Several major stocks are in focus for today, October 11, 2024, with notable developments and financial results shaping the market:
TCS: India’s largest IT services company, Tata Consultancy Services, reported a 4.99% increase in net profit for the September quarter at ₹11,909 crore. This was slightly lower than market expectations. The company’s revenue rose by 7.06% to ₹64,988 crore. Despite solid earnings, profit margins were narrower compared to previous quarters.
Bandhan Bank: The Reserve Bank of India (RBI) has approved the appointment of Partha Pratim Sengupta as the new Managing Director and Chief Executive Officer (MD & CEO) of Bandhan Bank. Sengupta, a veteran public sector banker, will take over the role for a three-year term.
Oberoi Realty: The board of Oberoi Realty has approved a plan to raise up to ₹6,000 crore through the issuance of equity shares or other financial instruments. The fundraising will take place through one or more tranches, including qualified institutional placements (QIP).
Krsnaa Diagnostics: Krsnaa Diagnostics has secured agreements with the Ranchi Institute of Neuro-Psychiatry and Allied Services (RINPAS) and Sadar Hospital in Ranchi. These deals involve the installation and operation of radiology and pathology centers on a public-private partnership model.
Mazagon Dock Shipbuilders: Mazagon Dock Shipbuilders has received a ₹121.68 crore purchase order from the Maharashtra State Power Generation Company for an AI-based infrasecure project. The project will be implemented at two locations.
Den Networks: The cable service provider posted a 14% year-on-year increase in net profit at ₹52 crore for the September quarter, despite a 10% decline in revenue from operations to ₹249 crore.
Anand Rathi Wealth: Anand Rathi Wealth posted strong financial results, with a 32.4% rise in net profit to ₹76.1 crore. Revenue from operations also grew 32.8% year-on-year to ₹242.5 crore.
IREDA: The state-run company reported a 36% year-on-year increase in net profit to ₹387 crore for the September quarter. Net Interest Income (NII) surged by 51.9% to ₹547 crore. Gross NPA stood steady at 2.19%, while Net NPA rose slightly to 1.04%.
These developments place these stocks in the spotlight, making them important to track for the day.
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