JKB Financial Services Ltd.

As on : 19-Oct-2023

Market Commentary - Stock Alert
19-Oct-2023 08:49

Bajaj Auto, Wipro, LTIMindtree, IndusInd Bank in spotlight

Bajaj Auto: Bajaj Auto reported 20.01% jump in standalone net profit to Rs 1,836.14 crore in Q2 FY24 as compared with Rs 1,530 crore in Q2 FY23. Revenue from operations rose 5.63% YoY to Rs 10,777.27 crore in Q2 FY24, underpinned by double digit volume growth, with the sustained buoyancy on the domestic front cushioning the weak, albeit improving exports performance.

Wipro: The IT major's consolidated net profit declined 7.8% to Rs 2,646.3 crore on 1.38% decrease in revenue form operations to Rs 22,515.9 crore in Q2 FY24 over Q1 FY24.

LTIMindtree: The IT major's consolidated net profit rose 0.9% to Rs 1162.3 crore on 2.3% rise in revenue to Rs 8905.4 crore in Q2 FY24 over Q1 FY24.

Persistent Systems: The IT company's consolidated net profit rose 15.1% to Rs 263.2 crore on 3.9% rise in revenue to Rs 2411.6 crore in Q2 FY24 over Q1 FY24.

IndusInd Bank: The private lender's standalone net profit climbed 22.09% to Rs 2,181.47 crore on 26.22% rise in total income to Rs 13,529.53 crore in Q2 FY24 over Q2 FY23.

Mastek: The company announced that it has been awarded a three-year contract from the UK's Government Digital Service (GDS). The three-year contract is valued at ?8.5 million, with options available to extend to a total of five years.

Lemon Tree Hotels: The company has signed a License Agreement for a 72 rooms property in Badrinath, Uttarakhand. The hotel is expected to be operational by FY 2025. This hotel will feature 72 well-appointed rooms, a restaurant and other public areas.

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