Trading Radar For July 18: RIL, Wipro, Axis Bank, Vedanta, Jio Financial And Lupin Are On The Watchlist

Indian equity markets declined for a fifth time in seven sessions on Thursday, dragged down by IT and financial stocks.

The markets remain rangebound and are expected to open flat to slightly negative on Friday, despite firmer global cues. The Gift Nifty, an early indicator of the Nifty50 index, was down 0.12% at 25,182.

Ahead of Friday’s session, here are the stocks to watch:

Results today: Reliance, JSW Steel, Bandhan Bank, Aarti Drugs, Atul, Hindustan Zinc, IndiaMART, Indian Overseas Bank, and L&T Finance, among others.

Earnings Impact

Wipro: Reported a 9.9% rise in profit to ₹3,336.5 crore and a 0.8% increase in revenue to ₹22,134.6 crore, with IT Services EBIT growing 5.8% and margin expanding to 17.27%.

Axis Bank: Posted a 3.8% drop in profit to ₹5,806.1 crore, while gross NPA rose to 1.57% from 1.28% sequentially.

Jio Financial Services: Saw profit grow 3.8% to ₹324.7 crore and revenue surge 46.6% to ₹612.5 crore.

LTIMindtree: Reported a 10.6% increase in profit to ₹1,254 crore and 7.6% revenue growth to ₹9,840.6 crore, though EBIT margin declined to 14.3%.

Tata Communications: Reported a 42.9% drop in profit to ₹190.1 crore, while revenue increased 6.6% to ₹5,960 crore. The board approved the NCD issue of ₹1,000 crore.

CEAT: Posted a 27% decline in profit to ₹112.5 crore while revenue grew 10.5% to ₹3,529.4 crore. The board also approved a capex of ₹450 crore for its Chennai plant.

Indian Hotels Company: Reported a 19.3% increase in profit to ₹296.4 crore and a 31.7% rise in revenue to ₹2,041.1 crore.

Route Mobile: Profit declined 27.6% to ₹58.8 crore while revenue fell 4.8% to ₹1,050.8 crore.

Sunteck Realty: Posted a 46.7% jump in profit to ₹33.4 crore despite a 40.5% decline in revenue to ₹188.3 crore.

Shoppers Stop: Narrowed its quarterly loss to ₹15.74 crore while revenue grew 8.6% to ₹1,161.1 crore.

360 ONE WAM: Reported a 16.8% rise in profit to ₹284.7 crore with revenue up 7.3% to ₹911.5 crore.

Clean Science and Technology: Profit up 6.3% to ₹70 crore and revenue increased 8.4% to ₹242.9 crore.

Nuvoco Vistas: Reported a surge in profit to ₹133.2 crore from ₹2.84 crore, with revenue growing 9% to ₹2,872.7 crore.

Stocks to Watch

Vedanta: In a fresh report, US short seller, Viceroy alleges the company violated the agreement with the government by unjustly collecting ‘brand fees’ from Hindustan Zinc.

Lupin: The US FDA inspected its Pithampur Unit-3 and Unit-2 facilities between July 7 and 17 and issued Form 483s with three and four observations, respectively.

Bajaj Auto: Unit Bajaj Auto Credit approved fresh issuance limits of NCDs of ₹5,000 crore, commercial papers of ₹3,000 crore, and Tier-2 debt of ₹750 crore.

Mahindra & Mahindra: Will fully subscribe to Mahindra Logistics’ ₹749 crore rights issue at ₹277 per share, including any unsubscribed portion.

ONGC: Signed a strategic MoU with BP to jointly explore drilling in India’s Category II and III offshore sedimentary basins, including Andaman, Mahanadi, Saurashtra, and Bengal.

AWL Agri Business: Adani Group to fully exit its stake for ₹10,874 crore, resulting in Wilmar International holding a 64% stake and ending their longstanding joint venture.

Inox Wind: Received board approval to raise up to ₹1,250 crore via a rights issue.

ArcelorMittal Nippon Steel India: Commissioned a new continuous galvanising line at its Hazira plant as part of its ongoing ₹60,000 crore expansion project.

Tracxn Technologies: Revised its buyback price to ₹75 per share and reduced the maximum number of shares to 10.67 lakh (0.99% equity).

IndoStar Capital Finance: Completed the ₹1,705.95 crore sale of Niwas Housing Finance to Witkopeend B.V. and will use proceeds for core business growth.

Veranda Learning Solutions: Launched a QIP issue on July 17 with a floor price of ₹236.92 per share.

Results on Saturday: HDFC Bank, ICICI Bank, Union Bank of India, RBL Bank, Yes Bank, AU Small Finance Bank, Can Fin Homes, Central Bank of India, India Cements, JK Cement, and Reliance Power, among others.

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