Stocks to Watch Today: Jio Financial, Axis Bank, Wipro, RIL, Indian Hotels, LTIMindtree and Others

Stock markets ended lower on Thursday because IT stocks were sold off and investors were cautious ahead of the results from US-India trade talks.

Today, Friday (July 18), several stocks will be in the spotlight because of recent company announcements and their April-June quarterly results. These updates could lead to big moves in their stock prices, so traders and investors should pay close attention.

Q1 Results Declared On July 17:

Axis Bank: The bank's profit fell by 4% in the April-June quarter, earning Rs 5,806 crore. However, its interest income went up slightly by 0.8% to Rs 13,560 crore.

LTI Mindtree: This L&T group IT company showed strong results. Its profit rose 11.2% from the previous quarter, reaching Rs 1,255 crore. Revenue increased by 0.7% to Rs 9,840 crore. Year-on-year (YoY), profit grew 11% and revenue went up 8%.

Wipro Ltd: The major IT firm reported steady results for the June quarter, with revenue of Rs 22,087 crore.
Jio Financial Services: The Mukesh Ambani-led company reported a 4% rise in profit to Rs 325 crore for the first quarter. Revenue jumped by 46.6%. The results were shared after market hours on July 17.

Tech Mahindra: The company's stock fell more than 2% on Thursday after it reported a drop in profit for the June quarter compared to the previous one.

Results Today (July 18):

Several companies will announce their quarterly results today, including Reliance Industries, JSW Steel, Bandhan Bank, Aarti Drugs, Atul, Hindustan Zinc, IndiaMART InterMESH, Indian Overseas Bank, L&T Finance, Mahindra EPC Irrigation, Mastek, Mangalore Refinery and Petrochemicals, and Indosolar.

Dividends:

Kotak Mahindra Bank, HCL Technologies, Bharti Airtel, Cummins India, Dabur India, Jubilant FoodWorks, Aegis Logistics, Afcons Infrastructure, ASK Automotive, AstraZeneca Pharma, Bajaj Electricals, Blue Star and many more will be trading e-x dividend today.

Deal Announcements:

Godrej Properties: Godrej Properties, one of India's top real estate companies, has bought about 48 acres of land in Doddaballapur, North Bengaluru. This area is growing quickly, and the new land deal will help the company strengthen its presence in that part of the city.

Adani Wilmar: The Adani Group has sold 20% of its stake in AWL Agri Business Ltd (previously called Adani Wilmar Ltd) to Wilmar International, a company based in Singapore. The deal is worth Rs 7,150 crore. This move is part of Adani Group's plan to exit the fast-moving consumer goods (FMCG) sector and focus more on infrastructure-related businesses.

Emami Ltd: Emami, a well-known FMCG company, announced that it will convert its existing loans into equity and also invest more money in its associate company, Cannis Lupus Services. This is part of Emami's long-term strategy to support future growth.

HUDCO (Housing and Urban Development Corporation Ltd): HUDCO plans to raise up to Rs 3,000 crore by issuing non-convertible debentures (NCDs). These are a type of loan taken from investors, which cannot be converted into shares.

Hexaware Technologies: IT company Hexaware has bought 100% of a company called SMC Squared for $120 million (about Rs 1,029 crore). This is an all-cash deal. The goal is to expand Hexaware's services in the area of global capability centres (GCCs), which are offshore units that support international businesses.

Kalpataru Projects International Ltd (KPIL): KPIL has received new orders worth Rs 2,293 crore. These contracts were secured with the help of its international subsidiaries and are expected to boost the company's project pipeline.

Bajaj Auto: Bajaj Auto Credit Ltd., a subsidiary of Bajaj Auto, has approved plans to raise funds for its business and future growth. The company will raise up to Rs 5,000 crore through non-convertible debentures, increase its commercial paper limit to Rs 3,000 crore, and set a limit of Rs 750 crore for issuing subordinated debt, which is a type of loan that is paid back after other debts in case of default. These steps will help strengthen the company's financial position and support its expansion plans.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.