Stocks in Focus on Apr 29: Vedanta, Axis Bank, Maruti Suzuki, Wipro & More

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Stocks in Focus on Apr 29: Vedanta, Axis Bank, Maruti Suzuki, Wipro & More
Credit: © Reuters.

By Malvika Gurung -- Vedanta (NS: VDAN ): The mining major’s net profit in the March quarter declined by 4.8% YoY to Rs 7,261 crore but posted its highest-ever EBITDA in the quarter at Rs 13,768 crore, up 51% YoY.

Colgate-Palmolive (NYSE: CL ): The public insurer LIC added 50,000 equity shares of the FMCG company on Apr 27 through open market transactions, raising its stake in the company from 4.99% to 5.017%.

Tata Power (NS: TTPW ): The power major will install 5,000 electric vehicle charging points across Maharashtra, in collaboration with National Real Estate Development Council.

Axis Bank (NS: AXBK ): The private lender’s standalone profit jumped 54% YoY to Rs 4,118 crore in the March quarter due to a major decline in provisions and improved performance of asset quality in the period. Its consolidated net profit surged 49.8% YoY to Rs 4,434 crore.

Biocon (NS: BION ): The pharma player’s net profit shrank 4% to Rs 283.9 crore, while consolidated revenue surged 30.8% YoY to Rs 2,408.8 crore in Q4 FY22.

Ambuja Cements (NS: ABUJ ): The cement major’s net profit plunged 30.3% YoY to Rs 856.46 crore, on account of higher power and fuel cost in the March ending quarter, while revenue grew 2.4% to Rs 7,900 crore.

Sterlite Technologies (NS: STTE ): The broadband tech company reported a consolidated loss of Rs Rs 22.44 crore in Q4, compared to a net profit of Rs 124 crore in the year-ago period. The revenue grew 19% YoY to Rs 5,754.26 crore in the quarter.

Companies including Maruti Suzuki (NS: MRTI ), Wipro (NS: WIPR ), IndusInd Bank (NS: INBK ), UltraTech Cement (NS: ULTC ), SBI Cards and Payment Services (NS: SBIC ), Star Health and Allied Insurance (NS: STAU ), and HFCL (NS: HFCL ), among others, will release their earnings results for the March quarter on Friday. 

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