Market Commentary     31-May-24
Stock Alert
Stock alert: Bharat Dynamics, Apollo Hospitals, Sunteck Realty, Subex, Hero MotoCorp
Net profit of Bharat Dynamics rose 89.04% to Rs 288.78 crore in the quarter ended March 2024 as against Rs 152.76 crore during the previous quarter ended March 2023. Sales rose 6.50% to Rs 848.57 crore in the quarter ended March 2024 as against Rs 796.79 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Apollo Hospitals Enterprise rose 75.64% to Rs 253.80 crore in the quarter ended March 2024 as against Rs 144.50 crore during the previous quarter ended March 2023. Sales rose 14.92% to Rs 4943.90 crore in the quarter ended March 2024 as against Rs 4302.20 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Welspun Corp rose 13.53% to Rs 267.84 crore in the quarter ended March 2024 as against Rs 235.93 crore during the previous quarter ended March 2023. Sales rose 9.61% to Rs 4461.17 crore in the quarter ended March 2024 as against Rs 4070.15 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Swan Energy rose 378.24% to Rs 26.59 crore in the quarter ended March 2024 as against Rs 5.56 crore during the previous quarter ended March 2023. Sales rose 49.80% to Rs 1397.91 crore in the quarter ended March 2024 as against Rs 933.19 crore during the previous quarter ended March 2023.

Sunteck Realty approved raising up to Rs 2,250 crore through private placement and the issue of equity shares, post the approval of shareholders. The company is to raise Rs 1,500 crore through private placements in one or more tranches and Rs 750 crore by way of equity shares or other securities convertible into equity.

Subex's arm won a contract worth 1 .1 million from a telecom operator in Europe for fraud management on the HyperSense AI/ML platform.

Jio Financial Services unveils the JioFinance App in a beta version, marking a significant step forward in its digital transformation journey to enhance the financial well-being of every Indian.

Hero MotoCorp launched the Splendor+ model at Rs 82,911 ex-showroom price in Delhi.

Tube Investments of India arm acquired a 23.69% stake in IPLTech Electric for Rs 185 crore. The company’s stake now stands at 89.46%, up from 65.77% earlier.

Krishna Institute of Medical Sciences, through its subsidiary KIMS Hospital Bengaluru, has entered into a lease agreement for setting up a super specialty hospital in Bengaluru, Karnataka, with the Peoples Education Society.

Kewal Kiran Clothing acquired a 50% stake in Kraus Casuals for Rs 166.51 crore.

ICICI Prudential Life Insurance Company: IRDAI approved the appointment of Sandeep Batra as Chairman effective June 30.

Sun Pharmaceutical Industries will acquire a 14.3% stake in the Indian Foundation for Quality Management for Rs 12.5 crore.

Aarti Industries' board appointed Suyog Kalyanji Kotecha as CEO effective June 17. CEO Rajendra V. Gogri will continue to be chairman and MD of the company.

Orient Electric's board appointed Ravindra Singh Negi as MD for 5 years, effective May 31, and designated her as MD and CEO.

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