Market Commentary - Stock Alert
Stock alert: Sun Pharma, PayTM, Nykaa, Reliance Industries, P I Inds As on : 22-May-24  08:51

Results in spotlight: Sun Pharmaceutical Industries, Power Grid Corporation, Grasim Industries, One 97 Communications (PayTM), FSN E-Commerce Ventures (Nykaa), Max Healthcare Institute, Torrent Power, Petronet LNG, New India Assurance, Jubilant Foodworks, Metro Brands, Gland Pharma, Star Cement, HEG, Avanti Feeds, Indigo Paints, etc.

Stocks under F&O ban: Aditya Birla Capital, Balarampur Chini Mills, Bandhan Bank, Biocon, GMR Infra, Granules, Vodafone Idea, Indian Energy Exchange, India Cements, National Alunimium, Piramal Enterprises, PNB, Zee Entertainment Enterprise.

Reliance Industries signed a license agreement with Nel Hydrogen Electrolyser in which the company will get an exclusive license for Nel?s alkaline electrolysers in India and allow RIL to manufacture Nel?s alkaline electrolysers for captive purposes globally.

United Spirits' Nanded unit received notice from the Water Resources Department to pay water charges of Rs 345.45 crore. The company has filed a petition in the Bombay High Court for the same.

TVS Motor launched the TVS iQube electric scooter in Sri Lanka.

Royal Orchid Hotels to open a 5-star resort in Kevadia, Gujarat.

G R Infraprojects emerged as the lowest bidder for the Pune Ring Road project worth Rs 1,997 crore and the Wardha Expressway road project worth Rs 2,350 crore.

HG Infra Engineering emerged as the lowest bidder for two MSRDC projects worth Rs 4,142 crore.

PNC Infratech emerged as the lowest bidder for two road projects worth Rs 4,994 crore from MSRDC.

Suyog Telematics signed a 15-year pact with BSNL for the rollout of sites across India.

Indoco Remedies received final approval from the USFDA for an abbreviated new drug application for pregabalin capsules.

Biocon's arm, Biocon Biologics, announced that the USFDA has approved the company's first-to-file application for Yesafili.

On a consolidated basis, net profit of P I Industries rose 31.68% to Rs 369.50 crore in the quarter ended March 2024 as against Rs 280.60 crore during the previous quarter ended March 2023. Sales rose 11.20% to Rs 1741.00 crore in the quarter ended March 2024 as against Rs 1565.60 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of MPS declined 10.64% to Rs 28.71 crore in the quarter ended March 2024 as against Rs 32.13 crore during the previous quarter ended March 2023. Sales rose 17.23% to Rs 149.42 crore in the quarter ended March 2024 as against Rs 127.46 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Gulf Oil Lubricants India rose 38.74% to Rs 86.24 crore in the quarter ended March 2024 as against Rs 62.16 crore during the previous quarter ended March 2023. Sales rose 9.79% to Rs 869.63 crore in the quarter ended March 2024 as against Rs 792.05 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Sheela Foam rose 49.48% to Rs 64.62 crore in the quarter ended March 2024 as against Rs 43.23 crore during the previous quarter ended March 2023. Sales rose 15.93% to Rs 845.15 crore in the quarter ended March 2024 as against Rs 729.04 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Tilaknagar Industries declined 46.79% to Rs 31.45 crore in the quarter ended March 2024 as against Rs 59.10 crore during the previous quarter ended March 2023. Sales rose 0.37% to Rs 358.78 crore in the quarter ended March 2024 as against Rs 357.45 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of Fiem Industries rose 21.54% to Rs 46.22 crore in the quarter ended March 2024 as against Rs 38.03 crore during the previous quarter ended March 2023. Sales rose 28.17% to Rs 554.79 crore in the quarter ended March 2024 as against Rs 432.84 crore during the previous quarter ended March 2023.

On a consolidated basis, Ramco Systems reported net loss of Rs 23.01 crore in the quarter ended March 2024 as against net loss of Rs 45.57 crore during the previous quarter ended March 2023. Sales rose 3.95% to Rs 131.20 crore in the quarter ended March 2024 as against Rs 126.22 crore during the previous quarter ended March 2023.

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