04-Oct-2023 (09:40) Bajaj Finance new loans jumps 26% YoY in Q2 FY24
Customer franchise as of 30 September 2023 stood at 76.56 million, up 21.7% from 62.91 million as of 30 September 2022. In Q2 FY24, the customer franchise increased by 3.58 million.
Assets under management (AUM) grew by 33% to approximately Rs 290,200 crore as of 30 September 2023 as against Rs 218,366 crore as of 30 September 2022. AUM in Q2 FY24 increased around Rs 20,100 crore.
Consolidated net liquidity surplus stood at approximately Rs 11,400 crore as of 30 September 2023. The company's liquidity position remains strong, said the NBFC.
Deposits book stood at around Rs 54,800 crore as of 30 September 2023 as compared to Rs 39,422 crore as of 30 September 2022, recording a YoY growth of 39%.
Earlier, the NBFC had announced that its board will meet on Thursday, 5 October 2023 to consider a proposal for fund raising.
Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.
The non-banking financial company reported 32.38% jump in consolidated net profit to Rs 3,436.89 crore on a 34.62% increase in total income to Rs 12,500.54 crore in Q1 FY24 as compared with Q1 FY23.
Shares of Bajaj Finance were up 0.13% to Rs 7,979.50 on the BSE.
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04-Oct-2023 (09:34) DMart gains after standalone revenue climbs to Rs 12,308 cr in Q2 FY24
The retail chain operator reported standalone revenue of Rs 12,307.72 crore for the quarter ended 30 September 2023, registering the growth of 18.52% as compared with Rs 10,384.66 crore in the quarter ended 30 September 2022.
Avenue Supermarts is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof. As of June 30, 2023, the company had 327 operating stores with retail business area of 13.5 million sq. ft across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.
The company reported 7.8% increase in consolidated net profit to Rs 460.13 crore on 20.57% jump in revenue from operations to Rs 10,594.11 crore in Q4 FY23 over Q4 FY22.
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03-Oct-2023 (16:13) Mahindra Finance disbursements rise 11% YoY in Sept'23
For Q2 FY24, disbursements increased 12.6% YoY to approximately Rs 13,300 crore. For H1 FY24, the disbursement grew 20% YoY approximately to Rs 25,500 crore.
The collection efficiency (CE) was at 97% for September 2023, a marginal improvement over 96% achieved in August 2023. The company recorded a CE of 98% in September 2022.
Healthy disbursement trends during Q2 FY24 together with pre-festival dealer advance have led to business assets at Rs 93,600 crore, growth of around 13% over March 2023 and about 8% over June 2023.
Stage-3 is expected to be at 4.4% as against 4.3% as at June 2023 and Stage-2 estimated at 5.8% from 6.4% as at June 2023, have remained stable.
The company said that it continued to maintain comfortable liquidity position on its balance sheet, with a liquidity chest of over 2.5 months.
Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.
The company's net profit surged 58.2% to Rs 352.66 crore on 25.09% jump in total income to Rs 3,125.41 crore in Q1 FY24 over Q1 FY23.
The scrip fell 0.10% to end at Rs 301 on the BSE.
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03-Oct-2023 (15:04) Granules India gets USFDA approval for hypertension drug
Losartan Potassium and Hydrochlorothiazide tablets are indicated for the treatment of Hypertension to lower blood pressure and reduce the risk of stroke in patients with hypertension and left ventricular hypertrophy. It is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Hyzaar Tablets of Organon LLC.
According to IQVIA July MAT, Losartan and Hydrochlorothiazide tablets is approximately $ 73 Million in U.S.
Currently, Granules has total 60 ANDA approvals from USFDA (58 Final approvals and 2 tentative approvals).
Granules India is a pharmaceutical company, with a presence in more than 80 countries. The company covers the entire pharmaceutical value chain and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC, and HALAL.
