Top 10 stocks for today - 21st October 2024

21 Oct 2024 , 09:23 AM

Here are some of the stocks that may see significant price movement today.

HDFC Bank: The bank’s net profit in the September quarter increased by 6% to ₹17,825.91 Crore on a consolidated basis. The largest private sector lender’s post-tax net profit increased to ₹16,820.97 Crore from ₹15,976.11 Crore the previous year. The company’s core net interest income increased by 10% to ₹30,010 Crore, driven by a 7% increase in gross advances and sustained margins of 3.46%.

Kotak Mahindra Bank: The bank announced a deal to purchase Standard Chartered Bank’s personal loan book in India. As of September 30, 2024, the proposed transaction has a total loan outstanding of around ₹4,100 Crore (approximately $490 Million), classed as “Standard Loans” under the Reserve Bank of India (RBI) rules.

JSW Steel: According to the firm, Jsquare Electrical Steel Nashik Private Ltd, a wholly-owned subsidiary of JSW JFE Electrical Steel Private Ltd, has signed a share purchase agreement to acquire a 100% equity interest in Thyssenkrupp Electrical Steel India Private Ltd (tkES India). The entire purchase consideration for the transaction is ₹4,051.40 Crore, subject to closing adjustments.

Tech Mahindra: The IT services firm’s consolidated net profit increased by over two-fold to ₹1,250 Crore in the July-September quarter, owing to special income from asset sales. The Mahindra Group reported a net profit of ₹493.9 Crore over the previous year. Revenue increased by 3.49% to ₹13,313.2 Crore in the second quarter of 2024-25, up from ₹12,863.9 Crore in the same quarter of 2023-24.

Godrej Properties:The real estate business has announced the acquisition of a 3-acre land piece in Vastrapur, Ahmedabad, with a development potential of 0.9 million square feet of saleable space. The project’s booking value is anticipated to be roughly ₹1,300 Crore, based on current business estimates. The project will largely include premium residential flats in various formats.

ICICI Lombard:In Q2 FY25, the company’s net profit increased by 20.2% to ₹694 Crore, up from ₹577 Crore in the same quarter last year. Profit growth was driven by a 10.4% increase in Gross Direct Premium Income (GDPI) to ₹6,721 Crore, above the industry’s modest growth of 2.0% over the same period.

L&T Finance: The company released its financial results for the quarter ended September 30, 2024. Total revenue from operations increased by 25% year-on-year to ₹4,019.34 Crore, up from ₹3,213.84 Crore in Q2 FY24. This expansion was fuelled by greater interest, fees, and commission income in its major business divisions.

Tata Consumer Products:The FMCG major posted a net profit of ₹359.3 Crore in the second quarter of September 30, 2024. The company’s income from operations climbed 13% to ₹4,214.5 Crore compared to ₹3,733 Crore in the previous fiscal year.

Dalmia Bharat: Cement producer reported a 60.5% year-on-year (YoY) fall in net profit to ₹49 Crore for the second quarter ending September 30, 2024. In the preceding fiscal quarter, Dalmia Bharat reported a net profit of ₹124 Crore, according to a regulatory filing.

MCX:The leading commodity bourse posted a net profit of ₹153.6 Crore for the second quarter ended September 30, 2024. In the preceding fiscal quarter, Multi Commodity Exchange reported a loss of ₹19.1 Crore, according to a regulatory filing. The company’s revenue from operations increased by 73% to ₹285.6 Crore, from ₹165.1 Crore in the previous fiscal year.

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