Market Commentary - Stock Alert
Bharti Airtel, Eicher Motors, Maruti Suzuki in focus As on : 04-Aug-23  08:26

Bharti Airtel: The telecom major's consolidated net profit rose marginally to Rs 1,612.5 crore in Q1 FY24 as against Rs 1,606.9 crore reported in Q1 FY23. Revenue from operations grew by 14.13% to Rs 37,440 crore in the quarter ended 30 June 2023. The rise in revenue was backed by strong and consistent performance delivery across the portfolio.

Eicher Motors: The auto major's consolidated net profit jumped to Rs 918.34 crore in Q1 FY24 as against Rs 610.66 crore reported in Q1 FY23. Total income rose to Rs 4,229.58 crore in the quarter ended 30 June 2023 from Rs 3,446.12 crore clocked in the quarter ended 30 June 2022.

Maruti Suzuki India: A meeting of the board of directors of the company is scheduled on 08 August 2023 to consider and approve the mode of discharging consideration for the acquisition of 100% equity stake of Suzuki Motor Corporation (SMC) in Suzuki Motor Gujarat Private Limited (SMG) by way of either cash or preferential issuance of equity shares of Maruti Suzuki India Limited (MSIL) to SMC, as may be decided by the Board.

Torrent Power: Torrent Power has, through its subsidiary Torrent Urja 8 Private Limited, entered into Power Transfer Agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL) for supply of 132 MW Solar Power for its Desalination Plants in the state of Gujarat. The estimated project cost of the 132 MW project is Rs 700 crore.

Sterling and Wilson Renewable Energy (SWRE): SWRE announced that it has won orders worth Rs 826 crore in the first four months of FY 2023-24. The orders aggregate to around 1 GWp.

KEC International: The company has secured new orders of Rs. 1,065 crore across its various businesses.

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