Stocks To Watch: Infosys, Bajaj Auto, ITC, RVNL, Indus Towers and more
Infosys | FY25 revenue growth seen between 1% to 3%, lower than CNBC-TV18’s poll of 2% to 6% growth. The company also missed estimates on the US Dollar revenue, margin and profit front. The profit optically looks a beat but that is due to an other income component. It also declared a total dividend of ₹28 per share.Bajaj Auto | Net profit of ₹1,936 crore higher than CNBC-TV18 poll of ₹1,870 crore. Revenue of ₹11,485 crore also higher than the estimate of ₹11,118 crore. EBITDA and margin also higher than estimates. On a year-on-year basis, margin expanded by 80 basis points, while EBITDA grew by 34.4%. Revenue grew 29%, while profit was up 35.1%. The company also declared a dividend of ₹80 per share.ITC | Wholly-owned subsidiary ITC Infotech India entered into a share purchase agreement to acquire 100% shares in Blazeclan Technologies Pvt. Ltd. The acquisition will be done for a cash consideration of ₹485 crore and is expected to be closed in the next six to eight weeks. Blazeclan is a partner with AWS, Snowflake and has expertise in cloud migration and digital services. This acquisition is expected to augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment.Gokaldas Exports | Launches QIP to raise funds. Floor price of ₹789.99 is a 3% discount to Thursday’s closing price. Board to meet again on April 23 to determine the issue price of the QIP.Mahindra Lifesapces | Sells homes worth ₹350 crore in two days at Mahindra Zen in Bengaluru, which is the city’s first net zero waste + energy homes.TV18 Broadcast | Consolidated revenue up 66% year-on-year to ₹2,330 crore. Operating EBITDA loss of ₹161 crore compared to EBITDA profit of ₹77 crore last year. TV News EBITDA up 2% to ₹66 crore from ₹65 crore last year. The management said that EBITDA impacted by operating losses from sports and digital segments. JioCinema was the fastest growing OTT in the country.Network18 | Consolidated revenue up 63% year-on-year to ₹2,419 crore. Consolidated operating EBITDA loss of ₹190 crore from EBITDA of ₹57 crore last year.ICICI Securities | Net profit at ₹536.5 crore from ₹262.7 crore last year. Revenue up 74.4% to ₹1,543.2 crore. Consolidated EBITDA up 96.2% to ₹1,079.3 crore, while EBITDA margin at 69.9% from 62.2% last year.RVNL | Signs MoU with Turkish Engineering Consulting and Contracting – TUMAS India for partnership and collaboration in public transportation and infrastructure projects in India.Indus Towers | Signs MoU with NTPC Green Energy to address the need for pacing green energy objectives and the government’s efforts towards a carbon neutral economy.Mastek | Signs MoU with NTPC Green Energy to address the need for pacing green energy objectives and the government’s efforts towards a carbon neutral economy.
