The SGX Nifty signals a weak start for the Sensex, Nifty today. Cues from US markets too remained negative as Dow Jones, S&P 500 and Nasdaq ended in the red on Wednesday. Markets in India staged a sharp recovery in the last hour of trade on Wednesday as the Buy on Dips strategy worked out yet again.
Top stocks to watch today are Bajaj Finance, HDFC Life, SBI Life, Syngene, City Union Bank, besides others.
Bajaj Finance: Bajaj Finance reported a stable set of Q4 earnings on Wednesday. The company’s net profit jumped 30.5% YoY to Rs 3,157 crore against Rs 2,419 crore in the same period last year. The company’s revenue from operations also grew 31.6% to Rs 11,359 crore against Rs 8,626 crore posted in the year ago period. The Net Interest Margins however compressed a bit.
HDFC Life: The insurance major HDFC Life on Wednesday reported a 28.4% drop in its net profit to Rs 361 crore against Rs 506 crore reported in the year ago period. The APE came in at Rs 5,161 crore against Rs 3,049 crore posted during the same period last year, a jump of 69.3%.
SBI Life: SBI Life saw a 15% growth in its Q4 net profit at Rs 777 crore against Rs 672 crore posted in the same period last year. The company’s net premium income in Q4 came in at Rs 19,897 crore, 14% higher against Rs 17,434 crore posted in the year ago period.
Syngene: Syngene reported a healthy set of Q4 earnings on Wednesday with its revenue surging 31% to Rs 994 crore against Rs 758 crore posted in the same period last year. The company’s profit came in at Rs 178.7 crore against Rs 147.8 posted in the year ago period.
City Union Bank: City Union Bank on Wednesday evening said that the Reserve Bank of India (RBI) has approved the re-appointment of N Kamakodi as MD and CEO, for a period of more three years with effect from May 1