Bajaj Auto records highest ever PAT, revenue in FY24
Shares of Infosys on Thursday closed at Rs 1,420.55 apiece on BSE ahead of its Q4FY24 results
Bajaj Auto share was trading at Rs 9,063.15 at 5:00 pm on Thursday
Stock market highlights on on Thursday, April 18, 2024: In the broader markets, Nifty Midcap ended 0.49 per cent lower at 38,995.70 while Smallcap lost 0.28 per cent, to settle at 16,286.35
Net premium income was Rs 20,488 crore, up 5.4% from Rs 19,426 crore last year
Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.
The gross direct premium income (GDPI) of the insurer was 22% higher at Rs 6,073 crore in Q4 FY24 from Rs 4,977 crore in Q4 FY23
Just Dial Ltd on Wednesday reported a 38.44 per cent rise in consolidated net profit to Rs 115.74 crore in the fourth quarter ended March 31, 2024. The company had posted a consolidated net profit of Rs 83.6 crore in the same period of the previous fiscal, Just Dial Ltd said in a regulatory filing. Its consolidated total income during the quarter under review stood at Rs 361.56 crore compared to Rs 306.69 crore in the year-ago period, it added. The total expenses in the fourth quarter were marginally higher at Rs 214.12 crore compared to Rs 210.94 crore a year ago, the company said. For the fiscal ended March 31, 2024, its consolidated net profit was Rs 362.93 crore, up from Rs 162.72 crore in the previous fiscal, it added. The company's consolidated total income in FY24 stood at Rs 1,348.37 crore against Rs 986.67 crore in FY23.
Tata Communications' consolidated profit declined marginally to Rs 321.55 crore in the fourth quarter ended on March 31, 2024, according to a regulatory filing. The company posted a profit of Rs 326.64 crore in the same period a year ago. The consolidated revenue of Tata Communications during the reported quarter increased by 24.5 per cent to Rs 5,691.7 crore from Rs 4,568.66 crore in the same quarter a year ago. For the year ended on March 31, 2024, net profit declined to Rs 969.58 crore from Rs 1,800.87 crore at the end of 2022-23. The annual income from operations of Tata Communications increased by 17.5 per cent to Rs 20,968.82 crore in fiscal year 2024 from Rs 17,838.26 crore in fiscal year 2023. The company's board approved re-appointment of managing director and CEO A S Lakshminarayanan for a second term starting November 26, 2024 till April 13, 2026.
Largest private sector general insurer ICICI Lombard on Wednesday reported an 18.9 per cent increase in its March quarter net profit at Rs 520 crore. The city-based company had reported a post-tax net profit of Rs 437 crore in the year-ago period. For the fiscal year 2023-24, the company reported an 11 per cent increase in the profit after tax at Rs 1,919 crore, up from Rs 1,729 crore in the year-ago period. The Gross Direct Premium Income grew 22 per cent to Rs 6,073 crore for the reporting quarter, up from Rs 4,977 crore in the year-ago period, it said, adding that it was higher than the 9.5 per cent. The solvency ratio was 2.62 times on March 31, 2024, as against 2.57 times on December 31, 2023, and 2.51 times a year ago.
The company's profit rose to 3.4 billion rupees ($40.7 million) in the quarter, boosted by an increase in trading activity, especially among retail investors
According to brokerages, Infosys is likely to report a revenue increase of 2-4 per cent year-on-year between Rs 38,945 crore to Rs 38,432 crore
Street will look for updates on new energy biz commissioning schedule
Jewellery firms may witness strong growth
TCS reported a 9.1 per cent YoY growth in net profit at Rs 12,434 crore for Q4FY24, while revenue from operations rose by 3.5 per cent.
Stocks to watch on Monday, April 15, 2024: IT shares, led by TCS, are expected to be in focus after the Tata group IT major reported better-than-expected Q4 numbers.
Anarock highlighted that listed cos like Prestige Estates, DLF, Godrej Properties, Sobha, Oberoi Realty have been on a land-buying spree since pandemic amid significant demand for their properties
26% volume growth seen in two-wheelers and 12% in passenger vehicles
India, UK drive IT company's growth in the quarters as US business continues to be subdued
The company announced an interim dividend of Rs 28 per share.