Stocks to Watch Today: Tech Mahindra's 33% Profit Jump, a Wipro Deal Slump and a 14% Fall in Yes Bank

Stocks to watch today come from Thursday's session, when the Sensex rose 1,533.72 points, or 2.11 percent, to 74,315.61 and the Nifty gained 1.66 percent to 22,997.35. The Nifty IT index rose 1.82 percent, while the Nifty PSU Bank index fell 1.55 percent, and broader markets lagged as the Nifty Smallcap 100 index fell 1.31 percent. Reported drivers were strength in IT shares, lower crude oil prices and a stronger rupee.

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Ankit Jaiswal and Kunal Singla are watching how Tech Mahindra and Wipro open after their results, and whether the sharp falls in Nestle India, Yes Bank and IDBI Bank find support. Six stocks that rose or reported results and four that fell are covered below. Prices, RSI, SuperTrend and moving-average levels are as of Thursday's close, and price-to-earnings ratios use the latest available earnings.

1. Tech Mahindra: Profit Up 33% With a Dividend and Bonus Announced After the Close in Stocks to Watch Today

Tech Mahindra closed at Rs 1,650, up 4.75 percent and at the high of the day, on 86.6 lakh shares, and then reported consolidated net profit of Rs 1,586 crore, up 32.7 percent, on revenue of Rs 16,180 crore, up 15.6 percent. The board declared an interim dividend of Rs 15 a share with a record date of 23 October and recommended a 1:1 bonus issue. Ankit Jaiswal is watching Rs 1,596.10, Thursday's low, as the first support, and the SuperTrend support of Rs 1,471.70 sits 10.8 percent below the close. The risks are that the results came after the close, so the stock can gap either way, the close is 2.3 percent above the upper Bollinger band of Rs 1,612.34 and the P/E of 31.3 is well above the industry average of 18.27.

2. Wipro: Downside Watch: Profit Down 1.9% and Large Deals Down 58.6% in Stocks to Watch Today

Wipro is a downside watch after reporting September-quarter net profit of Rs 3,201 crore, down 1.9 percent, while revenue rose 9.1 percent to Rs 24,753 crore. Large deal bookings fell 58.6 percent from the previous quarter to $674 million, and guidance for IT services revenue is a change of minus 1.5 percent to plus 0.5 percent in constant currency. The stock closed at Rs 174.05, up 1.83 percent, and Kunal Singla is watching the SuperTrend support of Rs 161.20, 7.4 percent below the close. The P/E of 13.0 is below the industry average of 18.27, but the close is 0.9 percent above the upper Bollinger band of Rs 172.42.

3. Persistent Systems: Revenue Up 30% but Profit Down 25% on Results Day in Stocks to Watch Today

Persistent Systems closed at Rs 5,840, down 0.98 percent, on 13.3 lakh shares, after reporting September-quarter revenue of Rs 4,663.9 crore, up 30.3 percent, and net profit of Rs 351.5 crore, down 25.4 percent. EBIT rose 19.5 percent and quarterly deal wins were $633.5 million. Ankit Jaiswal is watching the SuperTrend support of Rs 5,429.45, 7.0 percent below the close. The risks are an RSI of 70.1, a P/E of 47.9 against an industry average of 18.27 and a profit decline that the source reports without a stated cause.

Also read – 10 Stocks to Buy Today: Tata Elxsi's Profit Jump, Record Cargo at Adani Ports and Four Results Due Today

4. Nestle India: Downside Watch: Down 7.8% Despite a 36% Profit Rise in Stocks to Watch Today

Nestle India is a downside watch after closing at Rs 1,275.80, down 7.76 percent, on 77.7 lakh shares, after reporting September-quarter profit up 36 percent to Rs 1,027 crore on revenue up 20 percent. Reports attribute the fall to concern about margins amid rising food inflation and input costs. Kunal Singla is watching the SuperTrend support of Rs 1,255.86, 1.6 percent below the close, and Thursday's low of Rs 1,260.50. The P/E of 64.6 is almost double the industry average of 34.68 and the close is 4.9 percent below the 20-day average of Rs 1,341.72.

5. Yes Bank: Downside Watch: Down 14.5% on 66.8 Crore Shares After an AT1 Bond Ruling in Stocks to Watch Today

Yes Bank is a downside watch after closing at Rs 18.12, down 14.53 percent, on 66.8 crore shares, after reports that the Supreme Court set aside the bank's plea to write off AT1 bonds worth about Rs 8,415 crore. The stock traded between Rs 16.96 and Rs 21.38. Ankit Jaiswal is watching Rs 16.96, Thursday's low, 6.4 percent below the close. The RSI of 19.8 is deeply oversold, but the SuperTrend is bearish with resistance at Rs 21.66 and the close is below the lower Bollinger band of Rs 18.80.

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6. IDBI Bank: Down 7.7% After the Fairfax Stake Sale Approval in Stocks to Watch Today

IDBI Bank closed at Rs 83.45, down 7.68 percent, on 7.27 crore shares, a day after the Union Cabinet approved the sale of a 60.72 percent stake to Fairfax Financial Holdings at Rs 81 a share for Rs 52,878 crore. Completion is expected by March 2027 and Q2 results are due on 17 October. Kunal Singla is watching the SuperTrend support of Rs 78.83, 5.5 percent below the close, with the Rs 81 deal price in between. The P/E of 9.6 is below the industry average of 12.02, but the close is 0.8 percent below the 20-day average of Rs 84.14.

