HCL Technologies
It is the third largest IT company. The company’s net profit rose 19% year-on-year to Rs 4,096 crore in the December quarter. The company’s net income increased by 20% to Rs 26,700 crore. In the last quarter, the company has secured new deals worth a maximum of $2.35 billion.
Infosys
It is the second largest IT company in our country. The company’s net income for the December quarter was higher than market experts’ estimates on a year-on-year basis. Net income rose 20.2% to Rs 38,318 crore in the December quarter. The company’s profit also increased by 13.4% to Rs 6,586 crore. The company signed a two-year high of $3.3 billion in new deals last quarter alone.
The information technology sector was expected to be more affected due to the US inflation rate problem. However, most market experts are of the view that IT sector companies will give good returns to investors this year as leading IT companies including Infosys posted good quarterly results.
Federal Bank
It is a leading private sector bank headquartered in Kerala. The bank’s net profit increased by 54% to Rs 804 crore. The company’s net interest income also increased by 27.14% to Rs 1,956 crore. The bank’s stock has been a consistent performer, gaining 45% in the past one year alone. Currently trading at Rs.140, the shares of this bank will increase to Rs.180 by the end of this year, many stock brokerage firms have recommended to buy the shares of this bank.
Anandh Rathi Wealth
It is a leading investment services provider. The company’s net profit rose 35% year-on-year to Rs 43 crore in the December quarter. The company’s net income increased by 29% to Rs.140.2 crore.
Last year alone, the company received 1,292 new investors who invested at least Rs.10 lakh. The number of large investors the firm currently manages has grown to 8,202.
ICICI Lombard General Insurance
It is a leading private sector general insurance provider. The company’s net profit rose 11.6% year-on-year to Rs 352.5 crore in the December quarter, falling short of market analysts’ estimates. The company’s insurance premium grew by 17% to Rs 5,493 crore.
ICICI Prudential Life Insurance
It is a leading private sector provider of life insurance. The company’s net profit fell 29% year-on-year to Rs 221 crore in the December quarter. The company’s net income rose 78% to Rs 17,535 crore. In 2019, the company announced that it would double its new insurance premium levels over four years.
The company is currently on track to meet that target by the end of the 2023 financial year. The shares of this company have been giving losses to investors for the past two years. Currently trading at Rs.480, these stocks are predicted to rise up to Rs.600 and many stock brokers have recommended buying this company’s stock.