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Stocks in Focus: HDFC Bank, Wipro, Laurus Labs, UltraTech Cement, and Others

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The GIFT Nifty futures, an early indicator of the Nifty50 index, were trading 0.42% higher by 92.50 points at 22,203.60, indicating that the domestic benchmark indices are likely to make a positive start on Monday. 

On Friday, 19 April, Domestic benchmark indices S&P BSE Sensex surged 599.34 points, or 0.83%, to end at 73,088.33 while the Nifty50 traded 151.15 points, or 0.69% higher and settled at 22,147. 

Here are some stocks that are likely to remain in focus on 22 April.

Quarterly Results Today: Mahindra Logistics, Hatsun Agro Product, Reliance Industries, Rallis India, and Tejas Networks are some of the prominent companies that are set to release their quarterly earnings for January-March.

HDFC Bank: In its quarterly for January-March, the bank reported a 37.1% year-on-year growth in net profit to Rs 16,511.9 crore and a 24.5% YoY increase in net interest income to Rs 29,080 crore during the quarter.

Wipro: The company reported a weak quarterly report for the fifth consecutive quarter. The company reported a 4.4% YoY decline in revenue and a 7.9% YoY decline in Net profit during the quarter. 

UltraTech Cement: The company is set to acquire a grinding unit from India Cements in Maharashtra for Rs 315 crore.

Laurus Labs: The USFDA conducted an inspection at the company’s API manufacturing facilities in Andhra Pradesh and concluded the inspection with zero observation. 

Aditya Birla Fashion: The company has approved the demerger of Madura Fashion and Lifestyle into a new entity called Aditya Birla Lifestyle Brands. The company is also planning to raise up to Rs 2,500 crore in a 12-month period.

NTPC: A massive fire broke out at the company’s North Karanpura superthermal power plant in Jharkhand. 

IREDA: The company reported the highest-ever annual net profit of Rs 1,252 crore, marking a 45% year-on-year growth from the previous year. 

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