Top 10 stocks for today – 7th November 2023

7 Nov 2023 , 08:41 AM

Bajaj Finance: On November 6, the top non-banking financial firm announced a qualified institutions placement (QIP) to raise funds. The floor price per share has been set at Rs. 7,533.81. The company may provide a 5% reduction off the floor price.

Gland Pharma: Despite a high topline, the pharma business earned a consolidated profit of Rs 194.1 crore for the July-September quarter of FY24, a 20% drop due to disappointing EBITDA margin performance. In Q2FY24, consolidated revenue grew by 32% year on year to Rs 1,373.4 crore.

FSN E-Commerce: The Nykaa operator reported a consolidated profit of Rs 5.85 crore for the quarter ended September FY24, up 42.3% year-on-year, thanks to strong operating and topline performance. Despite the fact that the festive season began in October this year rather than September last year, consolidated income from operations increased by 22.4% year on year to Rs 1,507 crore.

Emami: Despite a robust operating performance, the FMCG company’s consolidated earnings fell 3.1% year on year to Rs 178.5 crore for the quarter ended September FY24. In Q2FY24, consolidated revenue from operations grew by 6% year on year to Rs 864.5 crore. 

Hindustan Petroleum Corporation: The oil marketing company’s standalone earnings fell 17.50% sequentially to Rs 5,118.2 crore in the July-September period of FY24, dragged down by a weaker topline. Revenue from operations fell 14.5% quarter-over-quarter to Rs 95,701 crore.

NHPC: Despite lower topline and operating performance, the state-owned power production business achieved a consolidated profit of Rs 1,546 crore for the July-September quarter of FY24, a 0.7% increase over the year-ago period, aided by a tax write-back.

Bank of India: Rajesh Sadashiv Ingle has been promoted as Chief General Manager of the Bank of India, effective November 6. The bank’s general manager was Rajesh Sadashiv Ingle.

Gujarat State Petronet: The gas transmission business posted a consolidated profit of Rs 590.4 crore for the fiscal quarter ended September FY24, up 36% year-on-year, thanks to good operating performance. For the quarter, revenue from operations increased by 3.8% sequentially to Rs 4,265.2 crore.

Central Bank of India: M. V. Rao’s tenure as Managing Director and CEO of the Central Bank of India has been extended by the Government of India till July 31, 2025. His current term is set to end on February 29, 2024.

Redington: Despite a good topline, the technology solutions provider posted consolidated profit of Rs 311.6 crore for the quarter ended September FY24, a 20.5% decrease from the previous corresponding period.

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