Stocks in news: Axis Bank, Info Edge, Bajaj Finance, Britannia TVS Motor, Sanofi India and more
Sensex and Nifty are likely to open lower today as Nifty futures on the Singapore Exchange traded 58.50 points, or 0.40 per cent, lower at 14,692. On Tuesday, benchmark indices ended higher for the second straight session today on heavy buying in banking and finance stocks. Sensex climbed 557 points to 48,944 and Nifty surged 168 points to 14,653. Here’s a look at stocks which may remain in news today.
Info Edge: The board of directors has cleared sale of the company’s stake worth Rs 750 crore in Zomato during the latter’s upcoming initial public offering (IPO). The parent company will offload the shares via offer for sale.
Axis Bank: The lender reported a net profit of Rs 2,677 crore in Q4 as against a net loss of Rs 1,388 crore in the year-ago period. On a quarter-on-quarter basis, net profit rose 140 per cent.
Bajaj Finance: The largest NBFC reported a 42% rise in consolidated net profit at Rs 1,347 crore in Q4 due to improved asset quality. The company said it can mitigate any disruption caused by the second wave of covid infections in the first quarter.
Britannia Industries: The firm reported a 3% decline in consolidated net profit at Rs 360.07 crore in Q4, affected by rise in commodity prices. Consolidated total revenue from operations rose 9% to Rs 3,130.75 crore.
TVS Motor: The auto firm reported nearly four-fold rise in its consolidated net profit to Rs 319.19 crore in Q4 led by robust sales in the domestic and international markets. Revenue from operations rose to Rs 6,131.90 crore from Rs 4,104.71 crore.
Bajaj Finserv: The financial services company will declare its Q4 earnings on Wednesday. In Q3 , the lender reported a 15% rise in consolidated net profit at Rs 1,290 crore. Consolidated interest income was marginally lower at Rs 6,599 crore as against Rs 6,699 crore in Q3FY20.
Sanofi India: Sanofi India reported a 71% rise in Q4 net profit at Rs 145.9 crore against net profit of Rs 85.4 crore for the corresponding period of the previous fiscal. Revenue from operations stood at Rs 725.1 crore in last quarter against Rs 784.5 crore for the same period a year ago.
HDFC Asset Management Company: The AMC reported a 26.5% growth in profit after tax at Rs 316.08 crore in Q4. Total income rose 21.3% to Rs 545.57 crore in Q4.
Maruti Suzuki: Maruti Suzuki India reported a 6.14 per cent decline in consolidated net profit at Rs 1,241. 1 crore in Q4 against net profit of Rs 1,322.3 crore in January-March quarter of 2019-20.
