Buzzing Stocks: Maruti Suzuki, Mahindra & Mahindra Financial, TCS, Dr Reddy’s, others in news

Results on January 31: Maruti Suzuki India, Sun Pharmaceutical Industries, Shree Cement, Ambuja Cements, Bank of Baroda, Dabur India, Amara Raja Energy & Mobility, Atul Auto, Adani Wilmar, Balaji Amines, Data Patterns (India), DB Realty, Dixon Technologies, Fino Payments Bank, GMR Airports Infrastructure, Godrej Consumer Products, IRB Infrastructure Developers, Jindal Steel & Power, Jubilant FoodWorks, Jyothy Labs, Kalyan Jewellers India, Mankind Pharma, PVR Inox, and Suzlon Energy will be in focus ahead of declaring their December quarter earnings on January 31.

Tata Consultancy Services: The country’s largest IT services company announced a 15-year expansion of its partnership with Aviva, the UK’s leading insurance, wealth, and retirement provider, to transform Aviva’s UK Life business and enhance customer experience leveraging the TCS BaNCS-based platform.

Mahindra & Mahindra Financial Services: The non-banking finance company has reported net profit of Rs 553 crore for the October–December period of FY24, falling 12 percent compared to the year-ago period. Net interest income grew by 10 percent YoY to Rs 1,815 crore, but net interest margin fell 60 basis points to 6.8 percent for the quarter.

Larsen & Toubro: The infrastructure major has recorded 15 percent on-year growth in consolidated net profit at Rs 2,947 crore for the quarter ended December FY24. Consolidated revenue from operations grew by 19 percent year-on-year to Rs 55,128 crore, driven by the ramp-up in execution of the strong order book in the projects and manufacturing portfolio, while EBITDA margin dropped 50 basis points to 10.4 percent for the quarter. L&T received orders worth Rs 75,990 crore at the group level during the quarter, rising 25 percent over a year-ago period aided by strong ordering momentum in the Middle East.

Dr. Reddy’s Laboratories: The pharmaceutical company has registered 10.6 percent year-on-year growth in consolidated net profit at Rs 1,378.9 crore for the October-December period of FY24, despite higher tax costs. Revenue from operations for the quarter grew by 6.6 percent to Rs 7,215 crore compared to the year-ago period, driven by market share gains for existing products in North America and the continuation of the growth journey in Europe.

PB Fintech: The Policybazaar operator has recorded net profit of Rs 37 crore for the quarter ended December FY24, against a net loss of Rs 87 crore in the corresponding period of the last fiscal. Revenue from operations increased by 43 percent year-on-year to Rs 871 crore during the quarter, while the cash position improved by Rs 204 crore YoY to Rs 5,150 crore in Q3 FY24. Revenue from the core online marketplaces, Policybazaar and Paisabazaar, grew by 39 percent to Rs 593 crore during the quarter.

SRF: The chemical company has registered a 50.4 percent on-year decline in consolidated net profit at Rs 253.4 crore for third quarter of FY24, missing analysts’ estimates, impacted by lower topline as well as weak operating performance. Consolidated revenue from operations dropped 12 percent YoY to Rs 3,053 crore for the quarter.

Indian Overseas Bank: The Government of India has appointed Joydeep Dutta Roy as Executive Director of Indian Overseas Bank till October 20, 2024. Currently, Currently, Joydeep Dutta Roy is Executive Director of Bank of Baroda.

Cochin Shipyard: The shipbuilding company has reported consolidated net profit at Rs 244.4 crore for third quarter of FY24, climbing 121.4 percent over corresponding period of last financial year. Revenue from operations grew by 64.6 percent year-on-year to Rs 1,056.4 crore during the quarter.

KEC International: The RPG Group Company has recorded net profit at Rs 96.87 crore for quarter ended December FY24, growing 450 percent over a year-ago period on strong operating numbers and higher other income. Revenue from operations increased by 14.4 percent YoY to Rs 5,006.72 crore during the same period, while EBITDA for the quarter jumped 54 percent and EBITDA margin expanded 160 bps to 6.2 percent compared to year-ago period.

Voltas: The home appliance company has posted a net loss of Rs 27.6 crore for the quarter ended December FY24, narrowing from a loss of Rs 110.5 crore in the year-ago period despite a healthy topline impacted by an increase in input costs. Consolidated revenue from operations grew by 31 percent YoY to Rs 2,625.7 crore during the quarter, with the unitary cooling products segment showing 21.4 percent growth at Rs 1,476 crore and the electro-mechanical projects and services business rising 51.4 percent to Rs 982 crore.

Venus Pipes & Tubes: Ace investor Ashish Kacholia has sold 1.03 lakh equity shares, which is equivalent to half a percent stake, in the company via open market transactions at an average price of Rs 1,511.68 per share.

JBM Auto: The auto components manufacturer has reported consolidated net profit at Rs 48.66 crore for quarter ended December FY24, rising 41.7 percent over a year-ago period. Consolidated revenue from operations grew by 41.2 percent year-on-year to Rs 1,346.2 crore during the quarter.

VIP Industries: The luggage manufacturing company has reported consolidated net profit at Rs 7.15 crore for quarter ended December FY24, falling sharply by 84 percent compared to year-ago period impacted by weak operating numbers with rising input cost. Revenue from operations grew by 3.8 percent year-on-year to Rs 546.4 crore for the quarter.

Astral: The CPVC pipes & fittings manufacturer has registered a 19 percent on-year growth in net profit at Rs 113.3 crore for October-December period of FY24. Revenue from operations during the quarter at Rs 1,370.2 crore increased 8.1 percent over a year-ago period.

Nova Agritech: The soil health and crop protection product maker, is set to list its equity shares on the bourses on January 31. The final issue price has been fixed at Rs. 41 per share.

Brisk Technovision: The information technology solutions provider will make its debut on the BSE SME on January 31. The issue price is Rs 156 per share. The stock will be in trade-for-trade segment for 10 trading days.

Star Health and Allied Insurance Company: The company has recorded net profit at Rs 289.55 crore for third quarter of FY24, increasing sharply by 37.6 percent over corresponding period of last fiscal. Net premium earned stood at Rs 3,293.6 crore for the quarter, rising 14.87 percent YoY, however, net commission fell 13.1 percent year-on-year to Rs 350 crore for the quarter.

UTI Asset Management Company: The asset management company said the Board of Directors has approved the re-appointment of Imtaiyazur Rahman as the Managing Director and Chief Executive Officer of the company for another term of two years with effect from June 13, 2024 till June 12, 2026.

Zodiac Energy: The company has entered into power purchase agreement (PPA) with Uttar Gujarat VIJ Company (UGVCL) for procurement of solar power on long term basis. The 5.0 MW PPAs are part of total allotted capacity of 26.8 MW by UGVCL to Zodiac Energy.