Stocks to Watch: Wipro, Biocon, IndiGo, Bajaj Finance, Glenmark, HUDCO and others

by MMC
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Stocks to watch on October 19: GIFT Nifty on the NSE IX was trading 24.5 points, or 0.12 per cent, lower at 19,787, signaling that Dalal Street was heading for a negative start on Wednesday. Here is a series of stocks that will be the center of attention today for various reasons.

Second quarter results to watch: Wipro, 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 some of the major companies expected to announce September quarter results today.

Biocon: The Company’s Biocon Biologics subsidiary received communication from the U.S. Food and Drug Administration (FDA) following its July 2023 cGMP inspection at its insulin manufacturing facility in Johor, Malaysia. The FDA has determined the inspection classification as “OAI” (Official Action Indicated). OAI status may result in delay and/or denial of pending product approvals or supplements by the institution.

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

Bajaj Finance: Reported 28% YoY (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Net interest income (NIIT) grew 26% year-on-year to Rs 8,845 crore.

L&T Technology Services (LTTS): Net profit increased 5.1 percent to Rs 315.4 crore for the second quarter (Q2) of FY24. Operating revenue increased 4.6 percent year-on-year to Rs 2 386.50 crore.

ICICI prudential life insurance: Reported a 22.4% year-on-year increase in net profit to Rs 244.25 crore in the second quarter. Net premium income increased by 5 per cent to Rs 10,022 crore.

Zensar Technologies: Net profit soared 206.3% year-on-year to Rs 173.9 crore in Q2FY24. Total revenue, however, rose 0.5 percent year-on-year to Rs 1,240.80 crore.

Indigo: The airline has established more than 20 international flights across Central and Southeast Asia, Africa and the Middle East over 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 are the generic version of the famous Otezla from Amgen Inc. According to annual sales data from IQVIA, Otezla tablets generated annual sales of approximately $3.7 billion as of August 2023.

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