Stocks to Watch: Bajaj Finance, Voltas, RVNL, HDFC Life, Infosys, LTTS

By siliconindia  |  Thursday, 27 April 2023, 10:43:42 AM IST

Stocks to Watch: Bajaj Finance, Voltas, RVNL, HDFC Life, Infosys, LTTS
These are the top 10 stocks that could be in focus in today's trade:
Bajaj Finance: Consumer financier Bajaj Finance Ltd reported a 30% year-on-year (y-o-y) rise in consolidated net profit to Rs 3,158 crore for the three months to March, owing to higher net interest income. Net interest income (NII) increased 28% to Rs 7,771 crore in the March quarter of FY23, as against Rs 6,061 crore in Q4 of the previous financial year. In FY23, the company added Rs 55,292 crore of core AUM. In Q4, Bajaj Finance said it added 3.09 million new customers to the franchise.
Voltas: Air conditioning maker Voltas Ltd on 26 April reported a decline of 21.6% in its consolidated net profit to Rs 143.23 crore in the March 2023 quarter. The Tata group-owned firm in FY 2021-22, had posted a consolidated net profit of Rs 182.71 crore, the company said in a regulatory filing. However, the revenue from operations surged 11.5 percent to Rs 2,936.76 crore during FY 2022-23 under review as against Rs 2,633.72 crore a year ago.
Rail Vikas Nigam Limited: Union Finance Ministry on Wednesday gave its approval to upgrade Rail Vikas Nigam Limited (RVNL) to Navratna Central Public Sector Enterprise (CPSE) from Category-I Miniratna. RVNL, a public sector undertaking under the Ministry of Railways, will be the 13th Navratna amongst CPSEs. This means the company will have more autonomy in terms of investment, setting up joint ventures and other financial decisions.
HDFC Life: Leading life insurance firm, HDFC Life posted a standalone PAT of Rs 358.66 crore in March 2023 quarter, rising by 13.8% from Rs 315.22 crore in the preceding quarter. The company declared a dividend of Rs 1.90 per equity share. The insurer closed the fiscal year FY23 on a strong note delivering growth across all key metrics. However, year-on-year, the growth in PAT was merely 0.31% from a profit of Rs 357.52 crore in Q4 of FY22. HDFC Life witnessed double-digit growth in net premium incomes which came in at Rs 19,426.57 crore in Q4FY23, increasing by 35.9% YoY and 35.1% QoQ.
Infosys: Infosys, the Indian IT giant, Wednesday said it has collaborated with Walmart Commerce Technologies to help retailers leverage technology solutions that simplify customer and store employee experiences. The Bangalore-based IT giant will help retailers implement and use Store Assist, which enables them to provide "seamless omnichannel experiences" such as pickup, delivery and shipping from stores for both employees and customers, Infosys said in a statement.
L&T Technology Services: Engineering firm L&T Technology Services reported a net profit of Rs 309.6 crore in the fourth quarter of the fiscal year 2023. The company witnessed a growth of around 18% in net profit year on year. The revenue of also saw an increase of 19% and reached to Rs 2096.2 crore during the quarter. Transportation, which is the biggest segment and accounts for 34.5% of the overall revenue, experienced a significant increase of 23.9% during Q4. For the fiscal year 2023, the company saw a growth of around 22% in both net profit and revenue.
Union Bank of India: Public sector lender, Union Bank of India on Wednesday announced its fundraising plan of up to Rs 10,100 crore through public issues and bonds. Investors cheered Union Bank following the fresh capital raising as the stock rallied by nearly 2% on BSE. Union Bank's board of directors meeting was held on April 26. The decision for fundraising was made here. As per the regulatory filing, the bank's capital plan should not exceed the amount of Rs 10,100 crore.
SBI Life: SBI Life Insurance Company records double-digit growth in both PAT and net premium incomes in the fourth quarter of FY23. SBI posted a 15.57% growth in PAT to Rs 776.85 crore in Q4FY23, compared to a profit of Rs 672.15 crore in the same period a year ago. Net premium income soared by 14.1% to Rs 19,896.92 crore versus Rs 17,433.77 crore in Q4 of the previous fiscal. Sequentially, SBI Life's PAT skyrocketed by a whopping 155.43% compared to Rs 304.13 crore recorded in December 2022 quarter.
KEC International: Infrastructure engineering, procurement and construction company KEC International said it has bagged new orders worth Rs 1,017 crore across its various businesses. The RPG group company’s transmission and distribution (T&D) business has secured an order for a 765 kV transmission line from a private developer in India. In the civil business segment, it has secured orders for industrial and residential projects in India. The company’s cable business has also secured orders for the supply of various types of cables in India and overseas.
Coffee Day Enterprises: The National Financial Reporting Authority (NFRA) has debarred a Karnataka-based auditor for 10 years, citing deficiencies in the FY20 statutory audit of Mysore Amalgamated Coffee Estates Ltd, a group entity of Coffee Day Enterprises Ltd, showed an official order. The audit regulator said its investigations showed that the auditor failed to meet the relevant requirements of auditing standards in a number of significant aspects and demonstrated a serious lack of competence.

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