Market Commentary - Stock Alert
RIL, NTPC, Bharti Airtel, UltraTech Cement in focus As on : 30-Oct-23  08:49

RIL: The Mukesh Ambani-led diversified company reported 28.15% increase in consolidated net profit to Rs 19,878 crore in Q2 FY24 as against Rs 15,512 crore posted in Q2 FY23. Gross revenue rose by 1.2% year on year (YoY) to Rs 255,996 crore in the quarter ended 30 September 2023, supported by continuing growth momentum in consumer businesses.

Bharti Airtel: The company announced that it has partnered with Microsoft to offer Indian organizations calling services over Microsoft Teams through an integration with Airtel IQ. With Airtel IQ for Microsoft Teams, enterprises will soon be able to enjoy greater flexibility in connecting with customers across the country over fixed line through the internet.

NTPC: The company reported consolidated net profit of Rs 4726.40 crore in Q2 FY24 as against net profit of Rs 3417.67 crore in Q2 FY23. Total income rose to Rs 45384.64 crore in the quarter ended September 2023 as against Rs 44681.50 crore during the previous quarter ended September 2022.

UltraTech Cement: The board of directors approved the 3rd phase of growth with an investment of Rs 13,000 crore towards increasing the capacity by another 21.9 mtpa with a mix of brown field and green field projects.

SBI Cards and Payment Services: The company reported 14.71% rise in net profit to Rs 602.98 crore on 22.24% increase in total income to Rs 4,221.40 crore in Q2 FY24 over Q2 FY23.

BPCL: The state-owned oil marketing firm reported a standalone net profit of Rs 8,501.17crore in Q2 FY24 as against a net loss of Rs 304.17 crore posted in Q2 FY23. Net sales (excluding excise duty) declined 10.3% to Rs 1,02,985.56 crore in Q2 FY24 from Rs 1,14,807.59 crore recorded in the corresponding quarter previous year.

Union Bank of India: The public sector bank's standalone net profit surged 90.04% to Rs 3,511.42 crore on 23.19% increase in total income to Rs 28,282.13 crore in Q2 FY24 over Q2 FY23.

Piramal Pharma: The pharmaceutical company reported a consolidated net profit of Rs 5.02 crore in Q2 FY24 as compared to a net loss of Rs 37.34 crore in Q2 FY23. Net sales grew by 11.13% year on year to Rs 1,911.38 crore during the quarter.

Bharat Electronics (BEL): The company's standalone net profit rose 32.94% to Rs 812.34 crore in Q2 FY24 as against Rs 611.05 crore reported in Q2 FY23. Revenue from operations increased marginally to Rs 3,918.13 crore in the quarter ended 30 September 2023 from Rs 3,896.20 crore in Q2 FY23.

Mahindra & Mahindra Financial Services: The company's net profit dropped 47.54% to Rs 235.18 crore on 24.19% increase in total income to Rs 3,240.49 crore in Q2 FY24 over Q2 FY23.

AU Small Finance Bank: The bank reported 17.3% increase in net profit to Rs 401.83 crore on 32% rise in total income to Rs 2,956.52 crore in Q2 FY24 over Q2 FY23.

IndiaMART InterMESH: The e-commerce company's consolidated net profit rose marginally to Rs 69.40 crore in Q2 FY24 as against Rs 68.40 crore recorded in Q2 FY23. Revenue from operations grew by 22.5% to Rs 294.70 crore in the quarter ended 30 September 2023.

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