Stocks in news: IRCTC, IndiGo, SJVN, Shree Cement and more

The domestic equity market closed on a flat note on Tuesday. Sensex fell 16 points to 64,958 and Nifty lost 5 points to settle at 19,406.

Here’s a look at stocks that are likely to remain in news today.

Indian Railway Catering and Tourism Corporation

The company logged a 30.4 percent on-year rise in standalone net profit at Rs 295 crore for quarter ended September FY24 as revenue from operations climbed 23.5 percent to Rs 995.3 crore led by growth across all segments.

Shree Cement

The cement maker recorded a 159 percent rise in standalone net profit at Rs 491 crore for the July-September quarter over a year-ago period. Revenue from operations rose 21 percent YoY to Rs 4,585 crore with sale volumes rising 10 percent YoY to 8.2 million tonnes.

Power Grid Corporation of India

The state-owned power transmission company logged a 3.6 percent year-on-year increase in consolidated profit at Rs 3,781.4 crore for quarter ended September FY24. Consolidated revenue from operations grew by 1 percent to Rs 11,267 crore compared to corresponding period of last fiscal.

Cummins India

The Pune-based engine maker reported a 30 percent on-year rise in standalone net profit at Rs 328.5 crore for July-September period of FY24. Standalone revenue from operations fell 2.6 percent YoY to Rs 1,900 crore during the quarter.

Apollo Tyres

The tyre maker logged a 164.4 percent rise in consolidated profit at Rs 474.3 crore for the quarter ended September FY24 on healthy financial performance after fall in input cost. Revenue from operations rose 5.4 percent to Rs 6,280 crore compared to corresponding period last fiscal.

SJVN

The company has received a Letter of Intent for the purchase of 200 MW solar power from Uttarakhand Power Corporation (UPCL). UPCL intends to purchase 200 MW power at a tariff of Rs 2.57 per unit from company’s 1,000 MW Bikaner solar project.

IndiGo

IndiGo said that based on its preliminary assessment and information received from Pratt & Whitney on the engine powder metal issue, it expects 35 aircraft to be grounded in the January-March quarter or fourth quarter of 2023-24. The 35 aircraft on ground (AOG) expected from January will be in addition to the planes IndiGo has grounded due to supply chain issues at the moment, the airline said in a press release.

KIMS

Hospital chain Krishna Institute of Medical Sciences Ltd (KIMS) reported a 4.5 percent fall in net profit at Rs 101 crore for the July-September period. The hospital operator's revenue came in at Rs 655 crore, clocking a 14.3 percent rise from Rs 573 crore in the year-ago period.

Zydus Lifesciences

The firm logged a 53.2 percent rise in consolidated net profit at Rs 800.7 crore in Q2. The pharma company had a bottomline of Rs 522.5 crore a year ago. Revenue climbed to Rs 4368.8 crore, 5.6 percent higher than Rs 4134.7 crore last fiscal.

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