Stocks to Watch: Adani Power, Tata Technologies, HDFC Bank, SBI Card, Vedanta

Adani Power: The Adani Group company saw its consolidated net profit increase more than more than 300-fold to ₹ 2,738 crore in the December quarter from ₹8.8 crore a year ago. Consolidated revenue from operations rose 67.3% year-on-year to ₹12,991.4 crore.

SBI Cards and Payment Services: The company clocked 7.8% year-on-year growth in profit to ₹549 crore in the December quarter. Revenue from operations rose 31.8% to ₹4,622 crore.

Tata Technologies: The firm registered 14.7% year-on-year growth in consolidated profit at ₹170.22 crore in the December quarter. Revenue from operations grew 14.7% to ₹1,289.5 crore.

Vedanta: The mining company reported a 18.3% drop in profit at ₹2,013 crore for the December quarter despite healthy operating numbers, thanks partly to increased finance costs. Revenue from operations rose 4.2% to ₹35,541 crore.

HDFC Bank: LIC has received the RBI’s approval to increase its stake in HDFC Bank to 9.99%. LIC currently holds a 5.19% stake, valued at nearly ₹50,000 crore.

Sanghi Industries: Net loss widened to ₹201 crore in the December quarter from ₹118 crore a year ago thanks to higher expenses. Net sales were up 42.4% to ₹189.1 crore but expenses rose 31.8% to ₹332.6 crore. Ebitda loss also widened to ₹22.8 crore from ₹18.8 crore last year because of higher finance costs.

Laurus Labs: The company has entered into a joint-venture agreement with KRKA, Slovenia, for the production of finished products for new markets, including India.

Capri Global: The board has approved the issue of bonus shares in the ratio of 1:1. It has also approved a split of equity shares in the ratio of 1:2, meaning one share with a face value of ₹2 will be split into two shares with face value of ₹1 each.

Piramal Enterprises: The company has agreed to sell its 20% direct equity investment in Shriram Investment Holdings Pvt Ltd to Shriram Ownership Trust for ₹1,440 crore. The transaction is expected to be completed by March 31. Last June, Piramal Enterprises sold its entire 8.3% stake in Shriram Finance for ₹4,824 crore through several block deals.

Shriram Finance: The company reported 2.3% year-on-year growth in net profit at ₹1,818.3 crore for December quarter. Net interest income increased 17.1% to ₹4,911 crore from ₹4,192.1 crore a year ago.

Yes Bank: The private-sector lender reported a 345% year-on-year rise in net profit in the December quarter, but missed estimates. Net profit came in at ₹231.5 crore, against ₹52 crore a year ago. Core income, or net interest income, for the quarter rose 2.3% year-on-year to ₹1,194.6 crore.

Zen Technologies: The company’s December-quarter revenue was up three-fold from a year ago, while net profit grew five-fold and the Ebitda margin expanded to 45% from 25.3%. The board also approved raising ₹1,000 crore via a QIP or other methods.