Large Cap Indian Stocks: Positive and Negative News on 9 May 2023
The following Large Cap Indian stocks appeared in multiple news articles on 9 May 2023, with either positive or negative sentiment.
Positive Sentiment
- HDFC Bank: The company reported a 23% increase in net profit for the fourth quarter of 2022-23, to Rs 10,306 crore. This was the highest quarterly profit ever reported by the bank.
- Tata Consultancy Services: The company reported a 15.5% increase in net profit for the fourth quarter of 2022-23, to Rs 9,478 crore. This was the highest quarterly profit ever reported by the IT giant.
- Infosys: The company reported a 12.2% increase in net profit for the fourth quarter of 2022-23, to Rs 6,213 crore. This was the highest quarterly profit ever reported by the IT giant.
- Bajaj Finance: The company reported a 22% increase in net profit for the fourth quarter of 2022-23, to Rs 3,132 crore. This was the highest quarterly profit ever reported by the non-banking financial company.
- Adani Group: The company’s shares rose after it announced that it would invest Rs 70,000 crore in renewable energy projects over the next five years.
- Axis Bank: The company’s shares rose after it reported a 10% increase in net profit for the fourth quarter of 2022-23, to Rs 2,914 crore.
- ICICI Bank: The company’s shares rose after it reported a 13% increase in net profit for the fourth quarter of 2022-23, to Rs 5,562 crore.
- L&T: The company’s shares rose after it reported a 12% increase in net profit for the fourth quarter of 2022-23, to Rs 3,259 crore.
- Maruti Suzuki: The company’s shares rose after it reported a 10% increase in net profit for the fourth quarter of 2022-23, to Rs 2,552 crore.
Negative Sentiment
- Reliance Industries: The company’s shares fell after it reported a 2% decline in net profit for the fourth quarter of 2022-23, to Rs 17,055 crore. This was the first decline in the company’s net profit in over a year.
It is important to note that the sentiment of a news article does not necessarily correlate with the impact it will have on a stock price. However, the news articles listed above are all likely to have some impact on the future stock prices of the respective companies.
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