Market Commentary - Stock Alert
ITC, HUL, Tata Motors, Zomato in focus As on : 20-Oct-23  09:04

ITC: ITC reported 10.3% increase in consolidated net profit to Rs 4927 crore on 2.4% increase in net revenue to Rs 16357 crore in Q2 FY24 over Q2 FY23.

Hindustan Unilever (HUL): HUL reported 3.86% increase in consolidated net profit to Rs 2,717 crore on 3.53% increase in revenue from operations to Rs 15,027 crore in Q2 FY24 over Q2 FY23. Hindustan Unilever (HUL) delivered Underlying Volume Growth (UVG) of 2% in Q2 FY24.

Zomato: Softbank is reportedly planning to sell around 1.1% stake in Zomato and mop up around Rs 1,000 crore via the block deal route.

Tata Motors: Tata Motors and Freight Commerce Solutions Private Limited ('Freight Tiger') have signed a Securities Subscription Agreement (SSA) and a Shareholders Agreement (SHA) for the acquisition of 26.79% stake in 'Freight Tiger' for a consideration of Rs 150 crore. The SSA also includes a provision enabling Tata Motors to further invest Rs 100 crore over the next two years, at the then prevailing market value.

Natco Pharma: Natco Pharma announced the completion of an inspection by the United States Food and Drug Administration (USFDA) for its Pharma Division located in Kothur Hyderabad, which was conducted from 9th October 2023 to 18th October 2023. At the end of the inspection, the facility received eight observations.

Elecon Engineering Company: The company has received an order of Rs. 51.41 crore (excluding GST) from Arcelormittal Nippon Steel India for supply and supervision of Pipe Conveyor System.

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