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SUMMARY
stocks to watch, Larsen & Toubro, Axis Bank, Jindal Steel and Power, SBI Life Insurance, RBL Bank, DCB Bank, JK Paper, Indraprastha Gas and more, these are the stocks to watch for today.
1 / 8Larsen & Toubro | The company posted a 12% rise in consolidated net profit to ₹2,786 crore in the June quarter, on the back of higher revenues. The company has achieved consolidated revenues of ₹55,120 crore for the first quarter of the current fiscal, registering a year-on-year growth of 15%.
2 / 8Axis Bank | Private sector lender reported a 4% increase in net profit to ₹6,035 crore in the June 2024 quarter, mainly due to higher interest income. The standalone net profit was ₹5,797 crore during the April-June 2023-24 quarter. The lender’s interest income in the first quarter rose to ₹30,060.73 crore against ₹25,556.77 crore in the year-ago quarter.
3 / 8Jindal Steel and Power | Steel maker reported a 20.9% year-on-year decline in net profit at ₹1,337.9 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹1,691.8 crore. The CNBC-TV18 poll had predicted a profit of ₹1,245 crore for the quarter under review.
4 / 8SBI Life Insurance | The company reported a 36.48% year-on-year growth in net profit to ₹520 crore for the June 2024 quarter. The company’s profit stood at ₹381 crore in the April-June quarter of FY 2023-24. SBI Life said it registered a new business premium of ₹7,033 crore during the period under review compared to ₹6,207 crore in the June 2023 quarter.
5 / 8RBL Bank | Baring Private Equity Asia through its vehicle Maple II B.V. is likely to sell its entire stake in private sector lender through block deals. The sale is set to take place at a floor price of ₹226 per share, representing a 5% discount to the previous closing price.
6 / 8DCB Bank | Private sector lender reported a 3.6% year-on-year dip in net profit at ₹131.4 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹126.9 crore. Net interest income (NII) increased 5.5%, coming at ₹496.6 crore against ₹470.7 crore in the corresponding quarter of FY24.
7 / 8JK Paper | The company reported a 54.8% year-on-year decline in net profit at ₹139.7 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹308.7 crore. The company’s revenue increased 8.2% to ₹1,713.7 crore against ₹1,584.4 crore in the corresponding period of the preceding fiscal.
8 / 8Indraprastha Gas | The nation’s biggest city gas operator reported an 8% year-on-year decline in net profit at ₹401 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, it posted a net profit of ₹438.40 crore. The company increased 3% to ₹3,520 crore against ₹3,406.98 crore in the corresponding period of the preceding fiscal.
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