Stock to Watch Today: The period of slowdown in the Indian stock market may continue even today. At 8 am, Gift Nifty is seen falling 0.25 percent or 53.5 points at 21618.5. Earlier on Tuesday, BSE Sensex based on thirty shares had closed at 71,139.90 points with a decline of 801.67 points or 1.11 percent. At one time during trading it had fallen to 865.85 points. National Stock Exchange’s Nifty also closed at 21,522.10 points with a decline of 215.50 points or 0.99 percent. The market came down mainly due to selling in Reliance Industries, ITC and Bajaj Finance. In such a situation, today the market will keep an eye on these shares.
L&T: December quarter consolidated net profit recorded a 15% year-on-year increase at ₹2,947 crore. Consolidated revenue from operations grew 19% year-on-year to ₹55,128 crore.
Dr. Reddy’s Laboratories: Despite higher tax costs, consolidated net profit for the December quarter recorded a 10.6% year-on-year growth at ₹1,378.9 crore. Revenue from operations increased 6.6% to ₹7,215 crore compared to a year ago.
SRF: Quarterly figures were weaker than expected due to chemicals business. Ebitda margin increased to 18.5% from 24% last year. Ebitda declined by 32.1% and net profit by 50%.
Voltas: Reported a net loss of ₹27.6 crore in the December quarter, narrowing from a loss of ₹110.5 crore a year ago despite good earnings due to increased input costs. Consolidated revenue from operations grew 31% year-on-year to ₹2,625.7 crore.
tcs: announced the 15-year extension of its partnership with British insurance, wealth and superannuation provider Aviva to transform its business and enhance the customer experience.
PB Fintech: Policybazaar’s parent company posted a net profit of ₹37 crore in the December quarter, compared to a net loss of ₹87 crore a year ago. Revenue from operations increased by 43% to ₹871 crore.
astral: Revenue stood at ₹1,371 crore, below estimates of ₹1,436 crore, while Ebitda grew by 12.8% at ₹204.6 crore, also below estimates. Revenue from the plumbing segment increased 7.1% from last year, while revenue from paint and adhesives increased 10.7%. Both PVC and CPVC divisions recorded inventory losses in the quarter, while pipe sales volumes increased 15% to 52.7 kt.
blue Star: Impressive results that beat expectations and saw revenue grow by 24% to reach ₹2,241 crore, exceeding poll estimates of ₹2,128 crore. EBITDA also displayed a strong performance, rising 48% to ₹155 crore, surpassing the survey estimate of ₹145 crore.
Ramakrishna Forgings: The company has increased its corporate guarantee for its wholly owned subsidiary Ramakrishna Forgings LLC from $2 million to $3.5 million. The purpose of this increase is to help the subsidiary company meet its working capital needs.
M&M Financial: During the earnings call, management revised its guidance, saying that achieving the ROA target of 2.5% by FY2025 will be challenging due to weak net interest margins (NIM). Management estimates that NIMs will be softer than initially estimated.
Aarti Drugs:The company has commenced commercial production of a dermatology product at its newly established facility in Tarapur, Maharashtra. This expansion is in line with the company’s strategic vision of strengthening its presence in the skin care sector.