Axis Bank, HUL, TechM, Nestle, Bajaj Finance, RVNL, ITC, and Other Stocks to Monitor
Stocks To Monitor On April 25: Following their recent rally, markets took a break on Wednesday, ending the day slightly higher. Due to different linked happenings or quarterly results, shares of Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, and Kotak Bank, among others, will be under focus in today’s trading.
Results for Q4FY24 as of April 25, 2024: Today, April 25, 2024, the following companies will release their Q4FY24 results: Nestle India, Tech Mahindra, Bajaj Finance, Indusind Bank, Glenmark Life Sciences, Coromandel International, Cyient, L&T Technology Services, Laurus Labs, Mphasis, Schaeffler India, Tanla Platforms, UTI Asset Management Co., and Zensar Technologies.
Axis Bank: In comparison to a net loss of Rs 5,728.42 crore during the same time last year, the nation’s third-largest private sector lender posted a net profit of Rs 7,129.67 crore for the quarter that concluded on March 31 (Q4FY24).
The quarter’s net interest margin increased by 5 basis points, to 4.06 percent.
Hindustan Unilever: The FMCG behemoth revealed a consolidated net profit for Q4FY24 of Rs 2,558 crore, a 1.6% YoY decrease. In Q4, its consolidated income increased by less than 1% to Rs 15,441 crore.
Indian Hotels: For Q4FY24, The Indian Hotels Company Ltd (IHCL) reported a Y-o-Y increase in consolidated profit after tax of 29.36% to Rs 438.33 crore.
LTIMindtree: The leading provider of IT services announced a net profit for Q4FY24 of Rs 1,100 crore, a 1.2% decrease year over year (Y-o-Y). Revenue increased at Rs 8,892.9 crore, or 2.3% YoY. Street estimates were not met by either number.
Macrotech Developers: The real estate company Macrotech Developers, often referred to as Lodha, said that its consolidated net profit for the March quarter fell by 10.6% year over year to Rs 667 crore. Nonetheless, the business revealed strong margins and its best-ever quarterly and yearly pre-sales performance.
Kotak Mahindra Bank: Due to a two-year period of inadequate IT risk and information security governance, the Reserve Bank of India on Wednesday ordered Kotak Mahindra Bank Ltd. to immediately stop issuing new credit cards and onboarding new customers through its online and mobile banking channels.
ITC: The demerger plan will be approved by ITC’s ordinary shareholders at their meeting on June 6.
Jubilant Pharmova: The United States Food and Drug Administration (USFDA) has completed an audit of Jubilant Draximage, a fully owned subsidiary of Jubilant Pharma Limited, which is a radiopharmaceutical production plant located in Montreal, Canada. Following the audit’s conclusion, the USFDA released five observations. In response to the observations, the firm will provide an action plan.
Reliance Industries: For Rs 1 crore, the business purchased a 100% interest in MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV.
Tata Motors: Vertelo, an integrated fleet electrification platform, awarded Tata Passenger Electric Mobility a contract to deliver 2,000 XPRES-T electric vehicles.
Andhra Paper: Citing the effects of the workers’ continuous strike that began on April 2, Andhra Paper has announced a “lockout” of its Rajamahendravaram factory.
Rail Vikas Nigam Ltd.: Southern Railway invited bids for a project of Rs. 439 crore, and the KRDCL-RVNL joint venture submitted the lowest.
