Market Commentary - Stock Alert
ICICI Bank, Bharti Airtel, ZEEL, Medi Assist in focus As on : 23-Jan-24  07:32

ICICI Bank: ICICI Bank reported 23.58% jump in net profit to Rs 10,271.54 crore on a 24.28% increase in total income to Rs 59,479.76 crore in Q3 FY24 as compared with Q3 FY23.

Bharti Airtel: Bharti Airtel's subsidiary Bharti Hexacom has filed a draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) for a Initial Public Offering (IPO).

Tata Consultancy Services (TCS): TCS has enabled Euroclear Finland, the National Central Securities Depository (CSD) of Finland, to integrate its core platform with the European securities settlement engine. This transformation program ensures easier cross-border settlements for investors in Finnish securities and has resulted in the most modern post-trade platform in Europe.

Zee Entertainment Enterprises (ZEEL): ZEEL in its board meeting took on record communications received from Culver Max Entertainment Pvt. Ltd. (formerly Sony Pictures Networks India) and Bangla Entertainment (BEPL), purporting to terminate the Merger Co-operation Agreement (MCA), and seeking a termination fee of $90,000,000 on account of alleged breaches by ZEEL of the terms of MCA, invoking arbitration and seeking interim reliefs against ZEEL. ZEEL categorically denied all the assertions raised by Culver Max and BEPL on the alleged breaches under the terms of the MCA, including their claims for the termination fee.

Medi Assist Healthcare Services: Shares of the company will debut on the bourses today, 23 January 2024. The issue price is Rs 418 per share.

Shree Cement: Shree Cement said that it has started commercial production at Nawalgarh cement plant situated at Village Gothra in Nawalgarh Tehsil of Rajasthan. With the commencement of cement production at the Nawalgarh facility, the company's total cement production capacity in India has risen from 49.9 MTPA to 53.4 MTPA.

Persistent Systems: The IT company?s consolidated net profit rose 8.68% to Rs 286.13 crore on 3.59% increase in revenue from operations to Rs 2,498.22 crore in Q3 FY24 over Q2 FY24.

Colgate-Palmolive (India): The FMCG major's net profit jumped 35.71% to Rs 330.11 crore in Q3 FY24 as against Rs 243.24 crore posted in Q3 FY23. Net sales increased 8.21% year on year (YoY) to Rs 1,386.41 crore in the quarter ended 31 December 2023.

IDFC First Bank: The private bank's standalone net profit increased 18.37% to Rs 715.68 crore on 33.01% jump in total income to Rs 9,395.95 crore in Q3 FY24 over Q3 FY23.

Tatva Chintan Pharma Chem reported 70.27% decline in consolidated net profit to Rs 34.55 crore in Q3 FY24 as compared with Rs 116.23 crore posted in Q3 FY23.

Lloyds Metals and Energy: The company reported 44.13% jump in consolidated net profit to Rs 33.15 crore on 91.9% rise in total income to Rs 1,923.61 crore in Q3 FY24 over Q3 FY23.

Transformers and Rectifiers (India): The company has reported 13% rise in consolidated net profit to Rs 15.57 crore on an 11% increase in revenue from operations to Rs 369.35 crore in Q3 FY24 over Q3 FY23.

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