Asian Paints, Bajaj Auto, Bharti Infratel, HDFC Asset Management Company, SBI Cards and Payment Services, Hexaware Technologies are among the 48 companies scheduled to announce their quarterly earnings today
NEW DELHI: Here is the list of top 10 stocks that may be in focus on Thursday:
Bank stocks: Banks and non-banking financial companies (NBFCs) must raise capital and undertake stress test as soon as the covid-19 pandemic is over to build resilience and to be able to provide capital to the economy to ensure growth, Reserve Bank of India (RBI) governor Shaktikanta Das has said.
Auto stocks: Rating agency ICRA on Wednesday said it expects 16-18% contraction in two wheeler volumes this fiscal. "ICRA continues to maintain its expectation of 16-18 per cent year on year contraction in two-wheeler volumes in FY2021, amid an evolving COVID-19 situation and economic uncertainties," the rating agency said in a statement.
Bajaj Financial Services: The company reported a net profit of ₹986 crore for the September ended quarter, down from ₹1,204 crore in the year-ago period. Revenue rose to ₹15,052 crore from ₹14,224 crore year-on-year.
Zee Entertainment Enterprises: Has announced strategic restructuring of the firm and a bunch of new appointments. Former BCCI CEO Rahul Johri has been appointed president, business, South Asia, and will be responsible for leading the integrated revenue and monetisation team while Punit Misra will take over as president, content and international markets.
UltraTech Cement: The cement maker reported a 113% year-on-year jump in its September quarter net profit to ₹1,234 crore. Net sales rose 7.8% to ₹10,231 crore from ₹9,486 crore. Operating margins were robust at 27%, driven by both revenue growth and tight cost management.
DLF Ltd: The company's rental arm on Wednesday said it has inked an anchor lease deal of 7.7 lakh sq ft with Standard Chartered GBS for an upcoming office project at DLF Downtown, Chennai.
L&T Infotech: India’s sixth largest software services firm reported revenue growth of 2.3% in constant currency terms, much ahead of the Street’s 1-1.5% expectation. Revenue growth was led by banking, financial services and insurance vertical which grew 9.5% sequentially and accounted for 90% of the incremental revenue uptick in the quarter.
Nestle India: Packaged food and beverage company Nestle on Wednesday said its India business reported strong mid-single-digit growth in the third quarter, with good momentum in Maggi, Nescafé, and KitKat brands.
Kirloskar Brothers and Kirloskar Industries: The Securities and Exchange Board of India (Sebi) on Wednesday charged the three Kirloskar brothers — Atul, Rahul and Sanjay — and their family members with alleged violation of regulations. It also barred Rahul and Atul Kirloskar from the securities market for six months. Sanjay Kirloskar, promoter of Kirloskar Brothers, and related parties have been asked to pay ₹47 lakh in penalties. Rahul and Atul Kirloskar, promoters of Kirloskar Industries, have been asked to cough up ₹28 crore plus interest of 4% per annum for 10 years.