Here are some of the stocks that may see significant price movement today.
Rail Vikas Nigam: According to the business, the joint venture KRDCL-RVNL has got a Letter of Acceptance (LoA) from Southern Railway to redevelop Thiruvananthapuram Central Railway Station in the engineering, procurement, and construction (EPC) manner. The project costs ₹438.96 Crore, of which RVNL owns 49%.
NMDC: The state-owned iron ore business has raised the lump ore price by ₹400, to ₹6,200 per tonne. The price of fines increased by ₹200 per tonne, to ₹5,260. The previous price for lump ore was ₹5,800 per tonne, while fines were ₹5,060 per tonne.
Tata Chemicals: The Tata Group company reported a net loss of ₹850 Crore for the January-March FY24 quarter, compared to a profit of ₹709 Crore in the previous year. The business has recognised a non-cash write-down of ₹963 Crore in assets related to the UK (Lostock Plant), which has been recorded as an unusual loss. Revenue from operations declined 21.1% year on year to ₹3,475 Crore in the quarter.
UCO Bank: The lender's net profit for the quarter ended March FY24 was ₹525.8 Crore, down 9.5% from the previous year, owing to higher provisions for bad loans and lower pre-provision operational profit. Net interest income rose 10.9% year on year to ₹2,187.4 Crore in the quarter. Asset quality improved in the quarter, with gross NPA lowering 39 basis points QoQ to 3.46% and net NPA falling 9 basis points to 0.89%.
Poonawalla Fincorp: The non-banking financial company posted a standalone net profit of ₹331.7 Crore for the March FY24 quarter, up 83.6% from the same time in the previous year. Net interest income increased by 57% year on year to ₹641 Crore during the quarter. Asset quality improved throughout the quarter, with gross NPA falling 17 basis points quarter on quarter to 1.16% and net NPA falling 11 basis points sequentially to 0.59%.
Jana Small Finance Bank: The small finance bank's net profit for the quarter ended March FY24 was ₹321.7 Crore, up nearly fourfold from ₹81 Crore the previous year, primarily to tax write-backs and lesser provisions. Net interest income increased by 26.5% year on year to ₹591 Crore during the quarter.
RITES: Bangladesh Railway has accepted the company's offer to supply 200 Broad Gauge (BG) passenger carriages. The contract for $111.26 million will be completed within 36 months.
KFin Technologies: The technology-driven financial services firm posted a consolidated net profit of ₹74.5 Crore for the March FY24 quarter, up 30.6% from the same time in the previous year. Revenue from operations for the quarter was ₹228.3 Crore, up 24.7% year on year. The board has recommended a final dividend of ₹5.75 per share for fiscal year 24.
Birlasoft: The software company reported a consolidated net profit of ₹180 Crore for the quarter ended March FY24, up 60.5% from the same time the previous fiscal year, owing to strong operating results. Revenue from operations increased by 11.1% year on year to ₹1,362.6 Crore in the quarter. The board has recommended a final dividend of ₹4 per share for Fiscal Year 24.
Shoppers Stop: The department store chain's consolidated net profit increased by 62.55% year on year to ₹23.2 Crore in the March FY24 quarter, boosted in part by a strong topline and other income. Revenue from operations climbed by 13.3% year on year to ₹1,046.3 Crore in the quarter. Meanwhile, the board promoted and nominated Kavindra Mishra as the company's MD and CEO.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.