Stocks To Watch On November 13: Equity markets were off to a strong start in the special Muhurat trading session on Sunday as optimistic investors dismissed mixed cues from global markets. Analysts expect the current bullish momentum to continue in the near future, albeit with some hiccups on the way.
Q2FY24 earnings today: Grasim Industries, Narayana Hrudayalaya, Manappuram Finance, NRB Bearings.
Protean eGov Technologies: Shares of Protean eGov Technologies will list on the bourses on November 13, 2023.
Sun TV Network: The television broadcaster’s consolidated net profit rose 14 per cent year-on-year (Y-o-Y) to Rs 464.54 crore in the July to September quarter (Q2FY24). The revenue from operations surged 26.98 per cent to Rs 1,048.45 crore
Eicher Motors: The Royal Enfield maker’s consolidated net profit soared 55 per cent Y-o-Y to Rs 1,016 crore in Q2FY24. It’s revenue rose 17 per cent to Rs 4,115 crore, while Ebitda increased 31 per cent on year to Rs 1,087 crore. Ebitda margins expanded to 26.42 per cent vs 23.62 per cent Y-o-Y due to higher scale of operations and reduced raw material costs.
Coal India: The coal miner’s consolidated net profit increased 12.5 per cent Y-o-Y to Rs 6,800 crore in Q2FY24 driven by higher sales and larger profit contribution from CIL’s joint ventures (JV). The firm declared its first interim dividend for the financial year 2023-24 at Rs 15.25 per share. It has fixed Tuesday, November 21, as the ‘record Date’, CIL said in a regulatory filing.
Life Insurance Corporation: LIC’s profit after tax declined by 50 per cent Y-o-Y to Rs 7,925 crore in Q2FY24 as its net premium income declined 19 per cent Y-o-Y to Rs 1.07 trillion.
Jubilant Pharmova: Jubilant Draximage Inc., USA, a wholly-owned subsidiary of Jubilant Pharmova, has received an approval from the US FDA for its Abbreviated New Drug Application (ANDA) for preparation of Technetium Sulfur Colloid Injection.
Hudco: The state-owned corporation posted a 14 per cent rise in net profit to Rs 451.69 crore for the second quarter of FY24.
ONGC: ONGC’s consolidated net profit surged 142 per cent Y-o-Y to Rs 16,553 crore in Q2FY24. The revenue from operations stood at Rs 146,873.73 per cent, down 13 per cent Y-o-Y.
Tata Chemicals: Revenue dips 5.7 per cent Y-oY to Rs 3,998 crore, while net profit fell 27.2 per cent on year to Rs 495 crore. Ebitda margin fell 121 bps at 20.48 per cent vs 21.7 per cent Y-o-Y.
Apollo Hospitals: It has announced a 250-bed new hospital in Pune (expandable to 425 beds in two years) at an overall cost of Rs 675 crore.
Tata Steel: The Kolkata bench of National Company Law Tribunal has approved the Scheme of Amalgamation of S & T Mining Company Limited into and with Tata Steel Limited.
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