Stocks in the News: Kotak Bank, HUL, Bajaj Finance, SBI, Vedanta, ITC, RVNL and more

Indian stock  indices extended recent gains by settling marginally higher on Wednesday. Mixed set of Q4 results capped gains as the BSE Sensex rose 114.49 points, or 0.16 per cent, to settle at 73,852.94. The NSE Nifty50 index added 34.40 points, or 0.15 per cent, to end the session at 22,402.40. Here are the stocks that may remain under spotlight before the opening bell on Thursday, April 25, 2024:

Q4 results today: Bajaj Finance, Nestle India, Vedanta, Tech Mahindra, IndusInd Bank, L&T Technology Services, Schaeffler India, ACC, Mphasis, Coromandel International, Laurus Labs, Cyient, Inox Wind, Himadri Speciality Chemicals, Jai Balaji Industries, Welspun Living, Olectra Greentech, Tanla Platforms and Zensar Technologies are among the companies that will announce their Q4 earnings later today.

Hindustan Unilever: The FMCG major reported 5.7 per cent YoY fall in its standalone net profit at Rs 2,406 crore for the March 2024 quarter, dented by weak topline as well as operating numbers. Revenue from operations came in at Rs 14,857 crore, down 0.2 per cent YoY. The board has recommended a final dividend of Rs 24 for FY24.

Axis Bank: The private sector lender returned to black and clocked a standalone net profit of Rs 7,130 crore for the quarter ended on March 31, 2024. However, provisions for bad loans increased for the period. Net interest income grew by 11.5 per cent YoY to Rs 13,089 crore for the quarter.

LTIMindtree: The IT services company reported a consolidated net profit of Rs 1,100 crore for the March 2024 quarter, down 1 per cent YoY. Revenue from operations in the January-March 2024 period rose 2 per cent YoY to Rs 8,893 crore. The Board has also recommended a final dividend of Rs 45 per share for the financial year 2023-24.

Kotak Mahindra Bank: The Reserve Bank of India barred the lender from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards, citing supervisory concerns over its technology platforms. The ban followed an RBI examination of the bank's IT systems over the last two years.

ITC: The FMCG company's meeting of ordinary shareholders will take place on June 6 through electronic mode to consider the proposed scheme of arrangement amongst ITC and ITC Hotels.

The State Bank of India: Financial Services Institutions Bureau (FSIB) has recommended Rana Ashutosh Kumar Singh for the position of Managing Director at SBI. Currently, Singh is serving as the Deputy Managing Director, Retail Banking at SBI.

AU Small Finance Bank: The private lender bank reported net profit of Rs 370.7 crore for the March 2024 quarter, falling 12.7 per cent YoY on the back of a one-time exceptional impact of Rs 77 crore towards fincare merger-related expenses and higher provisions for bad loans. Net interest income came in at Rs 1,337 crore, up 10 per cent YoY.

Indian Hotels: The Tata Group's hospitality arm has recorded consolidated net profit at Rs 438.3 crore for the March 2024 quarter, rising 29.4 per cent YoY, thanks to a strong topline growth and operating numbers. Revenue from operations grew by 17.2 per cent YoY to Rs 1,905.3 crore. The board has recommended a dividend of Rs. 1.75 per share.

Dalmia Bharat: The cement player's consolidated net profit stood at Rs 320 crore in the quarter ended March 2024, which fell 47.4 per cent YoY.  Revenue from operations grew by 10 per cent YoY to Rs 4,307 crore for the quarter, with volume growth at 18.5 percent.

Rail Vikas Nigam: The state-owned railway entity has emerged as the lowest bidder for a project worth Rs 239 crore from Southern Railway. The company will provide an automatic block signaling system in Jolarpettai junction to erode the junction of Salem division in Southern Railway.

Macrotech Developers: The Mumbai-based real estate developer has reported consolidated net profit of Rs 665.5 crore for the quarter ended March 2024, falling 10.6 per cent compared to the year-ago period. However, revenue from operations grew 23.4 per cent YoY to Rs 4,018.5 crore during the period.

RITES: The transport infrastructure consultancy has signed an MoU with Damodar Valley Corporation (DVC), a statutory body under the Ministry of Power, to collaborate on project management consultancy for rail infrastructure works.

National Aluminium Company: Khanij Bidesh India (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research and the National Geophysical Research Institute (CSIR-NGRI) to foster a long-term collaboration in the field of geophysical investigations to bolster its ongoing projects and activities in critical and strategic minerals.