Market Update: Key Stocks to Watch Including SBI, Titan, and Axis Bank
Stocks in news: SBI, Titan, Hyundai, BSE, Torrent Pharma, Axis Bank
The Economic Times
Image: The Economic Times
On Thursday, Indian markets experienced volatility but closed nearly unchanged due to resistance at key moving averages. Stocks such as State Bank of India (SBI), Titan, and Axis Bank are in focus as they prepare to announce their fourth-quarter results, with significant profit changes reported by several companies.
- 01SBI, Titan, and Axis Bank will announce fourth-quarter results, impacting market sentiment.
- 02Britannia Industries reported a 21% YoY profit increase, reaching ₹678 crore.
- 03BSE saw a 61% surge in profit, reporting ₹797 crore for the March quarter.
- 04Torrent Pharma captured a 38% market share in the generic semaglutide sector within a month of launch.
- 05Axis Bank secured a $500 million offshore loan, reflecting increasing demand for bank credit.
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Indian stock markets showed volatility on Thursday, closing nearly unchanged amid resistance at key moving averages between 24,550 and 24,750. Key stocks to watch include State Bank of India (SBI), Titan, and Axis Bank, as they prepare to announce their fourth-quarter results. Notably, Britannia Industries reported a 21% year-on-year increase in consolidated net profit, reaching ₹678 crore compared to ₹560 crore in the previous year. The Bombay Stock Exchange (BSE) also reported a significant 61% surge in profit, totaling ₹797 crore for the March quarter. Meanwhile, Torrent Pharma has quickly established a 38% share in the generic semaglutide market following the expiration of a key patent. Additionally, Axis Bank, India's third-largest private lender, has signed a $500 million offshore loan agreement with Mitsubishi UFJ Financial Group, indicating rising demand for bank credit.
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The results and developments from these key companies may influence investor sentiment and market dynamics, potentially affecting stock prices and investment decisions.
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