Axis Bank, HCL Tech gain post robust Q3FY19 numbers

Axis Bank’s net profit for the quarter was 43% above the consensus estimates at Rs1,681cr vs. Rs726cr yoy.

Jan 30, 2019 04:01 IST India Infoline News Service

Stock up
Shares of Axis Bank were trading 5% higher, while those of HCL Tech gained 2% on the BSE in Wednesday’s morning session post their respective earnings number for the third quarter of FY19.

Axis Bank’s net interest income in Q3FY19 was up 18.4% yoy to Rs5,604cr against Rs4,732cr. Net profit for the quarter was 43% above the consensus estimates at Rs1,681cr against Rs726cr yoy. NNPA for the quarter was reported at 2.36% against 2.54% qoq, a decreased of 18bps qoq.

Reacting to results, Axis Bank Ltd's share price is currently at Rs688.35, up by Rs27.55 or 4.17%, from its previous close of Rs660.80 on the BSE. The scrip opened at Rs687.90 and has touched a high and low of Rs703 and Rs684, respectively. So far, 2,26,99,920 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,69,825.62cr.
Meanwhile, HCL Tech also reported a fairly good set of numbers for Q3FY19. The top-line for the quarter grew by 5.6% qoq to Rs15,699cr, which is higher than the median consensus estimate of Rs15,515cr. Dollar revenue grew by 4.9% qoq to $2,202mn. EBIT came in at Rs3,086cr, up 4.1% qoq against the median consensus estimate of Rs3,119cr.

Reacting to strong numbers, HCL Technologies Ltd's share price is currently at Rs1,009, up by Rs20.9 or 2.12%, from its previous close of Rs988.10 on the BSE. The scrip opened at Rs1,015 and has touched a high and low of Rs1,034.75 and Rs1,005.20, respectively. So far 29,88,733 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,37,605.27cr.

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