Stocks in news: TVS Srichakra, Laurus Labs, JSW Steel, YES Bank, Paytm and more

The domestic equity market closed lower for the third straight session on Friday. Sensex slipped 231 points to end the session at 65,397 and Nifty lost 82 points to settle at 19,542.    

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

TVS Srichakra   

The Board of Directors of TVS Srichakra has approved the formation of a subsidiary in USA, with an intention of acquiring the business of Super Grip Corporation, USA.  

Laurus Labs   

The firm's Q2 net profit fell to Rs 37 crore against Rs 232.8 crore in the Sepetmber 2022 quarter. Revenue of the firm in Q2 came at Rs 1,224 crore against Rs 1,576 crore on a YoY basis.  

JSW Steel   

The firm reported a net profit of Rs 2,773 crore in Q2 against a loss of Rs 915 crore in the corresponding quarter of previous fiscal. Revenue climbed 6.7% to Rs 44,584 crore in the last quarter against Rs 41,778 crore in Q2 of the previous fiscal.   

ICICI Bank  

ICICI Bank reported a 35.7 percent increase in standalone profit and a 24 percent rise in net interest income for the September 2022. The Mumbai-based bank's standalone profit surged to Rs 10,261 crore for the quarter, marking a substantial increase from the Rs 7,557.84 crore reported in the same period the previous year.  

YES Bank 

The lender logged a 47.4 percent surge in its second-quarter net profit to Rs 225.21 crore for the current fiscal year against bank's net profit at Rs 152.82 crore in the September 2022 quarter. 

Kotak Mahindra Bank 

The private sector lender reported a 24 percent on-year growth in standalone profit at Rs 3,191 crore in Q2 with operating profit growing 29 percent on-year to Rs 4,610 crore and improvement in asset quality numbers. Net interest income clmbed 23 percent to Rs 6,297 crore, with a net interest margin expansion of 7 bps. 

One 97 Communications 

The mobile payments and financial services company Paytm operator narrowed its net loss to Rs 290.5 crore in Q2 against a loss of Rs 571.1 crore in the same period last year. Revenue for the quarter grew 32 percent YoY to Rs 2,519 crore, led by increase in gross merchandise value (GMV), merchant subscription revenues, and growth of loans distributed through the platform. 

Ipca Laboratories 

The manufacturing facility at Ratlam, Madhya Pradesh has received Establishment Inspection Report from the US Food and Drug Administration (US FDA) classifying it as Voluntary Action Indicated (VAI). The US health regulator carried out an inspection of the Ratlam facility from June 5-13. 

JSW Energy 

The JSW Group company logged a 82.6 percent on-year growth in consolidated profit at Rs 850.2 crore in the last quarter. Revenue from operations climbed 36.5 percent YoY to Rs 3,259 crore in Q2. 

RBL Bank 

The private sector lender reported a 46 percent rise in on-year profit to Rs 294 crore despite sharply higher provisions, led by tax write-back. Net Interest income during the quarter climbed 26 percent year-on-year to Rs 1,475 crore. 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.    

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