Stocks to Watch today: Bajaj Finance, LTTS, Zensar, HUDCO, Glenmark, Biocon

Stocks to watch on Wednesday, October 18, 2023: Bajaj Auto, Bandhan Bank, IndusInd Bank, LTIMindtree and Wipro to be in focus ahead of Q2 results today.

Stocks to Watch on Wednesday, October 18, 2023: Indian benchmark equity indices are likely to start Wednesday’s trade on a tepid note in the backdrop of a fresh spike in US bond yields and Crude oil prices.

The US 10-year Treasury yields surged to 4.86 per cent last night, while Brent Crude was seen quoting above $91 per barrel this morning.

At 07:00 AM, Gift Nifty futures quoted around 19,783 as against the spot Nifty close of 19,812 yesterday.

Meanwhile, here are the stocks that are likely to be in focus on Wednesday. 

Q2 Results to Watch: Astral, Bajaj Auto, Bandhan Bank, ICICI Lombard General Insurance, IIFL, IndusInd Bank, LTIMindtree, OFSS, Persistent Systems, Polycab Technologies, Shoppers Stop, Titagarh Rail Systems, UTI AMC and Wipro are few of the prominent companies scheduled to announce September quarter earnings today.

Biocon: The company's a step-down subsidiary of Biocon Biologics has received a communication from the US Food and Drug Administration (FDA) pursuant to its July 2023 cGMP inspection at its insulins manufacturing facility at Johor, Malaysia. The FDA has determined the inspection classification as 'OAI' (Official Action Indicated). The OAI status may cause delay and/ or withholding of pending product approvals or supplements from the facility.

Hudco: The government plans to offload 7 per cent in Housing Urban Development Corpo­ration (Hudco) through the offer for sale (OFS) route on Wednesday. It has put on the block a total of 140 million shares at a floor price of Rs 79 per share. 

Bajaj Finance: Reported a 28 per cent year-on-year (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Net Interest Income (NIIT) expanded by 26 per cent YoY to Rs 8,845 crore. READ MORE

L&T Technology Services (LTTS): Net profit grew 5.1 per cent to Rs 315.4 crore for the second quarter (Q2) of FY24. Revenue from operations rose by 4.6 per cent to YoY to Rs 2,386.50 crore. 

ICICI Prudential Life Insurance: Posted a 22.4 per cent YoY increase in net profit at Rs 244.25 crore in Q2. Net Premium Income was up 5 per cent at Rs 10,022 crore.

Zensar Technologies: Net profit zoomed 206.3 per cent YoY to Rs 173.9 crore in Q2FY24. Total income, however, was up 0.5 per cent YoY at Rs 1,240.80 crore.

IndiGo: The airline has established over 20 international flights across Central and Southeast Asia, Africa, and the Middle East in the past six months. IndiGo now has a network connecting 32 international destinations.

Glenmark Pharmaceuticals: Received final approval from the United States Food and Drug Administration (USFDA) for Apremilast Tablets, available in 10 mg, 20 mg, and 30 mg strengths. These tablets serve as the generic version of Amgen Inc.'s renowned Otezla. According to IQVIA annual sales data, Otezla Tablets generated annual sales of approximately $3.7 billion as of August 2023.

CIE Automotive: Net profit more-than-doubled to Rs 375.42 crore for the quarter ended September 2023 when compared with Rs 171.37 crore in the year ago period. Total income was up 2.5 per cent YoY at Rs 2,299.43 crore.

Himadri Speciality Chemical: Q2 net soared 180.4 per cent YoY to Rs 100.62 crore for the quarter ended September 2023. Total income, however, declined 5 per cent to Rs 1,014.34 crore.

Can Fin Homes: Reported a 11.5 per cent YoY growth in Q2FY24 net profit at Rs 158.07 crore, while total income surged 32.5 per cent to Rs 871.04 crore.

Syngene International: Net profit rose 14.2 per cent YoY to Rs 116.50 crore in Q2FY24. Total income advanced 18.9 per cent to Rs 931.70 crore.

Happiest Minds: Net profit slipped 1.6 per cent YoY to Rs 58.46 crore in Q2FY24. Total income, however, rose 19.3 per cent to Rs 428.83 crore.

Vikas Lifecare: Net profit soared 188.5 per cent YoY to Rs 7.18 crore in Q2FY24. Total income, however was down 14.6 per cent at Rs 110.60 crore.

Lotus Chocolate: Q2 net loss narrowed to Rs 0.74 crore in the quarter ended September 2023 from Rs 1.24 crore in the year ago period. Total income surged 74.8 per cent YoY to Rs 29.11 crore.

IDFC, IDFC First Bank: The Fair trade regulator Competition Commission of India (CCI) on Tuesday approved the merger of IDFC with IDFC FIRST Bank.

Stocks in F&O ban today: Balrampur Chini, BHEL, Delta Corporation, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cement, Manappuram Finance, MCX and SAIL are in futures & options ban period on Wednesday.