Stocks in Focus After Earnings Announcement Yesterday

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Stocks in Focus After Earnings Announcement Yesterday
Credit: © Reuters.

By Malvika Gurung --  Axis Bank (NS: AXBK ): The private lender reported a strong quarterly earnings report with an 86% jump in its net profit at Rs 3,133 crore YoY, beating Street estimates. However, as a result of lower pre-provision operating profit, the bank’s shares fell by over 3% as the market opened on Wednesday, as predicted by brokerage firm Morgan Stanley (NYSE: MS ).

Cipla (NS: CIPL ): The large-cap company reported a 7% rise in consolidated net profit at Rs 711 crore YoY for the September quarter, while its revenue by operations grew by 10% to Rs 5,520 crore. The pharmaceutical stock is trading 0.8% higher at Rs 914.75 apiece at 11:55 am today.

Bajaj Finance (NS: BJFN ): The leading NBFC posted a jump of 53.5% in net profit at Rs 1,481 crore for the September quarter, however, failed to meet the Street estimates at Rs 1,495.2 crore. However, the rest of the figures reported by the NBFC were over market expectations. Bajaj Finance is among the top losers for the day, down 3.5% at 7,577.5.

Mahanagar Gas Ltd (NS: MGAS ): The natural gas distributor missed Street estimates on the quarter revenue recorded for the September quarter, along with the operating profit margin, reported at 36.3%, compared to 42.4% estimated by analysts. However, the sales figures were reported to surpass the market expectation.

Ambuja Cements (NS: ABUJ ): The cement maker’s standalone net profit came out to be Rs 441 crore for the Q3 2021 period, flat QoQ. However, its sales grew by 14% to Rs 3,193 crore in Q3 2021 QoQ. The stock was trading 1.42% higher at Rs 385.75 apiece at 11:55 am on Wednesday.

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  • nan ban @nan ban
    Fii dii data
    Like 0
  • Pochamreddy Ramanareddy @Pochamreddy Ramanareddy
    ICICI is over take AXIS bank ,which is best stock.
    Like 3

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