Stocks to Watch: Axis Bank, Tata Power, Vedanta, PNB Housing
Premium- Indian indices edged higher on Thursday led by healthy gains in power, FMCG, and banking stocks as positive global trends boosted market sentiments.
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Here is the list of the top 10 stocks that are likely to be in focus on Friday:
Axis Bank: The bank posted a 54% rise in fourth-quarter profit after earnings were helped by robust growth in loans and lower provisioning. Net income was 41.2 billion rupees ($538 million) in the January to March quarter, compared with 26.8 billion rupees a year earlier. That beat the average estimate of 39.1 billion rupees from 16 analysts in a Bloomberg survey.
Vedanta: Mining major Vedanta Ltd on Thursday reported a consolidated profit after tax of ₹7,570 crore for the January-March quarter of 2021-22 on the back of higher sales volume, supportive commodity prices and operational efficiencies.
Shoppers Stop: Retail chain Shoppers Stop Ltd on Thursday reported narrowing of its consolidated net loss to ₹15.85 crore for the fourth quarter ended March 2022. The company had posted a net loss of ₹24.10 crore in the January-March quarter a year ago, according to a regulatory filing.
Biocon: The firm on Thursday reported a 4 per cent decline in consolidated net profit to ₹283.9 crore in the fourth quarter ended on March 31, 2022. The company, which posted a consolidated net profit of ₹296.4 crore in the same quarter previous fiscal, has appointed former HSBC India Chairperson Naina Lal Kidwai as an independent director, Biocon Ltd said in a regulatory filing.
Tata Power: The Tata group firm has inked a pact with National Real Estate Development Council (NAREDCO) to install 5,000 EV charging points across Maharashtra, a statement said on Thursday. Tata Power will provide a comprehensive EV charging solutions across properties of member developers of NAREDCO, the statement said.
Bajaj Holdings: Bajaj Holdings and Investment on Thursday said its consolidated net profit increased 16 per cent to ₹1,105 crore for the fourth quarter ended March. The company had reported a consolidated net profit of ₹949 crore in the January-March quarter of 2020-21 fiscal.
Shriram Transport Finance: Non-banking financial company Shriram Transport Finance on Thursday reported a 43.87 per cent jump in its standalone profit after tax at ₹1,086.13 crore in the quarter ended March 2022, on the back of improvement in the net interest margin and asset quality.
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Ambuja Cements: The firm, part of Swiss building material major Holcim Group, on Thursday reported a 30.26 per cent decline in its consolidated net profit to ₹856.46 crore for the first quarter ended March 2022 on account of rising fuel prices.
IIFL Finance: IIFL Finance on Thursday reported a 30 per cent growth in net profit to ₹321 crore for the March quarter, driven by strong loan sales and lower provisioning for impaired assets.
PNB Housing: The housing finance firm on Thursday reported a 33 per cent jump in its net profit to ₹170 crore in quarter ended March 2022. The housing finance company (HFC) had posted a net profit of ₹127 crore in the same quarter a year earlier.
