Fri, Oct 18, 2024 9:17 AM
Adani Enterprises shares in spotlight after raising Rs 4,200 crore via QIP
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Shares of United Spirits were off to a weak start on the bourses on October 18 after it fell over 1% to Rs 1,507 after Macquarie maintained its 'underperform' recommendation on the counter citing stiff competition may likely hamper growth prospects. With a price target of Rs 1,100, the international brokerage forecasts a downside potential of 28% from the last closing price of Rs 1,528.
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Wipro announced a pay hike from September 1, despite the current tepid demand environment, and still managed to increase its operating margin to 16.8% in the September quarter. Wipro CEO Srinivas Pallia said the company implemented merit salary increases, unlike other IT companies that deferred hikes, and plans to hire 10,000 to 12,000 people this fiscal year.
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Axis Bank's Q2 PAT rose 18% y-o-y to Rs. 6,918 crore, driven by tax provision reversals and higher treasury gains, partially offset by higher credit costs. Asset quality improved, but write-offs increased in the unsecured retail segment. Sharekhan maintains a Buy rating with a revised target price of Rs. 1,400, citing attractive valuations.
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