Stocks to watch: Shares of firms like Maruti, HCL Tech, Bajaj Finance, Tech M, IndiGo, Tata Steel, and others will be in focus on Friday’s trade.
Stocks To Watch on April 26: Indian headline indices today ended in the green, registering their fifth successive gains led by Axis Bank and other banking stocks. While the S&P BSE Sensex settled at 74,339.44, up by 486.50 points or 0.66%, the broader Nifty closed at 22,570.35, gaining 168 points or 0.75%.
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Q4FY24 results on April 26: Maruti Suzuki India., HCL Technologies, SBI Life Insurance Co., Bajaj Finserv, Shriram Finance, SBI Cards and Payment Services, Supreme Industries, Atul, Aditya Birla Sun Life AMC, Mahindra Lifespace Developers, Motilal Oswal Financial Services, KSB, Mahindra Holidays & Resorts India, Bajaj Holdings and Investment, Bank of Maharashtra, Usha Martin, Mastek, Indiabulls Real Estate, Eveready Industries India, VST Industries, and Force Motors will report their March quarter results today, April 26.
Bajaj Finance: Bajaj Finance’s March quarter net profit jumped 21 per cent year-on-year (Y-o-Y) to Rs 3,825 crore, beating estimates. The NBFC’s assets under management (AUM) grew by 34 per cent to Rs 3.31 trillion.
IndusInd Bank: IndusInd Bank reported a higher-than-expected growth in net profit of 15 per cent Y-o-Y to Rs 2,347 crore in Q4FY24. Its net interest income orose 13.9 per cent to Rs 5,376 crore, while NIM came at 4.26 per cent (vs 4.28 per cent Q-o-Q).
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Tech M: Tech Mahindra reported a 40.86 per cent Y-o-Y slide in consolidated net profit at Rs 661 crore in Q4FY24. Sequentially, however, the profit surged nearly 30 per cent. The company’s revenue from operations decreased by 6.17 per cent on year to Rs 12,871 crore.
Cyient: Cyient reported a 28.5 per cent quarter-on-quarter increase in net profit at Rs 196.9 crore for Q4FY24, with revenue from operations growing 2.2 per cent to Rs 1,861 crore.
InterGlobe Aviation (IndiGo): IndiGo has placed an order with European plane maker Airbus for 30 A350-900 widebody aircraft at a deal estimated to be between $4 billion and $5 billion.
Inox Wind: The Board of Inox Wind approved the issue of three bonus shares for every one share held at its meeting on Thursday. The record date is yet to be finalised.
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Biocon: The National Company Law Tribunal (NCLT) hws approved the scheme of amalgamation of biofusion therapeutics with Biocon Pharma.
Laurus Labs: The company has fixed May 8, 2024 as the Record Date for determining eligible shareholders for dividend payment of Rs 0.4 (20 per cent) per equity share of Rs 2 each, for FY24.
RITES: The company entered an MOU with Ultratech Cement for project management consultancy services for Rail Infra projects.
CRISIL: The rating agency’s unit received Sebi license to commence the business of ESG Ratings Provider.
Tata Steel: The company will proceed with an investment worth GBP 1.25 billion in the Port Talbot furnace.
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