Stocks to watch, July 17: Jio Financial, RIL, Wipro, TechM, CEAT, ITI, Federal Bank, WeWork India

The domestic stock market is expected to open lower on Friday, July 17. The GIFT NIFTY futures suggest that the NIFTY50 index will open around 14 points lower.

According to the company's press release, the IT major reported gross revenue of ₹24,480 crore, up 1% quarter-on-quarter (QoQ) and 10.6% year-on-year (YoY).

Its IT services revenue stood at $2.61 billion, declining 1.4% QoQ but rising 1% YoY. In constant currency (CC) terms, IT services revenue fell 1.2% sequentially while increasing 0.9% from a year ago.

India's fifth-largest IT services firm said growth in the June quarter was broad-based, led by manufacturing and financial services, with strong momentum also in healthcare and retail. Tech Mahindra management expressed confidence about a "sustained" performance through the rest of the year, provided the macroeconomic situation does not change dramatically.

The company said its strong order book, long-standing client relationships and robust first-quarter performance give it confidence in sustaining growth through the remainder of the year and outperforming the peer average.

The new agreement builds on the companies’ previously announced partnership and expands their collaboration to advance Guardian’s AI-powered modernization across technology and operations to support long-term business growth, the press release added.

The transaction is part of the second tranche of Physicswallah's acquisition of Guiding Light Education Technologies, which operates under the Sarrthi IAS brand name, according to a regulatory filing.

Physicswallah earlier held a 40% stake in Guiding Light Education Technologies.

"The present acquisition pertains to Tranche II under the Transaction Documents... Upon completion of the acquisition, the company's shareholding will increase from 40% to 51%, consequent to which Sarrthi IAS will become a subsidiary of the company," the filing said.

Physicswallah had announced plans to raise its stake to 85% in Sarrthi IAS in six tranches during the financial years 2026 to 2031.

The company had posted a net loss of ₹14.10 crore in the year-ago period.

Its total income rose to ₹700.74 crore during the April-June quarter of this fiscal from ₹545.71 crore in the corresponding period of the preceding year, according to a regulatory filing.

The operational expenditure increased to ₹704.77 crore from ₹559.46 crore during the period under review.

WeWork India is one of the leading coworking firms in the country.

ITI Limited has already executed a 4G telecom gear order worth ₹2,640 crore with TCS as a consortium partner for BSNL West Zone, comprising Maharashtra, Goa, Gujarat, Chhattisgarh, Madhya Pradesh and Mumbai LSA, it added.

"ITI Limited has recently received a work order for the expansion of 4G Mobile Network in West India from Bharat Sanchar Nigam Limited (BSNL) for a total value of ₹856.39 crore," the company said.

ITI said the scope of work includes planning, engineering, supply, installation, testing and commissioning of 4G mobile network on a turnkey basis for 7,613 sites in the West Zone.

The company had posted a standalone net profit of ₹135 crore in the first quarter of FY2025-26, according to a regulatory filing.

Revenue from operations was at around ₹4,163 crore in the June quarter, up 18% from ₹3,521 crore seen in the first quarter of FY26.

The company said its Board of Directors has approved a ₹1,205 crore investment plan for capacity expansion in the two-wheeler segment to support future growth opportunities.

The company plans to add capacity by 53,000 tyres per day in a phased manner by FY 2031, up from the current 80,000 tyres per day, it said.

The company had earned a consolidated net profit of ₹325 crore in the same quarter a year ago.

The company's total income rose more than three times to $2,005 crore as against ₹619 crore in the June quarter of the previous year, JFSL said in a regulatory filing.

Interest income expanded to ₹962 crore as compared to ₹363 crore seen in the same period a year ago.

Total expenses increased to ₹1,016 crore from ₹261 crore in the same quarter of last year.

Jio Financial Services, carved out from Reliance Industries Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.

The car in the case was an E20-compatible car, fully equipped to handle E20 fuel, and there is evidence of contamination in the fuel collected from the customer's vehicle, Maruti Suzuki India said in a statement.

"We have learnt of an order by the District Consumer Disputes Redressal Commission, Raipur, wherein Maruti Suzuki has been directed to replace the customer's vehicle with a new E20-compatible vehicle," it said.

Under the integration, establishments can initiate PF payments on the EPFO portal and complete the transactions through Bandhan Bank's internet banking platform, the lender said in a statement.

The service provides real-time transaction confirmations and instant challan downloads, allowing faster processing and improved operational efficiency.

The bank said the facility is aimed at helping businesses streamline statutory payments, optimise cash flows and ensure timely compliance with EPFO requirements.