Stocks to watch on: HCL Tech, HDFC Bank, PNB Housing Finance


Equity markets closed at record highs on October 14, tracking gains in ITC, HDFC Bank and PowerGrid shares amid mixed cues in global markets. Sensex ended above 61,000 for the first time and Nifty closed above the 18k mark for the second consecutive session.

The 30-stock index closed 568 points higher at a new peak of 61,305 and Nifty rallied 176 points to 18,338. Sensex and Nifty logged record highs of 61,353 and 18,350 during the session.

Here are the stocks that are likely to remain in focus today.

HCL Tech: HCL Technology reported a net profit of Rs 3,265 crore for the July-September quarter, recording a growth of 1.6 per cent on quarter-on-quarter (QoQ) and 3.9 per cent growth on a year-on-year (YoY) basis.

The company’s revenue grew 2.9 per cent QoQ and 11.1 per cent YoY to Rs 20,655 crore. The revenue in constant currency terms grew 3.5 per cent QoQ and 10.5 per cent YoY. The EBITDA margin for the said quarter stood at 23.4 per cent, while the EBIT margin was recorded at 19 per cent.

The bank reported a 18.1 per cent jump in consolidated net profit at Rs 9,096 crore in the July-September quarter of the current fiscal year. The bank had registered a net profit of Rs 7,703 crore during the same quarter last fiscal.

On a standalone basis, after providing Rs 3,048.3 crore for taxation, HDFC Bank earned a net profit of Rs 8,834.3 crore, an increase of 17.6 per cent over the Rs 7,513.1 crore standalone net profit reported in the quarter ended September 30, 2020.

See also  Omni Channel Retail Pharmacy Chain, Wellness Forever files for an IPO

The lender’s standalone net revenue increased 14.7 per cent to Rs 25,085.2 crore during the quarter ended September 30, 2021 from Rs 21,868.8 crore in the quarter ended September 30, 2020.

PNB Housing Finance: Punjab National Bank Housing Finance Ltd, a subsidiary of state-owned Punjab National Bank, in a stock exchange filing said its board has terminated a Rs 4,000 crore deal with US-based Carlyle group-led group of investors.

“At a meeting held today, the board decided not to proceed with the preferential issue and the share subscription  agreements executed with the Proposed Allottees have been terminated in accordance with their respective terms,” PNB said in a stock exchange filing.