Infosys, Paytm, Voda Idea, Bajaj Auto, Zee, Ambuja Cements, and Other Stocks to Monitor

Investing Ideas On April 18, the equity markets continued their downward trend and lost more than half a percent, following the current corrective action. Due to a variety of news events and results, shares of Infosys, Bajaj Auto, HDFC Life, Tata Communications, and Angel One, among others, will be the subject of attention in today’s session.

Findings for today: Among the well-known businesses set to release their March quarter profits today are Bajaj Auto, Infosys, HDFC Life, ICICI Securities, Mastek, Network 18, Orient Hotels, RS Software, and TV18 Broadcast.

Infosys: According to experts, the IT giant’s revenue growth for the January–March quarter is predicted to be in the lower single digits due to a decline in discretionary spending and a smaller contribution from big transactions.

Prior to the commencement of its Rs 18,000 crore follow-on public offer (FPO), Voda Idea (Vi) had distributed 4.9 billion shares to anchor investors at the highest price point of the FPO, which was Rs 11 per share. This move has raised Rs 5,400 crore due to strong investor demand.

ICICI Lombard: The company’s net profit for Q4FY24 increased 18.9% YoY to Rs 519.50 crore from Rs 436.96 crore in Q4FY23, mainly due to strong growth in investment and premium income.

Tata Communications: Compared to Rs 326.64 crore during the same time last year, Q4 consolidated net profit decreased slightly to Rs 321.55 crore for the fourth quarter that ended on March 20, 2024. The total income increased by 24.5% year over year to Rs 5,691.70 crore.

Paytm: The fintech business denied rumors, saying it had not been notified of any delays in processing its subsidiary Paytm Payment Services’ (PPSL) license application or related fines because of worries about Chinese ownership of the parent company.

Zee Entertainment: The media behemoth revealed its reorganized organizational structure on Wednesday, with Punit Goenka taking direct control of many important verticals, including the domestic broadcasting division. Zee’s four main business sectors under the new arrangement are broadcast, digital, movies, and music.

Ambuja Cements: The Adani family increased their ownership of the cement business to 70.3% on Wednesday by converting the last tranche of warrants granted for the company and spending an additional Rs 8,339 crore.

Angel One’s net profit for Q4 FY25 climbed 27% YoY to Rs 340 crore as increasing trading activity more than offset higher customer acquisition costs. To Rs 1,357 crore, consolidated revenue increased by 65% year over year.

IIFL Finance: In the midst of the ongoing prohibition on its gold lending business, the board of IIFL Finance authorized a rights issue at a rate of one equity share for every nine equity shares, valued at Rs 300 per share.