Stocks to Watch: HDFC Bank, Piramal Pharma, ICICI Securities, IREDA
HDFC Bank: India’s largest private sector lender registered a 2.5% sequential growth in net profit at ₹16,372.54 crore for the December quarter, partly affected by higher bad loan provisions. Net interest income grew by 4% sequentially to ₹28,471 crore during the quarter. Piramal Pharma: Piramal Critical Care, a division of Piramal Pharma, announced the launch of a new concentration of zinc sulfate injection in the US market.
The launch will allow PCC to expand its existing zinc sulfate injection product line and overall generics injectables portfolio. L&T Technology Services: The company reported net profit of ₹336.2 crore for the December quarter, up 6.6% from a year ago. Revenue from operations rose 1.5% sequentially to ₹2,421.8 crore.
Godrej Properties: The company acquired an additional acre of land in Yeswantpur in Bengaluru. The land could yield nearly 1.4 lakh square feet of saleable area. IREDA: The company has signed an MoU with Indian Overseas Bank for co-lending and loan syndication for renewable energy projects.
DCB Bank: The RBI has approved the appointment of Praveen Achuthan Kutty as MD & CEO of the bank from 29 April. TV18 Broadcast Ltd: TV18 posted a 5% on-year decline in consolidated revenue at ₹1,676 crore for the December quarter. Revenue from the news segment surged 23% with strong advertising-revenue growth.
ICICI Securities: The company reported 66.6% year-on-year growth in standalone profit at ₹465 crore for the December quarter, backed by a healthy topline and operating performance. Revenue from operations grew by 50.5%to ₹1,322.4 crore from a year ago. Adani Energy Solutions: The company said its transmission and smart metering business maintained 99.67% system availability in Q3 and added 302
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