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Business News/ Markets / Stock Markets/  Stocks to Watch: Adani Power, Tata Technologies, HDFC Bank, SBI Card, Vedanta
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Stocks to Watch: Adani Power, Tata Technologies, HDFC Bank, SBI Card, Vedanta

Here are some stocks to watch out for ahead of Monday’s trading session.

Yes Bank reported a 345% year-on-year rise in net profit in the December quarter, but missed estimates. Photo: ReutersPremium
Yes Bank reported a 345% year-on-year rise in net profit in the December quarter, but missed estimates. Photo: Reuters

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.

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ABOUT THE AUTHOR
Zaheer Merchant
Zaheer is part of the team that edits and curates Mint's premium content, including Mark To Market pieces, SnapViews and Explainers. He has more than 20 years of experience in journalism, with stints at Mid Day, Mumbai Mirror, Hindustan Times, ESPN and The Economic Times.
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Published: 29 Jan 2024, 07:09 AM IST
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