Stocks to Watch: Axis Bank, HUL, TechM, Nestle, Bajaj Finance, RVNL, ITC, and Others – News18

Stocks To Watch On April 25: Markets took a breather after the recent surge and ended marginally higher on Wednesday. In today’s trade, shares of Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank among others will be in focus due to various related developments or quarterly earnings.

Q4FY24 results on April 25, 2024: Nestle India, Tech Mahindra, Bajaj Finance, Indusind Bank, Glenmark Life Sciences, Coromandel International, Cyient, L&T Technology Services, Laurus Labs, Mphasis, Schaeffler India, Tanla Platforms, UTI Asset Management Co., and Zensar Technologies will report their Q4FY24 results today, April 25, 2024.

Axis Bank: The country’s third largest private sector lender reported net profit of Rs 7,129.67 crore in the quarter ended March 31 (Q4FY24) as compared to a net loss of Rs 5,728.42 crore in the same period of the previous year.

Net interest margin for the quarter was 4.06 per cent, up 5 bps sequentially.

Hindustan Unilever: The FMCG giant reported a consolidated net profit at Rs 2,558 crore for Q4FY24, down 1.6 per cent Y-o-Y. Its consolidated income rose less than one per cent to Rs 15,441 crore in Q4.

Indian Hotels: The Indian Hotels Company Ltd (IHCL) reported a 29.36 per cent Y-o-Y growth in consolidated profit after tax to Rs 438.33 crore for Q4FY24.

LTIMindtree: IT services major reported a net profit of Rs 1,100 crore for Q4FY24, down 1.2 per cent year-on-year (Y-o-Y). Revenue grew 2.3 per cent Y-o-Y to Rs 8,892.9 crore. Both the numbers missed Street estimates.

Macrotech Developers: Realty firm Macrotech Developers, also known as Lodha, reported a 10.6 per cent yearly drop in consolidated net profit to Rs 667 crore for the March quarter. The company, however, reported its best ever quarterly and annual pre-sales performance with robust margins.

Kotak Mahindra Bank: The Reserve Bank of India, on Wednesday, directed Kotak Mahindra Bank Ltd. to cease and desist the issue of fresh credit cards and the onboarding of new customers through its online and mobile banking channels with immediate effect due to lack of IT risk and information security governance for two consecutive years.

ITC: Ordinary shareholders of ITC will meet on June 6 to approve the demerger scheme.

Jubilant Pharmova: The United States Food and Drug Administration (USFDA) has concluded audit of the Radiopharmaceutical manufacturing facility at Montreal, Canada of Jubilant Draximage, a subsidiary of its wholly owned subsidiary Jubilant Pharma Limited. The USFDA has issued 5 observations pursuant to the completion of audit. The company will submit an action plan on the observations.

Reliance Industries: The company acquired a 100 per cent stake in MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV for Rs 1 crore.

Tata Motors: Tata Passenger Electric Mobility secured an order to supply 2,000 units of XPRES-T electric sedans from integrated fleet electrification platform Vertelo.

Andhra Paper: Andhra Paper has declared a ‘lockout’ of its Rajamahendravaram unit, citing the impact of the ongoing strike by the workers since April 2.

Rail Vikas Nigam Ltd: The KRDCL-RVNL joint venture emerged as the lowest bidder for a project worth Rs 439 crore from Southern Railway.

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