Market Commentary - Stock Alert
Nalco, Biocon, Glenmark Pharma, BEML in focus As on : 13-Feb-23  08:50

Kotak Mahindra Bank: Kotak Mahindra Bank said that it has entered into share purchase agreements for acquiring 2,64,53,256 equity shares, representing 100% stake, with the current shareholders of Sonata Finance for a total consideration of approximately Rs. 537 crore.

Biocon: The U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for Bevacizumab filed by partner Viatris (Mylan).

National Aluminium Company (Nalco): Nalco reported 67% drop in standalone net profit to Rs 273.85 crore in Q3 FY23 from Rs 830.86 crore in Q3 FY22. Revenue from operations fell by 13% YoY to Rs 3,289.98 crore during the quarter.

Glenmark Pharmaceuticals: Glenmark Pharmaceuticals' consolidated net profit rose 21.13% to Rs 290.76 crore on 8% increase in net sales to Rs 3,392.24 crore in Q3 FY23 over Q3 FY22.

BEML: BEML has received an order for supply of 118 Nos of TRACK WIDTH MINE PLOUGH (TWMP) for Arjun MBT MK-1A from HVF, Avadi. The consolidated value of the order is Rs. 377.98 crore approximately, the supplies are expected to be completed by January 2026.

Thermax: The energy and environment solutions provider has received an order for Rs 251.7 crore from an Indian public sector power company. The contract is for the renovation and modernisation of the electrostatic precipitator (ESP) package of its 3x210 MW thermal power station in Bankura, West Bengal.

ABB India: ABB India's net profit (from continuing operations) jumped 58.03% to Rs 305.91 crore on 15.48% rise in total revenue from operations to Rs 2,426.91 crore in Q4 CY2022 over Q4 CY2021.

Dilip Buildcon: The civil construction company reported a standalone net profit of Rs 79.52 crore in Q3 FY23 as against a net loss of Rs 96.66 crore posted in Q3 FY22. Revenue from operations rose 8.2% year on year to Rs 2,378.78 crore in the quarter ended 31 December 2022.

Balkrishna Industries: The tyre maker's standalone net profit tumbled 69.7% to Rs 99.62 crore in Q3 FY23 as against Rs 328.58 crore posted in Q3 FY22. Revenue from operations rose 5.5% YoY to Rs 2142.32 crore in the quarter ended 31 December 2022.

Info Edge (India): Info Edge (India) reported a standalone net loss of Rs 84.26 crore in Q3 FY23 from a net profit of Rs 336.37 crore recorded in Q3 FY22. Revenue from operations jumped 33.4% to Rs 555.18 crore in the quarter ended 31 December 2022 as against Rs 416.08 crore posted in Q3 FY22.

PB Fintech: PB Fintech reported a consolidated net loss of Rs 87.62 crore in Q3 FY23 from a net loss of Rs 298.02 crore in Q3 FY22. Revenue from operations surged 66.1% year on year to Rs 610.09 crore in the quarter ended 31 December 2022

Ashoka Buildcon: Ashoka Buildcon reported net profit of Rs 66.72 crore in Q3 FY23 as against net loss of Rs 693.55 crore posted in Q3 FY22. Revenue from operations jumped 41.3% year on year (YoY) to Rs 1,559.51 crore in the quarter ended 31 December 2022.

Indigo Paints: Indigo Paints reported 8.06% rise in net profit to Rs 26.26 crore on a 5.95% increase in net revenue from operations to Rs 281.27 crore in Q3 FY23 over Q3 FY22.

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