Press "Enter" to skip to content

Buzzing Stocks | Wipro, HDFC Bank, Tata Motors, and others in news today – Moneycontrol

Stocks to Watch: Check out the companies making headlines before the opening bell.

Results on January 16: Federal Bank to be in focus ahead of quarterly earnings on January 16. Federal Bank, Angel One, JSW Ispat Special Products, Tinplate Company of India, Kesoram Industries, Bank of Maharashtra, Shree Ganesh Remedies, and Trident Texofab will be in focus ahead of quarterly earnings on January 16.

Wipro: The IT services company has reported nearly 15% sequential growth in consolidated profit at Rs 3,053 crore for quarter ended December FY23, led by better operating performance and higher other income. Revenue for the quarter at Rs 23,055.7 crore grew by 3.1% sequentially and revenue in dollar terms increased by 0.2% QoQ to $2,803.5 million with revenue growth in constant currency at 0.6%. Operating performance was better than analysts' expectations with EBIT growing 11% QOQ to Rs 3,750.4 crore and margin expanding 119 bps to 16.3% for the quarter. Wipro expects revenue growth in the range of 11.5-12% in constant currency terms for FY23.

Wipro: The IT services company has reported nearly 15% sequential growth in consolidated profit at Rs 3,053 crore for quarter ended December FY23, led by better operating performance and higher other income. Revenue for the quarter at Rs 23,055.7 crore grew by 3.1% sequentially and revenue in dollar terms increased by 0.2% QoQ to $2,803.5 million with revenue growth in constant currency at 0.6%. Operating performance was better than analysts’ expectations with EBIT growing 11% QOQ to Rs 3,750.4 crore and margin expanding 119 bps to 16.3% for the quarter. Wipro expects revenue growth in the range of 11.5-12% in constant currency terms for FY23.

HDFC Bank: The country’s largest private-sector lender reported strong double-digit growth in its net profit and a healthy jump in consolidated advances. The lender reported a 19.9 percent jump in its consolidated net profit for the quarter ended December 2022. Beating market estimates, it reported a net profit of Rs 12,698 crore, an increase of 18.5 percent over the quarter ended December 31, 2022. The bank's December quarter net revenue grew by 18.3 percent to Rs 31,488 crore from Rs 26,627 crore last year.

HDFC Bank: The lender reported a 19.9% jump in its consolidated net profit for the quarter ended December 2022. Beating market estimates, it reported a net profit of Rs 12,698 crore, an increase of 18.5 percent over the quarter ended December 31, 2022. The bank’s December quarter net revenue grew by 18.3% to Rs 31,488 crore from Rs 26,627 crore last year.

L&T Finance Holdings: L&T Finance Holdings Q3 profit jumps 39% to Rs 454 crore, net interest margin grows 24% with NIM expanding 70 bps YoY. The non-banking finance company has reported consolidated profit at Rs 454 crore for quarter ended December FY23, growing 39% YoY. Net interest income grew by 24% YoY to Rs 1,693 crore for the quarter with net interest margin (including fees) expanding by 70 bps YoY to 8.8%. The company concluded divestment of the mutual fund business and received sale consideration of Rs 3,485 crore along with surplus cash balance Rs 764 crore, thereby aggregating to Rs 4,249 crore. L&T Finance Holdings' board has approved merger of 3 subsidiaries - L&T Finance, L&T Infra Credit, & L&T Mutual Fund Trustee - with the company.

L&T Finance Holdings: The non-banking finance company has reported consolidated profit at Rs 454 crore for quarter ended December FY23, growing 39% YoY. Net interest income grew by 24% YoY to Rs 1,693 crore for the quarter with net interest margin (including fees) expanding by 70 bps YoY to 8.8%. The company concluded divestment of the mutual fund business and received sale consideration of Rs 3,485 crore along with surplus cash balance Rs 764 crore, thereby aggregating to Rs 4,249 crore. L&T Finance Holdings’ board has approved merger of 3 subsidiaries – L&T Finance, L&T Infra Credit, & L&T Mutual Fund Trustee – with the company.

Dr Reddy's Laboratories: Dr Reddy's Labs acquires trademark rights of breast cancer drug, PRIMCYV, from Pfizer Products India. The pharma company has acquired trademark rights of breast cancer drug, PRIMCYV, from Pfizer Products India. With these rights, the company will use drug in the Indian market. Since May 2022, company has been marketing the drug in collaboration with Pfizer Products India under the brand name PRIMCYV in India.

