Bajaj Finance, Coal India, Wipro, other stocks to track on Friday

The RBI has lifted certain restrictions imposed on Bajaj Finance in November that stopped the NBFC from sanctioning and disbursing loans under its lending products eCOM and Insta EMI Card. The company can now sanction and disburse loans under the two segments, according to a regulatory filing on Thursday.

 

 

The regulator had imposed the restrictions citing non-adherence to the extant provisions of digital lending guidelines.

 

 

Wipro said it had been selected by US-based Independent Health to implement its Medicare Prescription Payment Plan (MPPP360) platform for the upcoming open enrollment period.

 

 

Starting in 2025, the Medicare Prescription Payment Plan will allow enrollees to make capped monthly payments for out-of-pocket prescription drugs, among other changes, the IT firm said on Thursday.

 

 

Its MPPP360 platform will assist Independent Health in streamlining the payment process to seamlessly integrate these new provisions, simplifying prescription cost management for medicare recipients in Western New York.

 

After market hours on Thursday, Ajanta Pharma reported a 66 per cent year-on-year jump in consolidated net profit to Rs 203 crore for the March quarter. Its quarterly revenue grew to Rs 1,054 crore from Rs 882 crore a year ago, according to a regulatory filing.

Around 50 companies are all set to report their quarterly financial results on May 3, including Titan, Britannia, MRF, Godrej Properties, Tata Technologies, Tatva Chintan, Aarti Drugs, Inox Wind, MRPL and Raymond.

Coal India has staged a strong quarterly performance.

 

 

After market hours on Thursday, the state-run coal behemoth reported a year-on-year jump of more than 26 per cent in consolidated net profit to Rs 8,682.2 crore for the January-March period, boosted by higher supplies of the dry fuel. 

 

Besides Coal India, a string of companies including Federal Bank, Coforge, RailTel and Blue Dart reported their quarterly numbers on Thursday.

The IT company posted weak Q4 results with profit declining 9.7 per cent on year, while revenues inched marginally higher by 1.5 per cent.  Alongside, the company will buy up to 54 per cent stake in Coforge through an open offer at a price of Rs 1415 per share.

The company posted mixed Q4 results with revenue recording a minor 4.1 per cent increase on year, while profit declined 19.4 per cent.  

 

The company in its business update for April month informed that total volume during the month increased 14.1 per cent to 9044 MU. Also, day ahead market price has declined 6 per cent to 5.1 per unit, while day ahead market volume has also registered a decline of 5.25 per cent to 4,116 MU.

The company in its board meeting scheduled on May 7 will deliberate over the interim dividend for the FY 2024-25. The record date to be eligible for the dividend payout has been fixed at May 15, 2024.  

 

CLSA has continued with its 'buy' rating on the stock with a raised target of Rs 770.