Today's Stock Focus: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy
Equity markets are expected to open with caution on Wednesday, January 24, 2024, following a sharp decline on the previous day. Gift Nifty futures were trading at around 21,284, compared to the spot Nifty close of 21,239 on Tuesday. This morning, Hang Seng in Asia showed a 1.6 percent increase, while the Straits Times and Taiwan had marginal gains. However, Nikkei and Kospi showed a decline.
Earnings today: Bajaj Auto, Bharat Dynamics, Blue Dart, Canara Bank, Ceat, DCB Bank, DLF, Exide Industries, Indian Bank, Indian Overseas Bank, Indian Oil, Laurus Labs, PNB Housing, RailTel, Tata Steel, Tech Mahindra, TVS Motor, UCO Bank and Ujjivan SFB are some of the notable companies scheduled to announce December quarter results on Wednesday.
Axis Bank: The private sector lender recorded a 4% YoY increase in net profit, reaching Rs 6,071 crore for Q3FY24. Its net interest income grew by 9% to Rs 12,532 crore.
L&T Finance Holdings (LTFH): Consolidated net profit rose 41 percent YoY to Rs 640 crore for Q3FY24. Net Interest Income (NII) grew by 8 percent to Rs 1,833 crore.
Bharti Airtel: Prepaid Rs 8,325 crore to the Department of Telecom towards part prepayment of the deferred liabilities pertaining to spectrum acquired in the 2015 auction.
Hero MotoCorp: Plans to launch three electric scooters in the 'mid', 'affordable', and 'business-to-business (B2B)' segments in 2024, said chief executive officer (CEO) Niranjan Gupta on Tuesday. Read More
Mahanagar Gas: Consolidated net profit for Q3 increased by 84.3% YoY to reach Rs 317 crore, due to lower natural gas and traded item costs. However, revenue from operations decreased by 6.1% to Rs 1,569 crore.
United Spirits: Q3FY24 consolidated net profit jumped 63.5 percent YoY to Rs 350 crore. Revenue from operations was up 8 percent at Rs 3,002 crore.
Tata Elxsi: December quarter net profit was up 3.2 percent at Rs 206 crore on a sequential basis. Revenue from operations increased 3.7 percent QoQ to Rs 914 crore.
REC: Q3FY24 net profit rose 13 percent YoY to Rs 3,269 crore. Net income jumped 21 percent to Rs 4,350 crore.
JSW Energy: Consolidated net profit for Q3FY24 increased by 28.8% YoY to 
231 crore, while revenue from operations went up by 13.1% to 2,543 crore.
231 crore, while revenue from operations went up by 13.1% to 2,543 crore.
HDFC Bank: On Tuesday it was now the first lender in India to achieve the milestone of 20 million credit cards in force. The lender had forayed into the credit card business in 2001 and hit the 10-million mark in 2017.
Lupin: USFDA tentatively approved the abbreviated new drug application for Rivaroxaban tablets to market in the US. These tablets are a generic equivalent of Xarelto tablets, a popular blood thinner used for various cardiovascular conditions, manufactured by Janssen Pharmaceuticals.
