Axis Bank to Infosys: Stocks to watch on October 18, 2024
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Infosys
Infosys raises its FY25 sales forecast to 3.75-4.5%, indicating a demand revival. Q2 net profit is Rs 6,506 crore, reflecting a 4.7% year-on-year increase.
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Axis Bank
Axis Bank's Q2 net profit rose 18% to Rs 6,918 crore. Asset quality improved, with a gross NPA ratio of 1.44%.
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Bharat Forge
Bharat Forge has acquired AAM India Manufacturing for Rs 544.5 crore, bolstering its position in the commercial vehicle axle sector and expanding its offerings.
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Zomato
Zomato's board will consider raising funds through a QIP on October 22. This decision follows a solid Q1 FY25 performance, where the company reported a profit of Rs 253 crore.
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Adani Enterprises
Adani Enterprises raised Rs 4,200 crore through a QIP, oversubscribed by 4.2 times. The funds will be used for capital expenses and debt repayment.
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Reliance Industries
Reliance Industries forms a joint venture with Mothercare, acquiring a 51% stake for £16 million to strengthen its market presence in South Asia.
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HDFC Securities
HDFC Securities launches HDFC Tru to enter the wealth advisory market, focusing on high-net-worth individuals and family offices in smaller cities.