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A slew of stocks will hog the limelight for the following reasons:
HDFC Bank: The lender on Saturday reported 19% year-on-year (YoY) rise in net profit for the quarter ended December to Rs 12,259 crore. Net interest income increased nearly 25% on year to Rs 22,988 crore, and this was the best growth seen by the bank in atleast three quarters. Operating profit increased by 13.4% YoY to Rs 19,024 crore.
Provisions and contingencies for the quarter dropped 6.3% YoY to Rs 2,806 crore.
Wipro: The company reported a 2.8% year-on-year (YoY) rise in consolidated net profit for the December quarter to Rs 3,053 crore, which topped ET Now poll of Rs 2,950 crore. Consolidated revenue increased 14.3% YoY to Rs 23,229 crore. For FY23, the company expects revenue growth from the IT services business to be in the range of 11.5-12.0%, in constant currency terms. This is much slower than the strong 27% growth it had reported for FY22.
: The operator of DMart chain of hypermarkets on Saturday reported a 6.7% YoY rise in consolidated net profit for the quarter ended December to Rs 590 crore. But the bottomline was way below the estimated figure of Rs 672 crore. Consolidated revenue increased 25.5% on year to Rs 11,569.05 crore, but higher expenses led to a sharp contraction in the profitability. Operating margin contracted by a sharp 106 basis points to 8.34%.
: The shares will trade ex-dividend with respect to both special and interim dividend announced. The company announced a special dividend of Rs 67 and an interim dividend of Rs 8 per share, respectively. The record date to determine the shareholders’ eligibility for the said dividend is January 17.
L&T Finance Holdings: The company’s consolidated net profit rose 47% on year to Rs 453 crore in the December quarter, aided by strong retail disbursements. Retail disbursements jumped 53% higher on year and 13% sequentially to Rs 11,607 crore.
Just Dial: The company reported a nearly 4-fold jump in consolidated net profit for the December quarter to Rs 75.3 crore. Revenue from operations increased over 39% on year to Rs 221.4 crore.
Sula Vineyards: The company has recorded the highest-ever quarterly sales in the December quarter. The company’s sales rose 13% on year to Rs 187 crore on the back of strong volume growth and higher pricing.
: The company has received an order worth Rs 412 crore from Delhi Metro Rail Corp Ltd for the construction of an elevated viaduct and four stations of Delhi’s mass rapid transit system. The project is expected to be completed in 2 years.
: The company has received an order worth Rs 14 crore from
to supply screw pumps and spare parts. The order is expected to be completed by August.
: The bank has appointed Sekhar Rao as an additional director for the role of executive director for three years.
: The company will close its public issue of non-convertible debentures worth up to 4 bln rupees by Monday, the company informed exchanges today. The issue, which had opened for subscription on Tuesday, was earlier scheduled to close on Jan 23. The issue had a base size of 2 bln rupees and a greenshoe option of 2 bln rupees.
: The company has appointed Narasimhan Eswar as managing director, effective April 4 for 5 years. Eswar’s appointment comes following Vishal Bhola, the current managing director’s resignation.
: The lender has hiked its marginal cost of funds-based lending rates (MCLR) for 1-year by 10 basis points to 8.40% from Sunday. Rates on the bank’s loans will be in the range of 7.85-8.60%.
: The company said that it is in discussions with the Madhya Pradesh government to explore the possibility of setting up an amusement park in the state.
Dr Reddy’s Laboratories: The drugmaker has acquired trademark rights for breast cancer drug Palbociclib from Pfizer Products India for use in the Indian market.
: The company has purchased 4.35 acres land in Singasandra, Bengaluru, to build a residential project with premium apartments.
: The multibagger stock from the gems and jewellery segment will release its quarterly results. The company’s stock in the last 3 years has reaped a return of 135%. In the board meeting, the company will also consider an interim dividend.
: The board of the lender will meet to consider and approve quarterly earnings. The stock in the last 1 year has generated 38% returns.
: The board of the state-owned bank will meet to consider and approve results for the December quarter. This is a multibagger stock that in the last 3 years has generated a return of 141%.
: The garments and apparels company is scheduled to meet for considering bonus share issue and stock split. The company’s stock in a 1-year period has generated a return of 578%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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