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Stocks in news: YES Bank, HDFC, SBI Cards, Wipro and more

Stocks in news: YES Bank, HDFC, SBI Cards, Wipro and more

Stocks in news: YES Bank, HDFC, SBI Cards and Payment Services, Maruti Suzuki, Wipro, Tata Motors and more

Stocks in news: YES Bank, HDFC, SBI Cards and Payment Services, Maruti Suzuki, Wipro, Tata Motors and more Stocks in news: YES Bank, HDFC, SBI Cards and Payment Services, Maruti Suzuki, Wipro, Tata Motors and more

The Indian equity market is likely to open lower today as SGX Nifty fell 218 points to 16,908. Benchmark equity indices Sensex and Nifty on Friday ended lower due to fag-end selling in Axis Bank, Reliance Industries and Infosys.

Sensex plummeted 460.19 points or 0.80 per cent to end at 57,060.87 despite a firm opening. During the day, it hit a high of 57,975.48 and a low of 56,902.30. Nifty tanked 142.50 points or 0.83 per cent to 17,102.55. Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the major laggards from Sensex. In contrast, Kotak Mahindra Bank, HDFC Bank, Sun Pharma, Tata Steel and Dr Reddy's were among the gainers.

Here are the stocks that are likely to remain in news today.

Maruti Suzuki: India's largest automaker Maruti Suzuki India posted a 57.7% jump in quarterly profit on Friday as price hikes and lower sales promotion costs helped the country's top carmaker outweigh the impact of high raw material costs and global semiconductor shortages. The company reported Rs 1,839 crore standalone net profit for the quarter ended 31 March, 2022 as compared with Rs 1,166 crore for the year-ago period. The firm reported a slump of 5.6 per cent in its total sales to 150,661 units in April against 159,691 units in April last year.

Share Market LIVE: Sensex, Nifty likely to open lower today

Wipro: The IT services company reported a 3.8 per cent year-on-year rise in consolidated net profit at Rs 3,087 crore for the quarter ended 31 March, 2022. The company had reported a net profit of Rs 2,972 crore in the year-ago period. Sequentially, the net profit increased 3.9 per cent from Rs 2,969 crore in the previous quarter (Q3FY22).

SBI Cards and Payment Services: The firm reported a jump of over three-fold in its net profit at Rs 580.86 crore in the quarter ended March 2022. The pure-play credit card issuer had reported a net profit of Rs 175.42 crore in the same quarter of the previous fiscal year. The company's total income during the January-March period of 2021-22 rose to Rs 3,016.10 crore against Rs 2,468.14 crore in the same period of FY21, SBI Cards said. Its interest income increased to Rs 1,266.10 crore in the quarter under review from Rs 1,082.42 crore in the year-ago period, while the income from fees and commissions rose to Rs 1,426.81 crore against Rs 1,113.81 crore, it said.

YES Bank: The lender reported that its net profit has increased 37.9 per cent to Rs 367 crore for the January-March quarter, as the private lender's core income grew and provisions fell. During the same quarter in 2021, the bank had reported a loss of Rs 3,788 crore.

Vedanta: The firm is in talks with banks to raise debt of $2.5 billion-$3 billion to bolster its semiconductor and display manufacturing plans as it races to become the country's first chipmaker, a senior company official said. The oil-to-metals conglomerate decided in February to diversify into chip manufacturing and formed a joint venture with Taiwan's Foxconn. It has a total planned investment outlay of $20 billion. Indian Oil Corp (IOC): The OMC rolled out M15 petrol -- 15 per cent blend of methanol with petrol -- on a pilot basis in Assam's Tinsukia district. Union Minister of State for Petroleum and Natural Gas Rameswar Teli launched the M15 petrol in the presence of Niti Aayog member VK Saraswat and IOC chairman SM Vaidya on Saturday.

HDFC: Mortgage lender HDFC Ltd on Sunday raised its benchmark lending rate by 5 basis points, a move that will increase EMI for existing borrowers. The rate increase is in line with other lenders, including the State Bank of India and Bank of Baroda.

Tata Motors: The domestic auto giant announced that its total sales increased 74 per cent year-on-year to 72,468 units in April 2022. The company registered total sales of 41,729 units in April 2021. "Tata Motors Limited sales in the domestic & international market for April 2022 stood at 72,468 vehicles, compared to 41,729 units during April 2021," noted Tata Motors.