Stocks in the news: Bajaj Finance, Reliance Industries, Bharti Airtel, Just Dial and more
The Indian stock market is expected to open lower today as the SGX Nifty fell 28 points to 18,085. The market ended in the red in the previous session amid negative global indices. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113. Maruti, UltraTech Cement, Tech Mahindra and HCL Tech were Sensex’s biggest losers, dropping as much as 4.05%.
Axis Bank, HDFC Bank, ICICI Bank and Kotak Bank were Sensex’s top gainers, rising 1.83%.
Here’s a look at the stocks that should stay in the news today.
Aunty Elxsi: The design-focused technology service provider reported a 43.5% year-on-year (YoY) increase in its net profit for the third quarter to Rs 151 crore. On a quarterly basis (QoQ), profit increased by 20.4%. Operating revenue increased by 33.2% year-on-year and 6.7% quarter-on-quarter to Rs 635.4 crore. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 14.8% quarter-on-quarter and 46.8% year-on-year to Rs 210.8 crore.
Bajaj Finance: NBFC reported consolidated net profit of Rs 2125.29 crore, up 85% for the quarter ended 31 December 2021 from net profit of Rs 1145.98 crore for the prior year period. Net interest income (NII) soared by 40% to Rs 6,000 crore from Rs Rs 4,296 crore in the corresponding period of the previous financial year. Interest income reversal for the quarter was Rs 241 crore compared to Rs 450 crore in Q3FY21.
L&T technology: L&T Technology Services reported a 33.7% year-on-year (YoY) growth in consolidated net profit for the October-December quarter to Rs 248.8 crore. On a quarterly basis (QoQ), profit increased by 8.2%. Revenue increased by 20.5% year-on-year and 5% quarter-on-quarter to Rs 1,687.5 crore in the quarter under review.
Trusted industries: Reliance Industries’ retail unit, Reliance Retail Ventures Ltd, has bought a 54% stake in robotics company Addverb Technologies for $132 million. In a separate development, Reliance Jio added 20 lakh mobile subscribers in November, bringing the total base to 42.8 crore by the end of the month.
Bharti Airtel: The phone company gained 13 lakh subscribers in November and its total customer base stood at 35.5 crore.
Prudential life insurance ICICI: The private insurer posted a marginal 2% year-on-year growth in net profit to Rs 311 crore for the December 2021 quarter, driven by an increase in policy sales. The company reported a net profit of Rs 306 crore in the period a year ago.
Just dial: The company’s consolidated net profit fell 61.2% to Rs 19.4 crore for the quarter ended December 2021, from a net profit of Rs 49.9 crore a year ago . Net operating income fell 6.2% to Rs 158.89 crore in the October to December quarter 2021 from Rs 169.54 crore a year ago.
EKI energy services: The carbon credits company reported a net profit of Rs 161.21 crore for the quarter of December 2021. The company reported a net profit of Rs 81.25 crore for the quarter ending September 30, 2021.