Stocks tracked on July 18: Wipro, Ltimindtree, Bandhan Bank, Axis Bank, Bharat Forge, etc.
Domestic stock benchmarks stopped a two-day victory in Thursday’s weakness, while financial and oil and its metal stocks won some support, preventing the deeper levels of the instrument. Sensex dropped 375.2 points, or 0.5%, to 82,259.2, while the Nifty 50 dropped 100.6 points, or 0.4%, to hit the 25,111.5 points. Here are many stocks to follow on Friday, July 18 as market participants’ next trade fair held on Dalal Street.
Company results
JSW Steel, Reliance Industries, L&T Financial Services, Bandhan Bank and Hindustan Zinc (HZL) are among nearly 30 companies planning to report financial results from April to June.
Ashok Leyland
Commercial Vehicle (CV) manufacturers set 29.3 billion shares issued as bonuses.
Samvardhana Motherson, Motherson Sumi Cabling and IFGL Torture Shares will be escrowed before the opening clock. Meanwhile, Bharti Airtel, Kotak Mahindra Bank, Hcltech, Birlasoft, Cummins India and Blue Star Stocks plans will be out.
Axis Bank
A group of financial performance has been weaker as high regulations undermined their profitability in the June quarter, the private sector lender reported.
Wipro
The quarterly results for IT majors are cluttered, with different estimates for revenue and net profit meetings, but insufficient profit margins.
The company’s churn rate increased by 10 basis points to 15.1%. It announced a dividend of Rs 5 per share.
ltimindtree
The company has already provided a good set of financial results, with net profits growing 11% in sequence to Rs 125.4 crore.
Bharat Forge
The company’s subsidiary, Kalyani Strategic Systems, has established a joint venture with DUMA Engineering Group called AEGIS Advanced Systems SL.
Inox wind
The company’s board of directors has approved the adoption of an equity or rights issuance proposal to raise up to Rs 125 billion.
Water mouth
The tire manufacturer is scheduled to invest Rs 4.5 crore in a factory in Chennai.
The facility will increase tire production capacity by 80%.
The project is planned to be completed by FY27.
Paytm
97 Communications, the parent company of digital payment platform Paytm, has established a subsidiary in Saudi Arabia called Paytm Cloud Technologies.
DMART
Avenue Supermarts has opened a new store in the Tathawade area of Pune, Maharashtra.
Balcony learning solutions
The company has launched Qualified Institutional Placement (QIP) for Rs 236.92 per person
Tata Communications
The company will acquire Infini Technologies for Rs 123.6 crore.
