Axis Bank, Wipro, Tech Mahindra, Godrej Consumer Products, LTIMindtree stocks in focus

Axis Bank, Wipro, Tech Mahindra, Godrej Consumer Products, LTIMindtree stocks in focus

The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open in the green, as Nifty futures traded 57.5 points higher at 18,050 on the Singaporean exchange. Benchmark indices NSE Nifty and BSE Sensex added gains on Wednesday to end the session in green. Nifty 50 rose 101 points to 17,915 and Sensex climbed 348 points to 60,649.

“The domestic market is gradually shifting towards a positive terrain, supported by FIIs inflows and positive Q4 earnings from banks. On the global front, the US Q1 GDP number which will be unveiled today is anticipated to moderate on a QoQ basis amid concerns over banking contagion and a slowing economy. The next week’s FED policy will be keenly monitored. The FED may further hike by 25bps, but the expectation is that this will represent the peak and a long pause,” said Vinod Nair, Head of Research, Geojit Financial Services.

Wipro

Wipro on Thursday reported its fiscal fourth quarter net profit at Rs 3,149 crore, down 10% from Rs 3,524 crore in the same quarter last year. The IT major posted a revenue of Rs 23,190 crore in Q4FY23, up 11% from Rs 20,860 crore in the fourth quarter of FY22. Wipro board also gives nod to share buyback of Rs 12,000 crore.

Tech Mahindra 

IT services company Tech Mahindra on Thursday reported a 13.8% quarter-on-quarter drop in consolidated profits to Rs 1,118 crore and a 0.1% fall in revenues to Rs 13,718 crore for the March quarter.

LTIMindtree

L&T Group company LTIMindtree on Thursday reported 11.3% sequential rise in its net profit to Rs 1,114 crore for the March quarter. The net profit for the preceding quarter was Rs 1,000 crore.

Godrej Consumer Products

Godrej Consumer Products on Thursday announced that it has acquired the FMCG business of Raymond Consumer Care Limited, which includes brands like Park Avenue, Kamasutra and Premium, for Rs 2,825 crore.