Stocks to Watch: Axis Bank, Maruti Suzuki, Zomato, Tata Motors, Nykaa
- Maruti Suzuki, HDFC Asset Management Company, Colgate-Palmolive, CG Power and Industrial Solutions, Macrotech Developers, Nazara Technologies, PNB Housing Finance, SBI Cards and Payment Services, TVS Motor Company are among the key companies scheduled to announce earnings today
New Delhi: Following are among the 10 stocks that could be in focus in trade on Tuesday:
Axis Bank: The private sector lender has reported a 56% year-on-year increase in its December quarter consolidated net profit to ₹6,187.38 crore, helped by a healthy core income growth aided by widening margins. Core net interest income was up 32% at ₹11,459 crore.
Maruti Suzuki: India's largest carmaker will detail its fiscal third quarter results (Q3FY23) today. Analysts largely expect Maruti Suzuki to report strong year-on-year growth led by higher sales, better product mix, and higher realisations. Separately, the company on Monday said it was recalling 11,177 Grand Vitara vehicles to address a possible defect in rear seat belt mounting brackets, its second recall within a week.
Zomato: The food tech platform has disabled the option to place orders on its app via a 10-minute service, called Zomato Instant, since the beginning of this year as it struggled to find ways of growing the service. The offering was piloted in Delhi-NCR and Bengaluru last year. The company has said it is working on a new menu and rebranding the business.
Tata Motors: Has said that the voluntary delisting of its American Depositary Shares, representing ordinary shares, from the New York Stock Exchange will become effective close of trading on 23 January 2023. There will be no over-the-counter market trading of the American Depositary Shares (ADSs) in the US due to regulatory restrictions under the Indian law, Tata Motors said in a regulatory filing.
Max Financial Services: PE funds Bain Capital and CVC Capital Partners are among those assessing buying promoter stake in Max Financial Services, the Economic Times has reported. Max Financial, the country's largest non-bank private life insurance company, is the parent of Max Life Insurance in which Axis Bank is a co-promoter with a 12.99% stake. Mitsubishi Sumitomo Insurance owns 21.86% stake in Max Financial Services.
Jaypee Infratech: Banks have completed the transfer of ₹9,234 crore of Jaypee Infratech loan to the National Asset Reconstruction Company (NARCL), marking the first acquisition for the government-backed bad-loan aggregator a year after the company started operations.
Nykaa: FSN E-Commerce Ventures, the operator of beauty retailer Nykaa, said its board members have appointed P Ganesh as chief financial officer and key managerial personnel of the company effective 3 February 2023.
Coal India: The coal major's subsidiary Mahanadi Coalfields is in the process of diversifying into power generation and will set up a coal-based plant entailing an investment of around ₹12,000 crore in Odisha.
Gland Pharma: The pharma company has reported a 15% year-on-year decline in its profit at ₹232 crore for the December quarter with lower topline as well as weak operating performance. Revenue from operations for the quarter fell 12% on year to ₹938 crore.
Dilip Buildcon: The company’s joint venture with Skyway Infraprojects has been declared the lowest bidder for a ₹1,947 crore project floated by Madhya Pradesh Jal Nigam Maryadit, Bhopal. Also, its subsidiary Raipur-Visakhapatnam-CG-2 Highways Ltd. has received the appointed date letter from the National Highways Authority of India and had declared the appointed date as 9 January.
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