Top 10 stocks for today – 10th November 2023

10 Nov 2023 , 08:11 AM

Hindustan Aeronautics: Airbus and the state-owned military business have agreed to develop MRO (maintenance, repair, and overhaul) facilities for the A-320 family of aircraft in Nashik, Maharashtra. Airbus will provide the A320 family tool package as well as specialist advisory services to HAL in order for the company to construct an MRO facility for the A320 family of aircraft.

Rail Vikas Nigam: The state-owned railway business recorded a consolidated profit of Rs 394.5 crore for the July-September period of FY24, up 3.5% from the same period last year, owing to lacklustre topline growth and mediocre operating figures. In Q2 FY24, consolidated revenue from operations grew by 0.1% to Rs 4,914.3 crore.

Piramal Enterprises: The non-banking financing firm posted a profit of Rs 48 crore for the quarter ended September FY24, compared to a loss of Rs 1,536 crore in the same period last year, as loan loss provisions and fair value loss fell dramatically to Rs 198 crore from Rs 3,257 crore.

ICICI Bank: The Reserve Bank of India has granted the country’s second-largest private sector lender permission to make ICICI Securities a wholly owned subsidiary, subject to certain restrictions. The bank has requested to delist ICICI Securities’ equity shares under a scheme of arrangement.

Torrent Power: The electric utility business increased its consolidated profit by 9.2% year-on-year to Rs 526 crore for the July-September period of FY24, owing to lower tax expenditures and a greater operational margin. Revenue from operations increased by approximately 4% year-on-year to Rs 6,961 crore.

Ashok Leyland: The board of directors of the country’s second-largest commercial vehicle manufacturer has approved a Rs 1,200 crore investment in Switch Mobility through its parent company, Optare PLC UK.

Muthoot Finance: The gold loan finance firm reported a standalone profit of Rs 991 crore for the July-September period of FY24, up 14.3% from the previous fiscal period. Net interest income for the quarter was Rs 1,858.4 crore, up 18.2% from the previous year.

Aurobindo Pharma: The pharmaceutical company increased its consolidated profit by 85% year-on-year to Rs 757.2 crore for the July-September period of FY24, owing to strong operating performance and topline growth. The revenue from operations increased by 25.8% year on year to Rs 7,219.4 crore.

NBCC (India): Despite the increase in other income and respectable operational margin improvement, the state-run construction company’s net profit fell 16.6% y-o-y to Rs 79.6 crore for the quarter ended September FY24, affected by an unusual loss.

Glaxosmithkline Pharmaceuticals: The healthcare firm reported a consolidated profit of Rs 217.5 crore for the fiscal quarter ended September FY24, up 12.5% year-on-year due to improved operating results. Revenue from operations for the quarter climbed by 4.4% to Rs 957 crore compared to the same time previous year. 

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