Stocks to Monitor: Maruti Suzuki, ICICI Bank, HCLTech, Apollo Hospitals, IDFC First Bank, SBI Cards

On Monday, April 29th, investors will keep a close watch on domestic stock markets as they digest March quarter results and global market trends. As of 7:35 AM, the Gift Nifty is showing an increase of 98 points, reaching 22,654 levels.

Maruti Suzuki India: The company has reported a standalone net profit of Rs 3,878 crore for the quarter ending in March of FY24. This represents a 47.8 percent increase from the same period last year, mainly due to strong operational figures and increased other income. However, the overall results fell short of market predictions. The company's operational revenue saw a year-on-year growth of 19.3 percent, reaching Rs 38,235 crore, with a 13.4 percent increase in sales volume to 5.84 lakh units. The EBITDA rose by 40 percent year-on-year to Rs 38,235 crore, with a margin growth of 170 basis points to 12.2 percent for the quarter. For FY24, the company has proposed a record dividend of Rs 125 per share.

ICICI Bank: A private sector bank has reported a standalone net profit of Rs 10,707.5 crore for the quarter ending March FY24. This represents a 17.4 percent increase from the same period last year. The bank's earnings exceeded market expectations, primarily due to reduced provisions for bad loans. The net interest income for the quarter rose by 8.07 percent YoY to Rs 19,093 crore. The bank's asset quality has also improved, with the gross NPA dropping 14 bps sequentially to 2.16 percent and the net NPA decreasing 2 bps to 0.42 percent in Q4 FY24.

HCL Technologies: The IT services company has reported a net profit of Rs 3,986 crore for the quarter ending March FY24. Although this represents a decrease of 8.4 percent from the previous quarter, the company's operational revenue has seen a marginal sequential growth of 0.2 percent for the quarter, reaching Rs 28,499 crore. However, the overall results were below market forecasts due to underwhelming operational figures. The dollar revenue growth was at 0.4 percent, and revenue in constant currency terms increased by 0.3 percent QoQ. The board has proposed an interim dividend of Rs 18 per share for FY24. HCL Tech expects revenue growth in constant currency terms in the range of 3-5 percent and an EBIT margin of 18–19 percent for FY25.

Apollo Hospitals Enterprise: Apollo HealthCo, also known as Apollo 24/7 or AHL, which is a subsidiary of Apollo Hospitals Enterprise, has signed a binding agreement with Advent International, a global private equity investor, to secure an equity capital of Rs 2,475 crore. As part of the agreement, Apollo 24/7 plans to integrate Keimed, a wholesale pharmaceutical distributor, into its operations over the next 24 to 30 months. Advent will make investments in two stages through compulsory convertible instruments, acquiring a 12.1 percent stake in the combined entity. The merged entity is valued at an enterprise value of Rs 22,481 crore.

IDFC First Bank: The bank's net profit for the quarter ending March FY24 was Rs 724 crore, which is a 9.8 percent decrease from the same period in the previous fiscal year. This decrease was due to increased provisions. However, the bank's net interest income increased by 24 percent YoY and reached Rs 4,469 crore for the quarter. The bank's asset quality also improved significantly. The gross NPA decreased by 16 basis points QoQ to 1.88 percent, and the net NPA dropped by 8 basis points sequentially to 0.60 percent for the quarter.

SBI Cards: The company's financial report showed a net profit of Rs 662 crore for the quarter ending on March 31, with an 11 percent growth compared to the same period in the previous fiscal year. The impressive financial results were attributed to the company's robust operational performance. Additionally, the company's operational revenue for the quarter rose to Rs 4,348 crore, marking a 15.6 percent year-over-year increase.

Vodafone Idea: ATC Telecom Infrastructure has sold all of its 144 crore equity shares, which represent 2.87 percent of the paid-up equity, in Vodafone Idea at an average price of Rs 12.78 per share through open market transactions. This sale is valued at Rs 1,840.3 crore. In contrast, Citigroup Global Markets Mauritius has acquired a total of 48,13,75,145 equity shares in Vodafone at an average price of Rs 12.7 per share.

RBL Bank: The bank has shown impressive growth in its operating profit, which has increased by 49 percent compared to the previous year. Its net profit and deposits have also increased by 30 percent and 22 percent respectively. During the Q4 results announcement, the bank has declared a dividend of Rs 1.50 per share for eligible shareholders. In Q4FY24, the bank reported a net profit of Rs 353 crore, indicating a 51 percent quarter-on-quarter growth and a 30 percent year-on-year increase. The bank's operating profit also increased by 49 percent year on year and by 16 percent quarter on quarter, reaching Rs 8,887 crore.

