Stocks in news: Tata Motors, Ashok Leyland, Piramal Enterprises Aurobindo Pharma and more

The domestic equity market closed lower on Thursday. Sensex fell 143 points to end the session at 64,832 and Nifty lost 48.20 points to settle at 19,395.    

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

Tata Motors

Ratings agency Moody's has upgraded Tata Motors Limited's corporate family rating (CFR) to Ba3 from B1. Tata Motors senior unsecured instruments ratings have also been raised to Ba3 from B1. The ratings agency has maintained a positive outlook on all ratings.

Suven Pharma

Suven Pharma reported a 10 percent year-on-year (YoY) rise in consolidated net profit to Rs 79.5 crore in Q2 of this fiscal against a profit of Rs 72 crore in the same period last year. Revenue came in at Rs 231.1 crore, falling 17 percent from Rs 278.4 crore in the year-ago period.

Ashok Leyland

Ashok Leyland’s board has cleared an investment of Rs 1,200 crore in its EV arm Switch Mobility for capital expenditure, R&D and meeting operational requirements in the UK as well as in India. The funds will be infused over the next few months after necessary statutory approvals in one or more tranches, Ashok Leyland said.

Aurobindo Pharma

Aurobindo Pharma reported a 85 percent year-on-year rise in consolidated net profit to Rs 757crore for the July-September quarter of the current financial year against a profit of Rs 410 crore in the same period last year. Revenue climbed 25.7% to Rs 7,219.4 crore from Rs 5,739.3 crore a year-ago.

Piramal Enterprises

Piramal Enterprises reported a net profit of Rs 48 crore for the July to September quarter of the current fiscal. The company reported a net loss of Rs 1,537 crore for the quarter ended September 30, 2022. The non-banking financial company's (NBFC) revenue from operations rose 16% to Rs 2,193 crore during the quarter under review, compared to Rs 1,893.71 crore in the same quarter a year ago.

Welspun Enterprises

Welspun Enterprises Ltd (WEL) posted a 48% fall in its consolidated net profit to Rs 69.01 crore during the September quarter.  It had clocked Rs 132.98 crore net profit during the July-September period of preceding 2022-23 fiscal. Total income rose to Rs 692.65 crore against Rs 552.92 crore in the year-ago quarter. Its expenses also increased to Rs 595.61 crore from Rs 512.29 crore a year ago.

Jet Airways

Jet Airways has delayed the announcement of its Q2 results for fiscal 2023-24 (Q2FY24) due to ‘some unavoidable circumstances’. The debt-ridden airline said the September quarter earnings could not be adopted by the ‘Monitoring Committee’ in the meeting held on Thursday, November 9.

Ircon International

The company logged a 44% rise in net profit at Rs 250.8 crore in the September quarter of FY24 against a net profit of Rs 174.2 crore in the year-ago period. Total income rose to Rs 3,136.3 crore in Q2 from Rs 2,305.9 crore in the same quarter last year. The total order book of the company stood at Rs 32,152 crore as on September 30.

Bajaj Hindusthan

Bajaj Hindusthan Sugar logged a consolidated net loss of Rs 122.87 crore in Q2 against a net loss of Rs 162.37 crore. The Bajaj Group (Kushagra) company said that its total income fell to Rs 1,163.30 crore in the July-September period of fiscal year 2023-24, from Rs 1,329.99 crore in the corresponding period of the previous year.

REC

State-owned REC has agreed to provide funds worth Rs 30,000 crore to RailTel Corp. of India. The agreement, inked through a memorandum of understanding (MoU) will support various projects over the next five years, including telecom, IT services, and railway signaling systems, and the KAVACH train collision prevention system.

Zee Entertainment

Media and entertainment company Zee Entertainment Enterprises reported a 9% year-on-year rise in its consolidated net profit to Rs 123 crore. Operating revenue rose to Rs 2437.8 crore as compared to Rs 2023.9 crore a year ago.

 

 

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