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Buzzing Stocks: Maruti Suzuki, Axis Bank, NBCC, and others in news today

Stocks to Watch: Check out the companies making headlines before the opening bell.

January 24, 2023 / 06:47 AM IST
Results on January 24: Maruti Suzuki to be in focus ahead of quarterly earnings on January 24. Maruti Suzuki India, HDFC Asset Management Company, Colgate-Palmolive, CG Power and Industrial Solutions, Chalet Hotels, Gateway Distriparks, Granules India, Indoco Remedies, Indus Towers, Latent View Analytics, Macrotech Developers, Motilal Oswal Financial Services, Nazara Technologies, Pidilite Industries, PNB Housing Finance, SBI Cards and Payment Services, Sona BLW Precision Forgings, Tata Coffee, TVS Motor Company, and United Spirits will be in focus ahead of quarterly earnings on January 24.
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Results on January 24: Shares of Maruti Suzuki India, HDFC Asset Management Company, Colgate-Palmolive, CG Power and Industrial Solutions, Chalet Hotels, Gateway Distriparks, Granules India, Indoco Remedies, Indus Towers, Latent View Analytics, Macrotech Developers, Motilal Oswal Financial Services, Nazara Technologies, Pidilite Industries, PNB Housing Finance, SBI Cards and Payment Services, Sona BLW Precision Forgings, Tata Coffee, TVS Motor Company, and United Spirits will be in focus ahead of quarterly earnings on January 24.
Axis Bank: Axis Bank Q3 earnings beat estimates, profit jumps 62% to Rs 5,853 crore despite higher provisions; net interest income up 32%. The private sector lender has reported a massive 62% year-on-year increase in Q3FY23 profit at Rs 5,853 crore despite higher provisions, led by healthy other income, operating profit and net interest income. Net interest income grew by 32.4% to Rs 11,459 crore compared to year-ago period, with strong 15 percent loan growth and an expansion in net interest margin. Asset quality improved but slippages remained elevated on sequential basis for the quarter.
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Axis Bank: The private sector lender has reported a massive 62% year-on-year increase in Q3FY23 profit at Rs 5,853 crore despite higher provisions, led by healthy other income, operating profit and net interest income. Net interest income grew by 32.4% to Rs 11,459 crore compared to year-ago period, with strong 15 percent loan growth and an expansion in net interest margin. Asset quality improved but slippages remained elevated on sequential basis for the quarter.
State Bank of India: SBI, MMRDA join hands to provide NCMC-based ticketing solutions for Mumbai Metro Lines 2A & 7. The country's largest lender has partnered with MMRDA (Mumbai Metropolitan Region Development Authority) to provide NCMC-based (National Common Mobility Card) ticketing solutions for Mumbai Metro Lines 2A & 7. SBI is the exclusive issuer of NCMC cards, reports CNBC-TV18.
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State Bank of India: The country's largest lender has partnered with MMRDA (Mumbai Metropolitan Region Development Authority) to provide NCMC-based (National Common Mobility Card) ticketing solutions for Mumbai Metro Lines 2A & 7. SBI is the exclusive issuer of NCMC cards, reports CNBC-TV18.
NBCC (India): NBCC India secures total business of Rs 309.1 crore for December 2022. The state-owned has secured the total business of Rs 309.10 crore for December 2022.
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NBCC (India): The state-owned firm has secured the total business of Rs 309.10 crore for December 2022.
Sterlite Technologies: Sterlite Technologies to consider raising funds on January 27. The company said the board of directors will consider the proposal of fund raising on January 27. The fund raising will be by way of equity shares or other securities through rights issue.
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Sterlite Technologies: The company said the board of directors will consider the proposal of fund raising on January 27. The fund raising will be by way of equity shares or other securities through rights issue.
Karur Vysya Bank: Karur Vysya Bank gets board approval for re-appointment of B Ramesh Babu as MD & CEO. The private sector lender has received approval from board of directors for re-appointment of B Ramesh Babu as Managing Director and CEO of the bank. He will be MD & CEO of the bank for second term of three years with effect from July 29, 2023.
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Karur Vysya Bank: The private sector lender has received approval from board of directors for re-appointment of B Ramesh Babu as Managing Director and CEO of the bank. He will be MD & CEO of the bank for second term of three years with effect from July 29, 2023.
Tata Motors: Tata Motors in pact with ICICI Bank to offer financing for EV dealers. The Tata Group company has partnered with ICICI Bank to offer financing solutions for its passenger electric vehicle dealers. Under the tie up, the bank will provide inventory funding to EV dealers.
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Tata Motors: The Tata Group company has partnered with ICICI Bank to offer financing solutions for its passenger electric vehicle dealers. Under the tie up, the bank will provide inventory funding to EV dealers.
Satin Creditcare Network: Satin Creditcare Q3 profit rises 75% to Rs 59 crore, net interest income grows 36% to Rs 261 crore. The company has recorded a massive 75% year-on-year growth in consolidated profit at Rs 58.7 crore for December FY23 quarter despite significantly higher impairment of financial instruments, partly driven by lower employee cost and other expenses. Net interest income for the quarter at Rs 261 crore grew by 36.3 percent compared to year-ago period.
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Satin Creditcare Network: The company has recorded a massive 75% year-on-year growth in consolidated profit at Rs 58.7 crore for December FY23 quarter despite significantly higher impairment of financial instruments, partly driven by lower employee cost and other expenses. Net interest income for the quarter at Rs 261 crore grew by 36.3 percent compared to year-ago period.
Poonawalla Fincorp: Poonawalla Fincorp Q3 profit surges 89% to Rs 182 crore with healthy net interest income growth of 42% YoY. The non-banking finance company has registered a strong 89% year-on-year growth in consolidated profit at Rs 182.1 crore for quarter ended December FY23, with writeback of impairment of financial instruments for the quarter. Net interest income grew by 42% YoY to Rs 463.7 crore during the quarter.
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Poonawalla Fincorp: The non-banking finance company has registered a strong 89% year-on-year growth in consolidated profit at Rs 182.1 crore for quarter ended December FY23, with writeback of impairment of financial instruments for the quarter. Net interest income grew by 42% YoY to Rs 463.7 crore during the quarter.