Stocks to Watch: Maruti, Wipro, Axis Bank, Vedanta, SBI Life, Tata Power

With positive global cues coming in, the are likely to start trade on a positive note on Friday morning. At 7:35 am, the SGX Nifty futures were quoting 17,316 levels, hinting at a opening gain of 50 points on the Nifty benchmark.

Here are some out for in trade today:

Earnings Watch: Maruti Suzuki, IndusInd Bank, UltraTech Cement, Wipro, SBI Cards and Payment Services, Shriram City Union Finance, Solara Active Pharma Sciences, Sonata Software, Star Health and Allied Insurance Company, Supreme Industries, Tanla Platforms, Tata Chemicals, and Thyrocare Technologies, Can Fin Homes, Geojit Financial Services, Gillette India, GNA Axles, Gokaldas Exports, HFCL, Just Dial, L&T Finance Holdings, Lloyds Metals and Energy, and RPG Life Sciences will announce their Q4 results today.

Axis Bank: The third largest private sector lender of the country — reported a 54 per cent on-year growth to Rs 4,118 crore in its net profit for the Jan-March quarter on the back of healthy growth in core income and lower provisions. Net interest income of the bank grew 17 per cent on year to Rs 8,819 crore, while net interest margin (NIM) for Q4FY22 stood at 3.49 per cent. Read here

PNB Housing Finance: The company’s net profit rose by 33 per cent to Rs 170 crore for the fourth quarter ended March 2022 (Q4Fy22) from Rs 127 crore in Q4FY21. Its net interest income fell by 37 per cent in the reporting quarter to Rs 377 crore from Rs 593 crore in Q4FY21. Read more

SBI Life Insurance: The private sector insurer reported a 26 per cent jump in net profit in the January-March quarter (Q4FY22), aided by premium growth.

The insurer reported a net profit of Rs 672 crore in the quarter compared to Rs 532.38 crore in the year-ago period, beating street estimates. Read here

Vedanta: The mining and metals major’s consolidated net profit for the March quarter (Q4) dropped 10 per cent year-on-year (YoY) to Rs 5,799 crore. However, its revenue from operations (net sales) jumped 41 per cent YoY to Rs 39,342 crore for the same period, supported by higher sales volumes and improved commodity prices. Read here

Colgate-Palmolive (India): The company on Thursday said its board has approved the appointment of Prabha Narasimhan, a former senior HUL executive, as the Managing Director and Chief Executive Officer of the company for five years. Read more Ambuja Cements: The company on Thursday reported a 30.26 per cent decline in its consolidated net profit to Rs 856.46 crore for the first quarter ended March 2022 on account of rising fuel prices. Read here

Shriram Transport Finance: The company has posted a 44 per cent increase in net profit in the fourth quarter of the financial year 2021-22 to Rs. 1,086.13 crore, compared to Rs. 754.93 crore in the same period the previous year. The company’s Net Interest Income increased by 22.16 per cent to Rs. 2,627.82 crore as against Rs. 2,151.12 crore.Read more Bank of Maharashtra: The state-owned bank on Thursday reported an over two-fold increase in its consolidated net profit at Rs 355 crore in the quarter ended March, helped by a fall in the bad loan proportions, thus requiring lesser provisioning. Read here

Cyient: The IT company on Thursday said it will acquire Singapore-based Grit Consulting for USD 37 million (about Rs 284 crore) in an all-cash deal. Grit Consulting has expertise in consulting for asset-intensive industries like metal mining and energy. Read more

Biocon: The company on Thursday reported a 4 per cent decline in consolidated net profit to Rs 283.9 crore in the fourth quarter ended on March 31, 2022, as against a consolidated net profit of Rs 296.4 crore in the same quarter previous fiscal. Read here

Tata Power Company: The company said it has collaborated with the National Real Estate Development Council to install 5,000 electric vehicle charging points across Maharashtra.

REC: The company’s board has approved sale and transfer of Rajgarh Transmission to G R Infraprojects, which is the successful bidder selected through tariff based competitive bidding process.

Jindal Polypack: The company will acquire 100 per cent stake in SMI Coated Products for an enterprise value of Rs 195 cr.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Reply

Your email address will not be published.