Market Commentary - Stock Alert
Stock Alert: Patel Engineering, M&M, Dr Reddy's Laboratories, PB Fintech As on : 08-May-24  08:33

The National Stock Exchange (NSE) has added Punjab National Bank (PNB) and Zee Entertainment Enterprises to its F&O ban list for today, 8 May 2024. Previously banned stocks Aditya Birla Fashion & Retail, Balrampur Chini Mills, Biocon, GMR Airports Infrastructure, Vodafone Idea, and SAIL remain on the list. Companies are added to the F&O ban list when derivative contracts for their stock reach or exceed 95% of the market-wide position limit.

Patel Engineering: The company, along with its joint venture partner, secured the lowest bid for an irrigation project valued at Rs 343 crore. Patel Engineering's share of the project is Rs 120 crore.

Mahindra and Mahindra: The National Company Law Tribunal (NCLT) approved the merger of Mahindra Heavy Engines, Mahindra Two Wheelers, and Trringo.com with Mahindra and Mahindra.

Tata Elxsi: Tata Elxsi partnered with Arm to facilitate the software-defined vehicle journey for Original Equipment Manufacturers (OEMs).

LTI Mindtree: LTI Mindtree and IBM are establishing a joint artificial intelligence (AI) center of excellence focused on generative AI in India.

Dixon Technologies: Dixon Electro Appliances, a subsidiary of Dixon Technologies, signed a pact with Nokia for the development and manufacturing of telecom products.

On a consolidated basis, net profit of Dr Reddy's Laboratories rose 36.42% to Rs 1309.80 crore in the quarter ended March 2024 as against Rs 960.10 crore during the previous quarter ended March 2023. Sales rose 12.49% to Rs 7083.00 crore in the quarter ended March 2024 as against Rs 6296.80 crore during the previous quarter ended March 2023.

On a consolidated basis, PB Fintech reported net profit of Rs 60.59 crore in the quarter ended March 2024 as against net loss of Rs 8.95 crore during the previous quarter ended March 2023. Sales rose 25.37% to Rs 1089.57 crore in the quarter ended March 2024 as against Rs 869.10 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of JSW Energy rose 29.15% to Rs 351.34 crore in the quarter ended March 2024 as against Rs 272.05 crore during the previous quarter ended March 2023. Sales rose 3.22% to Rs 2755.87 crore in the quarter ended March 2024 as against Rs 2669.97 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Pidilite Industries rose 6.21% to Rs 300.60 crore in the quarter ended March 2024 as against Rs 283.03 crore during the previous quarter ended March 2023. Sales rose 7.91% to Rs 2901.85 crore in the quarter ended March 2024 as against Rs 2689.25 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Protean eGov Technologies declined 38.98% to Rs 19.29 crore in the quarter ended March 2024 as against Rs 31.61 crore during the previous quarter ended March 2023. Sales declined 4.27% to Rs 222.08 crore in the quarter ended March 2024 as against Rs 231.98 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of United Breweries rose 727.73% to Rs 81.20 crore in the quarter ended March 2024 as against Rs 9.81 crore during the previous quarter ended March 2023. Sales rose 20.81% to Rs 2133.38 crore in the quarter ended March 2024 as against Rs 1765.88 crore during the previous quarter ended March 2023.

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