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As on : 09-Nov-2023

Market Commentary - Stock Alert
09-Nov-2023 08:40

Biocon, Tata Power, Pidilite, Bhel in focus

Biocon, Eris Lifesciences: Biocon Biologics Limited (BBL), a subsidiary of Biocon, announced that it has entered into a definitive agreement with Eris Lifesciences for the divesture of its Dermatology and Nephrology branded formulations business units in India that mostly comprised of its legacy small molecules? brands. The transaction is a ?Slump Sale? that will enable a seamless transfer of the product brands and employees associated with these businesses. Total transaction value of the divestment is Rs 366 crore.

Tata Power Company: The company reported 9% rise in consolidated net profit to Rs 1017 crore on 9% rise in revenue to Rs 15442 crore in Q2 FY24 over Q2 FY23.

Pidilite Industries: The company reported 36% rise in consolidated net profit to Rs 459 crore on 2% rise in net sales to Rs 3065 crore in Q2 FY24 over Q2 FY23.

Bhel: The company posted a net loss of Rs 233 crore in in Q2 FY24 as against a profit of Rs 10 crore in Q2 FY23. Revenue from operations rose slightly to Rs 5,125 crore from Rs 5,203 crore in Q2 FY23.

United Spirits: The company reported consolidated net profit of Rs 339.3 crore in Q2 FY24 as compared to net profit of Rs 547.7 crore in Q2 FY23. Total income dropped to Rs 6776.6 crore in Q2 FY24 from Rs 8290.3 crore in Q2 FY23.

Oil India: The company reported consolidated net profit of Rs 640.36 crore in Q2 FY24 as compared to net profit of Rs 2115.83 crore in Q2 FY23. Total income dropped to Rs 9200.11 crore in Q2 FY24 from Rs 10463.87 crore in Q2 FY23.

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