Stocks in News: These stocks including Infosys, Zomato, Nazara Tech, Asian Paints will remain in focus, action will be seen today

Stocks in Focus Today : Today i.e. on 18th July 2024, some stocks (stocks in news) are ready to show action. Due to positive triggers, these stocks can remain in focus in the market today (stocks to watch). If you are looking for better stocks in intraday, then you can keep an eye on these (Stocks in Focus). Today’s list includes stocks like Infosys, LTIMindtree, IREDA, Nazara Tech, Asian Paints, L&T Finance, Tata Power, Zomato, Adani Enterprises, Bajaj Finance, ONGC, Adani Green Enery, Paytm, Aditya Birla Money, Alok Industries, L&T Technology, Tata Tech, Persistent Systems, Dalmia Bharat, Ceat, Havells India, JSW Infra, Polycab India, Tata Communications.

Infosys results today

Today, on July 18, 2024, the quarterly results of IT sector giant Infosys will be released. At the same time, the results of L&T Tech, Tata Tech, Persistent Systems, Dalmia Bharat, Ceat, Havells India, Central Bank of India, JSW Infrastructure, Mastek, Polycab India and Rallis India will also be released today.

LTIMindtree

IT company LTI Mindtree’s profit for the first quarter of the current financial year ending in June has declined by 1.5 percent to Rs 1135 crore. During the quarter, the company’s revenue grew by 5.1 percent to Rs 9,142.6 crore. However, on an annual basis, the company’s operating profit margin declined to 15 percent from 16.7 percent in the same period a year ago.

IREDA

Public sector company Indian Renewable Energy Development Agency Limited (IREDA) will invest Rs 290 crore in a 900 MW hydro electric power project in Nepal. IREDA said in a statement that its board of directors has given in-principle approval to this investment in a meeting held on Tuesday. The company will take 10 percent stake in the ‘Upper Karnali Hydro-Electric Power Project’.

Nazara Tech

Two subsidiary companies of Nazara Technologies have received notices for GST demand of about Rs 1,120 crore. Nazara Technologies said that OpenPlay Technologies has received a show cause notice from the Director General of GST Intelligence, Kolkata for a liability of Rs 845.72 crore. While another subsidiary company Halaplay Technologies has received a notice for a liability of Rs 274.21 crore.

Asian Paints

Asian Paints Limited’s profit for the first quarter ended June fell by 24.64 per cent to Rs 1186.79 crore. The company’s profit has declined due to the decrease in demand due to severe heat and general elections. The company had earned a profit of Rs 1574.84 crore in the same period of the previous financial year 2023-24. The company’s operating income declined to Rs 8,969.73 crore, from Rs 9,182.31 crore in the same quarter a year ago.

L&T Finance

L&T Finance Limited (LTF), one of India’s leading NBFCs, has reported a record profit of Rs 686 crore for the quarter ended June 30, 2024 (Q1 FY25), up 29 per cent year-on-year. The company has recorded quarterly retail disbursements of Rs 14,839 crore for the first quarter ended June 30, 2024, up 33 per cent year-on-year. The company’s retail book size reached Rs 84,444 crore during the June quarter, showing a growth of 31 per cent year-on-year.

Zomato

Motilal Oswal Mutual Fund sold its stake in online food delivery company Zomato for Rs 646 crore through open market transactions. According to data available about bulk deals on the National Stock Exchange (NSE), Motilal Oswal Mutual Fund (MF) sold more than 2.84 crore shares or 0.3 per cent stake in Gurugram-based Zomato through open market transactions. These shares were settled at an average price of Rs 226.85 per share.