Stock to Watch Today - Rupeedesk Reports - 25.07.2023
Buzzing Stocks: L&T, Tata Motors, SJVN, Relaxo Footwears, Bajaj Auto & others in news today.
Results on July 25: Larsen & Toubro, Suzlon Energy, Tata Motors, Asian Paints, Bajaj Auto, Ceat, Cyient, Delta Corp, Jyothy Labs, KPIT Technologies, Dixon Technologies (India), Greenply Industries, Indoco Remedies, Jubilant FoodWorks, Man Infraconstruction, Mahindra Holidays & Resorts India, Orient Bell, RattanIndia Power, SBI Life Insurance Company, Sundaram-Clayton, Triveni Engineering & Industries, Amber Enterprises India, Ajmera Realty & Infra India, and Aurionpro Solutions.
Tata Steel: The company reported a net profit of Rs 525 crore in the first quarter of 2023-24 weighed down by its Europe operations. Company's net profit was Rs 7,714 crore in the same quarter a year ago, and Rs 1,566 crore in the quarter ending March 2023. The total revenue from operations came in at Rs 59,490 crore, which is 6.3 percent lower as against Rs 63,430 crore reported in the year-ago period. The revenue clocked is also around 5.5 percent lower as against Rs 62,961 crore reported in Q4FY23.
Tata Motors: JLR India has recorded its best ever first quarter sales in the country in April-June 2023. The company said its retail sales rose 102 percent to 1,048 units in the June quarter as compared with the same period last year.
LIC Housing Finance: The company has fixed August 18, 2023 as the record date for the purpose of ascertaining the eligibility of members for payment of final dividend. The final dividend, if approved by the members in the 34th AGM, will be paid to the eligible members within the stipulated period of 30 days from the date of AGM.
Relaxo Footwears: Company's Q1 Profit after Tax was at Rs 56 crore, up 46 percent YoY, from Rs 39 crore. Q1 Revenue was at Rs 739 crore, up 11 percent YoY. EBITDA stood at Rs 108 crore; margins at 14.6 percent up by 165 bps YoY. The decline in raw material prices led to improved operating efficiency and profitability during the quarter, the company said.
JK Paper: Company recorded a turnover of Rs 1,663.97 crore (up 10 percent), EBITDA of Rs 532.03 Crore (up 16 percent) and Profit after Tax (PAT) of Rs 308.67 crore (up 18 percent) on consolidated basis for the quarter ended June 2023 as compared to corresponding quarter of the previous financial year. The results have improved due to the acquisition of corrugation business during last year and better performance by Sirpur Paper Mills with increased volume and higher sales realisation.
SJVN: The Government of Arunachal Pradesh has allotted five projects totalling 5,097 MW to the company. The projects allocated are 3,097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MWAmulin and 400 MW Mihumdon. All the five projects are located in Dibang Basin, which will result in optimal resources utilization and timely completion of projects, the company said. The development of these projects will involve an investment of more than Rs 50,000 crore.
PNB Housing: Company's net interest income improved by 70 percent YoY and 6 percent QoQ to Rs 629 crore. Profit after Tax increased by 48 percent YoY and 24 percent QoQ to Rs 347 crore. IT also recorded its highest ever Return on Asset in a decade at 2.07 percent in Q1FY24 as compared to 1.61 percent in FY23.
BCL Industries: Company has successfully commissioned a 200 KLPD Ethanol dedicated brownfield expansion at Bhatinda, Punjab, taking the plant’s distillery capacity to 400 KLPD at Bathinda. The company has also commissioned a 10 MW Power Plant that will run on paddy straw. The company expects this power plant to bring down the fuel cost for the distillery segment moving forward. The capex outlay for this expansion was Rs 220 Crore.
Wipro: Wipro FullStride Cloud has partnered with Pure Storage, a provider of enterprise data storage solutions, to help clients accelerate their sustainability journey through the power of technology. The goal is to empower customers to drive a more sustainable data center footprint by providing more efficient strategies to minimize the environmental impact.
Venus Remedies: As per the revised Surveillance Action, trading is permitted on all trading days with +/-2 percent price band under Periodic Call Auction. Further, the company said that the shortlisting of securities under Enhanced Surveillance Measures is purely on account of market surveillance and it should not be construed as an adverse action against the company.
MIC Electronics: Company has received Letter of Acceptance from Sambalpur Division of East-Coast Railway Zone for Provision of several equipment. The aggregate value of the said Work-Order is Rs 3,56,12,140.52. It needs to be completed within six months.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
