Stocks to Watch: Tata Consumer Products, ICICI Prudential, Tata Elxsi and more
Tata Consumer Products | The company reported a 22.5% year-on-year dip in net profit at ₹267.7 crore for the fourth quarter. In the corresponding quarter, it posted a net profit of ₹345.6 crore. The company’s revenue increased 8.5% to ₹3,926.9 crore as against ₹3,618.7 crore in the corresponding period of the preceding fiscal.ICICI Prudential | The company reported a 26% drop in net profit to ₹174 crore for the quarter ended March 31 on higher expenses. The insurer had a profit of ₹235 crore in the fourth quarter of 2022-23. The insurer’s net premium income rose 17% to ₹14,788 crore in the March quarter compared to ₹12,629 crore in the year-ago period.Tata Elxsi | The Tata Group firm’s net profit dropped 4.6% to ₹196.9 crore on a sequential basis. Tata Elxsi reported a net profit of ₹206.4 crore in the preceding October-December quarter. Tata Elxsi revenue also dropped by a percent on a quarter-on-quarter (QoQ) basis to ₹905.9 crore.Gokaldas Exports | Readymade garment manufacturer and exporter said it has approved a qualified institutional placement (QIP) offering with an issue price of ₹775 per equity share. The QIP, which opened on April 18, garnered significant interest from eligible qualified institutional buyers.IIFL Finance | Non-banking financial company on Tuesday announced the commencement of a special audit as directed by the Reserve Bank of India (RBI). This development follows the RBI’s imposition of an embargo on March 4, 2024, suspending the disbursement of new gold loans by IIFL until the satisfactory completion of the audit.Cyient DLM | Electronic manufacturing services firm reported an 80.2% year-on-year surge in net profit at ₹22.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Cyient DLM posted a net profit of ₹12.6 crore.Nelco | Tata Group satellite services firm reported a 7% year-on-year increase in net profit at ₹6.1 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Nelco posted a net profit of ₹5.7 crore, the company said in a regulatory filing.Rama Steel Tubes | Steel pipes maker said it has decided to raise funds amounting to ₹500 crore through a “further” public offer, following the approval of its board of directors in a meeting held on April 22, 2024. The proposed fundraising, subject to the approval of shareholders and other necessary regulatory clearances.
