Indraprastha Gas Ltd., Elecon Engineering Co., Infosys Ltd., and Wipro Ltd. are the stocks to watch before going into trade on Friday.
Markets are set to react to the financial results of Infosys Ltd., Axis Bank Ltd., Wipro Ltd. and LTIMindtree Ltd. for the quarter ended September.
Elecon Engineering Co., Hindustan Zinc Ltd., and ICICI Lombard General Insurance Co. will release their financial results for the second quarter, which may impact market sentiment.
Tata Consultancy Services Ltd. has set Oct. 18 as the record date for a second interim dividend of Rs 10 per equity share of Rs 1 each of the company. The dividend will be paid to the shareholders of the company on Nov. 5.
Indraprastha Gas has announced that GAIL has cut its domestic gas allocation by around 21%, effective Oct. 16. This reduction is anticipated to negatively affect the company's profitability. Indraprastha Gas is currently in talks with key stakeholders to mitigate the impact of this change.
Here Are The Stocks To Watch Before Going Into Trade On Friday
Indraprastha Gas: GAIL has reduced the domestic gas allocation to the company, effective from Oct. 16. The revised domestic gas allocation is approximately 21% lower than the previous allocation.
Adani Enterprises: The company raised Rs 4,200 crore via QIP and allotted 1.41 crore shares at Rs 2,962 per share. The proceeds are to be used for funding capex, debt repayment and general corporate purposes.
Reliance Industries: Reliance Brands has entered into an agreement with Mothercare to form a JV with a 51-49 ownership structure for South Asia. The joint venture will own the Mothercare brand and its intellectual property assets across India, Nepal, Sri Lanka, Bhutan, and Bangladesh. As part of the deal, Reliance Brands will acquire a 51% stake in the JV for £16 million.
Prestige Estates Projects: The company in its second quarter business update reported a 43% rise in sales, reaching Rs 4,023 crore year-on-year. The realisation increased by 1.5%, now at 6,654 per square foot. Collections grew by 4%, totalling Rs 2,737 crore.
Zomato: The company is to consider raising funds through qualified institutional placements in a board meeting on Oct. 22.
Mahanagar Gas: A 20% cut in CNG allocation to be effective from Oct. 16, which will have an adverse effect on profitability. The company is exploring options to bridge this shortfall.
Aether Industries: The company operationalised additional 5 MW solar power capacity for its KPI Green unit.
Zydus Lifesciences: The company received final approval from USFDA for Fludrocortisone Acetate Tablets USP, 0.1 mg.
Also Read: Wipro Proposes Issuance Of 1:1 Bonus Shares
Earnings Post Market Hours On Thursday
Infosys Q2 FY25 (Consolidated, QoQ)
Revenue up 4.3% at Rs 40,986 versus Rs 39,351 crore (Bloomberg estimate Rs 40,707 crore)
Ebit up 4.7% at Rs 8,689 crore versus Rs 8295 crore (Bloomberg estimate Rs 8,726 crore)
Margin at 21.2% versus 21.1% (Bloomberg estimate 21.4%)
Net Profit up 2.2% at Rs 6,506 crore versus Rs 6,368 crore (Bloomberg estimate 6,815 crore)
Declared interim dividend of Rs 21 per share.
Wipro Q2 (Consolidated, QoQ)
Revenue up 1.5% at Rs 22,302 crore versus Rs 21,963 crore (Bloomberg estimate Rs 22,271 crore)
Ebit up 1.3% at Rs 3,672 crore versus Rs 3,625 crore (Bloomberg estimate Rs 3,625 crore)
Margin flat at 16.5% (Bloomberg estimate 16.3%)
Net Profit up 6.8% at Rs 3,208 crore versus Rs 3,003 crore (Bloomberg estimate Rs 2,996 crore)
Declared issue of bonus shares in the ratio of 1:1.
Axis Bank Q2 FY25 (Standalone, YoY)
NII up 9% at Rs 13,483 crore versus Rs 12,314 crore
Net Profit up 18% at Rs 6,918 crore versus Rs 5,864 crore (Bloomberg estimate Rs 6,381 crore)
Net NPA Flat At 0.34% (QoQ)
Gross NPA At 1.44% Vs 1.54% (QoQ)
LTIMindtree Q2 FY25 (Consolidate, YoY)
Revenue up 3.17% to Rs 9,433 crore versus Rs 9,143 crore (Bloomberg estimate Rs 9,431 crore)
Ebit up 6.34% to Rs 1,458 crore versus Rs 1,371 crore (Bloomberg estimate Rs 1,462 crore)
Ebit margin up 46 bps to 15.5% versus 15% (Bloomberg estimate 15.5%)
Net profit up 10.3% to Rs 1,252 crore versus Rs 1,135 crore (Bloomberg estimate Rs 1,226 crore)
Declared interim dividend of Rs 20 per share.
Tata Chemicals Q2 FY25 (Consolidated, YoY)
Revenue up 0.02% to Rs 3,999 crore versus Rs 3,998 crore (Bloomberg estimate Rs 3,994 crore)
Ebitda down 24.54% to Rs 618 crore versus Rs 819 crore (Bloomberg estimate Rs 647 crore)
Ebitda margin down 503 bps at 15.45% versus 20.48% (Bloomberg estimate 16.2%)
Net profit down 46.06% to Rs 267 crore versus Rs 495 crore (Bloomberg estimate Rs 231 crore)
Polycab India Q2 FY25 (Consolidated, YoY)
Revenue up 30.34% to Rs 5498 crore versus Rs 4218 crore (Bloomberg estimate Rs 4,984 crore)
Ebitda up 3.61% to Rs 631 crore versus Rs 609 crore (Bloomberg estimate Rs 657 crore)
Ebitda margin down 296 bps at 11.47% versus 14.43% (Bloomberg estimate 13.2%)
Net profit up 3.48% to Rs 445 crore versus Rs 430 crore (Bloomberg estimate Rs 453 crore)
Earnings In Focus On Friday
Elecon Engineering Co., Hindustan Zinc Ltd., and ICICI Lombard General Insurance Co. are among the top names that will announce their results on Friday for the second quarter of the current financial year.
Analyst estimates show that Elecon Engineering is likely to report a net profit of Rs 6,381 crore, according to Bloomberg estimates.
A Vedanta Group company, Hindustan Zinc, is likely to clock a bottom line of Rs 2,251.0 crore and is expected to report a top line of Rs 7,899.0 crore, according to Bloomberg estimates. ICICI Lombard is estimated to report a profit of Rs 680 crore.
The NSE Nifty 50 and BSE Sensex extended losses for the third straight session to record their lowest closing in nearly two months on Thursday as some of the quarterly results of key companies failed to impress the market.
Additionally, on Friday markets will also react to a slew of economic data and events in the US and Europe, such as the ECB's monetary policy decision, US retail sales, and US unemployment claims.
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