JKB Financial Services Ltd.

As on : 19-Apr-2024

Market Commentary - Stock Alert
19-Apr-2024 08:59

Infosys, Bajaj Auto, RVNL, Indus Towers in spotlight

Infosys: The IT major's consolidated net profit jumped 30.51% to Rs 7,969 crore in Q4 FY24 from Rs 6,106 crore in Q3 FY24. Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24. In terms of guidance, the company has revised its FY25 revenue guidance to 1%-3% in constant currency and operating margin guidance at 20%-22%.

Bajaj Auto: The auto major?s standalone net profit jumped 35.11% to Rs 1,936 crore on 28.97% rise in revenue from operations to Rs 11,484.68 crore in Q4 FY24 over Q4 FY23.

SJVN: SJVN said that its wholly owned subsidiary, SJVN Green Energy has incorporated a joint venture company with Assam Power Distribution Company named, SGEL Assam Renewable Energy.

RVNL: RVNL has signed MoU with Turkish Engineering Consulting & Contracting - TUMAS India Private Limited for partnership and collaboration in public transportation projects and infrastructure projects in India.

Housing and Urban Development Corporation Limited (HUDCO): HUDCO said that Department of Public Enterprises (OPE) has granted the Navratna Status to the company.

Indus Towers: NTPC Green Energy Limited (NGEL) and Indus Towers signed a Memorandum of Understanding (MoU), to address the need for pacing green energy objectives and the GoI?s efforts towards carbon neutral economy. The MoU is to explore a joint development of grid connected Renewable Energy based Power Projects including Solar, Wind, Energy storage etc. and/or solutions thereof.

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