Stocks to Watch; Protean eGov Tech, CIL, LIC, Eicher Motors, ONGC, Biocon and others in news
Today, investors will be closely watching several key stocks, including Grasim Industries, Manappuram Finance, NRB Bearings, Vardhman Holdings, Advani Hotels, and Narayana Hrudayalaya, as they announce their quarterly earnings.
Protean eGov Technologies: IPO Listing on Monday, Experts and Grey Market Indicate Potential Listing Gains
Protean eGov Technologies Limited’s IPO is set to be listed on BSE and NSE during a special pre-open session on Monday, 13th November 2023. Market experts and allottees are actively assessing potential listing gains, with hints from the grey market suggesting a possible premium for allottees.
Coal India: Strong Q2 Performance with 9.85% Revenue Increase and 12.51% Profit Growth
Coal India, the country’s largest coal supplier, reported a robust performance in the September quarter, showcasing a 9.85% increase in revenue and a 12.51% rise in profit year-over-year. Despite a significant quarter-over-quarter decline in operating income by 25.78%, the positive results highlight the company’s ability to generate higher revenue and profitability.
LIC: Q2 FY24 Results Show a 9.2% Revenue Decrease and 49.35% Profit Drop YoY
LIC declared its Q2 FY24 results, revealing a 9.2% decrease in revenue and a substantial 49.35% decline in profit year-over-year. However, compared to the previous quarter, revenue grew by 6.85%, while profit decreased by 16.65%. Selling, general & administrative expenses rose significantly both quarter-over-quarter and year-over-year.
Eicher Motors: Royal Enfield Maker Reports 54.7% Rise in Net Profit to ₹1,016 Crore in Q2
Eicher Motors, the maker of Royal Enfield motorcycles, announced a remarkable 54.7% increase in net profit to ₹1,016 crore in the September quarter of FY23-24. The larger-than-expected rise in profit is attributed to strong sales amid growing demand for premium motorcycles.
ONGC: Consolidated Net Profit Surges 142% to ₹16,553 Crore in Q2 FY24
ONGC released its Q2 FY24 results, reporting a significant surge of 142% in consolidated net profit, reaching ₹16,553 crore compared to ₹6,830 crore in the corresponding period last year. However, revenue from operations declined by 13% year-over-year.
Biocon: Q2 FY24 Results Show 49.26% Revenue Growth and 167.8% Profit Increase YoY
Biocon, a leading biopharmaceutical company, announced impressive Q2 FY24 results, with a 49.26% YoY increase in revenue and a remarkable 167.8% YoY growth in profit. Compared to the previous quarter, Biocon experienced a moderate 1.16% increase in revenue and a substantial 23.87% increase in profit.
SAIL: Q2 FY24 Results Highlight 13.2% Revenue Increase and ₹1305.59 Crore Profit
Steel Authority of India (SAIL) declared its Q2 FY24 results, showcasing a 13.2% increase in revenue and a profit of ₹1305.59 crore. This is a significant turnaround from the previous fiscal year, which saw a loss of ₹329.36 crore in the same period.
Apollo Hospitals: Unveils Plans for a ₹675 Crore 250-Bed Hospital in Pune by Q1 FY25
Apollo Hospitals announced expansion plans with a new 250-bed hospital in Pune, expandable to 425 beds within two years, at an overall cost of ₹675 crores. Analysts view the commissioning of the new facility in Q1 FY25 as a positive move contributing to the business.
Sun TV Network: Q2 FY24 Results Reveal 26.98% Revenue Increase and 14.06% Profit Growth YoY
Sun TV Network declared its Q2 FY24 results, showing a robust 26.98% YoY increase in revenue and a 14.06% YoY growth in profit. However, compared to the previous quarter, revenue declined by 22.29%, and profit decreased by 21.51%.
Alcoholic Beverages Industry: Varied Landscape Across States Amid Diwali and Wedding Season
As Diwali and the wedding season unfold, the alcoholic beverages industry in India is experiencing a varied landscape, with different states presenting a mixed bag of opportunities and challenges. Delhi, Karnataka, Pondicherry, and Kerala are expected to see the impact of policy or duty changes, influencing the festive fervor.
