Akash Jha
The TVS Motor Company, Ltd. (CMP: Rs 1384.00) TVS Motor Limited’s net profit increased by 46 percent to Rs 468 crore in the quarter ending in June, and the company’s stock rose by about 6 percent on July 25 as a result. Two- and three-wheeler sales for the Chennai-based company increased by 20 percent to a total of Rs 7,218 crore from Rs 6,009 crore in the corresponding period in the previous year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the first quarter were Rs 764 crore, up 27 percent from Rs 599 crore in the same period a year ago.
Market Price of Rs 376.45 for Mahindra Logistics Ltd. After reporting a deficit for the first quarter of FY24, Mahindra Logistics Ltd’s stock dropped more than 5% on July 25. Mahindra Logistics’ earnings were impacted by increasing costs and weaker demand. For the quarter ending June 30, 2023, the company posted a net loss of Rs 8.30 crore, down from a net profit of Rs 13.64 crore during the same period a year earlier. Mahindra Logistics reported a 7.78% growth in revenue from operations to Rs 1,293.22 crore in Q1FY24, up from Rs 1,199.90 crore in Q1FY23. Its total expenses increased by Rs 1,298.83 crore, or 9.69 percent, year over year.
CMP Rs 119.25 | Tata Steel Ltd. Tata Steel’s stock price increased by more than 3 percent on July 25 after the business reported stronger-than-expected earnings for the April-June quarter. Tata Steel’s first-quarter consolidated net profit fell 93% year-over-year to Rs 525 crore. The company’s operations in Europe were mostly responsible for this decline. Net profit for the company was Rs 1,566 crore in the preceding quarter (January-March 2023), significantly lower than the Rs 7,714 crore it earned in the same period a year earlier.
CPL (Chennai Oil Company Limited) | CMP Rs 400.50 | The share price of Chennai Petroleum Corporation dropped 9.5% on July 25 after the business reported dismal earnings. The company’s net profit dropped 76% year-over-year to Rs 556.5 crore in the June quarter, while EBITDA (earnings before interest, tax, depreciation, and amortisation) dropped 72% to Rs 949.87 crore. These figures compare to the June quarter of a year ago, when consolidated revenue was Rs 27,449.52 crore. From a year ago, its operating margin dropped dramatically to 5.3%.
CMP Rs 59.80 | SJVN Ltd. On July 25, after SJVN acquired five contracts totaling 5097 MW from the government of Arunachal Pradesh, the stock price of the company rose by approximately 5 percent. Etalin (3,097 MW), Attunli (680 MW), Emini (500 MW), Amulin (420 MW), and Mihumdon (400 MW) are the projects that received funding. Dibang Basin’s central location means all five projects will make efficient use of available resources and be completed on schedule. On the same day, shares of stock reached a 52-week high of Rs 62.70.
CMP Rs 326.00 | JK Paper Ltd. On July 25, after reporting an 18% increase in net profit for the April-June quarter of this fiscal year, shares of JK Paper jumped over 4%. On July 24th, the paper and packaging products manufacturer declared a net profit of Rs 313 crore for the quarter ending in June, an increase of 18% from the Rs 264 crore reported in the same period last year. The net profit increased by 10% sequentially, from Rs 284 crore. Q1FY23 operating revenue of Rs 1,664 crore was up 16% year-on-year (YoY) from Q1FY22’s Rs 1,430 crore but down 3.2% sequentially from Q1FY22’s Q3 operating revenue of Rs 1,719 crore. The EBITDA of Rs 532.03 crore was a significant increase over the EBITDA of Rs 458 crore reported in the prior-year period.
CMP: Rs 480.00 DLF Ltd. DLF stock dropped about 3% on July 25 after the business announced presales of Rs 2,040 crore, which was flat quarter-over-quarter but down 76% year-over-year. Analysts, however, found it to be consistent with their predictions. Despite investors’ lukewarm response to DLF’s Q1 earnings thus far, experts are optimistic because of the company’s strong pre-sales numbers, significant reduction in debt, and planned slum restoration project in Mumbai.
CMP: Rs 67.85 Jammu and Kashmir Bank Ltd. Despite posting strong Q1 earnings, J&K Bank’s stock plummeted more than 4% on July 25. According to financial data announced on July 24th, Jammu and Kashmir Bank’s net profit for the first quarter of FY24 nearly doubled from Rs 166 crore to Rs 326.5 crore. Gross non-performing assets (GNPA) of private sector banks fell to 5.77 percent in Q1FY24 from 9.09 percent a year earlier. During this time span, the NNPA rate fell from 3.02 percent to 1.39 percent.
CMP Rs 91.05 | Ircon International Ltd. Even though Ircon International was awarded a Rs 80-crore contract from the Workshop Projects Organisation of the Indian Railways on July 25, the company’s stock price fell by 2%. In connection with the detachment-free rake examination facilities (Ph-II) at the exchange yard of Bondamunda, South Africa, Ircon International has been awarded the civil, electrical and mechanical composite works, which include the construction of an industrial shop with a pre-engineered building (PEB), water supply system, drainage system, electrification and illumination works, associated telecom works and the supply and commissioning of specified Mechanical Machineries (EOT cranes, etc.).
Shares of DCM Shriram Ltd., Current Market Price Rs. 848.50, After reporting a net profit decline of 78% to Rs 57 crore for the June quarter, DCM Shriram’s stock price dropped 6% on July 25. Compared to the previous year, revenue was down 2 percent, totaling Rs 2,780 crore. In Q1FY24, the chemical industry contributed 40% less to total revenue, at Rs 536 crore, year-over-year. As a result of an overabundance of chemicals produced in the United States, Europe, China, and India and a lack of demand, the chemical industry has been suffering.
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