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Photo: Mint
Photo: Mint

Stocks to Watch: HUL, Axis Bank, Bajaj Finserv, Cipla, Yes Bank, CSB Bank

  • Hindustan Unilever on Tuesday reported a 7.1% year-on-year jump in its June quarter net profit to 1,881 crore
  • Axis Bank reported a net profit of 1,112.17 crore in the June quarter of FY21, down 18.8% y-o-y, owing to higher provisions

NEW DELHI : Here’s a list of stocks that may be in news on Wednesday:

HUL: India’s largest packaged consumer goods company, Hindustan Unilever, on Tuesday reported a 7.1% year-on-year jump in its June quarter net profit to 1,881 crore. The company’s revenues rose 4.4% during the period under review to 10,560 crore.

Axis Bank: Private sector lender Axis Bank on Tuesday reported a net profit of 1,112.17 crore in the June quarter of FY21, down 18.8% from the same period last year, owing to higher provisions. The bank total provisions and contingencies stood at 4,416.42 crore, up 15.7% on a year-on-year basis. However, provisions were down from 7,730 crore in the sequential quarter.

Bajaj Finserv: The company reported a 44% rise in consolidated net profit to 1,215 crore in the first quarter ended June of the current fiscal year, mainly on the back of good earnings from its insurance subsidiaries. Bajaj Finserv had posted a net profit of 845 crore during the corresponding June quarter of 2019-20.

Indiamart Intermesh: B2B e-commerce company Indiamart Intermesh on Tuesday posted an over two-fold jump in its consolidated profit at 76.4 crore in the first quarter ended June 30, 2020. The company had recorded 32.1 crore profit in the same period a year ago.

Cipla: The company's step-down wholly owned subsidiary, Cipla Pharma Lanka (CPL) has been amalgamated with its another step-down wholly owned subsidiary, Breathe Free Lanka (BFL), with effect from May 01, 2020. "Upon amalgamation into BFL, CPL stands dissolved without winding up," Cipla said in a regulatory filing.

CSB Bank: The bank’s total deposits grew 7.51% year-on-year to 16337.95 crore in the first quarter of FY21. Advances against gold and gold jewellery increased 28.32% to 3843.50 in the period under review, CSB Bank said in a quarterly update.

IHCL: Hospitality major Indian Hotels Company Ltd on Tuesday said it has inked pact to acquire the remaining 14.28% stake in ELEL Hotels and Investment from the Nanda family. The deal will make the company 100% leasehold owner of the Sea Rock hotel site in Mumbai by the end of December, 2021.

Yes Bank: The 15,000-crore equity capital raising by Yes Bank is credit positive for the lender as it strengthens the core capital and loss-absorbing buffers, besides reducing default risks for creditors, a report by global ratings agency Moody's said on Tuesday.

Godrej Agrovet: The company on Tuesday announced purchase of an additional 0.90% stake in its subsidiary, Godrej Maxximilk. With this, Godrej Agrovet's total shareholding in Godrej Maxximilk has increased from 74% to 74.90%.

Earnings: Alembic Pharmaceuticals, Larsen & Toubro, Jindal Steel & Power, and Bajaj Auto among other companies will announce their earning for the quarter ended 30 June today.

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