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27th Apr, 2022

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TVS Motor ties with Rapido to strengthen hyperlocal mobility

Published on: 4:02 pm

TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, has announced a strategic partnership with Rapido, India’s leading on-demand delivery and mobility platform today by signing a Memorandum of Understanding (MoU).
As part of the MoU, TVS Motor and Rapido will look to collaborate by leveraging synergies of their respective businesses in the fast-moving mobility market in India.
Buoyed by an increasingly urban population with ready access to smartphones and increasing penetration of e-commerce and on-demand services across India, the hyperlocal mobility segments bike-taxi, auto-taxi, and delivery has experienced a significant boom and now represents a potentially ~USD15B opportunity. Read More

GRM Overseas elevates Sanjeev Dar as CEO, appoints Dinesh Chhatra as COO for its subsidiary GRM Food

Published on: 3:32 pm

GRM Overseas Limited, one of India’s leading basmati rice exporters and a growing consumer staples player, has elevated the current COO Sanjeev Dar, a process oriented professional with multi-disciplinary experience of over 30 years, as the Chief Executive Officer (CEO), and, appointed Dinesh Chhatra, a seasoned professional having over 25 years of experience in the food & grain industry, as the Chief Operating Officer (COO), of its subsidiary “GRM Foodkraft Private Limited” with effect from April 27, 2022.
Elevation of Sanjeev Dar from COO position to Chief Executive Officer (CEO).
Dar has a Post Graduate in Executive Management Programme from SP Jain Institute of Management & Research, Mumbai and a Bachelor of Agriculture Science from Himachal Pradesh Krishi Vishwa Vidyalaya, Palampur (H.P). He is an Innovative marketer and an enterprising business leader who identifies high yield market opportunity, builds top performing teams, and cultivates long-term customer relationships that manifest in revenue, market share & profit. Read more

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Swaraj Engines climbs 3% as board declares dividend of Rs80 per share

Published on: 3:11 pm

Swaraj Engines Limited has informed that the Board of Directors in its meeting held on April 27, 2022, has recommended and approved a dividend of Rs80 per share (800%) of Rs10 each for the financial year ended March 31, 2022.
This is the highest-ever dividend announced by the company both in terms of per share and absolute payout. Read more

NTPC inks MoU with Energy Vault for gravity-based energy storage technology

Published on: 3:01 pm

NTPC Limited, the largest power generating utility in India, today announced the signing of a Memorandum of Understanding (MOU) with Energy Vault Holdings, Inc. (“Energy Vault), a leader in sustainable, grid-scale energy storage solutions.
The objective of the MOU is to collaborate and formalize a long-term strategic partnership for deployment of Energy Vault’s EVx™ gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study. The technology also offers beneficial utilization of coal ash for manufacturing of composite blocks for Energy Vault’s gravity-based energy storage system.
Gurdeep Singh, Chairman and Managing Director of NTPC said, “As a large, integrated power producer, it is critical for NTPC to have a diverse clean energy portfolio to decarbonize India’s economy. We have enhanced our renewable capacity addition targets to spearhead India’s energy transition goals and we are focusing on Solar, Wind, RTC and Hybrid projects to achieve the targets. Read more

UTI AMC nosedives ~8% as PAT sinks over 60% for Q4FY22

Published on: 2:55 pm

UTI AMC Limited has announced its financial results for the quarter and year ended March 31, 2022.
The company’s Revenue from Operations for FY22 was reported at Rs1,319 crore, up by 13% yoy from FY21. The Core Revenue from Operations for FY22, consisting of Sale of Services, amounted to Rs1,119 crore up by 39% yoy as compared to FY 21.
Revenue from Operations for the January-March quarter reported at Rs301 crore up by 4% yoy against previous corresponding quarter. PBT for the fourth quarter of FY22 was at Rs97 crore, down by 36% yoy against Q4FY21. Read more

HDFC Life’s AUM crosses Rs2 trillion mark in FY22; PAT reported at Rs1,208 crore

Published on: 2:48 pm

HDFC Life Insurance Compay Limited reported Individual WRP growth of 16% resulting in industry market share expansion by 10 bps to 9.3%.
Company’s protection new business premium grew by 47%, and the annuity business logged growth of 24%. New Business Premium for the FY ended March 2022 was reported at Rs24,155 crore as against Rs20,107 crore in FY21.
Total Premium for FY22 stood at Rs45,963 crore as compared to Rs38,583 crore in FY21, logging a growth of 19% yoy. Read more

