2023-05-02 05:31:02
Top 10 stocks to watch today
Kotak Mahindra Bank: Billionaire Uday Kotak-backed lender has registered double-digit growth in net profit for the fourth quarter of FY23. Kotak Mahindra Bank's Q4 PAT jumped by 26.31% YoY and 25.20% QoQ to ₹3,495.59 crore. The lender also declared a dividend of ₹1.5 per equity share for its shareholders. Kotak's net profit was at ₹2,767.4 crore in Q4FY22 and ₹2,791.88 crore in Q3FY23.
Reliance Industries: Reliance Industries Ltd and its partner BP of the UK have offered for auction 6 million standard cubic metres per day of more gas from their KG-D6 block as the partners bring the deepest field in the block to production. The two partners will on May 19 e-auction 6 mmscmd of gas, whose supplies will start from June 1, according to a tender document.
Adani Green: Adani Green Energy on Monday posted a rise of 319% in consolidated net profit to ₹507 crore for the quarter ended March 2023. This is against a net profit of ₹121 crore in the corresponding quarter last fiscal. The Adani firm's total income rose 88% to ₹2,988 crore in Q4FY23 as compared to ₹1,587 crore in Q4FY22.
Maruti Suzuki: Maruti Suzuki India registered a 7% increase in total wholesales in April this year, the company announced. The automaker sold 1,60,529 units of passenger vehicles last month, compared to 1,50,661 units in April 2022. In a statement, it revealed that its domestic sales rose 9% to 1,43,558 units in April 2023 as against 1,32,248 units in April 2022.
Ultratech Cement: Ultratech Cement Ltd on Friday reported a net profit of ₹1,666 crore for the quarter ended 31 March, a 32.3% decline from ₹2,460.51 crore posted in the same period a year earlier. However, last year’s profit included one-time gains, and excluding the same, the normalized profit stood at ₹1,478 core, Ultratech said.
Tata Motors: Tata Motors Limited on Monday announced its total wholesale sales for the April 2023 period. Its total wholesales declined by 4% to 69,599 units in April, as compared with the same month last year. The company sold 72,468 units in April 2022. The auto major said its total domestic sales declined by 4% to 68,514 units last month, as compared with 71,467 units in the year-ago period, said Tata Motors.
Vedanta: Mining mogul Anil Agarwal has said his Vedanta group has ample cash flow to service all its debt repayment obligations and that it aims to become a "net zero debt company" in 2-3 years. Agarwal said questions over Vedanta's debt servicing ability are "absolutely irrelevant" as the group will make USD 9 billion of profits next year on revenue of USD 30 billion, which would be sufficient to meet all obligations.
NTPC: State-owned power giant NTPC on Monday inked a joint venture pact with Nuclear Power Corporation of India for the development of nuclear power projects. The joint venture company will initially develop two Pressurised Heavy-Water Reactor (PHWR) projects, Chutka Madhya Pradesh Atomic Power Project 2x700 MW and Mahi Banswara Rajasthan Atomic Power Project 4x700 MW, which were identified as a part of fleet mode nuclear projects.
IDFC First Bank: IDFC First Bank witnessed strong growth in earnings for the fourth quarter of FY23. The lender's net profit in Q4FY23 more than doubled to ₹803 crore which is the highest ever in a quarter, while recording double-digit growth in net interest income (NII). At the bank, customers' deposits and loan books stood strong.
SBI Cards and Payment Services: SBI Cards and Payment Services Ltd on Friday reported a rise of 2.7% to ₹596.5 crore for the quarter ended 31 March 2023. This is against a net profit of Rs581 crore in the corresponding quarter last fiscal. The revenue from the operations rose by 32% at ₹3,762.2 crore in the quarter under review from ₹2,850.3 crore in the year-ago period, said SBI Card in the regulatory filing.
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