Q2  earnings performance continues to be the focus for the markets.  All eyes would be on Axis Bank results along with Infosys as the tech bellwether raised revenue guidance for FY25. The QIP placement of Adani Enterprises is the other key stock that will be in focus.

Meanwhile, Indian markets ended Thursday’s trading session on a lower note. The Nifty 50 couldn’t defend 24,800 closing the session 0.89% lower at 24,750 while the Sensex ended the session 495 points or 0.61% lower at 81,007. The Bank Nifty concluded today’s session 512 points or 0.99% lower at 51,289.

“Continued foreign outflows and weak Asian market cues after fresh Chinese support measures failed to enthuse investors also led to weak sentiment. Among sectors, Realty and Auto are the worst performing sectors. IT is the only major sector to post gains on strong earnings announcements from Mphasis,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.

Stocks to watch for October 18

Axis Bank 

Axis Bank reported an 18% increase on-year in its net profit in Q2 FY25 standing at Rs 6,918 crore against Rs 5,864 crore posted in the same quarter a year ago. Its net interest income of came in at Rs 13,483 crore, up 9% on year. However, its net interest margin fell by 6 bps to 3.99% compared to 4.05% sequentially, and 4.11% a year ago in the same quarter.

Adani Enterprises 

Adani Enterprises has raised Rs 4,200 crore by allocating 1.41 crore shares to large investors via a qualified institutional placement (QIP) placement to fund its future growth plans. The company allocated equity shares at an issue price of Rs 2,962 per equity share.

Infosys

The company reported a 4.7% on-year increase in its net profit at Rs 6,506 crore for Q2 FY25. It was up 2.2% quarter on quarter. Infosys raised its revenue guidance for FY25 to 3.75-4.5%, up from the 3-4% it guided in the first quarter of FY25.

Wipro

Wipro’s net profit rose 21.3% on-year to Rs 3,201 crore for the second quarter of FY25. Sequentially, the company’s net profit rose 6.8%. The company’s revenue for the quarter came in at Rs 22,300 crore, a fall of 1% on year. 

Zomato

Zomato’s board of directors will consider raising funds through a qualified institutions placement (QIP) on October 22, the company said in a regulatory filing on Thursday. However, the company did not disclose the quantum of funding it is looking to raise.

Earnings Tomorrow

Jio Financial Services, TATA Consumer Products, Oberoi Realty, L&T Finance, Mangalore Refinery and Petrochemicals, Tejas Networks, Zee Entertainment Enterprises, Mastek, Kesoram Industries, Raghav Productivity Enhancers, KSolves India, Onward Technologies, Sarveshwar Foods, Manba Finance, Ponni Sugars (Erode), Supreme Infrastructure India, Tree House Education and Accessories, ST Corporation, Roselabs Finance, VB Desai Finance, Hindustan Zinc, ICICI Lombard General Insurance Company, Jindal Saw, Elecon Engineering Company, Ganesh Housing Corporation, Indostar Capital Finance, GNA Axles, India Motor Parts and Accessories, Best Agrolife, Benares Hotels, Ashapuri Gold Ornament, Duncan Engineering, IBL Finance, Indbank Housing, Impex Ferro Tech, IB Infotech Enterprises, Darshan Orna, Integrated Proteins, FGP, Continental Controls, Aether Industries, Amal, Advik Capital, and Ace Men Engg Works Limited will be releasing their quarterly results on October 18.