Infosys launches Infosys Cobalt Financial Services Cloud platform for enterprises

Published on: 2:31 pm

Infosys has announced the launch of Infosys Cobalt Financial Services Cloud, an industry cloud platform for enterprises to accelerate business value and innovation in the cloud across the financial services industry.
Adopted by enterprises globally for enhanced business process transformation and rapid innovation, Infosys Cobalt Financial Services Cloud is a secure, vertical cloud platform that enables enterprises to accelerate cloud adoption, rapidly build cloud native business platforms, drive business agility and growth, foster innovation, and deliver a personalized customer experience. Read more

Q4FY22 Preview: IndusInd Bank: NII seen at Rs91.1 billion, PAT at Rs36.9 billion

Published on: 2:26 pm

IndusInd Bank’s Net Interest Income (NII) could grow 13% in the March 2022 quarter on a year-on-year basis, led by loan growth of 12.6%. Non-interest income though could witness some impact arising from lower treasury income.
Margins could remain stable at 4%. The bank is likely to enhance its buffers and provision coverage and yet, the overall credit costs are ikely to drop significantly. Read more

Lodha Developers delivers best ever annual pre-sales of over Rs14,000 crore for FY22; logs PAT of Rs

Published on: 2:02 pm

Macrotech Developers Limited (Lodha), a leading real estate developer, announced its financial results for the quarter ended March 31, 2022. The company has put forward its best-ever quarterly & annual pre-sales performance along with strong margins.
For Q4FY22, Lodha reported 37% yoy growth in pre-sales and 36% growth in collections as compared to Q4FY21.
India Pre-sales for Q4FY22 stood at Rs3,456 crore, up by 37% yoy against Q4FY21. For FY22, India's Pre-sales reported at Rs9,024 crore, logging a growth of 51% yoy. Read more

Lupin appoints Diana Amador-Toro as Senior Vice President, Global Compliance

Published on: 1:42 pm

Global pharma major Lupin Limited (Lupin) on Wednesday announced the appointment of Diana Amador-Toro as Senior Vice President, Global Compliance. Diana will be responsible for leading Lupin's Global Compliance function including Training, Internal Audit, and Investigations. She will be based in Lupin's Somerset office in New Jersey, USA.
Diana is a senior leader with more than 38 years of field experience in U.S. FDA's Office of Regulatory Affairs (ORA). She previously served in two leadership positions in ORA as the New Jersey District Director and as the Office of Pharmaceutical Quality Operations Division I Director. In these roles, she provided executive leadership in directing and managing FDA pharmaceutical inspectional and compliance activities. Read more

Bharti Airtel to acquire 7% strategic stake in Cloud-service provider Cnergee Tech

Published on: 1:10 pm

Bharti Airtel Limited, India’s premier communications solutions provider, has acquired a strategic minority stake in cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program.
Cnergee is a Navi Mumbai-based company specializing in integrated networking solutions over the cloud for businesses of all respects. Cnergee has created a range of 5 G-ready software tools for Network as a Service (NaaS) that can be deployed at scale to facilitate central remote monitoring, zero-touch service provisioning, and management of all connected devices with a host of real-time analytics. Read more

DCGI approves emergency use of ZyCoV-D as a two-dose vaccine

Published on: 1:01 pm

Zydus Lifesciences Ltd., a discovery driven global lifesciences company has announced that its novel COVID-19 vaccine, ZyCoV-D has received Emergency Use Authorisation (EUA) from the Drug Controller General of India (DCGI) as a two dose vaccine. With this approval, the vaccine will now be administered on day 0 and day 28. Earlier, the vaccine was approved in a three dose regimen to be administered on day 0, day 28 and day 56.
Speaking on the development, Dr. Sharvil Patel, Managing Director, Zydus Lifesciences said, “The approval of a two-dose regimen for ZyCoV-D is a welcome development. This will increase the compliance for the vaccine and reduce the overall time required for vaccination to improve immunity against the virus. Read more

Hindustan Aeronautics and Bharat Electronics sign contract for indigenous IRST for Su-30

