SUMMARY
Stocks to Watch: Shares of Reliance Industries, Yes Bank, ICICI Bank, Maharashtra Seamless, Wipro among others will be in focus today. Here are the top stocks to watch out for in trade on April 24 -
Reliance Industries Ltd | The Nifty 50 heavyweight reported its highest-ever quarterly profit of Rs 19,299 crore for the January-March quarter. Operating profit for the O2C business was also the highest ever despite global uncertainties and disruptions in commodity trade flows. (Read more) In another development, the conglomerate has withdrawn the scheme of amalgamation of subsidiary Reliance New Energy with the company.
HDFC Bank Ltd | On the lender’s request, with respect to Priority Sector Lending (PSL) compliance, The Reserve Bank of India has allowed the bank to comply for one third of portfolio on the effective date of the merger and two third of portfolio equally in the next two years.
Yes Bank | The private sector lender reported a decline of 45 percent in its profit for the January to March 2023 quarter. For the entire fiscal FY23, the bank witnessed a 32.7 percent decline in its net profit at Rs 717 crore. (Read more).
ICICI Bank | The private sector bank reported a 30 percent jump in its standalone net profit at Rs 9,122 crore for the quarter ended March 2023. The net interest income (NII) grew 40 percent to Rs 17,666.8 crore from Rs Rs 12.604.6 crore in the corresponding period a year ago. (Read more)
Wipro | The IT major said in an exchange filing that the company’s board will consider a proposal to buy back equity shares next week.
Maharashtra Seamless | The company has bagged an order worth Rs 262 crore from ONGC for the supply of seamless tubing pipes and accessories. The gradual dispatch of the order is to be executed in the course of next 42 weeks, the company has said in an exchange filing.
Ajmera Realty | The company’s arm Shree Yogi Realcon has acquired a land parcel worth Rs 76 crore at Vikhroli, Mumbai from Tata Communications. The acquired land is intended for residencial development and has an estimated sales value of Rs 550 crore.
Sun Pharmaceuticals Industries Ltd | The pharma major was directed by the US FDA to take corrective actions at its Mohali facility before releasing further final product batches into the US. The news came in a "Consent Decree Correspondence/Non-Compliance Letter" from the regulator on April 23. (Read more)
Kotak Mahindra Bank | The incumbent Chief Executive Officer and Managing Director of the lender, Uday Kotak will take the non-executive role in the bank after his tenure as CEO ends on December 31, 2023. Uday Kotak has been associated with the bank for two decades.
Macrotech Developers | The company reported a net profit of Rs 744.4 crore for the quarter ended March 2023, up 39 percent on a year-on-year basis. The revenue, however, fell 5.5 percent to Rs 3,255.4 crore. The realty company’s board also declared a dividend of Rs 2 per share. The board also declared 1:1 bonus issue.