Market Commentary - Stock Alert
Axis Bank, Hindustan Unilever, Kotak Mahindra Bank, LTIMindtree in focus As on : 25-Apr-24  08:43

Axis Bank: The private lender reported net profit of Rs 7,129.67 crore in Q4 FY24 as against net loss of Rs 5,728.42 recorded in Q4 FY23. Total income rose 25.15% year on year (YoY) to Rs 35,990.33 crore in the quarter ended 31 March 2024.

Hindustan Unilever: The FMCG major reported 5.72% fall in standalone net profit to Rs 2,406 crore in Q4 FY24 as compared to Rs 2,552 crore recorded in Q4 FY23. Revenue from operations rose marginally to Rs 14,693 crore in Q4 FY24 as against Rs 14,638 crore reported in Q4 FY23.

Kotak Mahindra Bank: The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and issuing new credit cards. This restriction comes into effect immediately. However, the bank will continue to service its existing customers, including those with credit cards.

Tata Consultancy Services (TCS): TCS has entered into a strategic partnership with Amazon Web Services (AWS). Through this multi-year tie-up, TCS will provide its customers with tools to create modern architectures, deliver business value using state-of-the-art cloud-native capabilities and drive modernization at scale.

LTIMindtree: LTIMindtree said that its net profit fell 5.87% to Rs 1,100 crore in Q4 FY24 as compared with Rs 1,169 crore posted in Q3 FY24. Revenue from operations declined 1.38% to Rs 8,892 crore in Q4 FY24 as compared with Rs 9,016 crore in Q3 FY24.

Rites: Rites said that it has signed Memorandum of understanding (MoU) with Damodar Valley Corporation (DVC), Ministry of Power, to collaborate for project management consultancy for rail infra works.

Rail Vikas Nigam (RVNL): RVNL has emerged as the lowest bidder from Southern Railway for provision of automatic block signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway.

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