Stocks To Watch: Reliance Industries, Patel Engineering, PSP Projects and more
Reliance Industries | The oil-to-telecom-and-retail conglomerate’s consolidated net profit stood at ₹18,951 crore, or ₹28.01 per share, in January-March quarter of the 2023-24 fiscal compared to ₹19,299 crore, or ₹28.52 a share, a year ago. The profit was, however, higher quarter-on-quarter when compared to ₹17,265 crore in the October-December period.Patel Engineering | The company on Monday said it has launched a qualified institutional placement (QIP) and set a floor price for the QIP at ₹59.50 per share. Sources close to the company revealed that the QIP size is expected to be around ₹400 crore, with an indicative price set at ₹56.53 per share.PSP Projects | The company is planning to launch qualified institutional placement (QIP) to raise ₹244 crore, sources told. The indicative issue price for the QIP has been set at ₹670.00 per share, representing a slight discount to the closing price on the National Stock Exchange (NSE) on April 22, 2024.Tamilnad Mercantile Bank | Private sector lender said its board of directors has recommended a final dividend of ₹10 (100%) per equity share of the face value of ₹10 each for the financial year 2023-24. The bank’s net profit remained unchanged at ₹253 crore for the fourth quarter that ended March 31, 2024.Tejas Networks | Domestic telecom gear-maker reported a net profit of ₹146.8 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Tejas Networks posted a net loss of ₹11.5 crore. The company’s revenue spiked 343.40% to ₹1,326.9 crore as against ₹299.3 crore in the corresponding period of the preceding fiscal.Mahindra Logistics | The company reported a net loss of ₹11.9 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Mahindra posted a net profit of ₹0.20 crore. The company’s revenue increased 14% to ₹1.450.8 crore as against ₹1,272.5 crore in the corresponding period of the preceding fiscal.Rallis India | Agri goods company reported a net loss of ₹21 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Rallis India posted a net loss of ₹69 crore. The company’s revenue from operations tanked 16.6% to ₹436 crore against ₹523 crore in the corresponding period of the preceding fiscal.UltraTech Cement | The company said it has received an order from the Deputy Commissioner, Divisional GST Office (DGSTO), Kalaburagi, Karnataka, demanding payment for GST, interest, and penalties amounting to ₹7.9 crore.HDFC Bank | The bank’s customers in India encountered difficulties accessing net banking services on Monday (April 22). The bank acknowledged the issue in a statement posted on platform X, stating, “A few customers may experience issues while accessing net banking. We’re actively working to resolve this at the earliest.”
