Stocks to Watch: Kotak Mahindra Bank, Axis Bank, HUL, LTIMindtree and more
Kotak Mahindra Bank | The RBI on Wednesday barred private lender from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.Axis Bank | Private lender on Wednesday reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter. Sequentially, the bank’s net profit grew 17% as compared to ₹6,071 crore earnings recorded in the preceding quarter of FY24.Hindustan Unilever | FMCG major on Wednesday reported a 1.53% decline in consolidated net profit to ₹2,561 crore for the fourth quarter ended March 31, 2024. The company had posted a net profit of ₹2,601 crore in the year-ago period.LTIMindtree | Indian IT services company on Wednesday reported a 1.2% decline year-on-year in consolidated net profit for the March quarter to ₹1,100.7 crore. The profit (attributable to shareholders of the company) came in at ₹1099.9 crore for the March quarter, a year-on-year dip of 1.2%.Macrotech Developers | Realty firm on Wednesday reported an 11% decline in consolidated net profit to ₹665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to ₹1,549.1 crore.IHCL | Tata Group hospitality firm reported a 29.4% year-on-year increase in net profit at ₹438.3 crore for the fourth quarter that ended March 31, 2024. The company’s revenue increased 17.2% to ₹1,905.3 crore against ₹1,625.4 crore in the corresponding period of the preceding fiscal.Dalmia Bharat | The cement maker reported a net profit of ₹315 crore. In the previous quarter, net profit came at ₹266 crore. The company’s revenue rose 10% YoY to ₹4,307 crore against ₹3,912 crore in the corresponding period of the preceding fiscal.Syngene International | Contract research and manufacturing services firm reported a 5.5% year-on-year (YoY) increase in net profit at ₹188.6 crore for the fourth quarter that ended March 31, 2024. The company’s revenue dipped 7.8% to ₹916.9 crore against ₹994.4 crore in the corresponding period of the preceding fiscal.Motilal Oswal AMC | The company on Wednesday said it has appointed Prateek Agrawal as managing director (MD) and chief executive officer (CEO) of the company, effective from April 26, 2024. Akhil Chaturvedi, currently Chief Business Officer of MOAMC, has been elevated to the position of executive director.
