Stocks in news: Wipro, HUL, Angel One, Alembic Pharma, HDFC Life

Markets witnessed a volatile session on Thursday, eventually ending on a flat note as the index took a breather after the recent rebound. Analysts reiterate positive stance on the Nifty and recommend a buy on dips approach, focusing on stock selection based on rotational sectoral trends.

In today’s trade, shares of Wipro, HUL, Angel One, Alembic Pharma, HDFC Life among others will be in focus due to various news developments and fourth quarter results.

Angel One

Angel One reported a sharp rise in profit for the March quarter, driven by strong client activity and operating leverage. Profit after tax stood at Rs 320 crore in the fourth quarter, marking an 84% year-on-year (YoY) increase, while rising 19% sequentially. The strong profit growth was supported by higher trading volumes and better monetisation across segments.Wipro

IT services major Wipro reported 2% fall in its consolidated net profit at Rs 3502 crore in the fourth quarter. The company’s board has also approved a buyback of Rs 15,000 crore, along with its financial results. Revenue from operations, meanwhile, increased 8% YoY to Rs 24,236 crore.

HDFC Life

HDFC Life Insurance said it will issue shares worth Rs 1,000 crore to promoter HDFC Bank on a preferential basis, even as the insurer reported a modest rise in March quarter profit. The company will allot 1.45 crore equity shares at Rs 688.52 apiece to HDFC Bank, subject to shareholder and regulatory approvals. The capital raise aims to strengthen solvency and support future growth.

HUL

Hindustan Unilever Limited has hiked prices across its soap portfolio, passing on rising raw material and packaging costs to consumers, The Times of India reported, with increases ranging between Rs 1 and Rs 20. For FMCG companies that were counting on GST cuts to revive consumption after a prolonged slowdown, the current situation may push back a demand recovery just as early signs of improvement had begun to reflect in recent quarterly earnings.

Alembic Pharma

Alembic Pharmaceuticals Ltd on Thursday said it has received final approval from the US health regulator for its generic version of methotrexate injection used in treatment of different types of cancers and arthritis.