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Stocks to Watch: Kotak Mahindra Bank, DRL, Dixon, Britannia

On Thursday, indices fell over 2 per cent before making a recovery as the Sensex closed 581.21 points, or 1 per cent, lower at 57,276.94, and the Nifty ended in the red, down 167.8 points, or 0.97 per cent, to close at 17,110.20.Premium
On Thursday, indices fell over 2 per cent before making a recovery as the Sensex closed 581.21 points, or 1 per cent, lower at 57,276.94, and the Nifty ended in the red, down 167.8 points, or 0.97 per cent, to close at 17,110.20.

Shares of firms like Kotak Mahindra Bank, AU Small Finance Bank, Bajaj Healthcare, Bharat Electronics, Blue Dart Express, Britannia Industries, Central Bank of India, Century Plyboards, Crompton Greaves Consumer Electricals, Dixon Technologies (India), Dr.Reddy's Laboratories, Embassy Office Parks REIT will be in focus as they will announce their Q3 results today

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Here is the list of the top 10 stocks that are likely to be in focus on Friday:

 

Punjab National Bank: Punjab National Bank (PNB) on Thursday reported a two-fold jump in standalone net profit to 1,126.78 crore for the third quarter ended December, as bad loans marginally declined.

The country's second-largest public sector lender had earned a net profit of 506.03 crore in the year-ago period.

However, total income during October-December 2021 declined to 22,026.02 crore as against 23,298.53 crore a year ago, PNB said in a regulatory filing.

On the asset quality front, the bank witnessed slight improvement by cutting its gross non-performing assets (NPAs) as a percentage of gross advances to 12.88 per cent from 12.99 per cent by the same period a year ago.

Indus Towers: Telecom infrastructure company Indus Towers on Thursday posted about 16 per cent rise in consolidated profit at 1,570.8 crore for December quarter 2021-22.

The company had registered a profit after tax of 1,360 crore for the same period a year ago.

Revenue of the country's largest mobile tower firm was higher at 6,927 crore during the quarter compared to 6,736 crore in the corresponding period of 2020-21.

RBL Bank: Private sector lender RBL Bank on Thursday reported a 17.20 per cent dip in its December quarter net at 121.61 crore on slower loan growth and a rise in operating expenses.

The city-headquartered bank, which had witnessed RBI appointing an additional director last month which was followed by its long-standing head Vishwavir Ahuja proceeding on leave, however, sought to allay fears, terming October-December as a "turnaround" quarter.

Rajeev Ahuja, the interim chief executive and managing director, said the performance across businesses is looking good and the fourth quarter of FY22 and the time ahead will see it deliver better performance.

Colgate-Palmolive India: FMCG major Colgate-Palmolive India Ltd on Thursday reported an increase of 1.6 per cent in its net profit to 252.33 crore for the third quarter ended December 2021.

The company had posted a net profit of 248.36 crore in the corresponding quarter of the last financial year, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing.

Its revenue from operations during October-December 2021 increased 3.84 per cent to 1,271.29 crore, against 1,224.21 crore in the year-ago period.

Total expenses stood at 945 crore in the December 2021 quarter, a rise of 3.98 per cent as compared with 908.77 crore a year ago.

LIC Housing Finance: Mortgage lender LIC Housing Finance (LICHFL) on Thursday reported a 6 per cent increase in profit after tax at 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions.

It had reported a profit after tax of 727.04 crore in the same period of the previous fiscal.

"The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions.

"Even the provisions were less in the quarter because of the provisions we had made earlier," the company's Managing Director and CEO Y Viswanatha Gowd said.   

The lender reported better growth in the quarter due to higher disbursements during the festive season. 

Fino Payments Bank: Fino Payments Bank (Fino Bank) on Thursday reported a 116 per cent jump in net profit at 14.1 crore for the quarter ended December 2021 on the back of healthy income.

It had posted net profit of 6.52 crore in quarter ended December 2020.

Revenue during the quarter grew by 20 per cent year-on-year to 275.16 crore on the back of a 75 per cent growth in subscription income, Fino Bank said in a release.

Revenue from remittances grew 26 per cent y-o-y and 29 per cent sequentially in Q3 FY22.

MapmyIndia: Home-grown digital mapping firm CE Infosystems, which operates under the brand name of MapmyIndia, on Thursday reported a decline of about 14 per cent in its consolidated profit after tax (PAT) at 18.5 crore for the quarter ended December 2021.

The company had registered a consolidated PAT of 21.59 crore in the same period a year ago.

Consolidated revenue from operations fell by about 11 per cent to 43.37 crore during the reported quarter from 61.8 crore earlier.

BHEL: State-owned engineering firm BHEL on Thursday posted a consolidated net profit of 27.02 crore for December quarter 2021-22, mainly on the back of higher revenues.

The company had reported a net loss of 217.86 crore for the year-ago period, a BSE filing stated.

BHEL had also incurred a loss of 46.58 crore in the previous September quarter, as per the filing.

Total income of the company rose to 5,135.90 crore in December quarter, up from 4,451.36 crore in the same period a year ago.

Mahindra Logistics: Mahindra Logistics Ltd (MLL) reported a sharp 72 per cent year-on-year decline in profit after tax (PAT) to 5 crore for the December 2021 quarter.

The company had posted a PAT of 18 crore in the same quarter a year ago, MLL said in a statement.

The revenue, however, grew seven per cent to 1,118 crore during October-December 2021 as compared with 1,047 crore in the year-ago period, it said.

Revenue from warehousing services and solutions in the quarter grew 35 per cent in the same period last year underlining the focus on the solutions-led approach to customer's requirements, MLL said.

Home First Finance: Home First Finance Company reported a multifold jump in its net profit to 46 crore for the December 2021 quarter on the back of strong disbursals, with AUM reaching an all-time high of over 5,000 crore.

The technology-driven affordable housing finance company, which targets first-time homebuyers in low- and middle-income groups, had posted a net profit of 16 crore during the year-ago quarter of December 2020.

It disbursed the highest-ever loans worth 570 crore in the third quarter of FY22, a 63.3 per cent jump from 349 crore in the year-ago period, HomeFirst said in a statement on Thursday.

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