Indian stock markets are eyeing a flat start on Friday, October 25, 2024, with the GIFT Nifty trading marginally lower. Key earnings announcements today, coupled with global cues, will play a crucial role in shaping market sentiment. Here are the top stocks to keep an eye on as Q2 results roll in from some of India’s major companies.
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ITC
ITC reported a 3.1% year-on-year increase in its net profit, reaching Rs 5,078.3 crore in Q2FY25. Revenue also saw a healthy growth of 16.8%, hitting Rs 19,327.7 crore. As a diversified FMCG company, ITC’s strong performance is likely to keep it in the spotlight, with its robust fundamentals continuing to attract investor interest.
JSW Steel
JSW Steel will be releasing its Q2 results today. The stock remains a key pick for those watching the steel sector. With infrastructure and manufacturing sectors showing signs of demand recovery, analysts expect a moderate uptick in earnings. Investors should be prepared for potential movements based on profit margins and operational performance.
Axis Bank
The re-appointment of Amitabh Chaudhry as Managing Director and CEO of Axis Bank for another three years, starting January 2025, could provide stability and further boost investor confidence. Axis Bank remains a favorite in the banking sector, with many expecting strong fundamentals to drive growth over the next few quarters.
NTPC
NTPC has posted a 19.6% increase in its Q2FY25 profit, reaching Rs 4,649 crore, despite a slight dip in revenue. As India’s largest power generation company, NTPC’s consistent performance, coupled with strong cash flows, makes it a solid pick for investors focusing on long-term value.
Bikaji Foods
Bikaji Foods has reported a 13% increase in its net profit for Q2FY25, standing at Rs 69.2 crore. Known for its growing presence in the packaged snacks market, Bikaji has been gaining momentum. Investors are looking at this stock for its potential to capitalize on India’s expanding FMCG market.
IndusInd Bank
IndusInd Bank saw a sharp drop in its profits for Q2FY25, down 39.2% year-on-year to Rs 1,325.5 crore. Despite this, its net interest income grew by 5.3% to Rs 5,347.3 crore. IndusInd remains a stock to watch for those interested in the banking sector, especially in light of ongoing developments in interest rate policies.
Dixon Technologies
Dixon Technologies made headlines with an impressive 263.2% surge in profits for Q2FY25, driven by a sharp revenue increase of 133.3%. The company continues to be a frontrunner in the electronics manufacturing sector, making it a favorite for investors looking to tap into India’s growing consumer electronics demand.
United Breweries
United Breweries posted a 23% rise in its net profit, reaching Rs 132.3 crore for Q2FY25. With steady revenue growth and a strong foothold in the beverage sector, UBL’s stock is gaining traction as a long-term investment bet.
Reliance Industries
With a buy range of Rs 2,675-2,680, Reliance Industries remains a strong pick for investors. Target prices are expected to be in the Rs 2,698-2,725 range, with stop-loss at Rs 2,650. As one of India’s most diversified conglomerates, Reliance’s steady performance in various sectors continues to appeal to a wide range of investors.
Paytm
With the fintech space gaining more prominence, Paytm has emerged as a top pick. Analysts suggest a buy range of Rs 755-765, with target prices projected between Rs 785-810. The company’s growth in digital payments and financial services keeps it as a hot pick for investors seeking exposure to the tech sector.
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Disclaimer – This article has been created by SMJ. SMJ is responsible for the views and analysis shared in this article. Investors are advised to perform their own research before making any investment decisions. SMJ does not bear any liability for potential investment outcomes based on this information.