7. Reliance Industries: Up 3.4% as Jio Platforms Sets IPO Details in Stocks to Watch Today

Reliance Industries closed at Rs 1,215, up 3.44 percent, on 2.35 crore shares, after reports that Jio Platforms set a price band of Rs 1,065 to Rs 1,119 for an initial public offering of about Rs 30,213 crore, with Reliance holding 66.43 percent before the issue. Dates are reported as provisional until the final prospectus is filed. Kunal Singla is watching Rs 1,230.75, the SuperTrend resistance, 1.3 percent above the close. The risks are that the SuperTrend is still bearish, the return on equity is 8.94 percent and the P/E of 18.6 is above the industry average of 15.11.

8. HDFC Asset Management Company: Up 5.1% as Revenue and EBITDA Beat Estimates in Stocks to Watch Today

HDFC Asset Management Company closed at Rs 2,415, up 5.14 percent, after reporting September-quarter revenue of Rs 1,170 crore, up 6 percent from the previous quarter, and EBITDA of Rs 930 crore, up 9 percent, both above estimates. Net profit fell 11 percent from the previous quarter to Rs 749 crore, mainly on a 73 percent fall in other income. Ankit Jaiswal is watching Rs 2,424.90, Thursday's high, and Rs 2,478.74, the upper Bollinger band. The risks are a MACD line below its signal line and a P/E of 35.2 against an industry average of 17.97.

Also read – Intraday Stocks for Today: BHEL, Canara Bank and IDBI Bank Set Up After a Weak Wednesday for the Nifty

9. Tata Communications: Up 6.3% After Profit Rises 86%, but Off the Day's High in Stocks to Watch Today

Tata Communications closed at Rs 1,763.70, up 6.32 percent, on 50.9 lakh shares, after reporting September-quarter consolidated net profit of Rs 341 crore, up 86 percent from Rs 183 crore a year earlier. The stock reached Rs 1,866 during the session and closed 5.5 percent below that high. Kunal Singla is watching the SuperTrend support of Rs 1,649.79, 6.5 percent below the close. The risks are an RSI of 68.8, a P/E of 53.7 against an industry average of 35.72 and debt to equity of 3.55.

10. Federal Bank: Results Due Today With the SuperTrend Resistance 1.9% Away in Stocks to Watch Today

Federal Bank closed at Rs 335, up 1.52 percent, on 39.2 lakh shares, and its board meets today to consider September-quarter results. Ankit Jaiswal is watching Rs 341.43, the SuperTrend resistance, 1.9 percent above the close, and Rs 326.63, the 20-day average, 2.5 percent below it. The RSI is 54.7 and the close is 0.7 percent below the upper Bollinger band of Rs 337.34. The risks are results-day volatility and a P/E of 17.1 against an industry average of 12.05.

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Conclusion

Today's stocks to watch combine the Tech Mahindra dividend and bonus, the mixed Wipro and Persistent Systems results, the Jio Platforms issue details for Reliance Industries, and downside watches in Nestle India, Yes Bank and IDBI Bank. Ankit Jaiswal and Kunal Singla will be tracking whether Tech Mahindra holds Rs 1,596.10 at the open and whether Nestle India defends Rs 1,255.86. Follow stop-loss levels on every position and consult a SEBI-registered adviser before acting on any of today's stocks to watch.

Frequently Asked Questions

What are the top stocks to watch today?

Ans. The top stocks to watch today are Tech Mahindra, Wipro, Persistent Systems, Reliance Industries, HDFC Asset Management Company, Tata Communications and Federal Bank, with Nestle India, Yes Bank and IDBI Bank as downside watches.

What were the Tech Mahindra Q2 results?

Ans. Tech Mahindra reported consolidated net profit of Rs 1,586 crore, up 32.7 percent, on revenue of Rs 16,180 crore, up 15.6 percent, and declared an interim dividend of Rs 15 a share with a record date of 23 October.

What were the Wipro Q2 results?

Ans. Wipro reported net profit of Rs 3,201 crore, down 1.9 percent, on revenue of Rs 24,753 crore, up 9.1 percent, with large deal bookings of $674 million, down 58.6 percent from the previous quarter.

Why did Nestle India fall on Thursday?

Ans. Nestle India fell 7.76 percent to Rs 1,275.80 despite a 36 percent rise in quarterly profit, and reports point to concern about margins amid rising food inflation and input costs.

Why did Yes Bank fall 14.5 percent?

Ans. Yes Bank fell 14.53 percent to Rs 18.12 after reports that the Supreme Court set aside its plea to write off AT1 bonds worth about Rs 8,415 crore.

What is the IDBI Bank stake sale to Fairfax?

Ans. The Union Cabinet approved the sale of a 60.72 percent stake in IDBI Bank to Fairfax Financial Holdings at Rs 81 a share for Rs 52,878 crore, with completion expected by March 2027.

Why did the Sensex rise on Thursday?

Ans. The Sensex rose 2.11 percent to 74,315.61 on reported strength in IT shares, lower crude oil prices and a stronger rupee.

Should I buy a stock only because it rose after results?

Ans. No. A post-result gain shows interest, not a confirmed reason to buy. Check fundamentals, use a stop-loss and consult a SEBI-registered adviser.