Here are some of the stocks that may see significant price movement today.
Axis Bank: The private lender announced a net profit of ₹7,117.50 Crore, higher than street estimates of ₹6,572.70 Crore. In Q4 FY24, the business reported a net profit of ₹7,129.60 Crore. Net Interest Income (NII) was reported at ₹13,811 Crore, slightly higher than market estimates.
Tech Mahindra: The IT major registered a decline of 1.5% in constant currency terms revenue for the fourth quarter. The company’s revenue stood at $1,549 Million. In terms of Indian Rupee, the revenue came in at ₹13,384 Crore. The company’s net profit for the quarter registered a growth of 18.70% on a year-on-year basis to ₹1,166.70 Crore.
SBI Card & Payments: The credit card business announced that its net profit for the period under consideration has slipped 19.40% on a year-on-year basis. The net profit witnessed a decline owing to increased credit costs and provisions.
L&T Technology Services: The IT business reported below expectations results for the fourth quarter. The company said that its net profit stood at ₹311.10 Crore, against ₹322.40 Crore in Q4 FY24, down by 3.5% YoY. The company’s revenue from operations registered a sequential growth of 12.40% to ₹2,982.40 Crore.
IndusInd Bank: The bank refuted any claims suggesting that it has stopped acquisition of new customers in its microfinance segment, reporting that it has not received any instructions from the Reserve Bank of India to do so.
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