The domestic equity market closed lower for the fifth straight session on Wednesday. Sensex slipped 523 points to end the session at 64,049 and Nifty lost 159 points to settle at 19,122.
Here’s a look at stocks that are likely to remain in news today.
Axis Bank
Axis Bank reported a 10% rise in second-quarter profit on Wednesday, helped by strong growth in loans. Net profit climbed 10% to Rs 5,864 crore in the quarter ending September 30, 2023 from a year earlier. The bank's net interest income rose 19% to Rs 12,315 crore in Q2FY24 as against Rs 10,360 crore in Q2FY23.
Tech Mahindra
IT firm Tech Mahindra reported a 61.6% year-on-year (YoY) fall in net profit at Rs 494 crore for the September quarter compared with Rs 1,285.4 crore in the corresponding quarter last year. The board approved an interim dividend of Rs 12/- per equity share of Rs. 5/- each i.e. 240% of the face value. It fixed Thursday, November 2, 2023 as the record date for determining the members entitled to receive the interim dividend.
IRM Energy
The shares of Gujarat-based gas distribution company will make their debut on the BSE and NSE today. The final issue price of the IPO was at Rs 505 per share.
Jubilant Foodworks
The food services company logged a 39.5 percent on-year fall in standalone profit at Rs 72.1 crore in Q2, impacted by a sharp fall in EBITDA margin. Standalone revenue from operations climbed 4.5 percent to Rs 1,344.8 crore during the same period.
Chennai Petroleum Corporation
The Indian Oil Corporation's arm reported a 117% rise in profit to Rs 1,190.56 crore for the July-September quarter over the previous quarter, led by a spike in EBITDA. Revenue from operations (excluding excise duty) grew 12.2 percent QoQ to Rs 16,544.6 crore for the quarter.
Sonata Software
The IT services provider logged a consolidated profit of Rs 124.2 crore for the July-September period of FY24, rising 3.4 percent over the previous quarter despite a fall in topline, supported by EBIT and margin. Revenue from operations during the quarter slipped by 5.1 percent sequentially to Rs 1,912.6 crore.
Chalet Hotels
The hotel chain logged a healthy growth in financials with consolidated profit growing 131.4 percent YoY to Rs 36.4 crore, driven by EBITDA margin and topline. Revenue from operations in the September quarter climbed 27 percent YoY to Rs 314.5 crore.
Earnings today
Asian Paints, ACC, Punjab National Bank, Canara Bank, Colgate-Palmolive (India), Aavas Financiers, Vodafone Idea, Aditya Birla Sun Life AMC, Coromandel International, Dixon Technologies, Indian Bank, Jindal Saw, Max India, NLC India, RailTel Corporation, Shriram Finance, Symphony, Tata Teleservices, and Westlife Foodworld are in focus ahead of their quarterly earnings today.
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