Stocks to watch: Shares of firms like Wipro, Biocon, IndiGo, Bajaj Finance, Glenmark, HUDCO, and others will be in focus on Wednesday’s trade.
Stocks To Watch on October 19: GIFT Nifty on the NSE IX traded 24.5 points, or 0.12 per cent, lower at 19,787, signaling that Dalal Street was headed for negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Q2 Results to Watch: Wipro, Astral, Bajaj Auto, Bandhan Bank, ICICI Lombard General Insurance, IIFL, IndusInd Bank, LTIMindtree, OFSS, Persistent Systems, Polycab Technologies, Shoppers Stop, Titagarh Rail Systems, UTI AMC and Wipro are few of the prominent companies scheduled to announce September quarter earnings today.
Biocon: The company’s a step-down subsidiary of Biocon Biologics has received a communication from the US Food and Drug Administration (FDA) pursuant to its July 2023 cGMP inspection at its insulins manufacturing facility at Johor, Malaysia. The FDA has determined the inspection classification as ‘OAI’ (Official Action Indicated). The OAI status may cause delay and/ or withholding of pending product approvals or supplements from the facility.
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Hudco: The government plans to offload 7 per cent in Housing Urban Development Corporation (Hudco) through the offer for sale (OFS) route on Wednesday. It has put on the block a total of 140 million shares at a floor price of Rs 79 per share.
Bajaj Finance: Reported a 28 per cent year-on-year (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Net Interest Income (NIIT) expanded by 26 per cent YoY to Rs 8,845 crore.
L&T Technology Services (LTTS): Net profit grew 5.1 per cent to Rs 315.4 crore for the second quarter (Q2) of FY24. Revenue from operations rose by 4.6 per cent to YoY to Rs 2,386.50 crore.
ICICI Prudential Life Insurance: Posted a 22.4 per cent YoY increase in net profit at Rs 244.25 crore in Q2. Net Premium Income was up 5 per cent at Rs 10,022 crore.
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Zensar Technologies: Net profit zoomed 206.3 per cent YoY to Rs 173.9 crore in Q2FY24. Total income, however, was up 0.5 per cent YoY at Rs 1,240.80 crore.
IndiGo: The airline has established over 20 international flights across Central and Southeast Asia, Africa, and the Middle East in the past six months. IndiGo now has a network connecting 32 international destinations.
Glenmark Pharmaceuticals: Received final approval from the United States Food and Drug Administration (USFDA) for Apremilast Tablets, available in 10 mg, 20 mg, and 30 mg strengths. These tablets serve as the generic version of Amgen Inc.’s renowned Otezla. According to IQVIA annual sales data, Otezla Tablets generated annual sales of approximately $3.7 billion as of August 2023.
IDFC, IDFC First Bank: The Fair trade regulator Competition Commission of India (CCI) on Tuesday approved the merger of IDFC with IDFC FIRST Bank.
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