Stocks to Track on July 18: Wipro, LTIMindtree, Bandhan Bank, Axis Bank, Bharat Forge & more

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Domestic equity benchmarks halted a two-day winning run on Thursday amid weakness in IT, financial and oil & has shares though strength in metal stocks lent some support, preventing the gauges from deeper cuts. The Sensex fell 375.2 points, or 0.5 per cent, to 82,259.2 while the Nifty 50 gave up 100.6 points, or 0.4 per cent, to settle at 25,111.5. As market participants await the next trading session on Dalal Street, here are a number of stocks set to be in focus on Friday, July 18.

Corporate Results

JSW Steel, Reliance Industries, L&T Financial Services, Bandhan Bank, and Hindustan Zinc (HZL) are among nearly 30 companies scheduled to report their financial results for the April–June period.

Ashok Leyland

The commercial vehicle (CV) maker is set to list 293 crore equity shares under a bonus issuance.

Samvardhana Motherson, Motherson Sumi Wiring, and IFGL Refractories shares are set to trade ex-bonus at the opening bell. At the same time, Bharti Airtel, Kotak Mahindra Bank, HCLTech, Birlasoft, Cummins India, and Blue Star stocks are scheduled to go ex-dividend.

Axis Bank

The private sector lender has reported a weaker-than-expected set of financial results as high provisions dented its profitability in the June quarter.

Wipro

The IT major has reported a mixed bag of quarterly results, with both revenue and net profit meeting estimates, but margins falling short.

The company’s attrition rate increased by 10 basis points to 15.1 per cent. It declared a dividend of Rs 5 per share.

LTIMindtree

The company has delivered a decent set of financial results, with an 11 per cent sequential growth in net profit to Rs 1,254 crore.

Bharat Forge

The company’s subsidiary, Kalyani Strategic Systems, has formed a joint venture called Aegis Advanced Systems SL in Spain with Duma Engineering Group.

Inox Wind

The company’s board has approved a proposal to raise up to Rs 1,250 crore through equity or rights issuance.

Ceat

The tyre maker is set to invest Rs 450 crore in a plant located in Chennai.

The facility will boost its tyre production capacity by 80 per cent.

The project is scheduled to be completed by FY27.

Paytm

One 97 Communications, the parent company of digital payments platform Paytm, has established a subsidiary in Saudi Arabia named Paytm Cloud Technologies.