Stocks To Watch: Axis Bank, REC, HDFC Bank, TCS, Bharti Airtel & More

On Wednesday, 24th January hot stocks like TCS, HDFC Bank, Aster DM Healthcare, REC and Axis Bank are among the top 10 stocks likely to be in the focus of the market watchers.

Bharti Airtel

According to Bharti Airtel, it has partially paid the deferred liabilities related to spectrum acquired at a 10% interest cost in 2015's auction by paying the Department of Telecom (Government of India) Rs. 8,325 crores.

Tata Consultancy Services (TCS)

Tata Consultancy Services (TCS) has risen to the top of the French IT sourcing study conducted by global think tank Whitelane Research in 2023, demonstrating its leadership in customer satisfaction. TCS maintained its top spot for the fifth year in a row with an 84% satisfaction rating.

Indus Towers

The audited consolidated results for the third quarter that ended on December 31, 2023, were released by Indus Towers Limited. Consolidated sales climbed 6.4% year on year to Rs. 7,199 crores for the quarter. With an operating margin of 50.3%, consolidated EBITDA of Rs. 3,622 Crores represented a YoY growth of 205.4%. In comparison to the previous year's loss of Rs. 708 Crores, the net profit for the quarter was Rs. 1,541 Crores. On a year-on-year basis, the Return on Equity (Pre-Tax) climbed to 33.5%, while the Return on Equity (Post-Tax) jumped to 24.8% from 12.3% in Q3FY23. On a year-on-year basis, the Return on Capital Employed climbed to 19.2% from 12.5% in the year-ago quarter. Q3 FY23 had an impact of Rs. 2,270 crores due to provision for doubtful debts and Rs. 493 crores from an exceptional item, according to the company.

Aster DM Healthcare

The required amount of shareholder votes has been cast in favour of Aster DM Healthcare Ltd's separation of its GCC business from its Indian operations. Voting on the company's two proposed resolutions ended on January 22, 2024. The shareholders passed resolution 2, which authorised the sale of a major subsidiary, with 99.96% of the votes cast in support of it. After the proposed transaction closes, the company intends to consider paying its shareholders a dividend of between Rs 110 and Rs 120 per share, or 70-80% of the $903 million upfront price, provided all legal clearances are obtained.

HDFC Bank

The bank announced divestment of a 2.01% stake in CAMS over a period between August 25, 2023 and January 23, 2024 (both days inclusive). Through the secondary market channel on the BSE and NSE, the bank sold 9,86,315 shares of CAMS, representing 2.01% of its equity stake. As a result, the bank's shareholding in CAMS is presently 3.94%. The deal was completed with an all-cash consideration of Rs. 252.34 crore, with 9,86,315 shares sold between August 25, 2023, and January 23, 2024 (both days inclusive), at an average selling price of Rs. 2,558.43 per share.

Axis Bank

In the fiscal year 2023-24, the bank reported a standalone net profit of Rs 6,071 crore for the quarter ended in October-December. The private lender reported a 4% YoY rise in its net profit, which came in at Rs 5,853 crore at the same time last year. The bank saw a nine per cent rise in its Net interest income (NII) for the third quarter, coming in at Rs 12,532, crore. For the quarter that ended on December 31, 2023, the net interest margin (NIM) was 4.01 per cent.

REC

On January 23, REC Ltd revealed a net profit of Rs 3,269.3 crore for the quarter that ended in December 2023. This is a 13.6 per cent rise over the same time the previous year. In the third quarter of the previous fiscal year, the company's net profit was Rs 2,878 crore. Net interest income (NII) was recorded at Rs 4,159 crore in Q3FY24, a rise of 18 per cent over the Rs 3,525 crore reported at the same time last year. Compared to the previous quarter, when it stood at 3.14 per cent, its gross non-performing assets (NPA) ratio dropped to 2.78 per cent. Additionally, from 0.96 per cent in the June-September period to 0.82 per cent, the net NPA increased. In Q3FY24, the net interest margin was 3.61 per cent, compared to 3.45 per cent in the previous quarter. Additionally, the provisional coverage ratio climbed from 69.37 per cent in the second quarter to 70.41 per cent.

Oberoi Realty

During the opening of its new tower in Elysian in Oberoi Garden City, Goregaon, Mumbai, Oberoi Realty recorded gross bookings of Rs. 882 crores.

United Spirits

United Spirits Ltd (USL), a spirits manufacturer under Diageo's management, announced on Tuesday, January 23, a 63.5% YoY rise in net profit for the third quarter ended December 31, 2023, at Rs 350.2 crore. According to a regulatory statement by the company, United Spirits reported a net profit of Rs 214.2 crore for the same quarter last year. Compared to the same time in the previous fiscal year, when it was Rs 2,778.7 crore, the business's revenue from operations climbed by 8% to Rs 3,002 crore. In comparison to Rs 371.8 crore during the same time in the previous fiscal year, EBITDA jumped by 30.8% to Rs 486.5 crore in the third quarter of the current fiscal year. During the reporting quarter, the EBITDA margin was 16.2%, compared to 13.4% during the same time in the previous fiscal year.

L&T Finance Holdings

On January 23, L&T Finance Holdings said that its consolidated net profit for the third quarter of the fiscal year 2023-24 jumped by 41.12% to Rs 640.18 crore. The company's overall disbursements for the October-December quarter grew by 13% year on year to Rs 14,865 crore. At Rs. 14,531 crore, up 25% YoY, the company announced its highest-ever quarterly retail disbursements. From Rs. 1,693 crore in Q3FY23 to Rs. 1,833 crore in Q3FY24, its Net Interest Income (NII) jumped by 8%.