Fri, Oct 18, 2024 9:15 AM
Stock to Watch: Zomato shares in focus as company announces fundraise plans
A Flip by Shubhangi Gupta
LTIMindtree shares declined more than 5% on October 18, a day after the IT services firm reported its earnings for the July to September 2024 period, which were largely in line with CNBC-TV18 poll estimates. Despite acknowledging strong deal wins, brokerage firms are divided on the Mumbai-based IT services provider.
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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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