Top stocks in focus: Axis Bank, Bajaj Finserv, Bajaj Auto, HUL, SBI Life

28 Apr 2022 , 08:54 AM

ONGC has signed an MoU with Norway-based Equinor ASA for exploration and production, and clean energy.

Life Insurance Corporation of India bought 1.36 lakh equity shares in Tata Consumer Products via open market transactions on April 26. With this, LIC’s shareholding in the company stands increased to 5.008 percent, up from 4.993 percent earlier.

Persistent Systems clocked a 14 percent sequential growth in profit at Rs 200.9 crore driven by topline as well as operating income.

Bajaj Auto recorded a 10.3 percent year-on-year growth in profit at Rs 1,469 crore in the quarter ended March 2022. EBITDA dropped 10 percent to Rs 1,396 crore.

Trent posted a loss of Rs 20.87 crore for the quarter ended March 2022 against a profit of Rs 17.44 crore in the same period last year, as overall expenses jumped 49 percent in the same period, but revenue was very strong, growing 46.7 percent to Rs 1,328.9 crore compared to the year-ago period.

HDFC Asset Management Company reported an 8.7 percent year-on-year growth in profit at Rs 343.55 crore supported by other income and lower tax cost. Revenue grew by 2.6 percent YoY to Rs 516.28 crore during the same period.

Hindustan Unilever profit rose 8.6 percent year-on-year to Rs 2,327 crore on double-digit growth in topline and operating income, though margin contracted by 30 bps YoY.

Results today: Axis Bank, Bajaj Finserv, Ambuja Cements, SBI Life Insurance Company, Vedanta, Agro Tech Foods, Biocon, Coromandel International, Embassy Office Parks REIT, Fineotex Chemical, IIFL Finance, IndiaMART InterMESH, Laurus Labs, Motilal Oswal Financial Services, Mphasis, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, Shoppers Stop, Shriram Transport Finance, Sterlite Technologies, and Varun Beverages.