Yes Bank: The company announced a substantial 123 percent YoY increase in net profit, amounting to Rs 452 crore for the quarter ending March 31. This growth was partially driven by an increase in other income and a reduction in provisions. During the same period, the bank's net interest income saw a 2.3 percent rise, reaching Rs 2,153 crore. The bank's asset quality improved significantly over the quarter, with the gross NPA dropping 30 basis points QoQ to 1.7  percent, and the net NPA decreasing 30 basis points sequentially to 0.60 percent.

SBI Life Insurance Company: The company's net profit for Q4FY24 stood at Rs 810.8 crore, showing a 4.4 percent increase compared to the same period last year. The net premium income of the company for the quarter witnessed a significant growth of 26.2 percent YoY, amounting to Rs 25,116.5 crore. However, the net commission experienced a slight decline of 2.3 percent, reaching Rs 851.4 crore during the same period.

Ircon International: The Waltair division of the East Coast Railway has awarded the company a contract worth Rs 1,198.09 crore for the Kottavalasa-Koraput doubling project, which will be executed on an EPC basis in collaboration with Dineshchandra R. Agrawal Infracon (DRA).

Shakti Pumps: The company's net profit for the quarter ending March FY24 has increased by 41 times as compared to the previous year, which stands at Rs 89.7 crore. This significant increase is due to the company's strong operational performance. The operational revenue also saw a more than threefold increase to Rs 609.3 crore, up from Rs 182.7 crore in the same period. EBITDA rose by nearly twelve times to Rs 130.7 crore from Rs 11 crore, with a margin expansion of 1,550 basis points, standing at 21.5 percent. The company has proposed a final dividend of 4 per share.

State Bank of India: The State Bank of India has recently announced a partnership with HCLSoftware, which is a subsidiary of HCLTech, for the purpose of digital transformation of the bank. This partnership will continue for five years, and HCLSoftware will be implementing the HCL Unica platform as part of the agreement. With this implementation, the bank will be able to modernize its customer interaction framework and provide more personalized communication across various digital marketing channels. It is worth noting that this will be done while adhering to the Digital Personal Data Protection Act (DPDPA) and other rigorous security standards.

Eveready Industries: The company has reported a profit of Rs 8 crore for the fourth quarter ending on March 31, which is a significant improvement from a loss of Rs 14.39 crore in the same quarter of the previous fiscal year. However, despite a slight decrease in operational revenue to Rs 281 crore, this profit represents a small decrease compared to the December 2023 quarter. The company's revenues for the full fiscal year 2024 were Rs 1,314.2 crore, which is a minor one percent drop from Rs 1,327.7 crore in fiscal year 2023. The Profit After Tax (PAT) for the year experienced a remarkable growth of 231 percent, reaching Rs 66.7 crore in FY24, up from Rs 20.1 crore in FY23.

Mastek: The company's net profit for the quarter ending March FY24 was Rs 94.4 crore, indicating a growth of 30.1 percent from the same period in the previous fiscal year, thanks to a tax write-back. Despite the positive earnings, the operating margin remained weak. The company's revenue from operations increased by 9.9 percent YoY to Rs 780 crore during the quarter. However, EBITDA fell 0.3 percent YoY to Rs 125.1 crore, and the margin dropped 165 basis points to 16 percent for the quarter.

Force Motors: The company's consolidated net profit for the quarter ending March 31 decreased by 4.3 percent YoY, amounting to Rs 140.3 crore, due to a high base. The profit for Q4FY23 included an exceptional gain of Rs 208.32 crore. However, the quarter's revenue from operations rose by 35 percent compared to the same period last year, reaching Rs 2,011.2 crore. The board has proposed a dividend of Rs 20 per share for FY24.

Aditya Birla Sun Life AMC: The company reported a consolidated net profit of Rs 208.4 crore for the January-March quarter of FY24, which is a 53.7 percent growth from the same period in the previous fiscal year. This growth was supported by both revenue and operating numbers. The company's revenue from operations in Q4FY24 was Rs 365.6 crore, which is a 23 percent increase from the corresponding quarter in the previous year.

Mahindra Holidays and Resorts India: The company has announced its financial results for the quarter ending March 31. It has reported a consolidated net profit of Rs 83.2 crore, which represents a 47.8 percent increase from the same period last year. The company's revenue from operations for the same period rose by 12.4 percent to Rs 800.2 crore.

SBFC Finance: In the March quarter of FY24, a financial services institution reported a net profit of Rs 73.4 crore, which is a 71.7 percent increase from the same period in the previous fiscal year. The company's revenue from operations for the quarter grew by 34.3 percent YoY, amounting to Rs 278.8 crore.