Top stocks for today - 18th October 2024

18 Oct 2024 , 08:03 AM

Here are some of the stocks that may see significant price movement today.

Infosys: India’s second-largest IT services exporter reported a nearly 5% increase in second-quarter net profit and upped revenue outlook for the year, citing a broad-based recovery in demand, particularly from major financial sector clients. In the second quarter of the 2024-25 fiscal year, consolidated net profit was ₹6,506 Crore, up 4.7% from the previous year and 2.2% from the previous quarter.

Axis Bank: The bank’s net profit increased by 18% to ₹6,918 Crore in the second quarter of September 2024. The private sector lender reported a net profit of ₹5,864 Crore in the same period last year. The company’s total income grew to ₹37,142 Crore in the current quarter, up from ₹31,660 Crore in the previous year. The bank earned ₹30,420 Crore in interest income during the quarter, up from ₹26,626 Crore the previous year.

Wipro: The IT company recorded a 21.2% increase in total net profit of ₹3,208.8 Crore in the second quarter of FY25. The previous year, it posted a profit of ₹2,646.3 Crore. The revenue from operations for the reporting quarter was ₹22,301.6 Crore, a 0.95% decrease from ₹22,515.9 Crore in Q2 FY24. 

LTIMindtree: The company posted a combined net profit of ₹1,251 Crore, up 7.7% from ₹1,161.8 Crore the previous year. Profit increased sequentially by 10.33%. The Mumbai-based IT services firm reported a consolidated revenue from operations of ₹9,432.9 Crore for the quarter, up nearly 6% from ₹8,905.4 Crore in Q2 FY24 and 3.2% from ₹9,142.6 Crore in Q1 FY25.

Polycab India: The electrical goods company recorded a 3.6% YoY increase in net profit to ₹445.2 Crore for the second quarter ended September 30, 2024. Polycab India reported a net profit of ₹429 Crore in the preceding fiscal quarter, according to a regulatory filing.

Tata Communications: The company recorded a 3% YoY rise in net profit at ₹227.2 Crore for the second quarter ending September 30, 2024. According to a regulatory filing, Tata Communications reported a net profit of ₹220.6 Crore in the preceding fiscal quarter. The company’s revenue from operations increased by 18.4% to ₹5,767 Crore, from ₹4,872.5 Crore in the previous fiscal year.

Tata Chemicals: The company’s net profit decreased by 46.1% year on year (YoY) to ₹267 Crore in the second quarter ending September 30, 2024. In the preceding fiscal quarter, Tata Chemicals reported a net profit of ₹495 Crore, according to a regulatory filing. The company’s revenue from operations remained steady at ₹3,999 Crore, compared to ₹3,998 Crore in the previous fiscal year.

Zomato: According to a regulatory filing, the company’s board of directors will consider raising capital through qualified institutional placements (QIP) on October 22. The board will also approve the company’s second-quarter results on the same day, with an earnings call set for 5 p.m.

Bharat Forge: Bharat Forge Ltd. stated on Thursday, October 17, that it has signed a definitive deal to buy AAM India Manufacturing Corporation Pvt. Ltd., a subsidiary of American Axle & Manufacturing Holdings.

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