JKB Financial Services Ltd.

As on : 19-Jul-2023

Market Commentary - Stock Alert
19-Jul-2023 08:35

SBI, IndusInd Bank, LTTS, Avanti Feeds in spotlight

SBI: The Competent Authority of the bank has approved to set up a new Trustee Company as a Wholly Owned Subsidiary of the bank for managing Corporate Debt Market Development Fund for which SBI Funds Management is identified as the Investment Manager cum Sponsor of the Fund.

IndusInd Bank: The private lender's standalone net profit surged 32.45% to Rs 2,123.62 crore on 27.98% rise in total income to Rs 12,939.42 crore in Q1 FY24 over Q1 FY23. IndusInd Bank's consolidated net profit stood at Rs 2,124.50 crore in quarter ended 30 June 2023 as compared to Rs 1,631.14 core posted in Q1 FY23, registering a growth of 30.25%.

L&T Technology Services (LTTS): The company reported 8.5% fall in consolidated net income to Rs 311.1 crore in Q1 FY24 as against Rs 340.1 crore in Q4 FY23. Revenue fell 2.9% to Rs 2301.4 crore during the quarter from Rs 2370.6 crore posted in Q4 FY23.

L&T Technology Services announced that it has secured a $50 million contract with a global technology company, to enable new opportunities for digital media platforms.

Avanti Feeds: A subsidiary company named Avanti Pet Care was incorporated for manufacturing and trading of pet food & pet care products.

B. L. Kashyap and Sons: The company has secured new order aggregating to Rs. 369 crore approx from DLF Home Developers.

Lemon Tree Hotels: Lemon Tree Hotels announced its latest signing - Lemon Tree Hotel, Gomti Nagar, Lucknow. The property will feature 72 well-appointed rooms, a banquet, meeting rooms, a restaurant, a bar, a fitness center and other public areas.

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