Six Stocks In News At Noon: Wipro, Axis Bank, Reliance Industries, Havells India, L&T Tech And Infosys

Both the benchmark Sensex and Nifty were trading lower at noon on Friday. At 12:00 p.m., the NSE Nifty 50 was down 0.62% at 23,170 level and BSE Sensex by 0.7% near 76,500.

From Wipro Ltd., Axis Bank Ltd., Reliance Industries Ltd. to Havells India Ltd. and Infosys Ltd., these are the stocks that moved the most.

Axis Bank Ltd.'s share price hit the lowest level in over one year as analysts and brokerages cut earnings estimates. The near-term growth outlook looks bleak after a rise in slippages and rising credit cost weighed on the private lender's third-quarter performance.

During October–December, Axis Bank's overall slippages rose over 2.1% while credit cost rose over 85 basis points which surprised the Street negatively, according to Citi Research.

The stock is down 4.88% at Rs 987.

Infosys Ltd. share price fell 5% after third-quarter results. Analysts shared bullish calls on the stock.

The technology giant upped its revenue forecast in constant-currency terms for the financial year ending March 2025 to 4.5–5.0% from its earlier projection of 3.75–4.5%.

The stock is down 5.48% at Rs 1,822.95.

Wipro Ltd. share price declined ahead of its third quarter financial results. The company is expected to report a revenue of Rs 22,218 crore and net profit of Rs 3,057.4 crore, according to Bloomberg.

The stock is down 1.68% at Rs 283.15.

Havells India Ltd. share price rose on Friday after Nuvama's report said that the stock remains its preferred pick after its third-quarter results. However, the brokerage has slightly lowered its target price.

The stock is up 2.11% at Rs 1,591.

Reliance Industries Ltd.'s share price rose over 4% at the back of a large trade in the pre-open session on Friday and the company's third quarter financial results released a day prior.

The stock witnessed a block deal of 17 lakh shares, according to Bloomberg.

The Mukesh Ambani-led company posted a 4% sequential climb in its revenue from operations to Rs 2.39 lakh crore for the quarter ended Dec. 31, 2024. This is in line with the consensus estimate of analysts tracked by Bloomberg.

The stock is up 2.85% at Rs 1,303.

L&T Technology Services Ltd. share price gained after its third quarter financial results and BofA issued a double upgrade rating to "Buy" from "Underperform" and hiked the target price.

The firm cites an earlier-than-expected payoff from investments as a key driver, supported by an uptick in deal wins, signaling the start of a pay-off phase. Additionally, new deal intake is expected to outweigh slow spending in the automotive ER&D segment.

The stock is up 2.37% at Rs 5,366.45.