Stocks To Watch: HDFC Bank, Wipro, Persistent Systems, Jio Financial, IREDA and more

hdfc bank share price

HDFC Bank | Net profit at ₹16,511.9 crore compared to a CNBC-TV18 poll of ₹18,361.5 crore. Gross NPA at 1.25% from 1.26%, while net NPA at 0.33% from 0.31% in December. The bank has made floating provisions worth ₹10,900 crore in the March quarter and also recommended a dividend of ₹19.5 per share. HDFC Bank also plans to raise ₹60,000 crore through debt instruments.

wipro q4 results

Wipro | Reports fifth consecutive quarter of revenue decline for the March quarter. Ended FY24 with a constant currency revenue decline of 4.4% compared to TCS’ 3.4% and Infosys’ 1.4% growth. Q1 guidance of -1.5% to 0.5%, compared to estimates of 0% to 2% growth. Headcount also fell for the sixth quarter in a row. Continues to see green shoots in Capco, which saw 44% sequential growth in order bookings.

Jio Financial Services

Jio Financial Services | Income at ₹418.2 crore, up 0.9% sequentially. Cost-to-income ratio at 24.23% from 23.8% in the December quarter. Operating profit at ₹316.9 crore from ₹315.6 crore last quarter. Profit of associates up 17.4% quarter-on-quarter to ₹77.6 crore. Net profit up 5.7% to ₹310.6 crore.

aditya birla fashion share price

Aditya Birla Fashion | Approves demerger of Madura Fashion & Lifestyle into newly incorporated Aditya Birla Lifestyle Brands. ABLBL will be listed separately on completion of the merger. Aditya Birla Fashion shareholders will get one new share of the demerged entity for every one share held of ABFRL. Post demerger, ABFRL will raise up to ₹2,500 crore within a 12-month period.

IREDA share price

IREDA | Reports all-time high annual net profit of ₹1,252 crore, a growth of 45% over last year. Net NPA down to 0.99% from 1.66% at the end of financial year 2023. Loan book grew by 27% to ₹59,6898 crore. Loan disbursements grew by 16% to ₹21,639.21 crore, marking the highest annual loan disbursement and sanction in the company’s history.

Persistent Systems | US Dollar revenue growth of 3.4% from the December quarter to $310.9 million. Revenue in rupee terms up 3.7% quarter-on-quarter to ₹2,590.5 crore. Board recommended final dividend of ₹10 per share. Total order booking for the quarter stood at $447.7 million.

Sterling & Wilson | Revenue growth of over 50% to ₹3,035 crore. Turns EBITDA positive with a ₹54 crore figure in financial year 2024, aided by the growing domestic EPC business. Achieved gross margin in excess of 10% for the year. Unexecuted order value has grown 64% with net debt reduction by over 90%. Unexecuted order book at over ₹8,000 crore.

HDFC AMC | Quarterly average AUM at ₹6.12 lakh crore, up 11% sequentially. Market share improves marginally to 11.3% from 11.2% in December. Equity AUM grew by 15.5% quarter-on-quarter. Also declared dividend of ₹70 per share.

lupin, Avendus Spark

Lupin | Announces the launch of 25 mg strength of generic Mybetriq or mirabegron in the US. The company has approval to launch both 25 mg and 50 mg. The drug is used for an overactive bladder. The 25 mg strength has sales of $1 billion.

UltraTech Cement, stocks to watch, top stocks

UltraTech Cement | Board approves purchase of a grinding unit having an installed capacity of 1.1 MTPA in addition to a captive railway siding at Parli in Maharashtra from The India Cements for a consideration of ₹315 crore. The purchase will help UltraTech strengthen its presence in the Maharashtra market.

Hero MotoCorp, stocks to watch, top stocks

Hero MotoCorp | Inaugurated a product assembly facility in the country. Also launched four of its globally popular products, which will be assembled locally at the new assembly facility located in the CG Industrial Park in Nawalparasi. The facility will have a capacity of 75,000 units.