Wipro, Infosys, Jio Financial, Hindustan Zinc, ITC, Tata Motors, and Other Stocks to Monitor

equities to monitor on April 19: On Thursday, the equity markets saw extreme volatility and pressure for the fourth day in a row as a result of persistent geopolitical worries. Due to a number of news events, shares of Infosys, Wipro, Bajaj Auto, Jio Financial, HDFC AMC, and Hindustan Zinc will be closely watched in today’s trading.

Today’s results include those for Elecon Engineering, Jio Financials, Hindustan Zinc, HDFC AMC, and Wipro.

On Saturday, the March quarter results are expected to be released by Alok Industries, HDFC Bank, Ind Bank Housing, International Travel House, Sterling, and Wilson Renewable Energy.

Infosys: Compared to Rs 6,128 crore recorded during the same time last year, the IT giant announced a 30% YoY increase in total net profit of Rs 7,969 crore for the March 2024 quarter. The total income increased by 1.3% to Rs 37,923 crore from Rs 37,441 crore.

Bajaj Auto: Driven by a 30% increase in sales to Rs 11,249.8 crore, consolidated net profit increased 18% YoY to Rs 2,011.43 crore. The board of Bajaj Auto has suggested a dividend of Rs 80 per share. Nevertheless, sales and profit decreased by 5% on a stand-alone basis.

HDFC Life: Net profit for Q4FY24 increased 14.7% YoY to Rs 411.66 crore from Rs 358.66 crore in Q4FY23. Following the loss of tax incentives on high-value life insurance policies, the value of new business (VNB) margin fell to 26.10 percent during the reporting quarter from 29.30 percent due to the high base impact.

ICICI Securities: The company reported a twofold increase in profit after tax, from Rs 263 crore in Q4 FY23 to Rs 537 crore in Q4 FY24. From Rs 885 crore to Rs 1,544 crore, the total income increased by 74% year over year.

Tata Motors: Under a new government initiative that reduces import duties for businesses willing to establish local manufacturing, the Tata Group auto giant intends to import its Jaguar Land Rover (JLR) premium electric automobiles. Under a March regulation, import tariffs on select EV models are reduced from 100% to 15% if an automaker spends at least $500 million and establishes local manufacturing within three years.

ITC: The company’s information technology division, ITC Infotech, has signed a share purchase agreement to buy all of the shares of Pune-based Blazeclan Technologies for a total of Rs 485 crore.

Vodafone Idea: Only after receiving a request from the firm will the government decide whether to convert more of Vodafone Idea’s current debt into equity.

SpiceJet: Due to a Rs 77 crore default, three aircraft lessors filed an insolvency petition against the low-cost airline at the National Company Law Tribunal (NCLT). The case has been postponed until May 30.