Stocks to Watch: IndusInd Bank, Bajaj Auto, Bandhan Bank, Wipro, Uno Minda and Titagarh Rail
Indian markets closed 0.8 percent lower on Wednesday and uncertainty is causing decline in investor sentiment. The Middle East conflict led to sharp rise in crude oil and gold prices in the recent days. US markets closed negative on Wednesday and global market sentiment is slightly bearish at the moment. Indian markets could open lower today and we can also see stock specific action as many big companies have declared quarterly numbers.
Technology major Wipro announced almost flat quarterly numbers and posted a net profit of Rs 2667 crore for the quarter. The company is facing pressure on margins and could report lower revenue in the upcoming quarters. The stock could see a decline in today’s session.
Titagarh Rail has reported 46 percent jump in net profit at Rs 70 crore. The revenue jumped by 54 percent to Rs 935 crore. The stock could offer strong performance in the upcoming sessions.
Bajaj Auto posted strong numbers with 20 percent jump in net profit for the quarter, compared to the same period last year. The company reported Rs 1836 crore in net profit and revenue jumped by 5 percent to Rs 10,777 crore. The stock can see strong performance in today’s session.
IndusInd Bank posted strong set of numbers with 22 percent growth in quarter net profit at Rs 2181 crore. The bank has registered 18 percent jump in net interest income. Among private sector banks, IndusInd has been performing well.
LTIMindTree reported slight decline in net profit but the total revenue was higher by 8.2 percent during the quarter. The stock could face decline as it has been a strong performer during the recent months. The lackluster results could lead to lower valuations for the stock.
Uno Minda has received a no-objection letter from NSE and BSE regarding the scheme of amalgamation with Kosei Minda Aluminium company and Kosei Minda Mould.