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Business News/ Markets / Stock Markets/  Stocks to Watch: Axis Bank, TechM, TCS, IRM Energy, Jubilant Foodworks
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Stocks to Watch: Axis Bank, TechM, TCS, IRM Energy, Jubilant Foodworks

Asian Paints, Canara Bank, Colgate Palmolive, Indian Bank, ACC, PNB, Shriram Finance, Railtel Corporation, and Vodafone Idea will be among the stocks to watch on Thursday as they will be declaring their quarterly earnings report

Stocks to Watch for Thursday(AP Photo/Andy Wong)Premium
Stocks to Watch for Thursday(AP Photo/Andy Wong)

Here are the top stocks that could be in focus in today's trade:

Axis Bank: Axis Bank Ltd on Wednesday reported a net profit of 5,863 crore in the second quarter of FY24 registering a 10% growth from 5,329.8 crore in the corresponding quarter of last year. NII during Q2FY24 rose 18.9% to 12,314.56 crore from 10,360.26 crore YoY. NIM for Q2FY24 was 4.11%, up 1 basis point QOQ and 15 basis points YOY, according to Axis Bank's filing exchange. For Q2FY24, core operating profit increased by 5% QOQ and 12% YoY to 8,733 crores.

Tech Mahindra: Tech Mahindra posted a staggering 62% drop in net profit in the September quarter, rounding off what was one of the worst quarters for this industry in the past five years, barring the Covid-disrupted period. Its revenues for the period were at $1.55 billion, down 2.8% sequentially in constant currency terms, while net profit fell 29.3% sequentially, and a whopping 62.5% from a year earlier to $59.5 million.

TCS: Information technology (IT) major Tata Consultancy Services (TCS) has been issued a notice by the Ministry of Labour and Employment of Maharashtra over a complaint of delayed onboarding of “200 lateral recruits", a report by Moneycontrol said on Wednesday. The labour department has issued a notice to TCS officials to meet department officials and discuss the matter on November 2 at the Pune labour department office.

IRM Energy: IRM Energy's IPO listing date has been scheduled for Thursday, October 26 on NSE and BSE, as the company has switched to the T+3 listing norm. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of IRM Energy share price was indicated at 537 apiece, which is 6.34% higher than the IPO price of 505.

NTPC/Engineers India: State-owned NTPC Ltd on Wednesday signed an agreement with Engineers India Ltd (EIL) to work jointly on projects like carbon capture utilization and storage, and green fuel among others. Besides its R&D centre will also undertake joint projects on green fertilizers, bio-fuels, decarbonization, waste handling, water, and ash with EIL, NTPC said in a statement.

Jubilant Foodworks: Jubilant Foodworks Ltd on Wednesday reported a 26.1% decline in its consolidated net profit to 97.20 crore in the second quarter ended on September 2023. The company had posted a consolidated net profit of 131.53 crore in the July-September quarter of the previous fiscal. Its revenue from operations during the quarter increased 5.15% to 1,368.63 crore against 1,301.48 crore in the year-ago period, it added.

Welspun India: Home textiles major Welspun Living Ltd on Wednesday reported a multi-fold rise in consolidated net profit to 200.41 crore for the September quarter. The company had posted a net profit of 8.33 crore in the year-ago period, according to a regulatory filing by Welspun Living. Its revenue from operations rose 18.71 per cent to 2,509.08 crore during the second quarter of the current fiscal as against 2,113.46 crore in the year-ago period.

Indus Towers: Indus Towers recorded a net profit of 1,295 crore in Q2FY24, which is 49% higher than 872 crore reported in the year-ago period, as per the unaudited consolidated financial results released on October 25. The company's revenue during the September 2023 quarter, however, dipped by 10% on-year, as it came in at 7,133 crore as compared to 7,967 crore reported in the September 2022 quarter.

IHCL/Chalet Hotels/EIH: The hotel industry will report double-digit revenue growth in FY2024, supported by the sustenance of domestic leisure and business travel and an increase in foreign tourist arrivals, rating agency Icra said on Wednesday. The industry has also benefitted from the G20 summit and ongoing ICC World Cup 2023, it added. Icra estimates pan-India premium hotel occupancy at around 70-72 per cent in FY24, after recovering to 68-70 per cent in FY23.

Sona BLW Precision Forgings: Auto parts maker Sona BLW Precision Forgings Ltd (Sona Comstar) on Wednesday reported a 34% rise in net profit to 124 crore in the September quarter. The company had recorded a profit of 93 crore in the year-ago period, the company said. Revenue during the second quarter of the current fiscal increased 20% to 791 crore compared to 657 crore in the July-September period of the previous fiscal, the company said.

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Published: 26 Oct 2023, 07:20 AM IST
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