• LTIMindtree

The IT solutions provider reported a 7.75% year-on-year increase in consolidated net profits, totalling ₹1,251 crore for Q2 FY25. Revenues rose to ₹9,432 crore, marking a 5.91% increase.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.