The pharmaceuticals company's consolidated net profit tumbled 62.5% to Rs 47.90 crore in Q1 FY24 as against Rs 127.57 crore recorded in Q1 FY23. Revenue from operations in Q1 FY24 was at Rs 985.52 crore, down 3.3% from Rs 1,019.56 crore reported in the same period a year ago.
The scrip rose 0.51% to Rs 356.55 on the BSE.
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03-Oct-2023 (15:00) Johnson Controls-Hitachi Air Condition. India Ltd leads losers in 'A' group
Delta Corp Ltd, Oil & Natural Gas Corpn Ltd, Multi Commodity Exchange of India Ltd and Gujarat Fluorochemicals Ltd are among the other losers in the BSE's 'A' group today, 03 October 2023.
Johnson Controls-Hitachi Air Condition. India Ltd crashed 5.00% to Rs 1160.3 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 2412 shares were traded on the counter so far as against the average daily volumes of 5081 shares in the past one month.
Delta Corp Ltd tumbled 3.92% to Rs 137.1. The stock was the second biggest loser in 'A' group.On the BSE, 9.92 lakh shares were traded on the counter so far as against the average daily volumes of 10.26 lakh shares in the past one month.
Oil & Natural Gas Corpn Ltd lost 3.62% to Rs 184.85. The stock was the third biggest loser in 'A' group.On the BSE, 5.15 lakh shares were traded on the counter so far as against the average daily volumes of 4.98 lakh shares in the past one month.
Multi Commodity Exchange of India Ltd slipped 3.43% to Rs 1978.95. The stock was the fourth biggest loser in 'A' group.On the BSE, 83686 shares were traded on the counter so far as against the average daily volumes of 87274 shares in the past one month.
Gujarat Fluorochemicals Ltd plummeted 3.22% to Rs 2949. The stock was the fifth biggest loser in 'A' group.On the BSE, 5002 shares were traded on the counter so far as against the average daily volumes of 5336 shares in the past one month.
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03-Oct-2023 (14:54) Mahanagar Gas spurts after brokerage upgrade
The foreign broker's latest target price of Rs 1,320 is higher from its previous target of Rs 1,100.
According to the media reports, the broker underlined the company's recent Original Equipment Manufacturer partnerships as a significant factor, implying that these strategic alliances will boost volume growth for Mahanagar Gas. A robust margin visibility is backed by the lower HPHT (High Pressure High Temperature) gas cost coupled with the company's top-tier position in resource allocation.
An optimistic view on the company's future performance has led to an increased estimation for FY24/25 earnings by 6% and 27% respectively. This increase is based on the prediction of higher volume and margin estimates.
Furthermore, the broker highlighted the favorable risk-reward scenario with the current valuation, which stands at 10 times the forward price-to-earnings ratio, is lower than the five-year historical average.
MGL is engaged in the business of City gas distribution (CGD), supplying natural gas in the state of Maharashtra. The company's net profit rose 98.92% to Rs 368.40 crore, while net sales rose 5.71% to Rs 1537.79 crore in Q1 June 2023 over Q1 June 2022.
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03-Oct-2023 (14:48) Kalpataru Projects gains on bagging Rs 1,016-cr orders
The civil construction company received orders worth Rs 552 crore in India and overseas markets in the transmission and distribution (T&D) business. It also received orders in B&F business in India for Rs 424 crore.
Manish Mohnot, MD & CEO, KPIL, said, ?The order winsin the T&D business helps usto further diversify our clientele and strengthen our order book particularly in the domestic T&D market. The orders in the B&F business from marquee clients reaffirms our confidence in the strong growth of thissegment. With the above orders, our YTD FY24 order inflows stand at around Rs 8,400 crore and additionally we have a strong L1 position, which gives us confidence to deliver on growth targets going forward.?
Further, the company raised Rs 150 crore by allotment of 15,000 NCDs of the face value of Rs 1 lakh each on private placement basis. The said NCDs will be listed on Wholesale Debt Market Segment of Bombay Stock Exchange (BSE).
