STOCK MARKET

Stocks in news: HCL Tech, HDFC Bank, PNB Housing Finance, Coal India and more

STOCK MARKETS

Indian benchmark indices are likely to open higher amid mixed global cues.

Equity markets closed at record highs on October 14, tracking gains in ITC, HDFC Bank and PowerGrid shares amid mixed cues in global markets. Sensex ended above 61,000 for the first time and Nifty closed above the 18k mark for the second consecutive session.

The 30-stock index closed 568 points higher at a new peak of 61,305 and Nifty rallied 176 points to 18,338. Sensex and Nifty logged record highs of 61,353 and 18,350 during the session.

Here are the stocks that are likely to remain in focus today.

HCL Tech: HCL Technology reported a net profit of Rs 3,265 crore for the July-September quarter, recording a growth of 1.6 per cent on quarter-on-quarter (QoQ) and 3.9 per cent growth on a year-on-year (YoY) basis.

The company’s revenue grew 2.9 per cent QoQ and 11.1 per cent YoY to Rs 20,655 crore. The revenue in constant currency terms grew 3.5 per cent QoQ and 10.5 per cent YoY. The EBITDA margin for the said quarter stood at 23.4 per cent, while the EBIT margin was recorded at 19 per cent.

HDFC Bank: The bank reported a 18.1 per cent jump in consolidated net profit at Rs 9,096 crore in the July-September quarter of the current fiscal year. The bank had registered a net profit of Rs 7,703 crore during the same quarter last fiscal.

On a standalone basis, after providing Rs 3,048.3 crore for taxation, HDFC Bank earned a net profit of Rs 8,834.3 crore, an increase of 17.6 per cent over the Rs 7,513.1 crore standalone net profit reported in the quarter ended September 30, 2020.

The lender’s standalone net revenue increased 14.7 per cent to Rs 25,085.2 crore during the quarter ended September 30, 2021 from Rs 21,868.8 crore in the quarter ended September 30, 2020.

PNB Housing Finance: Punjab National Bank Housing Finance Ltd, a subsidiary of state-owned Punjab National Bank, in a stock exchange filing said its board has terminated a Rs 4,000 crore deal with US-based Carlyle group-led group of investors.

“At a meeting held today, the board decided not to proceed with the preferential issue and the share subscription  agreements executed with the Proposed Allottees have been terminated in accordance with their respective terms,” PNB said in a stock exchange filing.

The PNB Housing Finance said its board has been informed that consequently Pluto Investments, which is a Carlyle entity, will be initiating the process to withdraw the open offer made by them  (at Rs 403.22 per share).

Coal India: Coal India Limited reduced supply to the non-power sector, but did not stop it altogether as alleged by some quarters, to fulfil emergency requirements for electricity plants amid shortage of the dry fuel, a senior official told PTI.

Cyient: The company posted a 44.57 per cent jump in consolidated net profit to Rs 121.3 crore for the quarter ended on September 30, 2021, compared to Rs 83.9 crore in the same period a year ago.

Consolidated revenue from operations increased by 10.79 per cent to Rs 1,111.6 crore during the reported quarter compared to Rs 1,003.3 crore in the corresponding quarter of 2020-21, according to a regulatory filing by the company.

Avenue Supermarts: The company reported a twofold increase in its consolidated net profit to Rs 418 crore for the quarter ended September. Revenue from operations jumped 46.79% to Rs 7,789 crore during the quarter.

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top