Stock to Watch Today - Rupeedesk Reports - 26.10.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Tech Mahindra, Axis Bank, Jubilant Foods, Chalet Hotels, Apollo Microsystems and others in news.
Tech Mahindra: The IT services company registered a consolidated profit of Rs 494 crore for the July–September period of FY24, falling nearly 29 percent QoQ, with a sharp fall in EBIT and margin. Consolidated revenue for the quarter at Rs 12,864 crore fell by 2.2 percent compared to the previous quarter, while dollar revenue dropped 2.8 percent and revenue in constant currency terms fell 2.4 percent on a sequential basis, with a fall in Europe and Rest of the World business, but Americas grew 0.7 percent QoQ. Meanwhile, the company declared an interim dividend of Rs 12 per equity share.
Axis Bank: The private sector lender has recorded standalone profit at Rs 5,864 crore for the quarter ended September FY24, growing 10 percent over a year-ago period despite higher provisions, with operating profit as well as core operating profit increasing 12 percent each YoY. Net interest income grew by 19 percent YoY to Rs 12,315 crore during the quarter, with deposits rising 18 percent and advances up 23 percent YoY. Asset quality improved during the quarter, with gross NPA falling 23 basis points QoQ to 1.73 percent and net NPA declining 5 basis points to 0.36 percent in Q2 FY24.
Jubilant Foodworks: The food services company has reported a massive 39.5 percent on-year decline in standalone profit at Rs 72.1 crore for the quarter ended September FY24, impacted by a sharp fall in EBITDA margin. Standalone revenue from operations grew by 4.5 percent to Rs 1,344.8 crore during the same period, driven by Domino’s delivery channel sales, which increased by 7.9 percent.
Chalet Hotels: The hotel chain has reported healthy growth in financials, with consolidated profit growing 131.4 percent YoY to Rs 36.4 crore, driven by EBITDA margin and topline. Revenue from operations during the same period jumped 27 percent YoY to Rs 314.5 crore, while EBITDA increased 48 percent on-year to Rs 126 crore and margin expanded 570 bps to 40 percent for the quarter.
Chennai Petroleum Corporation: The Indian Oil Corporation's subsidiary has recorded profit at Rs 1,190.56 crore for the July–September period FY24, rising sharply by 117 percent over the previous quarter, driven by a spike in EBITDA. Revenue from operations (excluding excise duty) grew by 12.2 percent QoQ to Rs 16,544.6 crore for the quarter.
Indian Overseas Bank: The Government of India has nominated Kartikeya Misra as Director on the board of Indian Overseas Bank, in place of Annie George Mathew, with immediate effect and until further orders. Annie George Mathew ceases to be a director on the board of the bank with immediate effect.
GVK Power and Infrastructure: The English Court has crystallised the amount payable by the defendants, including GVK Power and Infrastructure, at $2.19 billion, including the amounts towards interest. GVK Power had provided a corporate guarantee to an extent of 49 percent of the overall loan amount of $1.13 billion to GVK Coal Developers Pte Limited, Singapore, for the acquisition and pre-development costs of the Australian coal project. The said loan was classified as non-performing in FY15–16. The lenders had also filed a claim in the High Court of Justice Business and Property Courts of England and Wales Commercial Courts (England Court) in November 2020 and have sought to recover the amounts so advanced to GVK Coal Developers.
Gulf Oil Lubricants India: The Hinduja Group company has registered a 41.2 percent on-year growth in profit at Rs 73.63 crore for the July–September period of FY24. Revenue from operations stood at Rs 802.30 crore, growing 11.51 percent YoY, and EBITDA jumped 25.2 percent on-year to Rs 100.48 crore during the same period.
Indus Towers: The passive telecom infrastructure provider has clocked a 49 percent on-year growth in consolidated profit at Rs 1,295 crore for the quarter ended September FY24, but revenue increased by 10 percent YoY to Rs 7,133 crore during the same period. Consolidated EBITDA jumped 23 percent YoY to Rs 3,456 crore. The company added 16,286 towers during the quarter, bringing the total to 2,04,212 towers compared to the year-ago period.
Sonata Software: The IT services provider has recorded consolidated profit of Rs 124.2 crore for the July–September period of FY24, rising 3.4 percent over the previous quarter despite a fall in topline, supported by EBIT and margin. Revenue from operations during the quarter slipped by 5.1 percent sequentially to Rs 1,912.6 crore. Meanwhile, the company has announced an interim dividend of Rs 7 per share for the current financial year and has received board approval for a bonus issue in the ratio 1:1.
Sona BLW Precision Forgings: The automotive components manufacturing company has registered a 34 percent on-year growth in consolidated profit at Rs 124.06 crore for the quarter ended September FY24. Revenue from operations during the same period increased by 20.6 percent on-year to Rs 787.5 crore, with electrical vehicle programmes contributing 78 percent to the net order book of Rs 22,100 crore as of September 2023.
Rallis India: The Tata Group company recorded a net profit of Rs 82 crore for the July–September period of FY24, rising 14 percent over a year-ago period despite a fall in topline, driven by healthy EBITDA and margin. Revenue from operations fell by 12.5 percent year over year to Rs 832 crore during the quarter.
CMS Info Systems: The company that provides logistics and technology solutions to banks has recorded consolidated profit of Rs 84.4 crore for the quarter ended September FY24, rising 16.3 percent over a year-ago period. Revenue from operations rose 15.3 percent to Rs 543.7 crore during the quarter, against Rs 471.7 crore in the same period last fiscal.
Apollo Micro Systems: The company has entered into a term loan agreement with Bajaj Finance to avail credit facilities up to Rs 15 crore to incur capex for research and development.
Semac Consultants: The board members of the company have approved the appointment of Deepak Jain as Chief Financial Officer with effect from November 17, after Anuj Kumar resigned from the post of Chief Financial Officer due to personal reasons.
IRM Energy: The Gujarat-based gas distribution company, is set to debut on the BSE and NSE on October 26. The final issue price has been set at Rs. 505 per share.
Free Demo Intraday Tips : Whatsapp : 9841986753
Free Demo Commodity Tips : Whatsapp : 9841986753
RUPEEDESK PREMIUM RESEARCH
SEBI REGISTERED RESEARCH ANALYST - INH2000007292
We(rupeedesk.in) are SEBI Registered leading Indian Stock Market Trading Tips Providers for Equity,Commodity and currency market traded in NSE, BSE, MCX, , NCDEX And MCXSX.USDINR,EURINR,GBPINR,JPYINR,Dollar,Euro,Pound,Yen currencies.Indian Currency futures and Options Trading Tips. . Free Currency Tips|Stock and Nifty Options Tips| Commodity Tips |Intraday Tips Register Here : 91-9094047040 |91-9841986753
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
No comments:
Post a Comment