Market Commentary - Stock Alert
Bajaj Finance, LTTS, HUDCO, Mazagon Dock in focus As on : 18-Oct-23  08:45

Bajaj Finance: The non-banking financial company reported 27.7% jump in consolidated net profit to Rs 3,550.80 crore on a 34.16% increase in total income to Rs 13,381.75 crore in Q2 FY24 as compared with Q2 FY23.

Meanwhile, the company has entered into a binding term sheet with Pennant Technologies, a technology product company, for acquisition of up to 26% equity stake on a fully diluted basis for an aggregate amount of approximately Rs 267.50 crore. The transaction is expected to be completed on or before 30 December 2023, subject to satisfaction of the conditions to be set out in the definitive agreements to be entered.

L&T Technology Services: The company reported 1.4% rise in consolidated net income to Rs 315.4 crore on a 3.7% increase in revenue to Rs 2386.5 crore in Q2 FY24 as compared with Q1 FY24.

HUDCO: The government has proposed to sell up to 7% stake in HUDCO through an offer for sale (OFS) on October 18-19. The floor price for the offer has been fixed at Rs 79 per share.

Mazagon Dock Shipbuilders: The company has signed a contract with Acquisition wing of Ministry of Defence for Construction and Delivery of One Training Ship for Indian Coast Guard (ICG) at a cost of Rs 310 crore.

IRCTC, Zomato: IRCTC has tied up with Zomato for supply and delivery of preordered meals through IRCTC's E-catering portal as a Proof of Concept (PoC) in the first phase at five Railway stations i.e. New Delhi, Prayagraj, Kanpur, Lucknow & Varanasi.

Lemon Tree Hotels: The company has signed a Franchise Agreement for upcoming hotel in Vadodara, Gujarat. The hotel will feature 45 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a fitness center, a lounge and other public areas and is expected to be operational in FY26.

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