Published on: 12:43 pm

Hindustan Aeronautics Limited (HAL), and Bharat Electronics Limited (BEL) signed a contract for co-development and co-production of Long Range Dual Band Infra-Red Search and Track System (IRST) for Su-30 MKI here on Tuesday under the MAKE-II procedure of Defence Acquisition Procedure (DAP) 2020, as part of the 'Make in India' initiative.
The proposed IRST system will be a high end strategic technology product in the field of defence avionics and technically competitive to existing IRST system in the global market with features of Television Day Camera, Infrared & LASER sensors in single window for air to air and air to ground target tracking and localization. The system will enhance the Indian Air Force's air superiority. Read More

Infosys joins hands with Nu Skin for transformation in Beauty and Wellness Sector

Published on: 12:26 pm

Infosys Limited, a leading global player in next-generation digital services and consulting, has announced its collaboration with Nu Skin Enterprises, Inc. a global leader in beauty and wellness.
Nu Skin will benefit from the Infosys Equinox human-centric digital commerce platform to provide consumers and affiliates with engaging and innovative experiences. The platform aims to aid Nu Skin to expand its business model exponentially with social commerce-based capabilities. Read More

ICRA assigns credit ratings to Premier Explosives’ bank facilities worth Rs264.72 crore

Published on: 12:00 pm

Premier Explosives Limited informed that the rating agency ICRA Limited has assigned credit ratings to the company’s long-term and short-term banking facilities.
ICRA has assigned the long-term rating as ‘ICRA BBB+/Stable’. Whilst short-term rating has been confirmed at ‘ICRA A2’.
The total bank facilities reviewed by the rating agency are worth Rs264.72 crore. Read more

Schaeffler India jumps 2.5% on posting growth in Q1CY22 numbers; logs 19% yoy growth in revenue

Published on: 11:47 am

Schaeffler India Limited, a leading industrial and automotive supplier has announced results for the first quarter, ended March 31, 2022.
The company’s total revenue from operations for the Q1CY22 stood at Rs1,567.50 crore, 19% yoy higher than the previous corresponding quarter, and 2.9% sequentially higher than Q4CY21.
Schaeffler’s PBT for Q1CY22 was reported at Rs277.20 crore, registering a growth of 49% as compared to Q1CY21, and 7.9% against the previous quarter. Read more

Thomas Cook India opens Gold Circle Partner Franchise outlet at RDC, Ghaziabad; Stock gains 1%

Published on: 11:41 am

Thomas Cook (India) Ltd., India’s leading omnichannel travel services company, opened a Gold Circle Partner (franchise) outlet in the city centre of Ghaziabad to capitalise on the strong and growing potential of the city and region. Thomas Cook India’s strong distribution and reach in Delhi-NCR, including Ghaziabad, now stands at 12 consumer access centres: 6 owned branches and 6 Gold Circle Partner (franchise) outlets. In addition to serving Ghaziabad, the outlet will also serve as a hub for nearby business and residential areas of Indirapuram, Vaishali, Noida Extension, Surya Vihar, Karkardooma, Meerut and Hapur.
In the new age of travel, customers are understandably seeking the guidance and reassurance of holiday experts and Thomas Cook India’s internal survey reiterates the same, with a significant 77% of respondents stating that they require guidance from a holiday expert. Read more

Reliance Industries market cap crosses Rs19 lakh crore; stock hits 52-week high

Published on: 11:21 am

Shares of Reliance Industries became the first Indian company to cross Rs19 lakh crore in market capitalisation of $250 billion. The stock hit a new 52-week high at Rs2827.10 on Wednesday.
So far this year, the stock has gained 17 per cent, while the one-year return on the stock is more than 40 per cent. The stock contributed 12 per cent to Nifty's market cap weight and makes up 10 per cent of the earnings of the index.Read More

Q4FY22 Preview: Wipro: Revenues seen at Rs208,284 million, PAT at Rs31,399 million

Published on: 11:20 am

Result date: 29^th April, 2022
Recommendation: Reduce
Target price: Rs600
Wipro is likely to meet the mid-point of its revenue growth guidance of 2-4% (sequential) for the March 2022 quarter. Its constant currency revenues (IT services) could grow 3% sequentially amid a healthy demand environment. Acquisitions of LeanSwift and Edgile will also contribute to the company’s topline growth.
Wipro’s EBIT margins could expand 60 bps sequentially, helped by higher forex gains. Read More

