Buzzing Stocks: Maruti Suzuki, Axis Bank, NBCC, and others in news today – MoneycontrolBy Kalpana Warrier on January 24, 2023 Stocks to Watch: Check out the companies making headlines before the opening bell. 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: 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: 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): The state-owned firm has secured the total business of Rs 309.10 crore for December 2022. 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: 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: 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: 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: 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. Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on WhatsApp (Opens in new window) Published in News Kalpana WarrierMore from NewsMore posts in News »€500 million in private sector investments headed for Ukraine€500 million in private sector investments headed for UkraineRBI asks banks to share information on exposure to Adani Group companies – Business StandardRBI asks banks to share information on exposure to Adani Group companies – Business StandardNSE puts some Adani firms under watch: What is additional surveillance mechanism (ASM)? – The Indian ExpressNSE puts some Adani firms under watch: What is additional surveillance mechanism (ASM)? – The Indian ExpressHindenburg bet against India’s Adani puzzles rival U.S. short sellers – Reuters IndiaHindenburg bet against India’s Adani puzzles rival U.S. short sellers – Reuters IndiaGautam Adani fails to calm investors as market wipeout hits $100 billion – CNNGautam Adani fails to calm investors as market wipeout hits $100 billion – CNN