Stocks to watch: Axis Bank, Maruti Suzuki, Zomato, Tata Motors, Nykaa

axis Bank: Private sector lender reports 56% rise in consolidated net profit in its December quarter 6,187.38 crore, aided by a healthy core income growth that helped widening margins. Core net interest income was up 32% 11,459 crores.

Maruti Suzuki: India’s largest carmaker will announce its fiscal third quarter results (Q3FY23) today. Analysts broadly expect Maruti Suzuki to post a strong year-on-year growth on higher volumes, better product mix and higher realisations. Separately, the company said on Monday it is recalling 11,177 Grand Vitara vehicles to clear a possible defect in the rear seat belt mounting bracket, its second recall within a week.

zomatoThe food tech platform has disabled the option to place orders on its app through a 10-minute service called Zomato Instant since the beginning of this year, as it struggles to find ways to scale up the service. This offer was introduced last year as a pilot in Delhi-NCR and Bengaluru. The company has said that it is working on a new menu and rebranding of the business.

Tata Motors: has said that the voluntary delisting of its American Depository Shares representing common shares from the New York Stock Exchange will be effective at the close of trading on January 23, 2023. There will be no over-the-counter market trading of American Depositary Shares. (ADS) in the US due to regulatory restrictions under Indian law, Tata Motors said in a regulatory filing.

Max Financial Services: PE funds Bain Capital and CVC Capital Partners are among those evaluating to buy promoter stake in Max Financial Services, has reported The Economic Times. Max Financial is the parent of Max Life Insurance, the country’s largest non-bank private life insurance company, in which Axis Bank is a co-promoter with 12.99% stake. Mitsubishi Sumitomo Insurance holds 21.86% stake in Max Financial Services.

Jaypee Infratech: Transfer of banks is completed Jaypee Infratech’s Rs 9,234 crore loan to National Asset Reconstruction Company (NARCL) is the first acquisition for the government-backed bad-loan aggregator, a year after the company started operations.

heroine: FSN E-commerce Ventures, operator of beauty retailer Nykaa, said its board members have appointed P Ganesh as chief financial officer and key managerial personnel of the company with effect from February 3, 2023.

Coal IndiaMahanadi Coalfields, a subsidiary of the coal major, is in the process of diversifying into power generation and will set up a coal-based plant with an investment of approx. 12,000 crore in Odisha.

Gland Pharma: The pharma company has reported a 15% year-on-year decline in its profit 232 crore for the December quarter with a lower topline as well as weaker operating performance. Revenue from operations for the quarter fell 12% year on year 938 crores.

Dilip Buildcon: Company’s joint venture with Skyway Infraprojects has been declared the lowest bidder a A project worth Rs 1947 crore has been started by Madhya Pradesh Jal Nigam Maryadit Bhopal. Also, its subsidiary company Raipur-Visakhapatnam-CG-2 Highway Limited has received the appointment date letter from the National Highways Authority of India and has declared the appointment date as January 9.