These 5 stocks can make money before Diwali, keep an eye on Friday
Top Stocks to Watch: The stock market is looking vibrant ahead of Diwali. A strong rally was seen for the second consecutive day. Investors will now be keeping an eye on five major stocks on Friday, which received significant updates on Thursday. These stocks are likely to see movement.
5 Stocks to Watch: Before Diwali, the stock market registered a strong rise for the second consecutive day on Thursday. Sensex rose by 862 points to close at 83,468 and Nifty jumped by 262 points to close at 25,585.
But the real action will be seen on Friday, as this is the last trading day before the weekend and Diwali holiday. After the stock market closed today on 16 October, big news came about many companies, the effect of which can be seen on their stocks on 17 October. Every investor is keeping an eye on these 5 big stocks.
Wipro Share
IT giant Wipro released its September quarter results. The company's revenue increased quarter-on-quarter (QoQ) from ₹22,080 crore to ₹22,641 crore, a growth of about 2.5%.
However, this was slightly below market expectations (₹22,700 crore). The company's stock closed 1.39% higher at ₹253.70 on Thursday. The stock may see further movement on Friday.
Infosys Share
Infosys has delighted investors ahead of Diwali. The company's profit increased by 6.4% compared to the first quarter to ₹7,365 crore.
Revenue also increased to ₹44,490 crore, compared to the estimate of ₹44,142 crore, meaning the company performed better than expected.
The company also announced a dividend of ₹23 per share to its shareholders. On Thursday, the stock closed slightly lower at ₹1,470.90.
Cyient Share
Cyient Limited reported slightly weak results, but the stock still held firm. The company's profit fell 28.8% to ₹127.5 crore in the September quarter. Revenue also declined to ₹1,781 crore, from ₹1,849 crore in the previous quarter.
Nevertheless, the stock closed 3.82% higher at ₹1,168 on Thursday. The company board announced an interim dividend of ₹16 per share to investors.
LTIMindtree Share
LTIMindtree also reported better-than-expected results. Profit rose 10.1% compared to the first quarter to ₹1,381.2 crore. Revenue also increased 5.6% to ₹10,394.3 crore, better than the estimate of ₹10,308 crore. The stock closed in the green at ₹5,615 on Thursday.
Punjab & Sind Bank Share
Public sector bank Punjab & Sind Bank also reported strong results. Profit for the September quarter increased to ₹295 crore from ₹240 crore. Net interest income (NII) also increased to ₹950 crore, from ₹873.8 crore previously. The stock closed slightly higher at ₹30.24 on Thursday.
Disclaimer: The information provided in this article is for general awareness purposes only. The stocks, companies, or investment options mentioned here do not constitute investment advice. Investing in the stock market is subject to market risks. Please consult your financial advisor before investing.