Market Commentary - Stock Alert
Infosys, Colgate, Shriram Finance, Astral in spotlight As on : 27-Oct-23  08:59

Reliance Industries, Maruti Suzuki India, Bajaj Finserv, SBI Life Insurance Company, Cipla, Dr Reddy's Laboratories, Bajaj Holdings & Investments, SBI Cards and Payment Services, Bharat Petroleum Corporation, Oberoi Realty are among the companies which will announce their earnings for the quarter ended on September 2023 today, 27 October 2023.

Infosys: The IT major said that penalty of $300 has been imposed on Infosys' US branch for non-remittance of past-due. There is no material impact on financials, operations or other activities of the company.

Colgate-Palmolive (India): The company reported 22.3% rise in net profit to Rs 340 crore on 6.1% rise in net sales to Rs 1462.4 crore in Q2 FY24 over Q2 FY23.

Shriram Finance: The company reported 12.59% rise in standalone net profit to Rs 1750.84 crore on 15.45% jump in total income to Rs 8,564.45 crore in Q2 FY24 over Q2 FY23.

Dixon Technologies (India): The company's consolidated net profit rose 47% to Rs 113 crore on 28% decline in net sales to Rs 4,943 crore in Q2 September 2023 over Q2 September 2022.

Karnataka Bank: The bank said the board has approved the allotment of Rs 800 crore worth of shares to various investors on a preferential basis. The bank approved allotment of 3,34,00,132 equity shares to HDFC Life Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited, Quant Mutual Fund, Bharti AXA Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited (Allottees) at a price of Rs 239.52 per equity share.

Kamat Hotels (India): The company has successfully concluded the sale of the unit i.e Hotel IRA by Orchid, Mumbai (formerly known as VITS Hotel, Mumbai), to Lateral Hospitality Private Limited on 26 October 2023 for lump sum consideration of Rs. 125 crore.

Astral: The company has started commercial production of adhesives division at Dahej plant.

Lemon Tree Hotels: The company has signed a License Agreement a 50 rooms property in Visakhapatnam, Andhra Pradesh under the company's brand ?Red Fox Hotels?. The hotel is expected to be operational by FY 2026.

Virinchi: Virinchi has completed the purchase of a plot and an old building measuring 1290 square yards in Jubilee Hills, Hyderabad. This property will be utilized for the company's own corporate office development. The sale deed was executed on 26 October 2023 with a third-party seller who is not associated with the promoter or promoter group companies.

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