Stocks to Watch: Axis Bank, Tata Power, Vedanta, PNB Housing

Market


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

Axis Bank: The bank posted a 54% rise in fourth-quarter profit after earnings were helped by robust growth in loans and lower provisioning. Net income was 41.2 billion rupees ($538 million) in the January to March quarter, compared with 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 reported a consolidated profit after tax of 7,570 crore for the January-March quarter of 2021-22 on the back of higher sales volume, supportive commodity prices and operational efficiencies.

Shoppers Stop: Retail chain Shoppers Stop Ltd on Thursday reported narrowing of its consolidated net loss to 15.85 crore for the fourth quarter ended March 2022. The company had posted a net loss of 24.10 crore in the January-March quarter a year ago, according to a regulatory filing.

Biocon: The firm on Thursday reported a 4 per cent decline in consolidated net profit to 283.9 crore in the fourth quarter ended on March 31, 2022. The company, which posted a consolidated net profit of 296.4 crore in the same quarter previous fiscal, has appointed former HSBC India Chairperson Naina Lal Kidwai as an independent director, Biocon Ltd said in a regulatory filing.

Tata Power: The Tata group firm has inked a pact with National Real Estate Development Council (NAREDCO) to install 5,000 EV charging points across Maharashtra, a statement said on Thursday. Tata Power will provide a comprehensive EV charging solutions across properties of member developers of NAREDCO, the statement said.

Bajaj Holdings: Bajaj Holdings and Investment on Thursday said its consolidated net profit increased 16 per cent to 1,105 crore for the fourth quarter ended March. The company had reported a consolidated net profit of 949 crore in the January-March quarter of 2020-21 fiscal.

Shriram Transport Finance: Non-banking financial company Shriram Transport Finance on Thursday reported a 43.87 per cent jump in its standalone profit after tax at 1,086.13 crore in the quarter ended March 2022, on the back of improvement in the net interest margin and asset quality.

Ambuja Cements: The firm, part of Swiss building material major Holcim Group, on Thursday reported a 30.26 per cent decline in its consolidated net profit to 856.46 crore for the first quarter ended March 2022 on account of rising fuel prices.

IIFL Finance: IIFL Finance on Thursday reported a 30 per cent growth in net profit to 321 crore for the March quarter, driven by strong loan sales and lower provisioning for impaired assets.

PNB Housing: The housing finance firm on Thursday reported a 33 per cent jump in its net profit to 170 crore in quarter ended March 2022. The housing finance company (HFC) had posted a net profit of 127 crore in the same quarter a year earlier.

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