Indian stock markets dropped again on Thursday due to concerns about global tensions. The Sensex fell by 454.69 points, or 0.62 percent, closing at 72,488.99. The Nifty also decreased by 152.05 points, or 0.69 percent, ending at 21,995.85. Here are some stocks to watch before Friday's opening bell on April 19, 2024:
Today, several companies like Jio Financial Services, Wipro, Hindustan Zinc, HDFC Asset Management Company, Elecon Engineering Company, KP Green Engineering, Benares Hotels, Rajnish Wellness, Sejal Glass, Amal, Rajnish Retail, and Roselabs Finance will reveal their financial performance for the March 2024 quarter.
Infosys: the second-largest IT services company in the country, made a profit of Rs 7,969 crore for the March 2024 quarter, which is 30.5 percent higher compared to the same period last year. However, their revenue from operations decreased by 2.3 percent compared to the previous quarter, totaling Rs 37,923 crore. Revenue in dollar terms also went down by 2.1 percent.
Bajaj Auto: A company based in Pune that makes two and three-wheelers, announced a standalone net profit of Rs 1,936 crore for the March 2024 quarter, which is 35 percent higher compared to last year. Revenue from operations also went up by 29 percent during the same period, reaching Rs 11,485 crore. Additionally, sales volume grew by 24 percent, totaling 10.62 lakh units.
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ITC: A company owned entirely by the FMCG major, has agreed to buy all the shares of Blazeclan Technologies, a cloud services provider, for Rs 485 crore. This acquisition is expected to be finalized within 6 to 8 weeks.
Federal Bank: A private sector lender got approval from the Reserve Bank of India (RBI) to open a representative office in Saudi Arabia. However, this approval still needs further clearance from the Saudi Arabian authorities.
ICICI Securities: The broking firm, announced a consolidated net profit of Rs 536.5 crore for the quarter ending March FY24, which is a 104.3 percent increase compared to last year. They had a strong performance in both revenue and operations, with revenue growing by 74.4 percent to Rs 1,543.2 crore compared to the same period last year.
Rail Vikas Nigam: The railway company, has signed an agreement with Turkish Engineering Consulting & Contracting (TUMAS India) to work together on public transportation and infrastructure projects in India.
Landmark Cars: The automobile retailer reported revenue of Rs 1,311 crore for the quarter ending March 31, 2024, which is 8.2 percent higher than last year. Vehicle sales reached Rs 1,049 crore for the quarter, marking a 3.55 percent increase compared to the previous year.
Gokaldas Exports: The garments company began its qualified institution placement (QIP) issue on April 18. They set the floor price at Rs. 789.99 per share with plans to raise around Rs 600 crore through QIP, according to media reports.
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