Market Commentary - Stock Alert
Stock Alert: TBO Tek, Aadhar Housing, Bharti Airtel, Aurionpro Solutions As on : 15-May-24  08:42

TBO Tek shares will debut on the stock exchanges on Wednesday at an issue price of Rs 920 apiece. The Rs 1550-crore IPO was subscribed 86.7 times.

Aadhar Housing Finance shares will debut on the stock exchanges on Wednesday at an issue price of Rs 315 apiece. The Rs 3,000-crore IPO was subscribed 25.49 times.

Companies releasing earnings today (15 May 2024): Power Finance Corp, Mankind Pharma, Jindal Stainless, Dixon Technologies, Honeywell Automation, LIC Housing Finance, Redington, Jyothy Labs, NCC, Clean Sciences and Technology, Asahi India Glass, Titagarh Rail Systems, Indian Energy Exchange, Granules India, CMS Info Systems, Transport Corporation of India, Moil, Paradeep Phosphates, ICRA, Pricol, Pitti Engineering, Somany Ceramics, NLC India, Trident.

Securities currently in the F&O ban period: Balrampur Chini Mills, Birlasoft, Canara Bank, GMR Infra, Hindustan Copper, Vodafone Idea, Piramal Enterprise, Sail, Zee Entertainment Enterprise.

Bharti Airtel: The telecom major's consolidated net profit dropped 31.07% to Rs 2,071.6 crore in Q4 FY24 as against Rs 3,005.6 crore reported in Q4 FY23. Revenue from operations increased 4.41% YoY to Rs 37,599.1 crore in Q4 FY24. The growth was impacted by devaluation of African currencies during the period, particularly Nigerian Naira. Average revenue per user (ARPU) for the quarter stood at Rs 209, up 8.29% as compared to Rs 193 in Q4 FY23 driven by sustained focus on acquiring quality customers and mix improvement.

Aurionpro Solutions: The board recommended a bonus issue of shares in the ratio of 1:1 to existing shareholders.

On a consolidated basis, net profit of Aurionpro Solutions rose 53.43% to Rs 38.48 crore in the quarter ended March 2024 as against Rs 25.08 crore during the previous quarter ended March 2023. Sales rose 29.48% to Rs 246.87 crore in the quarter ended March 2024 as against Rs 190.66 crore during the previous quarter ended March 2023.

Mahindra & Mahindra: Mahindra Holdings, a subsidiary of Mahindra & Mahindra, sold its entire 30.8% stake in the New Delhi Centre for Sight for Rs 425 crore.

The New India Assurance: Vimal Kumar Jain has been appointed as the Chief Financial Officer (CFO) and Pooran Kumar Tulsiani as the Chief Information Officer (CIO) of the company.

Bigbloc Construction: The company has announced a temporary shutdown of its Umargam plant for a period of 45 to 60 days.

On a consolidated basis, net profit of Sagar Cements declined 85.36% to Rs 13.25 crore in the quarter ended March 2024 as against Rs 90.48 crore during the previous quarter ended March 2023. Sales rose 14.02% to Rs 708.71 crore in the quarter ended March 2024 as against Rs 621.54 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of PDS declined 19.09% to Rs 45.78 crore in the quarter ended March 2024 as against Rs 56.58 crore during the previous quarter ended March 2023. Sales rose 17.27% to Rs 3215.18 crore in the quarter ended March 2024 as against Rs 2741.66 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Balu Forge Industries rose 85.56% to Rs 28.28 crore in the quarter ended March 2024 as against Rs 15.24 crore during the previous quarter ended March 2023. Sales rose 30.21% to Rs 161.17 crore in the quarter ended March 2024 as against Rs 123.78 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Oberoi Realty rose 64.07% to Rs 788.03 crore in the quarter ended March 2024 as against Rs 480.29 crore during the previous quarter ended March 2023. Sales rose 36.75% to Rs 1314.77 crore in the quarter ended March 2024 as against Rs 961.43 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of KDDL rose 58.33% to Rs 25.57 crore in the quarter ended March 2024 as against Rs 16.15 crore during the previous quarter ended March 2023. Sales rose 16.16% to Rs 347.61 crore in the quarter ended March 2024 as against Rs 299.24 crore during the previous quarter ended March 2023.

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