RIL, Wipro, HDFC Bank, Ultratech, NTPC, Tata Steel, Zomato, and Other Stocks to Monitor
Stocks To Watch on April 22: The domestic market was turbulent last week as investors continued to exercise caution due to the unstable situation in the Middle East. Due to a number of events and earnings, shares of RIL, Wipro, HDFC Bank, UltraTech, and IREDA, among others, will be the subject of attention in today’s trading.
Results for Q4FY24 on April 22: On Monday, April 22, 2024, Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will make their quarterly financial announcements.
HDFC Bank: For the quarter that concluded on March 31, 2024, the private sector lender recorded a 37.1% increase in net profit to Rs 16,512 crore. While the core net interest margin was 3.44 percent on total assets and 3.63 percent based on interest-earning assets, net interest income increased by 24.5 percent to Rs 29,080 crore.
Wipro: After market hours on Friday, the IT giant revealed a net profit of Rs 2,835 crore for Q4FY24, which represents a 7.9% YoY decrease and a 5% QoQ increase. The quarter’s revenue was Rs 22,208.3 crore, which was 4.2% less than the previous year.
Jio Financial Services: Up 5.72 percent on a sequential basis, Jio Financial Services Ltd. recorded a consolidated net profit of Rs 310.63 crore in Q4 FY24. At Rs 418 crore, the total income from operations remained unchanged.
Ultratech Cement: For a consideration of Rs 315 crore, the cement giant would purchase a grinding facility in Mahrashtra from India Cements, with a capacity of 1.1 million metric tons per year (mtpa).
Tata Group stocks: On Monday, investors will be watching the conglomerate’s shares closely due to a Bloomberg article speculating that Tata Group may soon reach an agreement to acquire Pegatron Corp.’s Indian iPhone manufacturing business as early as May.
NTPC: On Friday, authorities reported that a large fire had started at the company’s North Karanpura superthermal power plant in the Chatra district of Jharkhand. A 660 x 3 MW coal-based power plant is installed.
In a related move, Indus Towers and the company’s completely owned subsidiary, NTPC Green Energy, have inked a memorandum of understanding (MoU) to meet the need for accelerating green energy targets.
Tata Steel: The NCLT has given its approval for Angul Energy to merge with the business.
Laurus Labs: According to Laurus Labs, the US Food and Drug Administration (USFDA) examination of its API manufacturing plant in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh, was completed with no remarks.
Sterlite Technologies: An arbitrator has dismissed the Rs 145 crore lawsuit filed by the broadband technology business against BSNL for the installation of optical fiber cables.
IREDA: The company announced a 33% YoY increase in net profit for the quarter that ended in March 2024, coming in at Rs 337 crore.
Zomato: Zomato is facing a penalty order and GST demand of Rs 11.81 crore for the period spanning from July 2017 to March 2021.
The Central Bank of India: Aditya Birla Sun Life AMC and the firm inked a distribution agreement for mutual fund products.
