Stocks to watch: Bajaj Finance, Maruti Suzuki, Tech Mahindra and more
Upstox
2 min read • Updated: April 26, 2024, 9:36 AM
Summary
Maruti Suzuki India, HCLTech, Bajaj Finserv, Force Motors Ltd are few companies which will remain in focus ahead of their Q4 results announcements on Friday.
Key stocks to watch
Indian markets are set to open positively, taking cues from buoyant Asian markets. The US markets witnessed a volatile session on Thursday after the US economy grew by 1.6% for the first quarter of 2024 vs 3.4% in the previous quarter.
Following the GDP numbers, US markets fell nearly 2% at the opening but later recovered significant losses to close 0.5% down only. In the Asian markets, Japanese and Hong Kong indexes trade at a 0.5% and 1% higher rate in the morning.
Key stocks to watch
Vedanta Ltd reported a year-on-year decline in net profit to ₹1,549 crore compared to ₹2,634 crore in the same quarter of the previous fiscal year.
Tech Mahindra Q4 Profit at ₹661 crore, down 41%.In Q4FY24, it stood at ₹12,871 crore, which declined by 6.18% YoY. There is a decline of 5% in the client base, which is greater than or equal to $1 million.
Companies that will release their quarterly results today include Maruti Suzuki India, HCLTech, Bajaj Finserv, Abhijit Trading Co, Alstone Textiles (India), Atul Ltd, Bajaj Holdings & Investment Ltd., CIL Securities Ltd, Force Motors Ltd, Dolat Algotech Ltd, and SBI Cards and Payment Services Ltd.
IndusInd Bank Q4 net profit rises 15% to ₹2,349 crore. The net NPAs came down to 0.57% from 0.59% at the end of the fourth quarter of the previous fiscal.
Bajaj Finance reported a 21% rise in the net profit at ₹3,825 crore in Q4FY24 vs ₹3,158 crore in the previous year's same quarter. The company also sought relaxation from RBI regarding the restrictions imposed on its EMI products.
ICICI Bank stated nearly 17,000 credit cards issued recently have been erroneously mapped to the wrong users in digital channels.