2023-04-28 05:31:01
Top 10 stocks to watch today
Wipro: Wipro posted a mixed performance in terms of profitability for Q4FY23 as it posted a consolidated net profit of ₹3,074.5 crore in Q4FY23, which is a couple of crores lower than a profit of ₹3,087.3 crore a year ago same period. However, Q4 PAT inched up by 0.71% from ₹3,052.9 crore in the preceding quarter. These profits are attributable to the owners of the company.
Axis Bank: Axis Bank reported a surprise net loss of ₹5,728 crore in the March quarter from a year-earlier profit as expenses relating to the acquisition of Citibank’s consumer business in India took a toll. Excluding the Citi deal, the private lender would have reported a net profit of ₹6,625 crore in the fiscal fourth quarter ended 31 March.
Godrej Consumer Products/Raymond: Godrej Consumer Products Ltd said on Thursday it is acquiring the consumer goods business of Raymond Consumer Care Ltd for $345 million, bolstering its portfolio of brands in the country's fast-growing retail market. Raymond Ltd will sell its popular brands such as the Park Avenue deodorant and Kamasutra condoms to Godrej as part of the deal, which will turn it debt-free and reduce the number of business lines, its chairman Gautam Singhania said in a press conference.
Maruti Suzuki: Maruti Suzuki expects a shortage of semi-conductor chips to continue to impact production in the fiscal year 2024, with visibility of chip supply in the first month of the ongoing quarter looking worse than the last quarter of the fiscal ended 31 March, RC Bhargava, chairman, Maruti Suzuki said.
Tech Mahindra: Mahindra & Mahindra group’s blue-chip IT entity, Tech Mahindra, reported a 27.2% year-on-year decline in its net profit to ₹1,124.9 crore, as a contraction in its BFSI vertical dragged financials for the quarter-ended March (Q4FY23). Its rupee revenue rose around 13.2% y-o-y to ₹13,718.2 crore during the quarter under review, even as deal momentum slipped 44% compared to Q4FY22.
ACC: ACC Ltd,’s reported net profits for the quarter ending December at ₹236 Crore though came substantially lower than ₹396 crore in the year-ago quarter impacted by higher costs. However, on a sequential basis, they rebounded well and more than doubled from ₹113 Crore in the previous quarter.
Adani Green Energy: Adani Group is mulling to raise nearly USD 800 million for new green energy projects, news agency Bloomberg reported Thursday, citing people familiar with the matter. The Indian conglomerate is in discussions with global banks, including SMBC, DBS Bank Ltd, Mitsubishi UFJ Financial Group and Standard Chartered Plc.
Indian Hotels Company: Tata group hospitality firm Indian Hotels Company Ltd on Thursday reported a 65% increase in consolidated revenue from operations at ₹5809.9 crore in the current fiscal FY22-23, over last year’s ₹3056.22 crore. The company has also reported a 510% increase in annual profit of ₹1084.46 crore over the previous fiscal loss of ₹264.9 crore in the previous year.
SpiceJet: Airline carrier SpiceJet on Thursday announced the appointment of Arun Kashyap as its Chief Operating Officer. The appointment of Arun Kashyap will be effective from June 12 and he will report to the airline's Chairman and Managing Director Ajay Singh, SpiceJet said in a release. He will be rejoining SpiceJet from Air India where he is the Chief Technical Officer. Earlier, he had served as the Chief Program & Transformation Officer at SpiceJet.
Indus Towers: India’s largest mobile phone tower provider said that it had received a significant portion of dues from Vodafone Idea for the January-March quarter, even as it was engaged with the third largest carrier for recovering dues dating prior to December 2022 according to an ongoing payment plan.
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