Stocks in news: HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank
Domestic markets reached record highs. HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank, HDFC AMC, and Angel One focus on results. Ashok Vaswani, Kotak’s new chief, stresses tech transformation. HCL Tech reports Rs 4,257 crore profit, Aurobindo Pharma plans share buyback, Blue Star's Rs 27,500 crore market growth projected. DMart profits Rs 774 crore. IREDA profits Rs 384 crore.
Domestic markets experienced one of the best weeks in 2024 with Nifty and Sensex extending closing at record highs last week. In today's trade, shares of , , , , among others will be in focus due to news developments and first quarter results.HDFC Life, Jio Financial, , Angel One,
Shares of HDFC Life, Jio Financial, HDFC AMC, Angel One and SpiceJet will be in focus as the companies will announce their first quarter results today.
HCL Tech
HCL Tech on Friday reported 20% growth in its consolidated net profit at Rs 4,257 crore for the quarter ended June 2024. Revenue from operations increased 7% year-on-year.
IREDA
IREDA reported a net profit of Rs 384 crore for the quarter ended June 2024, which was a 30% uptick year-on-year.
The air-conditioning industry, valued at around Rs 27,500 crore ($3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report.
Kotak Bank
Facing a RBI ban on tech related loopholes, the newly appointed chief of Kotak Mahindra Bank, Ashok Vaswani in his maiden annual letter to shareholders has said that technology will be at the centre of the lender’s efforts to transform and scale further.
FMCG giant Dabur expects a gradual growth in consumption this fiscal as it expands into the rural areas.
The Board of Aurobindo Pharma will meet on July 18 to consider a share buyback proposal.
DMart
DMart reported 17% growth in its consolidated net profit at Rs 774 crore in the first quarter, while revenues were up 19% year-on-year at Rs 14,069 crore.
Source: Stocks-Markets-Economic Times
