Axis Bank on Thursday reported a tepid rise in its December quarter profits on the back of weak business growth, increased slippages and higher credit costs. The bank's profit rose 4% on year to 6,304 crore, largely in line with expectations.
Out of the 11 Adani stocks listed then, seven are yet to recover to the pre-Hindenburg levels though the Nifty index has rallied 29% since then. Three stocks, such as Adani Total Gas, Adani Energy Solutions, and Adani Wilmar, are trading 50-83% lower; while NDTV, Adani Green and Adani Enterprise are down by 30-50%. Adani Power has doubled since the Hindenburg report while Adani Port gained 48%.
Revenue from operations increased 7% to 2.43 lakh crore from 2.27 lakh crore in the year earlier. Consolidated ebitda increased by 7.8% to 48,003 crore.
The U.S. Supreme Courts decision could come Friday in the case about whether TikTok must shut down in a few days under a federal law that seeks to force its sale by the Chinese company that owns the social media platform.
