Home / Markets / Stock Markets /  Stocks to Watch: Bajaj Finance, Reliance, Bajaj Auto, Axis Bank, Laurus Labs

Stocks to Watch: Bajaj Finance, Reliance, Bajaj Auto, Axis Bank, Laurus Labs

Any debt investment is exposed to various risks, prominent ones being credit risk and interest rate risk. Photo: iStockPremium
Any debt investment is exposed to various risks, prominent ones being credit risk and interest rate risk. Photo: iStock

  • Bajaj Auto and Asian Paints are the Nifty companies that will report their earnings on Thursday. Other companies which will also announce their results today include Bandhan Bank, SBI Cards & Payment Services, Biocon, JK Tyre, JSPL and Westlife Development

Here’s a list of top ten stocks that may be in news on Thursday:

Bajaj Finance: The lender reported a 29% year-on-year (y-o-y) decline in consolidated net profit at 1,145.98 crore for the three months to December, owing to higher losses and provisions. Net interest income (NII) was down 5% y-o-y to 4,296 crore. FY22 onwards, the company expects loan losses and provisions to revert to pre-covid-19 levels of 160-170 bps of average assets.

Reliance Industries: SEBI on Wednesday granted approval to the Future Group and Reliance Retail deal. In August, Kishore Biyani led-Future Group had entered into a 24,713 crore agreement with Mukesh Ambani's Reliance Retail. As part of the deal, Future Group was to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Ventures (RRVL).

Bajaj Auto: The two-wheeler major will announced its earnings today. The company reported better-than-expected earnings for the quarter ended September with profit rising 22% to 1,402 crore. Revenue from operations had dipped 4%.

Piramal Enterprises: The bankrupt mortgage lender is set to delist the shares of Dewan Housing Finance Corp and merge it with Piramal Capital Housing Finance Ltd, Mint reported. The proposed plan is expected to lead to major losses for DHFL shareholders as it does not envisage any offer to buy out the shares held by these investors, unlike a regular delisting process.

Axis Bank: Competition Commission of India on Wednesday approved the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital and Axis Securities. As per the combination notice filed with CCI, the shareholding of Axis Bank in Max Life will increase to 9.9%. Currently, the bank holds about 1% stake in Max Life and is also the biggest distributor of the insurer's products through banking channel.

Laurus Labs: The company has acquired majority stake in Bengaluru-based biotech company Richcore Lifesciences marking its entry into the biotechnology segment. In a regulatory filing in November last year, Laurus Labs had said it has signed definitive agreements with Eight Roads Ventures and VenturEast Proactive Fund and VenturEast Life Fund III, to acquire 72.55% stake in Richcore by way of cash consideration of 246.67 crore.

Aditya Birla Fashion and Retail: The CCI approved the 1,500-crore deal between the company and Flipkart, which will help the Walmart Inc.-owned e-tailer consolidate its position in the apparel business. The deal, which was announced last October, will help Aditya Birla Fashion cut its debt and expand into new apparel categories and give Flipkart a significant edge over Amazon.

Asian Paints: The company will announce its earnings on Thursday. The paints major posted a 21% rise in second-quarter profit to Rs576 crore in the quarter ended September. Revenue from operations had risen 2.3% to Rs4,274 crore in Q2.

L&T Technology Services: The company's consolidated net profit fell 8.8% to 186 crore in the December quarter. Its revenue declined 1.6% to 1,401 crore in the quarter. On a sequential basis, profit rose 12.4%, while revenue increased 6.6%.

Havells India: The company reported a net profit of 3.49 billion in the December quarter against 1.99 billion a year ago. Revenue from operations rose to 31.66 billion versus 22.7 billion a year ago. The company declared an interim dividend of 3 per share.

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