Stocks to Watch: Bajaj Finance, YES Bank, Coal India, Coforge and more
Bajaj Finance | Non-banking financial company said the Reserve Bank of India has lifted the restrictions imposed on the sanction and disbursal of new loans under the ‘eCOM’ and online/digital Insta EMI card segments. This decision comes after the company took remedial actions to address concerns raised by the regulatory authority.YES Bank | Carlyle Group is likely to offload a significant chunk of its stake worth ₹1,500 crore in private lender through a block deal scheduled for May 3. Carlyle, holding an 8.74% stake in YES Bank post-warrant conversion, is reportedly planning the stake sale through an entity named CA BASQUE INVESTMENTS.Coal India | Coal behemoth reported a 26.2% rise in consolidated net profit to Rs 8,682.20 crore for the March quarter. The company’s consolidated net profit stood at Rs 6,875.07 crore in the year-ago period. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.Coforge | IT solutions company said it will acquire up to 54% stake in Cigniti Technologies at ₹1,415 per share. Also, it reported a 94.86% year-on-year jump in net profit at ₹229.2 crore for the fourth quarter that ended March 31, 2024. Also, the company’s board declared an interim dividend of Rs 19 per equity share.Ajanta Pharma | The company on Thursday said its board has approved its fourth buyback of equity shares since 2020 on Thursday, along with its March quarter results. The drug-maker will repurchase up to 10.28 lakh equity shares or 0.82% of the total outstanding shares of the company.Ceat | Tyre maker reported a 23% decline in its consolidated net profit to ₹102 crore for the fourth quarter ended March 2024. The company had posted a net profit of ₹132 crore in the January-March quarter of 2022-23. Its revenue from operations rose to ₹2,992 crore in the period under review from ₹2,875 crore in Q4 of FY23.KEI Industries | The company reported a profit of ₹168.5 crore during the quarter ended March 2024, up 22.1% from ₹138 crore in the year-ago period. Revenue rose 18.8% to ₹2,319.2 crore from ₹1,952.9 crore in the preceding year. The EBITDA stood at ₹244.5 crore, a 21% increase over ₹202.1 crore in the fourth quarter of FY23.IndiGo | India’s largest airline announced a special one-time bonus for employees across the board ahead of its Q4 results. The bonus will be one and a half months’ basic salary and will be disbursed along with the May salaries. This special bonus will be additional to the annual bonus and increment that employees will receive later this year.
