Stocks to watch: Tata Consumer Products, MCX, Axis Bank will be in focus
Upstox
2 min read • Updated: April 24, 2024, 8:59 AM
Summary
Axis Bank, Hindustan Uniliver, MCX, Dr Reddy's are some of the key large cap stocks that will remain in focus on Wednesday.
Indian markets are set to open higher on buoyant global markets. The tech-heavy index Nasdaq jumped 1.5% on Tuesday, while the S&P 500 and Dow Jones closed 1.2% and 0.5% higher. The Asian markets showed a strong rally across the board on Wednesday morning, with Japanese and Chinese indices trading nearly 2% higher for the day.
Key stocks to watch on Wednesday
Tata Consumer Products reported a 26.69% fall year-on-year (YoY) in consolidated net profit at ₹212.26 crore in the March quarter of FY24 due to the impact of exceptional items.
Axis Bank, Hindustan Unilever Ltd, Macrotech Developers, 5paisa Capital, Oracle Financial Services Software Ltd and Nippon Life India Asset Management will remain in focus ahead of their Q4 results today.
ICICI Prudential reported a 26% drop in net profits, largely due to higher expenses in the quarter. The total premium for the quarter rose by 17% at ₹14,788 crore vs ₹12,629 crore in Q4FY24.
MCX reported robust Q4 earnings with a multifold jump in net profit at ₹87 crore in Q4FY24 vs ₹5 crore in Q4FY23. The revenue for the quarter, too, was increased by 35% YoY at ₹181 crore.
Lupin receives EIR from the U.S. FDA for its Aurangabad manufacturing facility. The inspection was conducted from March 6 to March 15, 2024. The U.S. FDA has determined that the inspection classification of the facility is Voluntary Action Indicated.
Dr Reddy’s issues voluntary nationwide recall of Sapropterin Dihydrochloride Powder for Oral Solution 100 mg due to Sub-potency.