Market Commentary - Stock Alert
Hero Motocorp, Tata Steel, Britannia, SBI to be watched As on : 02-Nov-23  08:59

Hero Motocorp: The two wheeler major reported a net profit of Rs 1,053.81 crore in Q2 FY24, registering a growth of 47.17% as compared with Rs 716.07 crore in Q2 FY23. Revenue from operations increased 4.08% YoY to Rs 9,445.42 crore in Q2 FY24.

Tata Steel: The steel major reported consolidated net loss of Rs 6511 crore in Q2 FY24 as compared with net profit of Rs 1297 crore in Q2 FY23. Turnover fell to Rs 59,490 crore in Q2 FY24 from Rs 59,878 crore in Q2 FY23.

Britannia Industries: The company reported consolidated net profit of Rs 586.50 crore in Q2 FY24 as compared with net profit of Rs 490.58 crore in Q2 FY23. Total income rose to Rs 4,485.23 crore in Q2 FY24 from Rs 4,432.85 crore in Q2 FY23.

State Bank of India (SBI): SBI raised Rs 10,000 crore at a coupon rate of 7.81% through its first Basel III compliant Tier 2 Bond for the current financial year. The bonds are issued for 15 years tenor, with the first call option after 10 years.

Bajaj Finance: The Preferential Issue Special Committee of the Board of Directors of the Company has approved the issue of 15,50,000 Warrants to Bajaj Finserv Limited, Promoter and holding company, at an issue price of Rs. 7,670 per Warrant, for an amount aggregating to Rs. 1,188.85 crore.

Eicher Motors: Eicher Motors' motorcycles sales rose 3% to 84,435 units in October 2023 over October 2022.

Pfizer: The company has entered into an agreement to assign and assume the Lease of MIDC land and sale of building constructed on land for transferring and assigning Pfizer's unexpired leasehold rights in the land situated at Plot No.16, Trans Thane Creek Industrial Area, Turbhe, Thane, to Zoetis Pharmaceutical Research Private Limited for a lumpsum consideration of Rs. 264.40 crore.

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