IRIS Business Services secures project in Malaysia

Published on: 11:20 am

IRIS Business Services Limited in partnership with two Malaysian companies, has been selected to implement a project which includes among other things, the "Enhancement of Malaysian Business Reporting system (MBRS)" at the Suruhanjaya Syarikat Malaysia (the Companies Commission of Malaysia).
On Wednesday at around 11:21 AM, IRIS Business Services was trading at Rs104.95 per piece lower by 0.38% on the BSE. Previously, the scrip ended at Rs105.35 per piece. The current market cap of the company is Rs201.69 crore. Read more

Tata Coffee slumps 2% despite posting growth in Q4 & FY22 numbers

Published on: 11:16 am

Tata Coffee Limited announced its Standalone and Consolidated results for Q4FY22 and FY22. The company has reported a jump of 8% yoy in total consolidated income for Q4FY22. While PAT for the quarter under review witnessed a growth of 12% yoy.
Company’s Net Sales stood Rs656.26 crore in March 2022, up by 11% yoy as against Rs591.23 crore in March 2021. Its Quarterly Net Profit was reported at Rs40.78 crore in March 2022, down 5.12% yoy as compared to Rs42.98 crore in March 2021.
EBITDA for FY22 stands at Rs118.14 crore, registering growth of 2.53% yoy against Rs115.23 crore in FY21. Read more

Fitch Ratings : APAC Sovereigns dashboard post-pandemic fiscal consolidation to be gradual

Published on: 11:12 am

Fitch Ratings-Hong Kong-26 April 2022: Fiscal deficits in the APAC region are set to narrow modestly in 2022, although the consolidation will remain gradual leading to only limited debt reduction and rebuilding of fiscal buffers in the medium term, Fitch Ratings says. Subdued economic recovery in a large part of Asia is a key reason for the sustained high deficits, as emergence from pandemic-related headwinds has been slower than in other regions. High commodity prices and rising interest rates will add to near-term fiscal challenges.
Government revenue has broadly recovered to 2019 levels, but expenditure is forecast to remain above pre-pandemic levels in most sovereigns in 2022. Pandemic-related spending will roll off further after 2022, but some spending may prove sticky. Read more

Cressanda Solutions board to consider acquisition of Lucida Technologies on April 29; Stock gains 2

Published on: 11:08 am

A meeting of the Board of Directors of Cressanda Solutions Ltd is scheduled to be held on Friday, April 29, 2022, at the registered office of the Company, to discuss, consider and approve the acquisition of Lucida Technologies Private Limited.
Cressanda Solutions Limited, a Mumbai based BSE Listed company, has decided on Tuesday to sign a nondisclosure and a LOI with Bangalore based Lucida Technologies to acquire 100% of the issued and outstanding equity interests of Lucida. Read more

Reliance Industries and TA’ZIZ sign shareholder agreement for Ruwais Chemicals Project

Published on: 11:05 am

Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) and Reliance Industries Limited (RIL), have signed the formal Shareholder Agreement for the TA’ZIZ EDC & PVC project. Reliance is India’s largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA’ZIZ EDC & PVC, a world-scale chemicals development at the TA’ZIZ Industrial Chemicals Zone in Ruwais.
The TA’ZIZ EDC & PVC joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with a total investment of over $2 billion (AED 7.34 billion). These chemicals will be produced in the UAE for the first time, unlocking new revenue streams and opportunities for local manufacturers to “Make it in the Emirates.” Read more

Wipro acquires Rizing to create SAP consulting powerhouse; stock skids ~2.5%

Published on: 10:55 am

Wipro Limited, a leading global information technology, consulting, and business process services company, has signed a definitive agreement for the acquisition of Rizing Intermediate Holdings, Inc. (Rizing).
It is a global SAP consulting firm, significantly expanding its breadth of capabilities in helping businesses restructure into intelligent enterprises.
Latest in the series of acquisitions by Wipro, Rizing perfectly aligns with the ambitious growth agenda of the company. Read more

Munjal Auto Industries to transfer leasehold land at Vadodara; Stock trades lower

Published on: 10:45 am

Munjal Auto Industries Ltd has entered into a Deed of Assignment on April 26, 2022 for transfer of Company's surplus leasehold land admeasuring about 1,68,292 Square Meters situated at 187, GIDC Industrial Estate at Waghodia, Vadodara for lumpsum consideration amout of Rs50.48 crore.
As per the filing, the transfer of the land would take place on fulfillment of conditions by the transferee and after approval of GIDC. Hence it is not feasible to estimate time period of the expected date of transfer. Read more

