Market Commentary     21-May-24
Stock Alert
Stock Alert: ONGC, Oil India, TCS, Lupin

Results in spotlight: BHEL, NMDC, Eris Lifesciences, Metropolis Healthcare, JK Tyre, PI Industries, Hitachi Energy, GE T&D, Ircon, Maharashtra Seamless, Aether Industries, Sheela Foam, Galaxy Surfactants, Rategain, Laxmi Organic, Arvind Fashions, Gulf Oil Lubricants, VA Tech Wabag, Greenply, Dollar Industries, Fiem Industries, etc.

Stocks under F&O ban: Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Birlasoft, GMR Airports Infrastructure, Granules India, Hindustan Copper, Vodafone Idea, India Cements, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises.

On a consolidated basis, net profit of ONGC rose 125.00% to Rs 10107.36 crore in the quarter ended March 2024 as against Rs 4492.25 crore during the previous quarter ended March 2023. Sales rose 1.65% to Rs 166770.63 crore in the quarter ended March 2024 as against Rs 164066.72 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Oil India rose 22.83% to Rs 2140.72 crore in the quarter ended March 2024 as against Rs 1742.83 crore during the previous quarter ended March 2023. Sales rose 16.50% to Rs 9147.01 crore in the quarter ended March 2024 as against Rs 7851.78 crore during the previous quarter ended March 2023.

Oil India's board recommended issue of bonus shares in the ratio of 1:2 i.e. one equity share of Rs 10 each for every two existing equity shares of Rs 10, each fully paid up. Additionally, the board recommended a final dividend of Rs 3.75 per equity share (pre-bonus).

TCS said that N Ganapathy Subramaniam ceases to be COO and ED with effect from 20 May 2024.

Jupiter Wagons board approved issuance of convertible warrants worth up to Rs 135 crore.

Solara Active Pharma said US FDA inspection at Vishakhapatnam facility closed with zero observations.

Lupin said US FDA concluded pre-approval inspection at New Jersey manufacturing facility. The FDA closed inspection at New Jersey facility with issuance of Form-483 and six observations.

RVNL received order worth Rs 148 crore from South Eastern Railway for electric traction system

IRFC board approved 2024-25 borrowing of up to Rs 50,000 crore via bonds from domestic and international markets.

IFGL Refractories re-appointed James Leacock Mcintosh as managing director for three years from Sept. 1

Patel Engineering acquired 10% stake in Shail Tunnelling & Infra for Rs 51,000.

Marine Electricals received order worth Rs 29 crore from McGeoch Technology for supply of switchboards.

Previous News
  Lupin Ltd slips for fifth straight session
 ( Hot Pursuit - 18-Jun-24   13:35 )
  Lupin appoints Abdelaziz Toumi as CEO of API CDMO arm
 ( Hot Pursuit - 17-Jun-24   12:28 )
  Lupin appoints Abdelaziz Toumi as CEO of Lupin Manufacturing Solutions
 ( Corporate News - 17-Jun-24   12:05 )
  Oil India commences ESG initiatives to achieve net zero emission by 2040
 ( Corporate News - 15-Jun-24   13:52 )
  Lupin Nagpur unit clears USFDA inspection
 ( Hot Pursuit - 14-Jun-24   11:24 )
  Lupin's Nagpur facility successfully clears USFDA audit
 ( Corporate News - 14-Jun-24   10:25 )
  L&T Energy wins order from ONGC Corp
 ( Corporate News - 13-Jun-24   13:11 )
  Lupin to transfer its trade generics biz in India to Lupin Life Sciences
 ( Corporate News - 08-Jun-24   14:09 )
  Oil & Natural Gas Corpn Ltd spurts 1.76%, gains for third straight session
 ( Hot Pursuit - 07-Jun-24   13:05 )
  Lupin acquires Sanofi brands - Aarane™ and Nalcrom™
 ( Corporate News - 05-Jun-24   11:45 )
  Oil & Natural Gas Corpn Ltd Surges 3.62%, BSE Oil & Gas index Gains 3%
 ( Hot Pursuit - 05-Jun-24   09:30 )
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