Stocks to Watch: Hero MotoCorp, Axis Bank, Infosys, MCX, Wipro, L&T, Yes Bank
Hero MotoCorp reported a 9.05% rise in consolidated net profit to ?963.82 crore for the September quarter on the back of robust sales
Hero MotoCorp: The country's largest two-wheeler maker reported a 9.05% rise in consolidated net profit to ?963.82 crore for the September quarter on the back of robust sales. Hero MotoCorp had posted a net profit of ?883.78 crore during the July-September period of the previous fiscal.
Axis Bank: Private sector lender reported its September quarter net at ?1,849 crore at a consolidated level against a loss of ?18 crore in the year-ago period despite setting aside a high quantum of money for potential reverses in loans. On a standalone level, Axis Bank had a post-tax net of ?1,682.67 crore as against a loss of ?112.08 crore in the year-ago period.
RBL Bank: Private sector lender RBL Bank reported a 165% jump in its September quarter net profit to ?144 crore. The lender also said it has received the Reserve Bank of India's approval to sell up to 9.9% stake to Baring Asia entity Maple through preferential allotment of shares.
Infosys: IT services firm has completed the acquisition of Blue Acorn iCi. Infosys had, earlier this month, announced inking a pact to acquire Blue Acorn iCi - a digital customer experience, commerce and analytics services provider - for up to USD 125 million (about ?915 crore).
Wipro: The company has signed a definitive agreement to acquire Encore Theme Technologies - a specialist in providing SaaS and Cloud solutions in financial services - for up to ?95 crore.
L&T: Engineering and construction giant Larsen & Toubro (L&T) posted a 45% decline in consolidated net profit to ?1,410.29 crore for the quarter ended September, hit by the covid-19 pandemic. The company had clocked a net profit of ?2,551.67 crore in the year-ago period.
MCX: Multi Commodity Exchange of India (MCX) reported 18% decline in net profit to ?58.55 crore during the second quarter ended 30 September. MCX had posted a net profit of ?71.75 crore during the corresponding quarter last fiscal.
Yes Bank: Swaminathan Janakiraman, the nominee director of Yes Bank appointed by State Bank of India, has resigned with effect from 28 October 2020. In his letter, Janakiraman, has conveyed that State Bank of India will shortly nominate a replacement in his place.
CG Power: The company posted a consolidated net profit of ?109.37 crore for the September 2020 quarter. CG Power and Industrial Solutions had suffered a net loss of ?1,595.21 crore in the corresponding period of the previous financial year.
Earnings: BPCL, IndiGo, Vodafone Idea, Maruti Suzuki, IDBI Bank, and Havells India among others will announce their financial results for the quarter ended 30 September 2020.
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