Market Commentary - Stock Alert
RIL, Tata Motors, M&M, DMart in action As on : 16-Oct-23  08:39

Reliance Industries (RIL): RIL's subsidiary - Reliance Retail Ventures received the subscription amount of Rs 4,966.80 crore from Platinum Owl C 2018 RSC Limited (acting in its capacity as the trustee of 'Platinum Jasmine A 2018 Trust') (ADIA) and allotted 4,11,81,006 equity shares to ADIA.

Tata Motors: Tata Motors entered into share purchase agreements with certain investors for sale of 9.9% stake in Tata Technologies (TTL), a subsidiary of the company for an aggregate consideration of Rs 1,613.7 crore.

Mahindra & Mahindra (M&M): Mahindra & Mahindra's total production increased 21.88% to 79,410 units in the month of September 2023 as against 65,154 units as compared with September 2022. The auto major's total sales was 23,997 units in September 2023, up by 18.14% from 21,666 units sold in the same period a year ago.

Avenue Supermarts (DMart): The company reported 9.07% decline in consolidated net profit to Rs 623.56 crore in Q2 FY24 as against Rs 685.77 crore posted in Q2 FY23. Revenue from operations jumped 18.67% year on year to Rs 12,624.37 crore in the quarter ended 30 September 2023.

Mankind Pharma: Mankind Pharma announced that the company's facility located at Daring Block, Berimok, Namchi Zilla, South Sikkim has resumed its operations as usual with effect from 13 October 2023.

Den Networks: The cable TV distributor reported 5.2% decrease in consolidated net profit to Rs 45.61 crore on 3.7% fall in net sales to Rs 276.61 crore in Q2 FY24 over Q2 FY23.

Tata Steel Long Products: The company's consolidated net loss narrowed to Rs 438.11 crore in Q2 FY24 as compared to a net loss of Rs 646.22 crore recorded in Q2 FY23. Net sales jumped 57.7% year on year to Rs 2,947.60 crore in the quarter ended 30 September 2023.

NBCC (India): The civil construction company on Friday announced that it has received a work order from Visakhapatnam Port Authority aggregating to Rs 80 crore.

GTPL Hathway: The internet service provider reported 23.7% fall in consolidated net profit to Rs 34.22 crore in Q2 FY24 from Rs 44.86 crore posted in Q2 FY23. Revenue from operations stood at Rs 779.20 crore in Q2 FY24, registering a growth of 19% on YoY basis.

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