⚡️Stocks in the news
☄️HDFC Bank: India's largest private sector lender has recorded a standalone profit at Rs 15,976 crore for the quarter ended September FY24, up 50.6 percent over the year-ago period, beating analysts' estimates. Net interest income grew by 30.3 percent at Rs 27,385 crore, with a core net interest margin of 3.65 percent and a reported net interest margin of 3.4 percent for the quarter. Numbers are not comparable on YoY as well as QoQ due to the merger. Gross advances and total deposits increased by around Rs 1.1 lakh crore YoY to Rs 23.54 lakh crore and Rs 21.72 lakh crore respectively.
☄️ICICI Securities: The company reported healthy numbers for the quarter ended September FY24, with profit growing 41 percent on-year to Rs 423.6 crore and revenue increasing 45.5 percent to Rs 1,249 crore compared to the year-ago period. On the operating front, EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 54.8 percent YoY to Rs 810 crore with margin expanding 390 bps to 64.9 percent for the quarter. The firm has approved an interim dividend of Rs 12 per share.
☄️Jio Financial Services: The financial services company has registered healthy growth for the quarter ended September FY24, with profit rising 101.3 percent quarter-on-quarter to Rs 668.18 crore and revenue from operations growing 46.8 percent QoQ to Rs 608.04 crore. Meanwhile, the board has appointed AR Ganesh as Group Chief Technology Officer of the company with effect from October 16.
☄️CEAT: The tyre company recorded consolidated profit at Rs 208 crore for the quarter ended September FY24, increasing significantly compared to Rs 7.8 crore in the same period last year, supported by healthy operating numbers with a fall in input cost. In Q2FY23, profit was also impacted by an exceptional loss of Rs 23.7 crore. Revenue from operations grew by 5.5 percent YoY to Rs 3,053.3 crore for the quarter.
☄️Cyient DLM: The electronic manufacturing services and solutions company has reported a massive 106.4 percent on-year growth in profit at Rs 14.6 crore for the quarter ended September FY24, driven by other income and topline. Revenue from operations surged 71.5 percent YoY to Rs 291.8 crore for the quarter.
☄️KEC International: The RPG Group company has secured new orders worth Rs 1,315 crore across its various businesses including transmission & distribution projects in India, the Middle East, Australia and the Americas.
☄️Tata Power: Subsidiary Tata Power Renewable Energy has signed a power delivery agreement (PDA) with auto component manufacturer Endurance Technologies through a special purpose vehicle (SPV) TP Green Nature, for the development of 12.5MW AC captive solar plant. The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year
☄️HDFC Bank: India's largest private sector lender has recorded a standalone profit at Rs 15,976 crore for the quarter ended September FY24, up 50.6 percent over the year-ago period, beating analysts' estimates. Net interest income grew by 30.3 percent at Rs 27,385 crore, with a core net interest margin of 3.65 percent and a reported net interest margin of 3.4 percent for the quarter. Numbers are not comparable on YoY as well as QoQ due to the merger. Gross advances and total deposits increased by around Rs 1.1 lakh crore YoY to Rs 23.54 lakh crore and Rs 21.72 lakh crore respectively.
☄️ICICI Securities: The company reported healthy numbers for the quarter ended September FY24, with profit growing 41 percent on-year to Rs 423.6 crore and revenue increasing 45.5 percent to Rs 1,249 crore compared to the year-ago period. On the operating front, EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 54.8 percent YoY to Rs 810 crore with margin expanding 390 bps to 64.9 percent for the quarter. The firm has approved an interim dividend of Rs 12 per share.
☄️Jio Financial Services: The financial services company has registered healthy growth for the quarter ended September FY24, with profit rising 101.3 percent quarter-on-quarter to Rs 668.18 crore and revenue from operations growing 46.8 percent QoQ to Rs 608.04 crore. Meanwhile, the board has appointed AR Ganesh as Group Chief Technology Officer of the company with effect from October 16.
☄️CEAT: The tyre company recorded consolidated profit at Rs 208 crore for the quarter ended September FY24, increasing significantly compared to Rs 7.8 crore in the same period last year, supported by healthy operating numbers with a fall in input cost. In Q2FY23, profit was also impacted by an exceptional loss of Rs 23.7 crore. Revenue from operations grew by 5.5 percent YoY to Rs 3,053.3 crore for the quarter.
☄️Cyient DLM: The electronic manufacturing services and solutions company has reported a massive 106.4 percent on-year growth in profit at Rs 14.6 crore for the quarter ended September FY24, driven by other income and topline. Revenue from operations surged 71.5 percent YoY to Rs 291.8 crore for the quarter.
☄️KEC International: The RPG Group company has secured new orders worth Rs 1,315 crore across its various businesses including transmission & distribution projects in India, the Middle East, Australia and the Americas.
☄️Tata Power: Subsidiary Tata Power Renewable Energy has signed a power delivery agreement (PDA) with auto component manufacturer Endurance Technologies through a special purpose vehicle (SPV) TP Green Nature, for the development of 12.5MW AC captive solar plant. The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year
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