Dr Reddy’s Laboratories: The pharma company has acquired trademark rights of breast cancer drug, PRIMCYV, from Pfizer Products India. With these rights, the company will use drug in the Indian market. Since May 2022, company has been marketing the drug in collaboration with Pfizer Products India under the brand name PRIMCYV in India.

Tata Motors: Tata Motors files Form 25 for termination of its American Depositary Share program. The company has filed Form 25 with the Securities and Exchange Commission (SEC), USA, for termination of its American Depositary Share Program. SEC Form 25 is the document filed by a company to delist its securities.

Tata Motors: The company has filed Form 25 with the Securities and Exchange Commission (SEC), USA, for termination of its American Depositary Share Program. SEC Form 25 is the document filed by a company to delist its securities.

Mahindra & Mahindra: NCLT approves merger of Mahindra Electric Mobility with Mahindra & Mahindra. The National Company Law Tribunal has approved the merger of Mahindra Electric Mobility with Mahindra & Mahindra. The appointed date of the scheme is April 1, 2021.

Mahindra & Mahindra: The National Company Law Tribunal has approved the merger of Mahindra Electric Mobility with Mahindra & Mahindra. The appointed date of the scheme is April 1, 2021.

DMart: The company's Q3 profit rises 6.6% to Rs 590 crore, revenue up 25%. Avenue Supermarts, owner and operator of DMart chain of retail stores, reported a 6.6 percent rise in consolidated post-tax profit at Rs 590 crore for the quarter ended December 2022 as against Rs 553 crore in the same quarter of the previous year. Total revenue for the October-December quarter stood at Rs 11,569 crore, as compared to Rs 9,218 crore in the same period last year, Avenue Supermarts said in a stock exchange filing on January 14. This indicates a growth of 25.5 percent YoY.

DMart: Avenue Supermarts, owner and operator of DMart chain of retail stores, reported a 6.6 percent rise in consolidated post-tax profit at Rs 590 crore for the quarter ended December 2022 as against Rs 553 crore in the same quarter of the previous year. Total revenue for the October-December quarter stood at Rs 11,569 crore, as compared to Rs 9,218 crore in the same period last year, Avenue Supermarts said in a stock exchange filing on January 14. This indicates a growth of 25.5 percent YoY.

Delhivery: Delhivery completes acquisition of Algorhythm Tech. The logistics company has completed the acquisition of Algorhythm Tech. With this, Algorhythm has become a wholly owned subsidiary of the company w.e.f. January 13, 2023.

Delhivery: The logistics company has completed the acquisition of Algorhythm Tech. With this, Algorhythm has become a wholly owned subsidiary of the company w.e.f. January 13, 2023.

New Delhi Television: Senior officials of New Delhi Television resign. Senior officials of the company - Suparna Singh (President, NDTV Group), Arijit Chatterjee (Chief Strategy Officer), Kawaljit Singh Bedi (Chief Technology and Product Officer) - have resigned. The company is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company.

New Delhi Television: Senior officials of the company – Suparna Singh (President, NDTV Group), Arijit Chatterjee (Chief Strategy Officer), Kawaljit Singh Bedi (Chief Technology and Product Officer) – have resigned. The company is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company.

Whirlpool: Whirlpool's Managing Director Vishal Bhola resigns. Vishal Bhola has resigned as Managing Director of the company, to pursue other interests. He will be relieved from the services of the company as Managing Director with effect from April 4, 2023. The Board has appointed Narasimhan Eswar as Additional Director and Managing Director with effect from same date for a period of 5 years.

Whirlpool: Vishal Bhola has resigned as Managing Director of the company, to pursue other interests. He will be relieved from the services of the company as Managing Director with effect from April 4, 2023. The Board has appointed Narasimhan Eswar as Additional Director and Managing Director with effect from same date for a period of 5 years.

In the green hydrogen/ammonia policy notified by the government manufacturers of both green hydrogen and green ammonia were given identical incentives. (File image)

Bharat Agri Fert & Realty: The Board of directors of the company will consider sub-division of equity share from the face value of Rs 10 per share to Re 1 per share.

Sandip Das