Axis Bank, Wipro, SBI, LTIMindtree among stocks to watch out for today

Equity market settled higher to hit nine-week high on Thursday. All round buying across the sectors pushed led the rally. Consistent buying from foreign investors supported the sentiment. NSE's Nifty50 gained 101.45 points, or 0.57 per cent to close at 17,915.05 and Sensex jumped 348.80 points, or 0.58 per cent to settle at 60,649.38. 

Here’s a look at stocks that are likely to remain in news today.  

Axis Bank 

Private lender reported a standalone loss of Rs 5,728.42 crore for the March quarter compared with a profit of Rs 5,853.07 crore in December and Rs 4,117.77 crore in the same quarter last year.  

Tech Mahindra 

The IT firm reported a 26% decline in consolidated net profit at Rs 1,118 crore for the quarter ended March 31, 2023 as challenging macro-economic conditions prompted clients to tighten spending. However, revenue rose 13% to Rs 13,718 crore in Q4FY23. 

Wipro 

IT major Wipro reported a 0.4 per cent year-on-year (YoY) fall in consolidated net profit at Rs 3,074.50 crore for the March quarter compared with Rs 3,087.30 crore in the same quarter last year. Consolidated revenue rose 11.17 per cent to Rs 23,190.30 crore compared with Rs 20,860 crore in the year-ago quarter. 

 Godrej Consumer Products 

The company announced that it has inked an agreement to acquire the FMCG business of Raymond Consumer Care Limited (RCCL), a leading player in the deodorants and sexual wellness categories in India. The RCCL FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale. 

Adani Enterprises  

The Adani Group is in talks with lenders to raise $1-1.5 billion for financing new green energy projects in the conglomerate's biggest borrowing since it came under attack from a US short seller in January.  

SBI 

The country's largest lender said it has raised $750 million via bonds to fund offshore business growth. The bank said acting through its London Branch, priced a 5-year $750 million bond issuance at a coupon rate of 4.875 percent. The bonds are benchmarked against a 5-year US treasury and priced at a spread of 145 bp over the benchmark. 

LTIMindtree 

The company logged a consolidated net profit of Rs 1,113.7 crore for the fourth quarter that ended March 31, 2023 against a net profit of Rs 1,108 crore. In the March quarter, total revenue stood at Rs 8,691 crore during the period under review, up 22 percent against Rs 7,128 crore in the corresponding period of the preceding fiscal. 

ACC  

The cement maker reported a fall of 40.53 percent in its consolidated net profit at Rs 235.66 crore for the quarter ended March 2023 against a profit of Rs 396.33 crore in the January-March quarter a year ago. Total revenue from operations in Q4 was at Rs 4,790.91 crore, up 8.23 percent, as against Rs 4,426.54 crore in the corresponding period a year ago. 

IOC  

Tesla Power USA said it has inked an agreement with Indian Oil Corporation Ltd (IOCL) to sell and service batteries at the state-owned firm's petrol pumps. The partnership will enable Tesla Power to sell and service batteries at over 36,000 IOCL petrol pumps across India.  

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