Wipro: Bajaj Auto, Axis Bank, Wipro shares rise ahead of Q2 numbers

NEW DELHI: Share of Bajaj Auto, Axis Bank and Wipro were trading in green in early trade on Tuesday ahead of their financial results for the quarter ended September 30, 2017 later in the day.

Bajaj Auto was trading 0.01 per cent up at Rs 3,235 around 9.30 am (IST), while Wipro and Axis Bank were up 0.67 per cent and 0.44 per cent at Rs 292 and Rs 523, respectively, at around the same time. On the other hand, benchmark BSE Sensex was down 30 points, or 0.09 per cent, at 32,603.

Private lender Axis Bank is likely to report muted earnings for September quarter on account of a rise in provisions. This is despite a likely moderation fresh slippages and double digit loan growth. The quantum of corporate slippages from the watch list and quantum of loans rescheduled under 5:25, SDR and S4A schemes, will be keenly watched, analysts said.

On the other hand, the two-wheeler maker Bajaj Auto is likely to report mixed set of numbers on Tuesday for the quarter ended September 30, 2017. There are expectations that revival in demand from rural markets on account of normal monsoons and early festive season will help the industry to post positive growth in Q2FY18. However, higher commodity prices will restrict margin expansion on a year-on-year basis.

Brokerage firm Emkay Global Financial Services sees 4.50 per cent QoQ and 4 per cent year-on-year (YoY) dip in bottomline figures of Wipro in Q2FY18. Operating profit margin of the company can be impacted by wage hike.

READ ---  FINL, UA, NKE & more