Market Commentary - Stock Alert
Axis Bank, Tech Mahindra, Indus Towers, IRM Energy in action As on : 26-Oct-23  08:47

Axis Bank: The private lender's net profit rose 10.02% to Rs 5,863.56 crore on 31.4% jump in total income to Rs 31,660.26 crore in Q2 FY24 over Q2 FY23. Net interest income (NII) grew 19% YoY to Rs 12,315 crore as against Rs 10,360 crore posted in Q2 FY23 . Net interest margin (NIM) for Q2 FY24 stood at 4.11%, up 15 basis points (bps) YoY.

Tech Mahindra: The IT major's consolidated net profit slipped 28.68% to Rs 493.9 crore in Q2 FY24 as against Rs 692.5 crore posted in Q1 FY24. Revenue from operations declined 2.24% quarter on quarter (QoQ) to Rs 12,863.9 crore in the quarter ended 30 September 2023.

Indus Towers: The company reported 49% rise in consolidated net profit to Rs 1295 crore 10% fall in revenue to Rs 7133 crore in Q2 FY24 over in Q2 FY23.

IRM Energy: Shares of the company will debut on the bourses today, 26 October 2023. The issue price is Rs 505 per share.

Jubilant FoodWorks: The company reported 26.1% fall in consolidated net profit to Rs 97.2 crore 4.9% rise in total income to Rs 1375.7 crore in Q2 FY24 over in Q2 FY23.

Karnataka Bank, Vakrangee: Karnataka Bank has partnered with Vakrangee to expand its Business Correspondent (BC) Banking services across India. With Vakrangee's extensive network of over 14,000 Banking BC points and more than 6,300 ATMs, Karnataka Bank aims to provide banking services to underserved areas and bridge the gap in financial inclusion.

Apollo Micro Systems: The company has entered into term loan agreement with Bajaj Finance to avail credit facilities in the form of Term Loan (TL) upto Rs. 15 crore to incur capex for research and development.

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