ICICI Bank reported a 17.73 % jump in its December quarter consolidated net profit to ₹5,498.15 crore, helped by higher core income but experienced a surge in bad assets from its retail loans
NEW DELHI :
With just a few hours to go before finance minister Nirmala Sitharaman announces the Union Budget for fiscal 2022, here’s a list of stocks that maybe in focus today:
ICICI Bank: The Mumbai-headquartered lender on Saturday reported a 17.73 % jump in its December quarter consolidated net profit to ₹5,498.15 crore, helped by a jump in core income but experienced a surge in bad assets from its retail loans. On a standalone basis, ICICI Bank showed a 19.12% rise in the post-tax profit to ₹4,939.59 crore for the reporting quarter, up from ₹4,146.46 crore in the October-December 2019 period.
Tech Mahindra: IT services exporter Tech Mahindra reported a 14.3% jump in its December quarter net profit at ₹1,309.8 crore driven largely by improving profit margins while the revenues remained stable. The Mahindra Group company had registered a net profit at ₹1,145.9 crore in the year-ago period and ₹1,064 crore in the preceding September quarter.
Shree Cements: The company posted over two-fold jump in consolidated net profit to ₹631.58 crore for the third quarter ended December 31, 2020. It had reported a net profit of ₹311.83 crore in October- December period a year ago, Shree Cements said in a filing to BSE.
Bharti Airtel: The board of directors of the company in its meeting scheduled on 3rd February will consider routine financing/ re-financing strategies and any consequent raising of capital through various instruments subject to applicable statutory approvals, Bharti Airtel said in a BSE filing.
Amber Enterprises: The company reported a revenue of ₹765 crore in Q3FY21 versus ₹788 in the Q3FY20. Operating EBIDT stood at ₹62 crore in the quarter ended 31 December against ₹52 crore in the same quarter of the previous fiscal. PAT rose marginally to ₹28 crore in the period under review from ₹25 core in Q3FY20.
Vedanta: The company on Friday reported a 59% jump in its consolidated profit to ₹4,224 crore for the quarter ended on December 31, 2020. Vedanta Ltd had posted a profit after share in profit/loss of jointly controlled entities and associates of ₹2,665 crore in the year-ago period, Vedanta said in a regulatory filing to the BSE.
Cipla: Drug major Cipla reported an over two-fold increase in consolidated net profit to ₹751.61 crore for the quarter ended December 31, 2020 on account of higher revenue from operations. The company had posted a net profit of ₹339.38 crore for the corresponding period of the previous financial year.
Happiest Minds Technologies: The company has signed definitive agreements to acquire US-based Pimcore Global Services for $8.25 million (about ₹60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company.
Coromandel International: Crisil has reaffirmed its rating on the Coromandel’s commercial papers and bank loan facilities worth ₹11,000 crore. The rating agency has maintained ‘A1+’ on commercial papers worth ₹2,000 crore; ‘AA+/Stable’ on long-term loan facilities and ‘A1+’ on short-term loan facilities worth ₹7,000 crore.
SJVN: State-owned SJVN Ltd has bagged a 679 MW hydro-electric project in Nepal, the power ministry said in a statement on Saturday.
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