Stocks to Watch: Canara Bank, Shriram Fin, Colgate Palmolive, Indus Towers, Adani Enterprises
Canara Bank: Canara Bank reported a growth of 43 per cent in net profit to ₹3,606 crore, compared to ₹2,525 crore in the corresponding period last year. The public sector lender's net interest income (NIIs) – the difference between interest earned and interest expended- in the second quarter of the current fiscal rose 19.8 per cent to ₹8,903 crore, compared to ₹7,433.8 crore in the year-ago period. Shriram Finance: The NBFC on Thursday reported a 19.7% yoy increase in AUM to ₹2.03 trillion.
Among loan segments, farm equipment grew the slowest at 5.6%. The fastest growth was seen in personal loans (73.3%), albeit on a smaller base than most other segments. Shriram Finance slowed down its lending for farm equipment in the September quarter on the back of uncertain rainfall, but the company expects rural demand to strengthen, executive vice-chairman Umesh Revankar said.
Colgate Palmolive: FMCG major Colgate-Palmolive India Ltd on Thursday reported a 22.31% increase in net profit at ₹340.05 crore for the second quarter ended on September 30, driven by pricing and efficiencies. The company had posted a net profit of ₹278.02 crore in the July-September quarter a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing. Its sales were up 6.09% during the quarter under review.
Indus Towers: Indus Towers, the world’s largest telecom tower provider, is in discussions with Vodafone Idea to create a ‘time-bound’ plan for the repayment of the telco's dues, even as it has received some pending dues from Vi during the quarter. The executives said they were keeping a close eye on Vi's fundraising plans, which have been in the works for several quarters. Adani Enterprises: Billionaire Gautam Adani’s Adani Group is seeking
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