Kopar Khairane

Canara Bank, Tata Steel, Tech Mahindra, IOCL, Bajaj Auto, and Other Stocks To Monitor

<p>In December 2022, the gross non-performing assets (GNPA) ratio was 5.89%; in September 2023, it was 4.76%; and in December 2023, it was 4.39%. In December 2023, the proportion of net non-performing assets (NNPA) was 1.32%, down from 1.41% in September 2023 and 1.96% in December 2022. Provision Coverage Ratio (PCR) increased from 86.32% in December 2022 to 89.01% in December 2023.</p>
<p><img decoding=”async” class=”alignnone wp-image-372480″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-canara-bank-tata-steel-tech-mahindra-iocl-bajaj-auto-and-other-stocks-to-monitor-s-1.jpg” alt=”theindiaprint.com canara bank tata steel tech mahindra iocl bajaj auto and other stocks to monitor s 1″ width=”873″ height=”492″ title=”Canara Bank, Tata Steel, Tech Mahindra, IOCL, Bajaj Auto, and Other Stocks To Monitor 18″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-canara-bank-tata-steel-tech-mahindra-iocl-bajaj-auto-and-other-stocks-to-monitor-s-1.jpg 600w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-canara-bank-tata-steel-tech-mahindra-iocl-bajaj-auto-and-other-stocks-to-monitor-s-1-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-canara-bank-tata-steel-tech-mahindra-iocl-bajaj-auto-and-other-stocks-to-monitor-s-1-150×85.jpg 150w” sizes=”(max-width: 873px) 100vw, 873px” /></p>
<p><strong>Steel Titan</strong><br />
Tata Steel said on January 24 that its consolidated net profit for the third quarter of FY24 was Rs 522 crore, up from the net loss of Rs 2,501.95 crore in the same period the previous year. For the current fiscal year, the company’s net loss for the second quarter was Rs 6,511.16 crore. When comparing income from operations year over year (YoY), it was down 3% to Rs 55,312 crore from Rs 57,084 crore recorded in the same quarter of the previous year. In Q3FY24, the EBITDA margin increased to 11.3% from 7.1% in Q3FY23.</p>
<p><strong>Mahindra Tech</strong><br />
Tech Mahindra reported a 61% decline in its third-quarter net profit for the fiscal year 2023–2024 on Wednesday. The company claims that it achieved a profit of Rs 510.40 crore as compared to Rs 1,297 crore during the same period in 2022. The IT giant’s revenue was Rs 13,101 crore, up 1.8% quarter over quarter and down 4.6% year. Tech Mahindra reported Rs 5.8 profits per share (EPS) and Rs 1,146 crore EBITDA, which was up 6.9% quarter-over-quarter and down 46.5% year.</p>
<p><strong>Indian Oil Company, Ltd.</strong><br />
Indian Oil Corporation Limited (IOCL) reported a standalone net profit of Rs 8,063.39 crore for the October–December 2023–24 period on January 24. This is a greater profit than the Rs 448.01 crore profit for the same period the previous year. IOC’s operating income from October to December came in at Rs 2.23 lakh crore, a little less than the Rs 2.28 lakh crore earned the year before. In the third quarter of this year, earnings before interest and taxes, or EBIT, increased to Rs 12,100 crore from Rs 1,971 crore during the same time last year.</p>
<p><strong>Bajaj Vehicle</strong><br />
In its quarterly results, Bajaj Auto reported a 37% YoY increase in net profit or Rs 2,042 crore. In the third quarter, Bajaj Auto’s operating revenue climbed by 26% to Rs 12,165.33 crore. In the same time last year, Bajaj Auto recorded sales of Rs 9.315 crore and a net profit of Rs 1,491, according to the company’s papers. In the fiscal year that ends in March 2024, Bajaj Auto’s EBITDA increased by 36.8% to Rs 2,430 crore in the third quarter.</p>
<p><strong>Rail Systems in Titagarh</strong><br />
In a significant strategic alliance, the Delhi-NCR-based Amber Group and the Kolkata-based Titagarh Rail Systems Limited agreed to establish a joint venture company or SPV to penetrate the railway component and subsystem market.</p>
<p>To establish the new railway component business and raise additional equity in Firema, Italy, TRSL and the Amber Group have agreed to invest up to Rs 120 crores each through their wholly owned subsidiaries, Sidwal Refrigeration Industries Pvt Limited, in order to obtain equal control over the SPV. This SPV will create a new facility in India to produce essential railway parts and subsystems needed in the production of railway and metro coaches, in addition to further equity investments into Titagarh Firema SpA, a Titagarh Group affiliate.</p>
<p>The Italian government’s investment arm, Invitalia, has already received approval in principle to make new investments. Firemen must provide JVC-SPV, Sidwal, and Titagarh Rail with preferred supplier status and right of first refusal (ROFR) for all of their goods in compliance with the conditions of the agreement.</p>
<p><strong>Bank DCB</strong><br />
DCB Bank said on Wednesday, January 24, that its net profit for the third quarter of FY24 increased to Rs 126.6 crore from Rs 113.9 crore at the same period the previous year, an 11.2% increase. Net interest income (NII) increased from Rs 446 crore to Rs 474 crore in Q3FY24 compared to the same period in the previous fiscal year. The bank’s net interest income (NII) rose by 6.3%. The gross non-performing asset (NPA) ratio was 3.43% this quarter as opposed to 3.36% last quarter. In Q3FY24, the net NPA ratio was 1.22% as opposed to 1.28% in the prior quarter. The capital adequacy ratio (CAR) was 15.72% as of December 31, 2023.</p>
<p><strong>DLF</strong><br />
On January 24, DLF Limited reported a 26% YoY increase in total net profit of Rs 649 crore for the third quarter of the current fiscal year. The company’s consolidated revenues climbed from Rs 1559.66 crore during the same period last year to Rs 1644 crore in October through December of 2023–24, according to a regulatory filing. EBITDA was Rs 633 crore in Q3 of FY24, compared to Rs 591 crore in Q2 of the same year.</p>
<p><strong>TVS Motor Company</strong><br />
TVS Motor posted a standalone net profit of Rs 593 crore for the quarter that ended in December 2023, according to financial statistics the two-wheeler business revealed on January 24. This is 68% higher than the Rs 352 crore it made at the same period last year. In the third quarter of FY24, the company’s operating revenue was Rs 8,245 crore, a 26% increase over the Rs 6,545 crore achieved at the same period in the previous fiscal year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 40% annually to Rs 924 crore. During the quarter, the EBITDA margin increased to 11.2 percent from 10.1 percent during the same period the previous year.</p>
<p><strong>Bharat Dalmia</strong><br />
The cement maker Dalmia Bharat Ltd said on Wednesday, January 24, that its net profit for the third quarter, which ended on December 31, 2023, increased 24.3% year over year to Rs 266 crore. In a regulatory filing, Dalmia Bharat said that its net profit for the same time the previous year was Rs 214 crore.</p>
<p>The company’s operating revenue increased by 7.3% to Rs 3,600 crore in Q3FY24 from the same period in the previous fiscal year, when it was Rs 3,355 crore. EBITDA increased by 20.3% to Rs 775 crore in the third quarter of the current fiscal year from Rs 644 crore in Q3FY23. The EBITDA margin for the reporting quarter was 21.5%, as opposed to 19.2% for the same period in the previous year.</p>

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