Tech Mahindra, Adani Transmission, M&M Financial, Adani Ports, Nykaa, Grasim Industries, KSB stocks in focus
时间:2024-06-02 03:21:32 阅读(143)
Indian share market is likely to open on a muted note on Wednesday, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were trading 29 pts or 0.16% down at 18226, signalling a flat start for domestic equities. In the previous session, The BSE Sensex climbed 375 points to 61,121, while the Nifty 50 rose 133 points to 18,145. “Going ahead, Indian markets are likely to continue with its positive momentum with bouts of volatility. Investors would now await the Federal Reserve meeting outcome and commentary that is due on Wednesday,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.Stocks in focus on 2 November, Wednesday
Tech Mahindra: Tech Mahindra on Tuesday reported a 13.6% sequential rise in its net profit at Rs 1,285 crore in the September quarter. On a year-on-year basis, however, the company’s net profit declined 4% from Rs 1,339 crore in the same period last year due to cost inflation and supply side pressures in the last 12 months. The IT major may form a “moonlighting with boundaries” policy in the future, keeping in mind factors like labour laws of the various countries it operates in, client confidentiality, and impact on productivity, CEO and MD CP Gurnani said.
Nykaa: Beauty products retailer Nykaa’s parent FSN E-Commerce on Tuesday posted a 344% on-year jump in its net profit for the quarter ended September to Rs 5.2 crore on the back of improved sales and profitability. The company’s revenue from operations grew 39% on year to Rs 1,230.8 crore on improved demand across the beauty and fashion categories on a low base. Nykaa’s profitability grew 171 basis points to 5% during the quarter on the back of improved gross margins, driven by own brands mix, reduced fulfilment costs and marketing efficiency.
Adani Ports and Special Economic Zone: The company’s consolidated profit increased by 65.5% on-year to Rs 1,738 crore for the quarter ended September FY23, supported by top line, operating income and lower tax cost. Revenue surged 33% on-year to Rs 5,211 crore for the quarter. Cargo for the quarter stood at 86.6 MMT, a 15% on-year growth.
Kansai Nerolac Paints: The company has recorded a 27% on-year increase in consolidated profit at Rs 111.2 crore for the quarter ended September FY23, supported by higher operating income. Revenue from operations grew by 19% on-year to Rs 1,931 crore for the quarter. The quarter witnessed good demand in automotive with the easing of the supply chain challenges, but demand in decorative was subdued due to extended rains.
Tejas Networks: The company has received approval for manufacturing of telecom and networking products under design-led PLI (production linked incentive) scheme. The company has committed to make a minimum cumulative capital investment of Rs 750 crore over the scheme period.
Grasim Industries: The company said its Finance Committee of the Board of Directors has approved issue of non-convertible debentures (NCDs) on private placement basis, for up to Rs 1,000 crore, in one or more tranches.
Also Read: Global gold demand rises 28% to 1,181.5 tonnes in September quarter
Q2 Results Today: M&M Financial Services, Adani Transmission, Dalmia Bharat, EIH, GATI, Gravita India, JK Paper, Kajaria Ceramics, KSB, Mahindra Holidays & Resorts India, MTAR Technologies, Procter & Gamble Hygiene & Health Care, Redington, SIS, and Triveni Turbine are scheduled to declare their quarterly earnings on 2 November.
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