Stocks to keep an eye: HDFC Bank, Infosys, M&M, and IndiGo
Here is a list of the top ten stocks also that are likely to be scrutinized on Monday:
HDFC Bank: The country’s largest private sector lender, HDFC Bank, reported a 23% increase in standalone net profit for the March quarter, to 10,055.20 crores. Driven by increase loan demand across categories and lower provisioning as bad loans were trim.
Infosys: Infosys Ltd. issued a sales forecast that fell short of analyst expectations. Indicating a slowing in demand for software also IT services as businesses exit work-from-home arrangements in a post-pandemic world. This fiscal year, which ends in March 2023. Revenue will rise 13 percent to 15 percent in constant currency terms, trailing the 17 percent growth predicted by analysts.
ICICI Pru Life: ICICI Prudential Life Insurance reported a more than two-fold increase in net profit to 185 crore for the January-March quarter, also owing to solid growth in new business.
ICICI Prudential Life Insurance said a profit after tax of 64 crores for the fiscal year January-March 2021 in a regulatory filing.
Mahindra Holidays & Resorts: Mahindra Holidays & Resorts India Ltd announced on Saturday. That it would increase its holding in Rocksport Pvt Ltd, a firm engaged in soft adventure activities. Also learning programs 23.42 percent by purchasing a little more than 4.88 lakh equity shares for 12 crores.
According to a regulatory filing, Mahindra Holidays & Resorts India Ltd (MHRIL) has agreed to subscribe to an additional 4,88,321 equity shares of Rocksport in three installments for a total cash consideration of 12 crores.
Mahindra & Mahindra: On Saturday, the company announced. That it has agreed to sell over 34.75 lakh shares in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL). Also Representing 22.81 percent of the paid-up capital, to Japan-based Sanyo Special Steel Co Ltd in a 212 crore deal.
IndiGo: IndiGo, promoted by InterGlobe Aviation Ltd., has appointed Vikram Singh Mehta. Former chairman of the Shell group of companies in India. Also BS Dhanoa, former air chief marshal, to the airline’s board of directors as independent non-executive directors.
