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Stocks to Watch Today: Tracxn Technologies, ITC, Axis Bank, Delhivery, and Others

The market managed to sustain its uptrend for fourth consecutive session in a row on October 19, though it lost some gains in afternoon trade and closed off day’s high. HDFC twins, Reliance Industries, and ITC helped the market close in green. The BSE Sensex climbed nearly 150 points to 59,107, while the Nifty50 rose 25 points to 17,512.

Results on October 20

ITC, Asian Paints, Axis Bank, Bajaj Finance, Tata Consumer Products, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tanla Platforms, United Breweries, Union Bank of India, and UTI Asset Management Company will be in focus ahead of September FY23 quarter earnings on October 20.

Stocks in News

IndusInd Bank: The private sector lender recorded profit at Rs 1,805 crore for the quarter ended September FY23, a 57 percent year-on-year growth led by lower provisions, with improvement in asset quality performance. Pre-provision operating profit increased 10 percent YoY to Rs 3,544 crore, and net interest income rose by 18 percent YoY to Rs 4,302 crore in Q2FY23 with 17 bps YoY expansion in net interest margin.

Bharat Electronics: Triton Electric Vehicle India, a part of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent to Navratna defence PSU Bharat Electronics for 300 KW Li-ion battery packs for its semi-truck project in India at value of Rs 8,060 crore. The battery packs will be delivered by the company to Triton in 24 months commencing from January 2023.

5paisa Capital: The company reported a 672 percent year-on-year growth in consolidated profit at Rs 10.74 crore in the quarter ended September FY23, driven by strong operating performance and lower expenses. Revenue grew by 17 percent to Rs 79.54 crore compared to same period last year.

Delhivery: The company said Express Parcel volumes remained stable in Q2FY23 and picked up towards the end of the quarter, driven by festive season sales, especially in the heavy goods category. Overall service line volumes for the business grew in the high teens in Q2FY23 over a large base of the same quarter last year (Q2FY22). The company also onboarded 200+ new customers in Q2FY23, driven by improving service metrics. It expects volumes to continue to show a gradual scale up through FY23.

NHPC: Life Insurance Corporation of India has offloaded 2.02 percent stake in the company via open market transactions. With this, LIC’s shareholding in the company reduced to 5.2 percent, down from 7.23 percent earlier.

Persistent Systems: The IT services company recorded a 4 percent sequential growth in profit at Rs 220 crore for the quarter ended September FY23 on revenue of Rs 2,048.6 crore that grew by 9.1 percent QoQ. Revenue in dollar terms increased 5.8 percent QoQ to $255.56 million and constant currency growth was 6.6 percent QoQ. The order booking for the quarter was at $367.8 million in total contract value (TCV) and at $271.2 million in annual contract value (ACV).

Havells India: The electric equipment maker reported a 38 constant currency growth YoY decline in consolidated profit at Rs 187 crore for the quarter ended September FY23, dented by lower operating income. Revenue grew by 13.6 percent YoY to Rs 3,679.5 crore in Q2FY23.

Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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