Market Commentary     18-May-24
Stock Alert
Stock Alert: Nestle India, Wipro, Dr. Reddy's Labs, Bandhan Bank

Nestle India faces resistance from its majority shareholders who rejected a proposal to increase the royalty fee paid to its Swiss parent company.

Wipro undergoes a leadership change with Sanjeev Jai taking over as the new Chief Operating Officer, replacing Amit Chaudary.

Dr. Reddy's Laboratories completes a USFDA inspection at their Visakhapatnam facilities with two observations noted in the Form 483.

Dalmia Bharat's arm commenced production at the Tamil Nadu cement plant of 1 MTPA. The company's total cement manufacturing capacity is now at 45.6 MTPA.

Centrum Capital appoints Shailendra Apte as the new chief financial officer, effective June 1st, succeeding Sriram Venkatasubramanian.

Delhivery streamlines its operations by liquidating its UK arm and establishing a new wholly owned subsidiary, Delhivery Robotics India.

Bandhan Bank's profit after tax for the quarter ended March 31, 2024, stood at Rs 55 crore. Operating Profit was Rs 1,838 crore in Q4 FY24 compared to Rs 1,796 crore in Q4 FY23. Net interest income (NII) as of Q4 FY24, stood at Rs 2,866 crore compared to Rs 2,472 crore as of Q4 FY23, representing a growth of 16%. Net Interest Margin (NIM) for the quarter was 7.6%, for the full year NIM stood at 7.3%.

Zee Entertainment Enterprises reported net profit of Rs 84.18 crore in the quarter ended March 2024 as against net loss of Rs 351.01 crore during the previous quarter ended March 2023. Sales rose 4.90% to Rs 2029.07 crore in the quarter ended March 2024 as against Rs 1934.22 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Zydus Lifesciences rose 298.62% to Rs 1182.30 crore in the quarter ended March 2024 as against Rs 296.60 crore during the previous quarter ended March 2023. Sales rose 10.59% to Rs 5366.40 crore in the quarter ended March 2024 as against Rs 4852.50 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of JSW Steel declined 64.55% to Rs 1299.00 crore in the quarter ended March 2024 as against Rs 3664.00 crore during the previous quarter ended March 2023. Sales declined 1.51% to Rs 45646.00 crore in the quarter ended March 2024 as against Rs 46346.00 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Rail Vikas Nigam rose 33.17% to Rs 478.40 crore in the quarter ended March 2024 as against Rs 359.25 crore during the previous quarter ended March 2023. Sales rose 17.38% to Rs 6714.01 crore in the quarter ended March 2024 as against Rs 5719.83 crore during the previous quarter ended March 2023.

On a consolidated basis, Shalimar Paints reported net loss of Rs 26.42 crore in the quarter ended March 2024 as against net loss of Rs 9.62 crore during the previous quarter ended March 2023. Sales rose 6.58% to Rs 144.26 crore in the quarter ended March 2024 as against Rs 135.36 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Global Health rose 26.03% to Rs 127.38 crore in the quarter ended March 2024 as against Rs 101.07 crore during the previous quarter ended March 2023. Sales rose 14.37% to Rs 808.63 crore in the quarter ended March 2024 as against Rs 707.06 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Varroc Engineering rose 43.51% to Rs 56.86 crore in the quarter ended March 2024 as against Rs 39.62 crore during the previous quarter ended March 2023. Sales rose 16.23% to Rs 1974.86 crore in the quarter ended March 2024 as against Rs 1699.12 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Balrampur Chini Mills declined 20.07% to Rs 203.39 crore in the quarter ended March 2024 as against Rs 254.45 crore during the previous quarter ended March 2023. Sales declined 3.84% to Rs 1434.26 crore in the quarter ended March 2024 as against Rs 1491.53 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Kirloskar Ferrous Industries declined 77.88% to Rs 19.51 crore in the quarter ended March 2024 as against Rs 88.22 crore during the previous quarter ended March 2023. Sales declined 1.89% to Rs 1535.92 crore in the quarter ended March 2024 as against Rs 1565.56 crore during the previous quarter ended March 2023.

Previous News
  Wipro to convene AGM
 ( Corporate News - 18-Jun-24   13:59 )
  Wipro and GBST forge strategic partnership in superannuation and wealth management space
 ( Corporate News - 18-Jun-24   09:14 )
  Hanesbrands expands partnership with Wipro
 ( Corporate News - 15-Jun-24   13:36 )
  Wipro collaborates with Hewlett Packard Enterprise
 ( Corporate News - 13-Jun-24   20:36 )
  Wipro announces strategic collaboration with Siemens
 ( Corporate News - 13-Jun-24   20:19 )
  Wipro Ltd gains for third consecutive session
 ( Hot Pursuit - 13-Jun-24   13:05 )
  Market records all-time high in early trade; breadth strong
 ( Market Commentary - Mid-Session 13-Jun-24   09:33 )
  Nestle India reschedules AGM date
 ( Corporate News - 13-Jun-24   09:31 )
  Sensex soars 1,619 pts, hits record high; Nifty settles at 23,290
 ( Market Commentary - Quick Review 07-Jun-24   15:52 )
  Market continues to trade higher; Wipro rallies over 4%; European mrkt decline
 ( Market Commentary - Mid-Session 07-Jun-24   13:36 )
  Wipro Ltd soars 4.7%, rises for third straight session
 ( Hot Pursuit - 07-Jun-24   13:05 )
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