Market Commentary - Stock Alert
Power Grid, IndiGo, Voltas, Shree Cement in focus As on : 08-Nov-23  08:53

Power Grid Corporation of India: The company reported consolidated net profit of Rs 3,781.42 crore in Q2 FY24 as compared to net profit of Rs 3,650.29 crore in Q2 FY23. Total income rose to Rs 11,530.43 crore in Q2 FY24 from Rs 11,349.44 crore in Q2 FY23.

InterGlobe Aviation: IndiGo provided a further update on the preliminary assessment of the impact of the powder metal issue on its Pratt & Whitney powered fleet. Based on preliminary assessment of this, the company anticipates Aircraft on Ground (AOG) in the range of mid thirties in the fourth quarter (Jan-March 2024) due to accelerated engine removals. These groundings will be incremental to the current AOGs.

Voltas: The company said that reports of Tata considering sale of Voltas Home Appliance Business is totally incorrect and blatantly false, with no factual basis whatsoever. The management therefore denies any such development.

Shree Cement: The company reported consolidated net profit of Rs 446.62 crore in Q2 FY24 as compared to net profit of Rs 183.24 crore in Q2 FY23. Total income rose to Rs 4932.11 crore in Q2 FY24 from Rs 4197.37 crore in Q2 FY23.

Apollo Tyres: The company reported consolidated net profit of Rs 474.26 crore in Q2 FY24 as compared to net profit of Rs 179.39 crore in Q2 FY23. Total income rose to Rs 6304.88 crore in Q2 FY24 from Rs 6962.89 crore in Q2 FY23.

SJVN: The company has received a Letter of Intent for purchase of 200 MW solar power from Uttarakhand Power Corporation Limited (UPCL). UPCL intends to purchase 200 MW power at a tariff of Rs 2.57 per unit from company?s 1,000 MW Bikaner Solar Project.

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