Research
Periodic Report
LTIMindtree’s 10.3% Profit Rise, Infosys Misses Expectations, Nestle’s Q3 Decline, Wipro’s 21% Gain, Bajaj Auto’s 13% Drop
LTIMindtree’s 10.3% Profit Rise, Infosys Misses Expectations, Nestle’s Q3 Decline, Wipro’s 21% Gain, Bajaj Auto’s 13% Drop
Written by - Fisdom Research
Array
October 17, 2024
2 minutes
Array
Market Snapshot
Indian stock market benchmarks- the Sensex and the Nifty 50- closed in negative territory for the third consecutive session on Thursday, October 17.
All sectoral indices, except IT (up 1%), ended in the red, with auto, media, and realty down 2-3%.
BSE midcap and smallcap indices declined over 1% each.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
1.2
NIFTY HEALTHCARE INDEX
-1.0
NIFTY PSU BANK
-0.5
NIFTY PRIVATE BANK
-1.1
NIFTY PHARMA
-0.9
NIFTY FINANCIAL SERVICES
-1.3
NIFTY BANK
-1.0
NIFTY OIL & GAS
-1.3
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,600
25,000-25,200
Bank Nifty
50,500
52,000
Top News
LTIMindtree’s Q2 FY25 net profit rose 10.3% sequentially to Rs 1,251.6 crore, with revenue up 3.2% to Rs 9,432.9 crore, driven by growth across verticals and strong deal momentum.
Infosys reported a 2.2% quarterly rise in net profit to Rs 6,506 crore, below market expectations. Revenue grew 4.2% to Rs 40,986 crore for the July-September period.
Nestle India’s stock fell nearly 4% as Q3 net profit dipped 0.94% to Rs 899.49 crore, impacted by high commodity costs and softer demand for key brands.
Wipro reported a 21% year-on-year increase in net profit to Rs 3,209 crore for the September quarter and announced a 1:1 bonus share issue.
Bajaj Auto shares fell over 13% after a lower-than-expected Q2 net profit and a reduced two-wheeler sales growth outlook in India to 5%, the lower end of its prior 5-8% estimate.
Deepak Builders and Engineers to launch IPO on October 21
Hyundai Motor India’s Rs 27,870 crore mega IPO is fully subscribed
Waaree Energies IPO to open for subscription on October 21
Focus Smallcase Updates
The Fisdom Prime Five Smallcase achieved approximately 12% returns over the four three months, Outperforming the key benchmark index consistently.
Trade Ideas Update
Our Trade Ideas success rate has 68% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
