Stocks To Track Today: SBI Life, HCL Tech, ICICI Bank, Yes Bank Among Top Stocks To Watch (image source: IStock)
Stocks To Watch: SBI Life, ICICI Bank, HCL Tech, and Yes Bank are among the top stocks to watch today.
Stock Market Today
GIFT Nifty on Monday at 8:35 am was up by 56 points or 0.25 per cent at 22,646. The index hinted at a flat start for D-Street. Ahead of market opening check stocks to watch that you can track for the day.
Stocks To Watch
SBI Life Insurence:
SBI Life reported a 4.3 per cent year-on-year (YoY) increase in profit for the quarter ended March 2024, reaching Rs 811 crore compared to Rs 777 crore in the corresponding quarter of the previous financial year. The net premium income during the quarter surged by 26 per cent YoY to Rs 25,116 crore. In FY24, the insurer’s value of new business (VoNB) grew by 9 per cent to Rs 55.5 billion, with a VoNB margin standing at 28.1 per cent.
ICICI Bank
India’s second-largest private lender, ICICI Bank, reported a standalone net profit of Rs 10,707.53 crore for the quarter ended March 31, 2024, marking a 17.38 per cent increase from Rs 9,121.87 crore reported in the year-ago period. The bank also disclosed interest income earned during the quarter, totalling Rs 37,948.36 crore, up by 22.33 per cent from Rs 31,021.13 crore reported in the corresponding period last year. Additionally, the company’s board of directors has recommended a dividend of Rs 10 per share for FY2024.
HCL Tech
HCL Technologies disclosed its January-March quarter results for fiscal 2023-24 (Q4FY24), revealing a slight uptick of 0.1 per cent in its consolidated net profit to Rs 3,986 crore, as opposed to Rs 3,983 crore in the corresponding period of the previous year. The revenue from operations for India’s third-largest software and information technology (IT) service company during the fourth quarter of FY24 surged by 7.1 per cent to Rs 28,499 crore, compared to Rs 26,606 crore reported in the same period last year.
Yes Bank
Yes Bank reported a standalone net profit of Rs 452 crore for the quarter ended March 31, 2024, marking a significant 123 per cent increase over the Rs 202.43 crore reported in the year-ago period. The lender also recorded interest income of Rs 7,447.17 crore, representing a notable 20 per cent year-on-year jump from Rs 6,216.24 crore reported in the corresponding quarter of the last financial year.
