Buzzing Stocks: Paytm, Tata Power, ONGC, Tata Power, IRFC, Bandhan Bank, others in news

Results on February 12: A total of 480 companies will release their quarterly earnings scorecards on February 12, including Coal India, Bharat Forge, Allcargo Logistics, Anupam Rasayan India, BLS E-Services, Cera Sanitaryware, Dilip Buildcon, GSK Pharmaceuticals, Hindustan Aeronautics, HEG, Krsnaa Diagnostics, Mazagon Dock Shipbuilders, Samvardhana Motherson International, NHPC, Steel Authority of India, and Skipper.

One 97 Communications: The Paytm operator said the Board of Directors formed a Group Advisory Committee chaired by former Sebi Chairman M Damodaran to work with the board in further strengthening compliance and regulatory matters. The committee includes MM Chitale, former president of the Institute of Chartered Accountants of India (ICAI) and a former governing council member of the Banking Codes and Standards Board of India nominated by the RBI. The committee also includes banking experts like Ramachandran, former chairman and managing director of Andhra Bank.

Oil and Natural Gas Corporation: The state-owned oil and gas exploration company recorded consolidated profit of Rs 9,536 crore for the quarter ended December FY24, down 13.7 percent compared to the year-ago period. Revenue from operations dropped 9.8 percent YoY to Rs 34,789 crore for the quarter, with crude oil price realization falling 6.4 percent YoY to $81.59 a barrel.

Tata Power Company: The Tata Group company recorded net profit at Rs 1,076 crore for the third quarter of FY24, growing 2 percent over a year-ago period, supported by better realization in the core business segments consisting of generation, transmission & distribution, and renewables. Revenue from operations grew by 3 percent year over year to Rs 14,841 crore for the quarter.

Hero MotoCorp: The world’s largest two-wheeler maker has recorded net profit at Rs 1,073 crore for the quarter ended December FY24, growing sharply by 51 percent over a year-ago period with strong growth in operating numbers. Revenue from operations for the quarter grew by 21 percent YoY to Rs 9,724 crore. Hero announced an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share for the financial year ended 2023–24 and has received board approval for investment of up to Rs 600 crore over a period of two years for setting up a global parts center (GPC) 2.0 with a storage capacity of up to 36,700 stockkeeping units (SKUs) in Andhra Pradesh.

Indian Railway Finance Corporation: The miniratna public sector enterprise has recorded net profit at Rs 1,604 crore for the third quarter of FY24, falling 1.8 percent compared to the year-ago period. Revenue from operations grew by 8.4 percent YoY to Rs 6,742 crore for the quarter.

PI Industries: The agri-sciences company has registered a 27.5 percent on-year growth in consolidated net profit at Rs 448.6 crore for the October–December period of FY24, with healthy growth in topline and operating numbers. Revenue from operations grew by 17.6 percent YoY to Rs 1,897.5 crore for the quarter.

Easy Trip Planners: The company said the board of directors has in principle approved the proposal to open a 5-star hotel in Ayodhya through an investment of up to Rs 100 crore in Jeewani Hospitality.

Landmark Cars: The luxury car retailer has reported consolidated net profit of Rs 18.2 crore for the October–December period of FY24, falling nearly 30 percent compared to the corresponding period of the last fiscal. Revenue from operations increased by 9.5 percent YoY to Rs 959.2 crore for the quarter.

Bandhan Bank: The private sector lender has recorded a massive 152 percent on-year growth in net profit at Rs 733 crore for the third quarter of FY24 on a sharp fall in provisions and contingencies. Net interest income grew by 21 percent YoY to Rs 2,525 crore for the quarter. Asset quality improved with the gross NPA declining 30 bps sequentially to 7.02 percent and the net NPA falling 11 bps QoQ to 2.21 percent for the quarter.

Cello World: The consumerware company has reported consolidated net profit of Rs 906.6 crore for the quarter ended December FY24, rising 4.7 percent over the previous quarter. Revenue from operations increased by 7.8 percent QoQ to Rs 5,270.5 crore for the quarter.

