Stocks To Watch On April 22: Domestic market experienced turbulence throughout the last week as caution persisted among investors given the fragile middle-east situation. In today’s trade, shares of RIL, Wipro, HDFC Bank, UltraTech, IREDA among others will be in focus due to various developments and earnings.
Q4FY24 results on April 22: Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will announce their March quarter earnings on Monday, April 22, 2024.
HDFC Bank: The private sector lender reported 37.1 per cent growth in net profit for the quarter ended 31 March 2024 to Rs 16,512 crore. Net interest income, meanwhile, grew by 24.5 per cent to Rs 29,080 crore while core net interest margin was at 3.44 per cent on total assets, and 3.63 per cent based on interest earning assets.
Wipro: The IT company on Friday, post market hours, reported a net profit of Rs 2,835 crore for Q4FY24, down 7.9 per cent Y-o-Y/up 5 per cent Q-o-Q. Revenue for the quarter was Rs 22,208.3 crore, 4.2 per cent less on a Y-o-Y basis.
Jio Financial Services: Jio Financial Services Ltd reported a consolidated net profit of Rs 310.63 crore in Q4FY24, up 5.72 per cent sequentially. Consolidated revenue from operations was flat at Rs 418 crore.
Ultratech Cement: The cement major will buy a grinding unit from India Cements, with a capacity of 1.1 million tonnes per annum (mtpa), in Mahrashtra for a consideration of Rs 315 crore.
Tata Group stocks: The conglomerate’s stocks would be in focus on Monday amid a Bloomberg report that Tata Group may strike a deal to take control of Pegatron Corp.’s iPhone manufacturing operations in India as soon as May.
NTPC: A massive fire broke out at NTPC’s North Karanpura superthermal power plant in Jharkhand’s Chatra district, officials said on Friday. The installation is a 660X3 mw coal-based power plant.
Meanwhile, in a separate development, the company’s fully owned subsidiary NTPC Green Energy, and Indus Towers have signed a memorandum of understanding (MoU) to address the need for pacing green energy objectives.
Tata Steel: NCLT has approved the amalgamation of Angul Energy with the company.
Laurus Labs: Laurus Labs said that its API Manufacturing facility situated in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh has cleared the US Food and Drug Administration (USFDA) inspection with zero observations.
Sterlite Technologies: An arbitrator has rejected broadband technology company Sterlite Technologies’ claims worth Rs 145 crore against BSNL in an optical fibre cable laying project.
IREDA: IREDA reported a 33% year-on-year (YoY) jump in net profit at Rs 337 crore for the quarter ended March 2024.
Zomato: Zomato has received a GST demand and penalty order of Rs 11.81 crore for a period of July 2017 to March 2021.
Central Bank of India: The company signed an agreement with Aditya Birla Sun Life AMC for the distribution of mutual fund products.
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