Market Commentary     09-May-24
Stock Alert
Stock Alert: L&T, Hero MotoCorp, RIL, HDFC Life

Stocks under NSE F&O ban: Canara Bank, Piramal Enterprises, Aditya Birla Fashion & Retail, Balrampur Chini Mills, Biocon, GMR Airports Infrastructure, Vodafone Idea, Punjab National Bank, SAIL, Zee Entertainment Enterprises.

Larsen & Toubro (L&T) reported consolidated revenues at Rs 67,079 crore in Q4 March 2024, recording a y-o-y growth of 15%. The share of international revenues during the quarter was 45%. The quarterly PAT was at Rs 4,396 crore, registered a growth of 10% y-o-y basis. The board has recommended a final dividend of Rs 28 per equity share, for the approval of shareholders.

The consolidated order book of the group as on March 31, 2024, is at Rs 475,809 crore registers growth of 20% over the previous year, with the share of international orders at 38%.

On a consolidated basis, net profit of Hero MotoCorp rose 16.13% to Rs 935.01 crore in the quarter ended March 2024 as against Rs 805.12 crore during the previous quarter ended March 2023. Sales rose 14.02% to Rs 9616.68 crore in the quarter ended March 2024 as against Rs 8434.28 crore during the previous quarter ended March 2023.

On a consolidated basis, net profit of H.G. Infra Engineering rose 11.17% to Rs 190.03 crore in the quarter ended March 2024 as against Rs 170.93 crore during the previous quarter ended March 2023. Net sales rose 11.26% to Rs 1708.26 crore in the quarter ended March 2024 as against Rs 1535.43 crore during the previous quarter ended March 2023.

Reliance Industries: Acquired 100% stake in Reliance Chemicals for Rs 314.5 crore.

HDFC Life: IRDAI approves appointment of Keki M. Mistry as the company's chairman.

Bank of Baroda: Restrictions lifted by RBI on mobile app 'Bob World'. Customer onboarding has resumed.

Juniper Hotels: Secured term loan of Rs 491 crore.

Nucleus Software: Appointed Surya Prakash Kanodia as new CFO.

NBCC: Secured Rs 400 crore order from the Supreme Court.

TVS Supply Chain Solutions: Landed business deal for Eicher's bus facility in Baggad.

Wipro: Collaborates with Kognitos for AI-powered business automation solutions.

RVNL: Awarded Rs 167.3 crore order by Southeastern Railway.

Godrej Properties: Increased stake in Godrej One Premises Management to 28% by acquiring an additional 14% from Godrej and Boyce.

NTPC: NTPC Green Energy signed MoU with Mahatma Phule Renewable Energy for developing renewable energy projects in Maharashtra.

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