Top stocks that will be the subject of today’s attention are listed below:
Adani Transmission: On Wednesday, Adani Transmission reported a 32% decline in its consolidated net profit at Rs.194 crore in the September quarter compared to a year earlier. This decline was primarily caused by unfavourable adjustments for foreign exchange movement. The company provided an explanation in a statement for why the consolidated PAT (profit after tax) or net profit of 194 crore in the second quarter of FY23 was down year over year. The company’s combined net profit for the three months that ended on September 30, 2021, was Rs.289 crore.
JSW Steel: According to group chairman Sajjan Jindal, JSW Steel plans to increase its capacity from the current 27 million tonnes to 50 million tonnes by 2030. In both greenfield and brownfield developments, the expansion will take place. When PSUs like Rashtriya Ispat Nigam Ltd (RINL) and iron-ore producer NMDC Ltd’s steel factory are divested, JSW group would make a bid, according to Jindal.
Punjab National Bank: According to MD & CEO Atul Kumar Goel, Punjab National Bank (PNB) is on pace to meet the goal of recovering Rs.32,000 crore from bad loans in the current fiscal year. Goel told reporters in a post-quarterly earnings call that the recovery objective for the current fiscal year is 32,000 crore, or roughly 8,000 crore each quarter. “We were able to recover 7,057 crore during the June quarter. The total recovery for the third quarter of September was 8,564 crore “Added Goel.
Dabur India: An industry leader in FMCG, Dabur stock will become ex-dividend on November 3. The corporation has set November 4th as the record date for its 250% dividend, which will be paid to shareholders. As a result, the shares will become ex-dividend the day prior to the record date. The meals and drinks business of Dabur led the growth in the second quarter of FY23. Most analysts advise purchasing Dabur shares with a target price of between 600 and 700 moving forward.
Mahindra Finance: Mahindra & Mahindra Financial Services (Mahindra Finance) said on Wednesday that its net profit for the three months ending in September 2022 fell by more than 55% to Rs. 492 crore. It had reported a net profit of Rs.1,103 crore in the same quarter that had ended in September of the previous year. According to a press statement, overall revenue climbed by 3% to Rs.3,029 crore during the reviewed quarter from Rs.2,951 crore during the same quarter last year.
Manali Petrochemicals: On Wednesday, the petrochemical producer Manali Petrochemicals Ltd. announced a standalone profit after tax (PAT) of 11.71 crore for the second quarter that ended on September 30, 2022. The company, which is a subsidiary of Singapore’s AM International, posted a standalone PAT of Rs.119.62 crore during the same period last year. Compared to the same period last year, when there were Rs.407.80 crores in standalone revenue, the current quarter’s total was Rs.267.22 crores.
Dalmia Bharat: On Wednesday, the cement manufacturer Dalmia Bharat Ltd. reported a 76.84% decrease in its consolidated net profit at 47 crore for the three months that ended in September. According to a regulatory filing by Dalmia Bharat, the company reported a net profit of Rs.203 crore during the quarter from July to September of last year. In the second quarter of the current fiscal year, it had a 15.11 percent growth in operating revenue to Rs.2,971 crore. The same was Rs.2,581 crore in the same period last year.
TCI: The Indian logistics and supply chain management company Transport Corporation of India (TCI) intends to expand to Sri Lanka while bolstering operations in the neighbouring countries of Nepal and Bangladesh. The move is a cornerstone of the company’s strategy to dominate logistics in South Asia, a region with expanding trade and the possibility for bigger commodities mobility.
Mahindra Holidays: Due to rising expenses, Mahindra Holidays & Resorts India Ltd. announced on Wednesday a 30% fall in its combined profit after taxes for the second quarter ended September 30, 2022, coming in at Rs.41.39 crore. Mahindra Holidays & Resorts India Ltd (MHRIL) reported in a regulatory filing that the business had reported a consolidated profit after tax of Rs.59.76 crore during the same period last fiscal.