JKB Financial Services Ltd.

As on : 28-Jul-2023

Market Commentary - Stock Alert
28-Jul-2023 08:42

Indus Towers, Bharat Electronics, JK Lakshmi Cement in focus

Indus Towers: The company's consolidated net profit jumped 182% to Rs 1348 crore in Q1 FY24 as against Rs 477 crore posted in Q4 FY23. Revenue rose 3% to Rs 7076 crore in Q1 FY24 from Rs 6897 crore recorded in Q4 FY23.

Bharat Electronics: The company's consolidated net profit rose to Rs 538.6 crore in Q1 FY24 as against Rs 366.33 crore posted in Q4 FY23. Total income rose to Rs 3673.17 crore in Q1 FY24 from Rs 3140.61 crore recorded in Q4 FY23.

JK Lakshmi Cement: The company's consolidated net profit dropped to Rs 79.79 crore in Q1 FY24 as against Rs 115.07 crore posted in Q4 FY23. Net sales rose to Rs 1730.25 crore in Q1 FY24 from Rs 1654.14 crore recorded in Q4 FY23.

Lupin: Pharma major Lupin announced that it has received correspondence from the US FDA that it has now addressed the concerns raised in the Warning Letter for its facilities in Goa and Pithampur Unit-2, Indore. This is after the satisfactory evaluation of the corrective actions taken by the company in response to the Warning Letter that was issued on 6 November 2017.

IRFC, RITES: Indian Railway Finance Corporation Ltd. (IRFC), has signed a Memorandum of Understanding (MoU) with RITES to strengthen cooperation in financing & development of Railway Infrastructure Projects.

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