Stocks Under Focus on May 2: Wipro, Yes Bank, HDFC, Adani Wilmar & More

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Stocks Under Focus on May 2: Wipro, Yes Bank, HDFC, Adani Wilmar & More

By Malvika Gurung

Investing.com -- Wipro (NS: WIPR ): The IT major’s consolidated profit rose 4% to Rs 3,092.5 crore in the March quarter, led by continued demand for IT services, while revenue climbed 2.68% to Rs 20,860 crore in the quarter.

Yes Bank (NS: YESB ): The private lender recorded its first full-year profit in FY22 since FY19 at Rs 1,066 crore. In Q4, its net profit came at Rs 367 crore, up 37.9% sequentially, while the net interest income (NII) surged 84% YoY to Rs 1,819 crore in the March quarter.

UltraTech Cement (NS: ULTC ): The cement maker’s net profit surged 47.3% YoY to Rs 2,613.75 crore in Q4 FY22, led by effective capacity utilisation and a better demand situation. Its revenue from operations rose 9.45% YoY to Rs 15,767.28 crore in the period.

IndusInd Bank (NS: INBK ): The private bank’s consolidated net profit jumped 51% YoY to Rs 1,401 crore in the March quarter, majorly due to reduced provisioning, down 21.5% YoY, and an improved asset quality performance.

SBI Cards and Payment Services (NS: SBIC ): The credit card company’s net profit rallied 231.12% YoY to Rs 580.86 crore in the March quarter, as bad debts declined 44% YoY to Rs 393 crore, and revenue surged 23% YoY to Rs 2,850 crore in the period, following an increase in the income from fees and services, along with interest income.

Tata Chemicals (NS: TTCH ): The company’s PAT rallied 152% YoY to Rs 470.24 crore in the March quarter even though input costs, fuel & power rose significantly. Revenue climbed 32% YoY to Rs 3,481 crore.

Star Health and Allied Insurance Company (NS: STAU ): The insurer’s loss in Q4 plunged 86% YoY at Rs 82.04 crore in the March quarter.

Companies including HDFC (NS: HDFC ), Adani Wilmar (NS: ADAW ), Britannia Industries (NS: BRIT ), IDBI Bank (NS: IDBI ), Jindal Stainless (NS: JIST ), Mahindra and Mahindra Financial Services (NS: MMFS ) and Tata Consumer Products (NS: TACN ), among others, will report their earnings results for the March quarter on Monday.

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