Infosys, Bajaj Auto, Wipro and Jio Financial services are key stocks to watch
Upstox
2 min read • Updated: April 19, 2024, 9:49 AM
Summary
Oil marketing companies are expected to react with deep cuts as oil prices trade nearly 3% higher internationally
Indian markets are expected to open with deep cuts as global markets crash on fresh escalations between Israel and Iran. Gold prices and oil prices are trading higher amid rising tensions. The global markets, too, are showing signs of deep pain across the board, with Asian markets falling over 3%.
Key Asian indices like Japan, Korea, and Hong Kong show a nearly 3% fall on Friday mornings. The Japanese Nikkei is trading 1300 points down, while Korean Kospi is trading 75 points down.
Key stocks to watch
Infosys reported a sequentially weak set of numbers and cut the revenue guidance for FY25. The company also reported a 30% rise in net profit led by interest income and tax gains. The company also announced a dividend of ₹28 per share.
Oil Marketing companies like BPCL, HPCL and IOC will remain in focus as Brent crude oil prices are trading 3% higher on Friday morning as tensions between Iran and Israel escalate.
Bajaj Auto reported a robust set of numbers led by a double 29% growth in revenue for Q4FY24. The company's consolidated net profit increased by 18% to ₹2,011 crore.
RVNL signed a memorandum of understanding (MoU) with a Turkish engineering and consulting company for partnership and collaboration for public transportation projects in Turkey.
Wipro, HDFC AMC, Hindustan Zinc, and Jio Financial Services will remain in focus ahead of their quarterly earnings announcement on Friday.