Lupin enters into strategic partnership with Yabao in China

Published on: 10:33 am

Global pharma major Lupin Limited today has entered into a strategic partnership with Yabao Pharmaceutical Co. Inc. (Yabao), to meet the growing demand for quality drugs with pediatric formulations in the Chinese markets.
The demand for high-quality pediatric medicines has been growing rapidly in China as a result of the government’s support and policy measures. The latest Chinese pediatric pharmaceutical market report indicates that the market for pediatric drugs in China is expected to reach 210 billion CNY (33 billion USD) in 2021, growing at a rate of 9.23%. Read more

KBC Global board to meet on April 29, to consider possibility of entering into mining business

Published on: 10:28 am

KBC Global Ltd. is a leading player in the affordable and mid-income housing segment has informed Exchanges that a meeting of the Board of Directors is scheduled to be held on April 29, 2022 to consider and discuss the possibility of entering into the mining business internationally, and discuss the opportunities available in Africa for acquisition or Joint venture of mines.
Recently last week, Singapore based fund Maybank Kim Eng Securities Pte ltd picked up a stake in the company of 35 lakh shares at Rs9.99 per share as per bulk deal data available on NSE through bulk deal. Read more

AU Small Finance Bank announces 1:1 bonus issue; stock slips 5%

Published on: 10:26 am

AU Small Finance Bank’s counter tumbled nearly 5% in today’s early morning trade post the company’s announcement of a bonus issue in the ratio of 1:1.
The company proposes to issue 31,49,00,031 equity shares of Rs10 each under the issue. The actual number of bonus equity shares to be issued will be determined based on the paid-up share capital as of the record date.
The company is planning to issue bonus shares out of the Share Premium Account available as of March 31, 2022. Read more

Omaxe secures Rs440 crore funding from Värde Partners; Stock up ~3%

Published on: 10:17 am

Omaxe, one of India’s leading real estate development companies, informed that it has raised Rs440 crore from Värde Partners, a leading global alternative investment firm.
The company said it will deploy the funds for expediting construction and delivery of its projects as well as for expansion.
Omaxe Group is developing integrated townships in New Chandigarh, Lucknow, Ludhiana, Indore and Faridabad. It is also developing a multilevel parking cum commercial project in PPP model with North Delhi Municipal Corporation in Chandni Chowk, Delhi scheduled for delivery in this fiscal. Read more

Adani Enterprises raises Rs240 crore on allotment of NCDs; Stock hits 52-week high

Published on: 9:56 am

Adani Enterprises Ltd stock hits 52-week high at Rs2,420 per piece during early trade on Wednesday however soon the industry erased its early gains to trade lower tracking weak broader markets tone. The company announced the allotment of Non-Convertible Debentures on private placement basis on Tuesday.
As per the regulatory filing, the Company has raised Rs240 crore on April 25, 2022 by allotment of 2,400 Rated, Listed, Secured. Redeemable, Principal Protected Market Linked Non-Convertible Debentures ("MLD") of the face value of Rs10,00,000/- each on private placement basis. Read more

Markets trade lower; Nifty 50 below 17,100; IT, banking, oil & gas stock nosedives

Published on: 9:43 am

Indian markets opened on a negative note tracking weakness in global markets as over concerns about rising inflation, interest rates hikes and potential damage to global economic growth from pandemic-related lockdowns in China. Investors are also tracking news developments on the Russia-Ukraine invasion closely which makes market nervous.
At home, selloff was seen in banking, auto, financial, IT, oil & gas, pharma and power stocks pushed benchmarks Sensex and Nifty 50 off the cliff. Sensex has dipped to as much as below 56,850 and Nifty 50 even erased 17,100-level during early deals on Wednesday.
Corporate earnings of heavyweights which had been one of the factors in lifting Sensex and Nifty earlier this week, failed to lift the benchmarks today. Also, globally, Nasdaq hit worst loss since 2020, weighed down by sharp declines in the big tech stocks over worries of their corporate earnings. Read more

Lasa Supergenerics zooms ~3% on bagging Rs50 crore bulk order

Published on: 9:26 am

Lasa Supergenerics Limited, India’s Leading API Manufacturer, has secured a new order of Rs500 million (Rs50 crore) from just 5 customers.
The company has informed that it is delighted that with continuous efforts of its Marketing Team and the superior quality of the product they were able to grab this offer of Rs50 crore from 5 customers only despite the highly competitive market scenario.
This order will help the company to boost its production and contribute to the top line of the Company. Read more