Bajaj Healthcare: The APIs, intermediates, and formulations manufacturer has posted a net loss of Rs 2.2 crore for the third quarter of FY24, against a profit of Rs 11.05 crore in the same period last year. Revenue from operations fell by 18.1 percent YoY to Rs 108.6 crore for the quarter. Meanwhile, Rupesh Nikam has resigned as Chief Financial Officer (CFO) and Whole-Time Director of the company.

Shree Renuka Sugars: The sugar producer has posted a consolidated net loss of Rs 172.3 crore for the quarter ended December FY24, against a profit of Rs 14.3 crore in the corresponding period of the last fiscal, despite a higher topline impacted by weak operating numbers with higher input costs and finance costs. Revenue from operations grew by 18.1 percent YoY to Rs 3,014 crore for the quarter. The company has received approval from the board of directors to raise up to Rs 2,500 crore via QIP.

Multi Commodity Exchange of India: The commodity exchange has posted a net loss of Rs 5.35 crore for the quarter ended December FY24, against a profit of Rs 38.79 crore in the corresponding period of last fiscal year, despite strong topline growth. Revenue from operations grew by 33.4 percent YoY to Rs 191.5 crore for the quarter. The holding company has made an additional contribution of Rs 13.12 crore in October 2023 towards the settlement guarantee fund. Also, the software support charges and product license fees more than doubled to Rs 146.32 crore from Rs 67.60 crore YoY.

Divis Laboratories: The pharma company has reported net profit at Rs 358 crore for the third quarter of FY24, rising 17 percent over the corresponding period of last fiscal, with revenue from operations increasing 8.6 percent YoY to Rs 1,855 crore.

Aurobindo Pharma: The pharmaceutical firm has recorded consolidated net profit of Rs 936 crore for the October–December period of FY24, rising sharply by 90.6 percent over a year-ago period backed by strong operating numbers. Revenue from operations for the quarter increased by 14.7 percent YoY to Rs 7,352 crore, with growth seen across multiple businesses. US formulations (excluding Puerto Rico) revenue increased by 28.9 percent YoY to Rs 3,756 crore, and European formulation revenue rose by 1.6 percent YoY to Rs 1,728 crore.

Italian Edibles: The company will list its equity shares on the NSE Emerge on February 12. The issue price is Rs. 68 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Rane Engine Valve: The Rane group announced the merger of Rane Brake Lining and Rane Engine Valve into Rane (Madras). The board of directors of these companies approved the proposed reorganization through a scheme of arrangement. As per the scheme, 21 equity shares of Rane (Madras) will be allotted for 20 equity shares of Rane Brake Lining, and 9 equity shares of Rane (Madras) will be allotted for 20 equity shares of Rane Engine Valve.

Apeejay Surrendra Park Hotels: The Park Hotels is set to list its equity shares on the bourses on February 12. The final issue price has been fixed at Rs. 155 per share.

Mishra Dhatu Nigam: The state-owned specialized metals and metal alloys manufacturing company has registered a 67 percent on-year decline in consolidated profit at Rs 12.8 crore for the quarter ended December FY24, impacted by weak operating numbers and a sharp rise in input costs. Revenue from operations grew by 8.8 percent YoY to Rs 252 crore for the quarter.

Advanced Enzyme Technologies: The specialty biotech company has recorded consolidated net profit at Rs 42.5 crore for the third quarter of FY24, growing 52 percent over a year-ago period, backed by strong operating numbers. Revenue from operations grew by 13 percent YoY to Rs 160.9 crore for the quarter.

Campus Activewear: The sports and leisure footwear company has reported net profit of Rs 24.9 crore for the third quarter of FY24, falling sharply by 48.5 percent compared to the year-ago period, with a muted topline and weak operating numbers. Revenue from operations increased 1.4 percent YoY to Rs 472 crore due to a change in channel dynamics.

IFCI: The company has posted a net loss of Rs 10.06 crore for the third quarter of FY24, against a profit of Rs 67.4 crore in the same period last year. Revenue from operations increased by 39.3 percent YoY to Rs 214.7 crore for the quarter.