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  5. Stocks to watch on July 18: Infosys, Asian Paints, Tata Tech, Polycab, Havells and more

Market News

Stocks to watch on July 18: Infosys, Asian Paints, Tata Tech, Polycab, Havells and more

Upstox
By Upstox News Desk

3 min read | Updated on July 18, 2024, 08:56 IST

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SUMMARY

A host of companies such as Infosys, CEAT Ltd, Central Bank of India, Tata Technologies, Tata Communications, Havells, Polycab, Persistent Systems, Mastek, IndusInd Bank, among others are slated to release their June quarter results today.

Stock list

INFY
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ASIANPAINT
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LTIM
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IOC
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Stock-rise-shutterstock.webp

Stock-rise-shutterstock.webp

The domestic equities are expected to see a muted start on Wednesday, July 18, as indicated by GIFT NIFTY. At 07:21 AM, the index was trading 0.03% higher at 24,670.5 levels. Besides, a sharp sell-off in US tech shares in the overnight trade over rising trade tensions between US and China, too, are expected to weigh on investor sentiment.

Here is a list of stocks that may trade actively in today's session:
Earnings today: A host of companies such as Infosys, CEAT Ltd, Central Bank of India, Tata Technologies, Tata Communications, Havells, Polycab, Persistent Systems, Mastek, IndusInd Bank, among others are slated to release their June quarter results today.
Also Read: How to trade in Infosys ahead of its Q1 results?
Asian Paints: The paint major on Wednesday reported a 24.64% decline in consolidated net profit to ₹1,186.79 crore in the June quarter, hit by demand slowdown due to severe heatwave and general elections. The company had posted a consolidated net profit of ₹1,574.84 crore in the same period last fiscal year, Asian Paints said in a regulatory filing. Consolidated revenue from operations in the first quarter of the current fiscal was down at ₹8,969.73 crore as compared to ₹9,182.31 crore in the year-ago period, it added.
Read more: Asian Paints Q1 results: Net profit and revenue misses estimates
L&T Finance: NBFC firm L&T Finance on Tuesday reported a 29% rise in consolidated net profit to ₹686 crore for the first quarter ended June 2024 on the back of healthy interest income. The non-banking financial company had posted a net profit of ₹531 crore in the same quarter in the previous fiscal. Total income during the April-June period increased to ₹3,785 crore against ₹3,377 crore in the year-ago quarter, L&T Finance said in a regulatory filing.
LTIMindtree: The IT services company on Wednesday reported a 1.5% decline in net profit to ₹1,135 crore for the June quarter, mainly on lower profit margins. Its revenues grew 5.1% year-on-year to ₹9,142.6 crore, but the operating profit margin narrowed to 15% from 16.7% in the year-ago period. The company continues to aspire to get the operating profit margin into the 17-18% target which was shared at the time of the amalgamation, its MD and chief executive Debashis Chatterjee said, adding that it will take longer to reach the number.
Indian Oil Corporation (IOCL): The oil marketing company announced that it has issued 2.5 lakh unsecured, listed, rated, taxable, redeemable, non-convertible debentures worth ₹2,500 crore via private placement basis on 16 July 2024.
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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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