Stocks in Focus: L&T, Axis Bank, HUL, Bajaj Finance, Tata Consumer
Equity markets initially reacted negatively to the increase in capital gains tax but recovered by the end of the day. Today, shares of L&T, Axis Bank, HUL, Bajaj Finance, Tata Consumer, and others are expected to attract attention due to recent news or quarterly earnings reports.
L&T, Axis Bank, Bajaj Finserv, SBI Life: These companies will be in the spotlight as they are set to release their quarterly earnings reports today.
Bajaj Finance:Bajaj Finance Ltd reported a 14% year-on-year increase in its consolidated net profit, reaching Rs 3,912 crore for the first quarter ending June 2024.
HUL: Hindustan Unilever (HUL) announced a 3% year-on-year rise in its net profit, totaling Rs 2,538 crore for the quarter.
United Spirits: United Spirits posted a consolidated net profit of Rs 485 crore for the first quarter ending June 2024, up 2% from Rs 477 crore reported in the same quarter last year.
ICICI Prudential Life Insurance: ICICI Prudential Life Insurance reported a standalone net profit of Rs 225 crore for the quarter ending June 30, 2024, marking a nearly 9% year-on-year increase.
South Indian Bank: South Indian Bank is set to consider raising funds through a preferential issue or qualified institutional placement on July 30.
Torrent Pharma: Torrent Pharma recorded a net profit of Rs 457 crore for the first quarter, with revenue from operations at Rs 2,859 crore.
Tata Consumer Products: Tata Consumer Products announced a Rs 3,000 crore fundraising through a rights issue, planning to issue 3.66 crore rights shares.
