Axis Bank, HUL, Indian Hotels, Hindustan Zinc, IIFL Finance, and Other Stocks to Monitor
Stocks To Watch On April 24: Despite a rangebound rise, domestic markets rose for the third day in a row on Tuesday, mirroring encouraging global indications and outperforming the overall market over time. Due to numerous happenings or quarterly results, shares of HUL, LTIMindtree, Indian Hotels, Axis Bank, Tata Consumer, and Cyient DLM will be under focus in today’s session.
Indian Hotels, HUL, LTIMindtree, and Axis Bank
Axis Bank, LTIMindtree, Indian Hotels, and HUL shares will be closely watched when they report their fourth-quarter earnings.
Tata Consumer Products: Due to unusual events, TCPL’s net profit in the March quarter of FY24 (Q4FY24) decreased by 19.3% to Rs 217 crore. The company’s sales increased by 8.5% to Rs 3,927 crore during the quarter, driven mostly by a 10% growth in its India division.
ICICI Prudential Life Insurance: Due to higher expenditures, the private life insurer had a 26% year-over-year decline in net profit in Q4FY24, totaling Rs 173.76 crore. The net profit decreased by almost 23% sequentially. The company’s Value of New Business (VNB) decreased 26.44 percent year over year to Rs 776 crore, and its VNB margin decreased to 21.46 percent from 31.97 percent in Q4FY23.
IIFL Finance: In accordance with the Reserve Bank of India’s directive, the lending division of the IIFL Group has started the special audit.
SBI Card: State Bank of India’s credit card division, SBI Card, has unveiled “SBI Card MILES,” its first travel-focused main credit card.
The card offers a wide range of travel perks, such as the ability to convert Travel Credits into Hotel Points and Air Miles, better rewards on all travel reservations, and entry to airport lounges.
Dr. Reddy’s Laboratories: In response to powder discoloration in certain packets that resulted in reduced effectiveness, Dr. Reddy’s Laboratories has opted to voluntarily recall six batches of Sapropterin Dihydrochloride Powder for Oral Solution 100 mg in the US.
The business, Mahindra and Mahindra Financial Services, has authorized an increase in the borrowing ceiling from Rs 1.1 trillion to Rs 1.3 trillion.
AU, Ujjivan, and Utkarsh Small Finance Banks: The Reserve Bank of India has released rules for Small Finance Banks (SFBs) trading in Rupee Interest Rate Derivative instruments.
Lupin: The United States Food and Drug Administration (USFDA) has sent Lupin the Establishment Inspection Report (EIR) for its manufacturing site in Aurangabad. According to the USFDA, the facility’s inspection classification is Voluntary Action Indicated (VAI).
According to the firm, the project has a potential Gross Development Value (GDV) of more than Rs 2,000 crore and a cumulative projected development potential of 4.10 lakh sq ft carpet area, of which over 2.15 lakh sq ft is available for sale.
NHPC, NTPC: A joint venture agreement for the sale of a portion of NHPTL for a price of Rs 1.31 crore has been signed by the JV Partners of the National High Power Test Laboratory, which are NTPC, Powergrid, DVC, CPRI, and NHPTL.
Hindustan Zinc: Reports indicate that despite the promoter’s modification of the proposal from a three- to a two-way split, the government has continued to oppose Vedanta’s attempt to de-merge Hindustan Zinc (HZL).
