Market Commentary - Stock Alert
Bharti Airtel, L&T, SBI Cards, Blue Jet Healthcare to be watchd As on : 01-Nov-23  08:39

Bharti Airtel: The telecom major's consolidated net profit slipped 37.5% to Rs 1,340.7 crore in Q2 FY24 as against Rs 2,145.2 crore reported in Q2 FY23. Revenue from operations grew 7.29% to Rs 37,043.8 crore in the quarter ended 30 September 2023, backed by strong and consistent performance in India operations.

L&T: The engineering & construction major's consolidated net profit rose 45% to Rs 3223 crore on 19% rise in revenue to Rs 51024 crore in the quarter ended 30 September 2023 over the quarter ended 30 September 2022. The company received orders worth Rs 89,153 crore at the group level during the quarter ended 30 September 2023, registering a growth of 72% on y-o-y basis. The consolidated order book is at Rs 450,734 crore as on 30 September 2023, with international orders having a share of 35%.

SBI Cards and Payment Services: SBI Card and Reliance Retail have come together to launch the co-branded ?Reliance SBI Card?. The card enables cardholders to unlock rewards and benefits while transacting at Reliance Retail?s extensive and diverse ecosystem, ranging from fashion & lifestyle to grocery, consumer electronics to pharma, furniture to jewelry, and many more. Additionally, Reliance SBI Card users can also enjoy thoughtfully curated offers rolled out by SBI Card on an ongoing basis.

Tata Consumer Products: The company has recorded 1% rise in consolidated net profit to Rs 359 crore on a 11% increase in revenue from operations to Rs 3,734 crore in Q2 FY24 as compared with Q2 FY23.

Jindal Steel & Power (JSPL): JSPL has reported 534% rise in consolidated net profit to Rs 1,390 crore in Q2 FY24 from Rs 219 crore in Q2 FY23. Net revenue, however, declined by 9% year-over-year to Rs 12,282 crore in the second quarter from Rs 13,522 crore recorded in the same period last year.

Blue Jet Healthcare: Shares of the company will debut on the bourses today, 1 November 2023. The issue price is Rs 346 per share.

Lupin: Limited announced that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (U.S. FDA) for its Mandideep Unit-2 manufacturing facility. The EIR was issued post the last inspection of the facility conducted from 7 to 11 August 2023. The inspection closed with the facility receiving an inspection classification of No Action Indicated (NAI).

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