Stocks to Watch: Action will be seen in these stocks including Axis, HDFC, Airtel, Lupine, REC, JSW Energy, prepare the list.
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Stocks to Watch Today: After yesterday’s huge fall in the Indian stock market, a slight improvement in the situation is expected today. However, Gift Nifty is trading almost flat. At 7.30 am it is seen at 21,284, 45 points above the last close. In Asia this morning, the Hang Seng rose 1.6 percent. The Straits Times and Taiwan were up marginally, while the Nikkei and Kospi were down. The US market ended with a mixed trend. S&P 500 and Nasdaq saw gains, while Dow Jones fell by up to 0.3 percent.
Quarterly results of these companies will come today: Bajaj Auto, Bharat Dynamics, Blue Dart, Canara Bank, CEAT, DCB Bank, DLF, Exide Industries, Indian Bank, Indian Overseas Bank, Indian Oil, Laurus Labs, PNB Housing, Railtel, Tata Steel, Tech Mahindra, TVS Motor, UCO Bank and Ujjivan SFB are some of the major companies which are going to announce December quarter results on Wednesday.
Axis Bank:The private sector lender reported 4 percent year-on-year (YoY) growth in net profit at Rs 6,071 crore for Q3FY24. Net interest income increased by 9 percent to Rs 12,532 crore.
L&T Finance Holdings (LTFH): Consolidated net profit for Q3FY24 increased 41 per cent year-on-year to Rs 640 crore. Net interest income (NII) increased by 8 percent to Rs 1,833 crore.
Bharti Airtel: A prepaid payment of Rs 8,325 crore was made to the Department of Telecommunications for partial prepayment of deferred liabilities related to spectrum acquired in the 2015 auction.
Hero MotoCorp:Chief Executive Officer (CEO) Niranjan Gupta said on Tuesday that there are plans to launch three electric scooters in ‘mid’, ‘affordable’ and ‘business-to-business (B2B)’ segments in 2024.
Mahanagar Gas: Q3 consolidated net profit increased 84.3 per cent year-on-year to Rs 317 crore due to lower cost of natural gas and merchandise. However, revenue from operations declined by 6.1 percent to Rs 1,569 crore.
United Spirits: Q3FY24 consolidated net profit increased by 63.5 per cent year-on-year to Rs 350 crore. Revenue from operations increased by 8 percent to Rs 3,002 crore.
Tata Elxsi: Net profit for December quarter increased by 3.2 percent on sequential basis to Rs 206 crore. Revenue from operations increased 3.7 percent QoQ to Rs 914 crore.
rec: Q3FY24 net profit increased 13 percent year-on-year to Rs 3,269 crore. Net income increased by 21 percent to Rs 4,350 crore.
JSW Energy: Q3FY24 consolidated net profit increased by 28.8 per cent year-on-year to Rs 231 crore. Revenue from operations increased by 13.1 percent to Rs 2,543 crore.
HDFC bank: Said on Tuesday that it has now become the first lender in India to achieve the milestone of 20 million credit cards. The lender entered the credit card business in 2001 and touched the Rs 10 million mark in 2017.
Lupine: Received provisional approval from the USFDA for an abbreviated new drug application for rivaroxaban tablets to be marketed in the US. These tablets are the generic equivalent of Xarelto tablets from Janssen Pharmaceuticals, a popular blood thinner used for various cardiovascular conditions.
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