Stocks to Watch: BPCL, Solara Active Pharma, Abbott, Mahanagar Gas and more
BPCL | State-owned company reported a 24.3% quarter-on-quarter increase in net profit at ₹4,789.57 crore for the fourth quarter. For the third quarter, it posted a net profit of ₹3,397.3 crore. CNBC-TV18 poll had predicted a profit of ₹5,460 crore for the quarter under review.Solara Active Pharma | The company approved a rights issue to raise ₹449.95 crore. The rights shares are priced at ₹375 per equity share, which includes a premium of ₹365 per equity share. The shareholders will be entitled to receive one equity share for every three equity shares held by them in the company.Abbott | Drug major reported a 24.1% year-on-year jump in net profit at ₹287.1 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹231.4 crore. The company’s revenue increased 7.1% to ₹1,438.6 crore against ₹1,343.1 crore in the corresponding period of the preceding fiscal.Mahanagar Gas | State-run company reported a 16.5% quarter-on-quarter dip in net profit at ₹265 crore for the fourth quarter that ended March 31, 2024. In the third quarter, it posted a net profit of ₹317 crore. CNBC-TV18 poll had predicted a profit of ₹297 crore for the quarter under review.Suryoday SFB | The bank reported a 56.3% year-on-year jump in net profit at ₹60.8 crore for the fourth quarter. In the corresponding quarter, the bank posted a net profit of ₹38.9 crore. Net interest income increased 28.9%, coming at ₹270.8 crore against ₹210.1 crore in the corresponding quarter of FY23.VST Tillers Tractors | The company reported a 13.4% year-on-year drop in net profit at ₹34.8 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹40.2 crore. The company’s revenue dropped 15.3% to ₹273.4 crore against ₹322.6 crore in the corresponding period of the preceding fiscal.Brigade Enterprises | Realty firm said it has inked an agreement for a prime land parcel located on Old Madras Road, Bengaluru. Spread across 4.6 acres, the total development potential of the residential project will be around 0.69 million square feet with a gross development value of ₹660 crore.Paytm | Fintech firm One97 Communications denied recent media reports suggesting issues with its lending business and termed it “factually incorrect.” The company said it acts as a distributor of loans and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners.
