Stocks in Focus on Jan 17: HCL Tech, HDFC Bank, IOC & More

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Stocks in Focus on Jan 17: HCL Tech, HDFC Bank, IOC & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- HCL Technologies (NS: HCLT ): The IT major’s net profit and revenue for the December-ending quarter were above the market’s expectations, though its net profit declined 15.6% to Rs 3,442 crore in Q3 FY22, on a YoY basis, but 5.4% up QoQ. Its revenues rose 15.7% YoY to Rs 22,331 crore and declared a dividend of Rs 10/share for the quarter in focus.

HDFC Bank (NS: HDBK ): The private lender’s net profit exceeded Street’s estimates and reported an 18% growth to Rs 10,342.2 crore in Q3, as it's NII grew 13% YoY to Rs 18,443.5 crore and gross NPA ratio declined to 1.26% from 1.35% in Q2 FY22.

Indian Oil (NS: IOC ) Corporation: The state-owned oil company will invest over Rs 7,000 crore to set up gas distribution networks in cities where it has secured a licence in the latest bidding round.

Oil India (NS: OILI ): The company’s subsidiary has exited completely from a US shale oil venture for $25 million.

Maruti Suzuki (NS: MRTI ): The country's largest automaker has hiked the prices of its products by up to 4.3% on an immediate basis, to compensate for the effect of rising input costs. 

Hero MotoCorp (NS: HROM ): The two-wheeler manufacturer announced to invest up to Rs 420 crore in Ather Energy, with an initial shareholding of 34.8%, which will be revised on completion of the round.

Hinduja Global Solutions Ltd (NS: HGSL ): The IT company has acquired the digital and media businesses of NXTDIGITAL Limited.

Companies including UltraTech Cement (NS: ULTC ), Angel One, Sonata Software (NS: SOFT ), HFCL Ltd (NS: HFCL ), Tatva Chintan Pharma Chem (NS: TATV ), and Hathway Cable & Datacom (NS: HAWY ), among others will release their earnings for the December-ending quarter today.

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