Market Commentary - Stock Alert
HCL Tech, ICICI Prudential, Siemens, Laxmi Organic in focus As on : 21-Apr-23  08:47

HCL Technologies: The IT major reported 2.76% fall in consolidated net profit to Rs 3,983 crore on 0.35% decline in revenue from operations to Rs 26,606 crore in Q4 FY23 over Q3 FY22. Compared with Q4 last year, the company's net profit and revenue were higher by 10.85% and 17.74%, respectively.

For FY24, the company's revenue guidance is 6%-8% YoY in constant currency. Services revenue is expected to grow 6.5%-8.5% YoY in constant currency. EBIT margin is expected to be between 18%-19%.

ICICI Prudential Life Insurance Company: The company reported consolidated net profit of Rs 235.26 crore in Q4 March 2023, higher than net profit of Rs 186.88 crore in Q4 March 2022. Total income rose to Rs 11499.84 crore in Q4 March 2023 from Rs 13845.73 crore in Q4 March 2022.

Siemens, RVNL: As part of a consortium along with Rail Vikas Nigam (RVNL), received two separate orders from Gujarat Metro Rail Corporation (GMRCL). Siemens Limited's share as part of the consortium is Rs. 678 crore. The orders are for Surat Metro Phase 1 and Ahmedabad Metro Phase 2.

Sterling and Wilson Renewable Energy: The company reported consolidated net loss of Rs 421 crore in Q4 March 2023, higher than net loss of Rs 127 crore in Q4 March 2022. Total income dropped to Rs 88 crore in Q4 March 2023 from Rs 1071 crore in Q4 March 2022.

Finolex Cables: The company would set up a plant at Urse facility, Pune to produce Optical Fibre Preforms as well as expand on its Fibre draw capacity. The plant with an initial capacity of 100 tons of preforms, is being set up at a cost of Rs. 290 crore approx., and would be funded entirely out of internal accruals.

Laxmi Organic Industries: The board of directors of the company approved the proposal to raise further funds not exceeding Rs 2000 crore by way of equity and/or debt through any mode as the board may deem fit and necessary.

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