Stocks to Watch: Bajaj Finance, IndusInd Bank, Tech Mahindra, LTTS and more
Bajaj Finance | The non-banking finance company reported a 21% rise in consolidated net profit to ₹3,825 crore for the March quarter. It had registered a net profit of ₹3,158 crore in the same period a year ago. Total income on a consolidated basis during the January-March period of 2023-24 rose to ₹14,932 crore.IndusInd Bank | Private sector lender on Thursday reported a 15% growth in consolidated net profit to ₹2,349.15 crore in the March quarter, driven by core income growth. The bank’s net profit for the entire FY24 increased 21% to ₹8,977 crore from ₹7,443 crore.Tech Mahindra | IT services company reported a 41% fall in its consolidated net profit for the March quarter to ₹661 crore. Tech Mahindra’s consolidated net profit plunged almost 41% to ₹661 crore for the quarter ended March 2024. For Q4 FY24, the revenue dropped by 6.2% year-on-year to Rs 12,871 crore.L&T Technology Services | The company reported a marginal 0.2% growth in net profit for the March quarter at ₹340 crore. The engineering services company’s net profit for FY24 grew 7.6% to ₹1,303.7 crore. In the reporting quarter, its revenue grew 7% to ₹2,537.5 crore, while it was about 5% higher when compared to the quarter-ago period.IndiGo | India’s leading airline has ventured into the wide-body aircraft space with its first order of 30 Airbus A350-900 aircraft. These state-of-the-art A350s will be powered by Rolls Royce’s Trent XWB engines, known for their efficiency and reliability.Tata Steel | Tata Steel UK on Thursday confirmed its decision to proceed with the closure of two old blast furnaces as part of a GBP 1.25-billion investment to transition to a state-of-the-art Electric Arc Furnace at its Port Talbot steelworks in south Wales.Schaeffler | Industrial and automotive parts maker reported a 25.3% year-on-year fall in net profit at ₹219.7 crore for the first quarter. In the corresponding quarter, Schaeffler posted a net profit of ₹294.1 crore. The company’s revenue increased 10.6% to ₹1,873.1 crore against ₹1,693.6 crore in the corresponding period of the preceding fiscal.
Cyient | IT solutions provider reported a 28.5% quarter-on-quarter increase in net profit at ₹196.9 crore for the fourth quarter that ended March 31, 2024. In the December quarter, Cyient posted a net profit of ₹153.2 crore, the company said in a regulatory filing.Tata Motors | The vote on the merger proposal of Tata Motors and Tata Motors DVR will be held on Friday, April 26, as announced by the board of directors in July 2023. The company said that it will issue seven (Ordinary) shares of Tata Motors per 10 Tata Motors DVR (A Ordinary) shares, which will stand cancelled.