Tata Elxsi expands presence in Kerala with a new technology development center

Published on: 9:20 am

Tata Elxsi, amongst the world’s leading design and technology service providers has announced its new technology development center in Thiruvananthapuram, in the Special Economic Zone of Kinfra Film & Video Park, Kazhakkuttom, Kerala.
This new center is an independent LEED-certified green building comprising 9 floors, providing state-of-the-art labs for EV, Connected Car, OTT, 5G, and Digital technologies, and seating for over 2000 technologists and engineers.
At the handover ceremony in Trivandrum today, Sri. P. Rajeev, Hon’ble Minister for Industries, Law, and Coir, said, “The 9-storey, 2.17 lakh sq ft. building at Kazhakkuttom KINFRA Park is being handed over to Tata Elxsi to accelerate innovation and R&D projects in Kerala. Tata Elxsi has been among the first companies to establish a tech presence in Kerala, and this 75 Cr. project will expand its footprint and create direct and indirect employment for 4000 people.” Read more

VST Industries logs 19.7% yoy growth in PAT for Q4FY22; declares dividend of Rs140 per share

Published on: 9:19 am

VST Industries Limited reported growth in quarterly profit during the Q4FY22. The company managed to withstand the inflationary pressure in Q4 and closed the financial year 2022 with growth in the overall turnover as well profit.
The overall turnover stood at Rs1,559 crore in the FY22, up 5.9% yoy as compared to FY21. The company’s PAT stood at Rs320 crore in FY22, up by 3% against the previous year.
The overall profit in Q4FY22 logged growth of 19.7% as against the previous corresponding quarter. Read more

Indag Rubber stock soars ~2.5% post Q4FY22 numbers

Published on: 9:17 am

Indag Rubber Limited, one of India’s leading tread manufacturing Company, has declared its Audited Financial Results for the Quarter and Full Year Ended March 31, 2022.

FY22 Audited Consolidated Financial Highlights

Total Income stood at Rs173.4 crore
EBITDA stood at Rs7.1 crore
Profit After Tax stood at Rs2.1 crore Read more

Biocon Biologics' Insugen awarded a 3-year contract by Health Ministry, Malaysia

Published on: 9:16 am

Biocon Biologics Limited, a subsidiary of Biocon Ltd has announced that its subsidiary Biocon Sdn. Bhd. in Malaysia has been awarded a 3-year contract, valued at USD 90 million (MYR 375 million), for its recombinant human insulin brand Insugen, by the Ministry of Health (MoH), Malaysia.
Biocon Sdn. Bhd. a subsidiary of Biocon Biologics in Malaysia, will manufacture and supply its range of insulins to its partner Duopharma Marketing Sdn. Bhd. (DMktg), a subsidiary of Duopharma Biotech, a leading pharmaceutical and biotech company in Malaysia. Read more

Mahindra Logistics’ revenue jumps 25% yoy for FY22 at Rs4,083 crore; PAT up 20% yoy

Published on: 9:11 am

Mahindra Logistics Limited, one of India’s large 3PL solutions providers, announced its results for the quarter and financial year ended on March 31, 2022.
The company has reported a revenue of Rs1,073 crore in Q4FY22 as against Rs974 crore in Q4FY21, up by 10.16% yoy. Whilst revenue for the financial year ended March 2022 jumped 25% yoy at Rs4,083 crore as compared to Rs3,264 crore in FY21.
EBITDA for Q4FY22 stood at Rs61 crore as compared to Rs51 crore in Q4FY21, up by 19.61% yoy. For FY22, EBITDA was reported at Rs210 crore as against Rs152 crore in FY21, registering a growth of 38.16% yoy. Read more

Q4FY22 Preview: Axis Bank: NII seen at Rs91.1 billion, PAT at Rs36.9 billion

Published on: 7:24 am

Result date: 28^th April, 2022
Recommendation: Buy
Target price: Rs940
Axis Bank is likely to report a healthy performance for the March 2022 quarter. The bank’s loan growth pegged at ~16% on a year-on-year
basis. Rising share of corporate loans and superior growth in unsecured loans could outline the quarterly performance. Consequently, net interest income (NII) could grow 21% over the year-ago quarter.
Despite marginal increase in operational expenses on a sequential basis, margins could remain unchanged at 3.5%. Read more