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Stocks to Watch: Axis Bank, Bajaj Finance, Britannia, Info Edge, TVS Motor – Mint

NEW DELHI: Here are the top 10 stocks that could be in news today:

Axis Bank: The private sector lender expects collections to slow down in the coming weeks as infections continue to rise, impacting movement of executives on the ground, its chief executive Amitabh Chaudhry said on Tuesday. The bank reported a net profit of 2,677 crore in the three months to March 2021, as compared to a loss of 1,388 crore in the same period last year.

Bajaj Finance: The largest non-bank lender reported a 42% jump in consolidated net profit to 1,347 crore at the end of March owing to improved asset quality. The company said it can mitigate any disruption caused by the second wave of covid infections in the first quarter.

Britannia Industries: The FMCG major reported a 3% decline in consolidated net profit at 360.07 crore in the fourth quarter ended March, impacted by rise in commodity prices. Consolidated total revenue from operations grew 9% to 3,130.75 crore.

Info Edge India: The company will be selling its stake worth 750 crore in Zomato’s upcoming public offering. Info Edge, which has been an early backer of the foodtech platform owned almost 18.4% stake in the company, after its latest funding round in February, this year.

TVS Motor: The company posted nearly four-fold increase in its consolidated net profit to 319.19 crore for the fourth quarter ended March, riding on the back of robust sales in the domestic and international markets. Revenue from operations rose to 6,131.90 crore from 4,104.71 crore.

ABB India: The company posted more than two-fold jump in net profit to 151 crore for the January-March quarter. Total revenue from operations rose to 1,629.15 crore in the quarter from 1,522.24 crore year ago.

Bajaj Finserv: The financial services company will declare its March quarter earnings on Wednesday. The lender had reported 15% rise in consolidated net profit at 1,290 crore for the quarter ended December. The consolidated interest income was marginally lower at 6,599 crore as against 6,699 crore in Q3FY20.

Future Lifestyle Fashions: The company’s board has cleared a resolution plan to rejig existing secured financial debt from its lenders. As part of the resolution plan, the debt raised through the non-convertible debentures issued by the company under Series IV are also proposed to be restructured.

Bank of India: The board of the lender will meet on 30 April to consider the proposal of raising capital, including by way of a further issue of equity shares and Basel III compliant additional Tier-1 and Tier-II bonds.

HDFC Asset Management Company: The AMC on Tuesday reported a 26.5% growth in profit after tax at 316.08 crore for the three months to March. Total income rose 21.3% to 545.57 crore in Q4.

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