Stocks in news: Tata Elxsi, Zensar Technologies, Bajaj Auto, Exide Industries and more

The domestic equity market closed higher on Monday. Sensex rose 261 points to points to 66, 428 and Nifty added 80 points to 19,811.

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

L&T Tech

Shares of L&T Technology Services are in news today after the firm reported a 5.17 per cent rise in its second-quarter (Q2) profit for the financial year 2023-24 (FY24). Profit came at Rs 315.4 crore in the September 2023 quarter as against Rs 299.9 crore in the year-ago period. Revenue from operations rose 4.59% to Rs 2,386.5 crore in the last quarter against Rs 2,281.7 crore in the corresponding period last year.

Tata Elxsi

Shares of Tata Elxsi are in news today as the company's net profit rose 14.8% year-on-year to Rs 200 cr ($24.03 million), while revenue from operations climbed to Rs 882 cr.

Bajaj Finance

Bajaj Finance shares are in news today after the firm reported a 28 per cent rise in net profit of Rs 3,551 crore from Rs 2,781 crore in the same quarter of the previous year. Net interest income (NII) climbed 26 per cent to Rs 8,398 crore from Rs 6,640 crore in the year-ago period.

Bajaj Auto

Shares of Bajaj Auto will be in focus as the firm will announce its Q2 FY24 earnings today.

Exide Industries

Exide Industries has invested Rs 1,00,00,00,015 by the way of subscription in the equity share capital of its wholly owned subsidiary Exide Energy Solutions Limited on Right basis.

IDFC First Bank

The Infrastructure Development Finance Company (IDFC) on Tuesday said that it had received approval from the Competition Commission of India (CCI) for its merger with IDFC First Bank. "...the CCI vide its letter dated today, i.e. October 17, 2023 has communicated that it has considered and approved the combination under Green Channel Route," IDFC said.

Kotak Mahindra Bank, ICICI Bank

The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 3.95 crore on Kotak Mahindra Bank and Rs 12.19 crore on ICICI Bank for non-compliance with a few regulatory norms. The Reserve Bank of India (RBI) has imposed penalties on Kotak Mahindra Bank and ICICI Bank due to non-compliance with certain operational guidelines, as per a recent release.

Zensar Technologies

The company clocked a 11.3% rise in net profit at Rs 173.9 crore for the quarter ended September FY24 with EBIT rising 3.5 percent to Rs 194.4 crore. EBIT margins expanded 40 bps QoQ to 15.7 percent. Revenue from operations increased by 1.1 percent sequentially to Rs 1,240.8 crore for the quarter.

VST Industries

The Hyderabad-based cigarettes manufacturer has reported a 17.6 percent year-on-year decline in net profit at Rs 75.95 crore, with tepid growth in topline, lower profit before tax and other income. Revenue from operations for the quarter increased by 2.86 percent on-year to Rs 452.3 crore.

HUDCO

The government will sell up to 7,00,66,500 equity shares of HUDCO, representing 3.50 percent of total paid-up equity on October 18-19, with an option to additionally sell up to 7,00,66,500 equity shares in case the oversubscription option is exercised. The floor price has been fixed at Rs 79 per share.

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