Stocks To Watch Today: Wipro, IndusInd Bank, Tata Elxsi, Bajaj Auto & More

On Wednesday, 18th October, Wipro, IndusInd Bank, Happiest Minds Technologies, IIFL Sec, and L&T Technology Services are among the hot stocks that are likely to be in focus today.

Wipro

The IT giant is scheduled to release its Q2FY24 results today. Last week, the company successfully acquired a 9.95 percent shareholding in FPEL Ujwal, a corporation that develops, builds, and manages a portfolio of solar power assets. The purchasing price was Rs. 6.3 crore.

IndusInd Bank

The bank is scheduled to declare its quarterly results today for the quarter ended 30th September 2023. Hence the stock is likely to be in focus today.

Happiest Minds Technologies

By launching Generative AI Business Services (GBS) on Tuesday, Happiest Minds Technologies Limited made a major breakthrough in artificial intelligence (AI). The newly established unit will provide comprehensive Generative AI offerings across several domains. With immediate effect, Sridhar Mantha, who is currently the company's EVP and CTO, has been named President & CEO of GBS. He will report to Executive Board Member Rajiv Shah.

IIFL Securities

The firm said on Tuesday that its total income for the quarter was Rs 533.7 Cr (up 65% year on year) and for the half year was Rs 944.7 Cr (up 53% y-o-y). Assets under management and custody were Rs. 1,69,822 Cr in Q2FY24. Subject to shareholder and regulatory approval, the Board has authorised the appointment of Mr. Nemkumar H as a Whole-Time Director of the Company.

Syngene International

On Tuesday, Syngene International Limited released its financial results for the second quarter and the first half of the year. The reported revenue from operations for the quarter climbed by 18.5% YoY to Rs. 910 crores. The quarter's profit after tax grew by 20% YoY to Rs 122 crore. For the half year that ended on September 30, 2023, reported revenue from operations climbed by 22%, or around 17% in constant currency, and profit after tax (excluding extraordinary items), by 23%, to Rs 215 crores.

L&T Technology Services

The company's revenue in Q2FY24 was Rs 23,865 million, up 5% YoY and 4% QoQ, while its USD revenue was Rs 288.1 million, up 2% YoY and 3.2% QoQ in constant currency. EBIT margin for the company was 17.1%, and net profit was Rs. 3,154 million, up 5% YoY. An interim dividend of Rs. 17 per share has been announced by the corporation; the record date is October 27, 2023.

Tata Elxsi

The firm reported revenue from operations for Q2FY24 of Rs. 881.7 Cr, up 3.7% QoQ and 15.5% YoY, while revenue from operations on a constant currency basis climbed by 3.4% QoQ and 10.1% YoY. Operating margin was 29.9% during the quarter under review, net margin was 28.9%, and profit after tax was 200.0 Cr, up 5.9% quarter on quarter and 14.8% YoY. Operating revenue for the quarter ended on September 30, 2023, jumped by 15.5% YoY for the firm to Rs. 881.7 Cr.

Bajaj Auto

The auto company is scheduled to release its results today for the quarter ended September 30, 2023. In comparison to the 3,94,747 units sold in the same month last year, Bajaj Auto Ltd. recorded a 1% decrease in overall sales for the month of September 2023 to 3,92,558 units. From 2,54,664 units in September 2022 to 2,53,193 units in September 2023, the company's total domestic sales dropped.

Additionally, exports dropped 1% (YoY) to 1,39,365 units. According to a regulatory filing by Bajaj Auto, the company's two-wheeler sales in the month of September fell 6% to 3,27,712 units from 3,48,355 units in the same time the previous year. Sales of domestic two-wheelers dropped 9% YoY to 2,02,510 units from 2,22,912 units in the same period of previous year.