 "Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy")
Stocks to Watch on Wednesday, January 24, 2024: Equity markets are likely to start Wednesday’s trade on a tentative note following yesterday’s sharp fall. At 07:30 AM, Gift Nifty futures quoted around 21,284 as against the spot Nifty close of 21,239 on Tuesday.
In Asia this morning, Hang Seng soared 1.6 per cent. Straits Times and Taiwan were marginally up, while Nikkei and Kospi were down.
Overnight, the US markets too finished on a mixed note, with the S&P 500 and Nasdaq extended rally, while Dow Jones declined up to 0.3 per cent.
READ: STOCK MARKET LIVE UPDATES
READ: STOCK MARKET LIVE UPDATES
Meanwhile, here are the stocks that are likely to be on investors’ radar on Wednesday.
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 reported a 4 per cent year-on-year (YoY) increase in net profit at Rs 6,071 crore for Q3FY24. Net interest income grew by 9 per cent to Rs 12,532 crore.
L&T Finance Holdings (LTFH): Consolidated net profit rose 41 per cent YoY to Rs 640 crore for Q3FY24. Net Interest Income (NII) grew by 8 per cent to Rs 1,833 crore.
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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: Q3 consolidated net profit soared 84.3 per cent YoY to Rs 317 crore on the back of lower cost of natural gas and traded items. Revenue from operations, however, dipped 6.1 percent to Rs 1,569 crore.
United Spirits: Q3FY24 consolidated net profit jumped 63.5 per cent YoY to Rs 350 crore. Revenue from operations were up 8 per cent at Rs 3,002 crore.
Tata Elxsi: December quarter net profit was up 3.2 per cent at Rs 206 crore on a sequential basis. Revenue from operations increased 3.7 per cent QoQ to Rs 914 crore.
REC: Q3FY24 net profit rose 13 per cent YoY to Rs 3,269 crore. Net income jumped 21 per cent to Rs 4,350 crore.
JSW Energy: Q3FY24 consolidated net profit surged 28.8 percent YoY to Rs 231 crore. Revenue from operations was up 13.1 percent at Rs 2,543 crore.
HDFC Bank: On Tuesday said 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. Read More
Lupin: Received tentative approval from USFDA for its abbreviated new drug application for Rivaroxaban tablets to market in the US. These tablets are a generic equivalent of Janssen Pharmaceuticals' Xarelto tablets, a popular blood thinner used for various cardiovascular conditions.
Stocks in F&O ban today: Balrampur Chini, IRCTC, National Aluminium, OFSS and RBL Bank are the 5 stocks in futures & options ban period on Wednesday.