Market Commentary     16-May-24
Stock Alert
Stock Alert: Infosys, IEX, Redington, Quick Heal Tech, Star Cement
Earnings today: Mahindra and Mahindra, Gail India, Info Edge India, Vodafone Idea, Biocon, Motherson Sumi Wiring India, Endurance Technologies, Ratnamani Metals and Tubes, Crompton Greaves Consumer, Triveni Turbine, Kaynes Technology, Krishna Institute of Medical, V-Guard Industries, Eclerx Services, Prism Johnson, Prince Pipes and Fittings, etc.

Securities in F&O ban: Balrampur Chini Mills, Birlasoft, Canara Bank, GMR Infra, Hindustan Copper, Vodafone Idea, Piramal Enterprise, Sail, and Zee Entertainment Enterprise.

On a consolidated basis, net profit of Indian Energy Exchange (IEX) rose 9.45% to Rs 96.69 crore in the quarter ended March 2024 as against Rs 88.34 crore during the previous quarter ended March 2023. Sales rose 13.31% to Rs 121.28 crore in the quarter ended March 2024 as against Rs 107.03 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Redington rose 5.00% to Rs 325.59 crore in the quarter ended March 2024 as against Rs 310.10 crore during the previous quarter ended March 2023. Sales rose 2.68% to Rs 22433.41 crore in the quarter ended March 2024 as against Rs 21848.59 crore during the previous quarter ended March 2023.

On a consolidated basis, A2Z Infra Engineering reported net loss of Rs 1.21 crore in the quarter ended March 2024 as against net loss of Rs 63.57 crore during the previous quarter ended March 2023. Net sales rose 8% to Rs 97.97 crore in the quarter ended March 2024 as against Rs 90.71 crore during the previous quarter ended March 2023.

On a consolidated basis, Sequent Scientific reported net loss of Rs 0.91 crore in the quarter ended March 2024 as against net loss of Rs 93.58 crore during the previous quarter ended March 2023. Sales declined 1.49% to Rs 361.20 crore in the quarter ended March 2024 as against Rs 366.67 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of CMS Info Systems rose 14.38% to Rs 91.42 crore in the quarter ended March 2024 as against Rs 79.93 crore during the previous quarter ended March 2023. Sales rose 25.06% to Rs 627.08 crore in the quarter ended March 2024 as against Rs 501.44 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Pitti Engineering rose 62.51% to Rs 40.35 crore in the quarter ended March 2024 as against Rs 24.83 crore during the previous quarter ended March 2023. Sales rose 32.48% to Rs 327.88 crore in the quarter ended March 2024 as against Rs 247.50 crore during the previous quarter ended March 2023.

Net profit of MOIL rose 12.60% to Rs 91.15 crore in the quarter ended March 2024 as against Rs 80.95 crore during the previous quarter ended March 2023. Sales declined 2.85% to Rs 415.88 crore in the quarter ended March 2024 as against Rs 428.06 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Titagarh Rail Systems rose 63.66% to Rs 78.95 crore in the quarter ended March 2024 as against Rs 48.24 crore during the previous quarter ended March 2023. Sales rose 8.03% to Rs 1052.41 crore in the quarter ended March 2024 as against Rs 974.22 crore during the previous quarter ended March 2023.

Infosys partnered with SAP Emarsys to improve customer experience for their clients.

Quick Heal Technologies expanded its cybersecurity reach in Europe through a partnership with EET Group.

Star Cement received approval from NCLT to merge three units with its Star Cement Meghalaya arm.

JK Cement re-appointed Raghavpat Singhania as Managing Director for a five-year term starting June 17, 2025.

PSP Projects settled a dispute with Surat Diamond Bourse, agreeing to a phased payment of Rs 170 crore to complete the Rs 1,960 crore project.

Medi Assist Healthcare Services announced Sandeep Daga as their new CFO, effective May 17.

Mankind Pharma clarified that media reports regarding their potential acquisition of a stake in Bharat Serum are purely speculative.

TVS Motor Company launched its operations in Italy.

Eicher Motors' subsidiary, VE Commercial Vehicles, signed a joint venture agreement with Triangle Infotech.

Previous News
  Infosys ranks among Top 100 most valuable brands in the world
 ( Corporate News - 12-Jun-24   14:52 )
  Nifty June futures trade at premium
 ( Market Commentary - Futures Market 07-Jun-24   16:16 )
  Market continues to trade higher; Wipro rallies over 4%; European mrkt decline
 ( Market Commentary - Mid-Session 07-Jun-24   13:36 )
  Infosys Ltd spurts 4.13%
 ( Hot Pursuit - 07-Jun-24   13:05 )
  Titagarh Rail Systems inaugurates new engineering centre in Bangalore
 ( Corporate News - 05-Jun-24   19:05 )
  Infosys collaborates with Nihon Chouzai to enhance online medication services in Japan
 ( Corporate News - 04-Jun-24   13:01 )
  Infosys Ltd Slides 1.03%
 ( Hot Pursuit - 31-May-24   09:30 )
  Star Cement
 ( Results - Analysis 23-May-24   06:29 )
  HEG Ltd leads losers in 'A' group
 ( Hot Pursuit - 23-May-24   15:00 )
  Star Cement
 ( Analyst Meet / AGM - Conference Call 22-May-24   20:38 )
  Star Cement consolidated net profit declines 8.79% in the March 2024 quarter
 ( Results - Announcements 22-May-24   17:51 )
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