Stocks in Focus Today :Today i.e. on 22 April 2024, some stocks (stocks in news) are ready to show action. Due to positive trigger, these shares may remain in focus in the market today (Stocks to Watch). If you are looking for better stocks in intraday then you can keep an eye on them (Stock in Focus). Today’s list includes HDFC Bank, RIL, Zomato, Jio Financial Services, LIC, Wipro, HDFC AMC, IREDA, National Fertilizers, Hero Motocorp, Ultratech Cement, Vodafone Idea, Aarti Surfactants, Mahindra Logistics, Rallis India, Tejas Networks, Tamilnad. Shares like Mercantile Bank, Hatsun Agro Product, KP Energy are included.
RIL quarterly results today
Reliance Industries’ quarterly results will be released today. Apart from this, results of Aarti Surfactants, Aditya Birla Money, Mahindra Logistics, Rallis India, Tejas Networks, Tamilnad Mercantile Bank, Hatsun Agro Product, Kesoram Industries and KP Energy will also come today.
HDFC Bank
The profit of HDFC Bank, the largest private sector bank in the country, increased by 2.11 percent on quarterly basis in the March quarter to Rs 17622.38 crore. Whereas in the December quarter of the last financial year, the company’s profit was Rs 17,257.87 crore. The bank’s consolidated profit increased by 0.9 percent on quarterly basis to Rs 16,511.85 crore, which was Rs 16,372.54 crore in the December quarter. Interest income increased to Rs 29,080 crore, while other income increased to Rs 18,170 crore.
Zomato
Online food delivery platform Zomato has received an order from the GST authority to pay tax demand and penalty of Rs 11.82 crore. This notice was received in relation to the export services provided by the company to its subsidiaries located outside India between July 2017 and March 2021. This order was issued by Additional Commissioner, Central Goods and Services Tax, Gurugram. This includes interest and penalty of Rs 5,90,94,889 apart from the GST demand of Rs 5,90,94,889.
Jio Financial Services
Jio Financial Services’ profit increased by 6 percent to Rs 311 crore in the fourth quarter ending March 2024. The company’s profit has increased mainly due to increase in income. This financial services company, which was separated from Reliance Industries, had registered a profit of Rs 294 crore in the December quarter. The company’s income increased marginally to Rs 418 crore in the January-March quarter of 2023-24, which was Rs 414 crore in the same quarter a year ago.
LIC
Public sector Life Insurance Corporation of India (LIC) collected a total premium of Rs 36,300.62 crore in the month of March. This is 26.41 percent more than Rs 28,716.23 crore a year ago. Citing data released by the Life Insurance Council, the country’s largest insurance company LIC said that in terms of premium collection, its market share was the highest at 58.87 percent till March 2024. Last month, SBI Life Insurance Company stood second in terms of premium collection with an increase of 24.76 percent.
wipro
Wipro’s profit declined by 7.8 percent to Rs 2,835 crore in the March quarter. Whereas in the same quarter a year ago it was Rs 3,074.5 crore. The company said that the broader-economic outlook still remains ‘uncertain’. The company has predicted a decline of 1.5 percent in IT services revenue for the quarter April-June 2024, with a growth of 0.5 percent. The operating income of the company also declined by 4.2 percent to Rs 22,208.3 crore.
