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Several key companies including Axis Bank, Tech Mahindra, and Asian Paints are gearing up to announce their Q3 financial results this week. Other firms such as Torrent Pharmaceuticals and NDTV are also slated to present their performance metrics. Notably, due to the Dussehra holiday, no significant results will be announced on Tuesday.
In addition to these companies, Indus Towers, Jubilant Foodworks, Welspun India, and Chalet Hotels are also expected to disclose their financial figures later in the week. This follows ICICI Bank’s recent report of a 36% rise in its Q2 net profit. The bank attributed this increase to loan growth and a rise in fee income, while also noting that asset quality has remained stable.
Meanwhile, Jato Dynamics has reported a shift in the Indian luxury car market. For the first time, sales of vehicles priced over ₹1 crore have outpaced those within the ₹75-99 lakh bracket during the first nine months of 2023.
In other sector news, Ashok Vaswani is set to become the first non-promoter CEO of Kotak Mahindra Bank. Vaswani brings with him a wealth of experience from his tenure at Barclays and Citigroup (NYSE:). His leadership at Kotak Mahindra Bank is expected to be guided by this extensive background in the banking industry.
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