Stocks to watch: Axis Bank, Britannia, Bajaj Finance, Info Edge, HDFC AMC

Stocks to watch: Axis Bank, Britannia, Bajaj Finance, Info Edge, HDFC AMC
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Nifty futures on the Singapore Exchange traded 36 points higher at 14,695, indicating a firm start for the benchmark indices on Wednesday.

Here are the top stocks that are likely to be in focus today:

Earnings Today: A total of 21 companies are slated to post their March quarter results today including Bajaj Finserv, Biocon, Mastek, Tata Communications, UTI Asset Management Company, SIS and Bombay Dyeing & Manufacturing.

Axis Bank: The private sector lender reported a return to profit at Rs 2,677 crore in the quarter ended March 2021 due to a sharp fall in provisions. The lender had reported a standalone net loss of Rs 1,388 crore in the year-ago period. READ MORE

Britannia: FMCG major Industries reported a 3 per cent YoY decline in consolidated net profit at Rs 360.07 crore in the fourth quarter ended March 31, impacted by rising in commodity prices. It was after 6 quarters that reported a decline in profit.

Bajaj Finance: The company’s consolidated profit jumped 42 per cent YoY to Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021. The company’s net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20.

Info Edge: The company said it will sell stake worth Rs 750 crore in the initial public offering (IPO) of its investee company Zomato.

Future Lifestyle Fashions: The company board has approved a resolution plan to restructure the existing secured financial debt from the bankers of the company. The debt raised through the company’s NCDs under Series IV is also part of the existing debt and is proposed to be restructured.

Bank Of India: The PSU lender’s board will meet on April 30 to consider a proposal to raise capital by way of a further issue of equity shares and BASEL III Compliant Additional Tier-1, Tier-II bonds.

PNB Housing Finance: The company reported a consolidated net profit of Rs 127 crore for the last quarter of fiscal ended March 2021 as against a net loss of Rs 242 crore in same quarter a year ago.

HDFC AMC: HDFC Asset Management Company (AMC) reported a 26.52 per cent YoY growth in profit after tax (PAT) at Rs 316.08 crore for the three months to March 2021. In comparison, the company had posted a PAT of Rs 249.83 crore in the same period a year ago.

United Breweries: The beer maker clocked an over two-fold jump in consolidated net profit at Rs 97.53 crore in the fourth quarter ended March 31, riding on good volume growth in across the country. The company had posted a consolidated net profit of Rs 41.82 crore in the year-ago quarter.

TVS Motor: TVS Motor Company posted nearly four-fold increase in its consolidated net profit to Rs 319.19 crore for the fourth quarter ended March 31, 2021, riding on the back of robust sales in the domestic and international

Hathway Cable: The share sale in Hathway Cable Datacom saw more bids than shares on offer, helping the promoter (Reliance Industries-led firms) pare their holding in the cable broadband service provider to comply with the 25 per cent minimum public shareholding norms.

Nippon Life India Asset Management: The company reported a profit of Rs 166.77 crore in Q4 FY21 against Rs 3.72 crore in Q4 FY20. The revenue, meanwhile rose to Rs 301.90 crore from Rs 274.50 crore.

Bharat Forge: NCLT approved the resolution plan submitted by Bharat Forge for acquisition of Sanghvi Forging & Engineering.

, Stocks to watch: Axis Bank, Britannia, Bajaj Finance, Info Edge, HDFC AMC, Dear Reader,

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