Stocks To Watch : Axis Bank, Bharat Forge, Zomato Shares in Focus
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 â¹6,506 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 â¹6,918 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 â¹253 crore.
Wipro:
Wipro reported a 21.3% year-on-year increase in net profit, reaching â¹3,201 crore for Q2 FY25. Revenue was â¹22,300 crore, showing a slight decline year-on-year but an increase sequentially.
Adani Enterprises:
The company has raised â¹4,200 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 â¹1,251 crore for Q2 FY25. Revenues rose to â¹9,432 crore, marking a 5.91% increase.
