Stocks to Watch: Nestle, Tata Chemicals, Spandana Sphoorty, Poonawalla Fincorp and more
Nestle India | The company is testing a zero-sugar variant for infant food in the country. Sharing this during an exclusive interaction with CNBC-TV18, chairman and MD Suresh Narayanan emphasised the company is compliant with the law of the land and has provided samples to the Food Safety and Standards Authority of India (FSSAI).Tata Chemicals | The company reported a consolidated net loss of ₹850 crore in the quarter ended March 31, compared to a profit of ₹709 crore. The loss is its first quarterly loss in nine years owing to a one-time write-down incurred in its UK operations along with lower prices and demand for soda ash.Spandana Sphoorty | Microfinance lender reported a 5.2% year-on-year (YoY) increase in net profit at ₹122.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Spandana Sphoorty Financial posted a net profit of ₹116.2 crore.Poonawalla Fincorp | Non-bank lender reported an 83.6% year-on-year jump in net profit at ₹331.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Poonawalla Fincorp posted a net profit of ₹180.7 crore, the company said in a regulatory filing.Jana Small Finance Bank | Bengaluru-based lender reported a 297.5% year-on-year rise in net profit at ₹321.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Jana Small Finance Bank posted a net profit of ₹81 crore, the lender said in a regulatory filing.KEC International | Engineering firm said it has secured new orders totalling ₹1,036 crore across its diverse business verticals. The Transmission & Distribution (T&D) segment secured orders for T&D projects in the Middle East and Americas regions.RVNL | The company said it has received a letter of acceptance from Southern Railway for the Redevelopment of Thiruvananthapuram Central Railway Station on EPC mode. The project cost is ₹439.95 crore. RVNL has a 49% share in the JV, while partner Kerala Rail Development Corporation will have a 51% share.Gillette | Shaving products maker reported a 3.5% year-on-year dip in net profit at ₹99.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Gillette posted a net profit of ₹102.7 crore, the company said in a regulatory filing.Shoppers Stop | Retail chain reported a 62.3% year-on-year jump in net profit at ₹23.2 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Shoppers Stop posted a net profit of ₹14.3 crore, the company said in a regulatory filing.
