Top 10 stocks for today - 1st November 2023

1 Nov 2023 , 08:48 AM

State Bank of India: Sureddi Srinivasa Rao, the bank’s deputy managing director and chief risk officer, retired on October 31. Rama Mohan Rao Amara will take up the duties on November 1.

Larsen & Toubro: The infrastructure giant increased its consolidated profit by 45% year on year to Rs 3,223 crore for the fiscal quarter ended September FY24, with order inflow increasing by 72% year-on-year to Rs 89,153 crore.

Jindal Steel & Power: The OP Jindal Group firm reported a consolidated profit of Rs 1,390.1 crore for the July-September period of FY24, rising more than sixfold from the previous year, helped in part by operating success.

Lupin: The pharmaceutical company has obtained the Establishment Inspection Report (EIR) for its Mandideep unit-2 production facility from the US Food and Drug Administration (USFDA). The EIR was granted following the facility’s latest inspection on August 7 and 11, 2023.

Bharti Airtel: The telecom operator recorded a net profit of Rs 1,340.7 crore for the July-September period of FY24, a 16.9% decrease from the previous quarter, with revenue from operations down 1% QoQ to Rs 37,044 crore.

JSW Energy: Prashant Jain has opted to resign as the company’s joint managing director and CEO. Jain has stated his intention to withdraw from active professional life early to pursue personal interests. 

Tata Consumer Products: The FMCG firm’s consolidated profit increased by 3.10% year-on-year to Rs 338.2 crore for the fiscal quarter ended September FY24, aided in part by higher other income. Profit was increased by extraordinary revenue of Rs 111 crore in Q2FY23, resulting in a high base in Q2FY24. 

CE Info Systems: The digital maps and deep-tech products and platforms firm reported a 30% year-on-year increase in profit to Rs 33.1 crore for the fiscal quarter ending September FY24, with the highest-ever quarterly sales. During the quarter, revenue from operations increased by 19.4% year on year to Rs 91.1 crore.

Inox Wind: Inox Wind Energy’s promoter raised around Rs 800 crore through the sale of equity shares in Inox Wind. The transaction was carried out using stock market block trades. The cash collected will be invested in Inox Wind and utilised to reduce the company’s external debt, further strengthening its balance sheet. 

SBI Cards and Payment Services: SBI Card and Reliance Retail collaborated to launch the Reliance SBI Card. Customers will have a complete and gratifying buying experience with the lifestyle-focused credit card.

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