Stocks to watch: Axis Bank, Tata Power, Vedanta, Pnb Housing
Here is the list of the top 10 stocks likely to take center stage on Friday:
Axis Bank: The bank posted a 54% rise in profits in the fourth quarter after profits were helped by robust loan growth and lower provisions. Net profit was 41.2 billion rupees ($538 million) in the January-March quarter, down from 26.8 billion rupees a year earlier. That beat the average estimate of 39.1 billion rupees from 16 analysts in a Bloomberg survey.
Vedanta: Mining major Vedanta Ltd on Thursday announced a consolidated after-tax profit of ₹7,570 crore for the January-March quarter 2021-22 on higher sales volume, favorable raw material prices and operational efficiencies.
Buyers stop: The Shoppers Stop Ltd chain of stores announced on Thursday a reduction in its consolidated net loss to ₹15.85 crores for the fourth quarter ended March 2022. The company had recorded a net loss of ₹24.10 crores in the January-March quarter a year ago, according to a regulatory filing.
Biocon: The company announced on Thursday a 4% drop in its consolidated net profit at ₹283.9 crores in the fourth quarter ended March 31, 2022. The company, which recorded a consolidated net profit of ₹296.4 crore in the same quarter of the previous financial year appointed former HSBC India chairwoman Naina Lal Kidwai as an independent director, Biocon Ltd said in a regulatory filing.
Tata Power: The Tata Group company has signed a pact with the National Real Estate Development Council (NAREDCO) to install 5,000 electric vehicle charging stations in Maharashtra, according to a statement on Thursday. Tata Power will provide complete electric vehicle charging solutions at the properties of NAREDCO member developers, according to the statement.
Bajaj Holdings: Bajaj Holdings and Investment announced on Thursday that its consolidated net profit increased by 16% to reach ₹1,105 crores for the fourth quarter ended March. The company reported consolidated net income of ₹949 crores in the January to March quarter of the 2020-21 financial year.
Shriram Transport Funding: The non-banking financial company Shriram Transport Finance announced on Thursday a 43.87% increase in its after-tax autonomous profit at ₹1,086.13 crores in the quarter ended March 2022, driven by improved net interest margin and asset quality.
Ambuja cements: The company, which is part of the Swiss building materials group Holcim, announced on Thursday a drop of 30.26% in its consolidated net profit to ₹856.46 crores for the first quarter ended March 2022 due to rising fuel prices.
IIFL Finances: IIFL Finance on Thursday announced a 30% growth in net profit at ₹321 crore for the March quarter, driven by strong loan sales and lower provisioning for impaired assets.
GNP housing: The housing finance company announced a 33% jump in net profit on Thursday at ₹170 crore in the quarter ended March 2022. The housing finance company (HFC) had recorded a net profit of ₹127 crores in the same quarter a year earlier.