Market Commentary - Stock Alert
HDFC Bank, Wipro, Jio Financial, UltraTech Cement in focus As on : 22-Apr-24  08:54

HDFC Bank: The bank said that its net profit jumped 37.06% to Rs 16,511.85 crore in Q4 FY24 as compared with Rs 12,047.45 crore posted in Q4 FY23. Total income jumped 66.46% YoY to Rs 89,6939 crore as compared with Rs 53,850.54 crore posted in corresponding quarter last year.

Wipro: The IT major's consolidated net profit grew 5.21% to Rs 2,834.6 crore in Q4 FY24 as against Rs 2,694.2 crore recorded in Q3 FY24. Revenue from operations rose marginally to Rs 22,208.3 crore in the March quarter as against Rs 22,205.1 crore reported in the preceding quarter same year.

Jio Financial Services: Jio Financial Services reported a net profit of Rs 310.63 crore in Q4 FY24 as against a net profit of Rs 293.82 crore posted in Q3 FY24. Total income rose to Rs 418.10 crore from Rs 414.33 crore.

HDFC Asset Management Company (HDFC AMC): The asset management company?s standalone net profit jumped 43.83% to Rs 541.09 crore on 33.4% rise in total income to Rs 850.89 crore in Q4 FY24 over Q4 FY23.

UltraTech Cement: The board of directors approved purchase of a grinding unit having installed capacity of 1.1 mtpa in addition to a captive railway siding, at Parli, Maharashtra from The India Cements for Rs 315 crore.

Indian Renewable Energy Development Agency (IREDA): IREDA said that its net profit jumped 33% to Rs 337.38 crore in Q4 FY24 as compared with Rs 253.62 crore in Q4 FY23. Revenue from operations increased 33.6% to Rs 1,339.77 crore in Q4 FY24 as compared with Rs 1,002.67 crore posted in corresponding quarter last year.

JSW Energy: JSW Neo Energy, a wholly-owned subsidiary of the company, has received a letter of award for ISTS connected Solar Capacity of 700 MW from NTPC, against Tariff based Competitive Bid invited by NTPC for setting up of 1,500 MW ISTS connected Solar Power Projects.

ICICI Bank: ICICI Bank announced that its board will meet on 27 April 2024 to consider raising funds through issuance of debt securities.

Aditya Birla Fashion Retail (ABFRL): ABFRL said that its board has approved the proposal of vertical demerger of Madura Fashion and Lifestyle business (MFL Business) from the company into a newly incorporated company named as Aditya Birla Lifestyle Brands.

Biocon: Biocon announced that it has received an approval from South African Health Products Regulatory Authority (SAHPRA) for their vertically integrated, complex drug product Tacrolimus capsule in South Africa.

Lupin: Lupin on Saturday announced that it has received an approval from US Food and Drug Administration (USFDA) for the launch of Mirabegron extended-release tablets, 25 mg, in the United States.

Laurus Labs: Laurus Labs said that its API Manufacturing facility situated in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh has cleared the US Food and Drug Administration (USFDA) inspection with zero observations.

Landmark Cars: The company announced that it has signed a letter of intent with Mahindra & Mahindra (M&M) for opening three showrooms and four workshops in Hyderabad.

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