Kalpataru Projects International (formerly known as Kalpataru Power Transmission) is a leading player in the domestic transmission and distribution (T&D) sector. The company undertakes turnkey contracts for setting up transmission lines and substations for extra-high-voltage power transmission. Over the years, it has diversified into civil contracts, railways, and oil and gas pipeline construction.
The company reported 42% increase in consolidated net profit to Rs 115 crore on 15.3% rise in net sales to Rs 4,241 crore in Q1 FY24 over Q1 FY23.
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03-Oct-2023 (14:45) Creative Eye Ltd leads losers in 'B' group
DCM Ltd, Deccan Health Care Ltd, Vipul Ltd and Heubach Colorants India Ltd are among the other losers in the BSE's 'B' group today, 03 October 2023.
Creative Eye Ltd tumbled 6.41% to Rs 3.65 at 14:30 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 5311 shares were traded on the counter so far as against the average daily volumes of 6578 shares in the past one month.
DCM Ltd lost 6.14% to Rs 91.1. The stock was the second biggest loser in 'B' group.On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 35945 shares in the past one month.
Deccan Health Care Ltd crashed 5.02% to Rs 34.06. The stock was the third biggest loser in 'B' group.On the BSE, 10237 shares were traded on the counter so far as against the average daily volumes of 81132 shares in the past one month.
Vipul Ltd pared 4.97% to Rs 16.25. The stock was the fourth biggest loser in 'B' group.On the BSE, 18570 shares were traded on the counter so far as against the average daily volumes of 33683 shares in the past one month.
Heubach Colorants India Ltd plummeted 4.82% to Rs 440. The stock was the fifth biggest loser in 'B' group.On the BSE, 13598 shares were traded on the counter so far as against the average daily volumes of 11575 shares in the past one month.
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03-Oct-2023 (14:30) Volumes soar at Metro Brands Ltd counter
Kalpataru Projects International Ltd, Mahanagar Gas Ltd, PNB Housing Finance Ltd, Network 18 Media & Investments Ltd are among the other stocks to see a surge in volumes on NSE today, 03 October 2023.
Metro Brands Ltd clocked volume of 31.33 lakh shares by 14:14 IST on NSE, a 19.56 times surge over two-week average daily volume of 1.60 lakh shares. The stock gained 10.38% to Rs.1,243.10. Volumes stood at 2.78 lakh shares in the last session.
Kalpataru Projects International Ltd notched up volume of 16 lakh shares by 14:14 IST on NSE, a 18.31 fold spurt over two-week average daily volume of 87406 shares. The stock rose 3.26% to Rs.652.15. Volumes stood at 46663 shares in the last session.
Mahanagar Gas Ltd saw volume of 37.32 lakh shares by 14:14 IST on NSE, a 13.06 fold spurt over two-week average daily volume of 2.86 lakh shares. The stock increased 7.57% to Rs.1,106.70. Volumes stood at 1.93 lakh shares in the last session.
PNB Housing Finance Ltd recorded volume of 41.68 lakh shares by 14:14 IST on NSE, a 11.24 times surge over two-week average daily volume of 3.71 lakh shares. The stock gained 11.03% to Rs.770.65. Volumes stood at 3.81 lakh shares in the last session.
Network 18 Media & Investments Ltd witnessed volume of 214.34 lakh shares by 14:14 IST on NSE, a 7.22 times surge over two-week average daily volume of 29.68 lakh shares. The stock increased 8.30% to Rs.69.15. Volumes stood at 80.74 lakh shares in the last session.
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03-Oct-2023 (14:17) Man Inds rises after bagging order worth Rs 400 crore from domestic entity
The said order has been received from a domestic customer for supply of various types of pipes. The contract has to be executed within a period of six months.
The total unexecuted order book as on 03 October 2023 stood at approximately Rs 1,600 crore to be executed in 6 months.
Man Industries (India) is engaged in manufacturing & coating of large diameter carbon steel pipes, infrastructure, realty & trading. It caters to domestic and international clients in the oil & gas industry, petrochemicals, water, dredging & fertilizers.
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