Buzzing Stocks: Bharti Airtel, Cipla, Siemens, and More Making Headlines

by | May 16, 2024 | 0 comments

Stocks in the Spotlight: Review the companies making headlines before today’s opening bell on May 15, 2024.

Bharti Airtel:

The net income of India’s second biggest telecoms company dropped by 31.1% to Rs 2,072 crore for the quarter ending March 2024. This drop in the profit was mainly due to a big one-time loss of Rs 2,455.5 crore. Nonetheless, revenues grew by 4.4% to Rs 37,599 crore during this period with impacts of changes in currency rates on Africa partially driving the growth. The company’s EBITDA however rose slightly by 4.2% to Rs 19,590 crore and its ARPUs were raised to Rs 209 from Rs 193 over a similar timespan.

Mahindra and Mahindra:

Mahindra Holdings Ltd., a subsidiary of Mahindra, has agreed to sell off its 30.83% stake in New Delhi Centre for Sight worth INR 425.39 crores to Space Investments and others.

Colgate Palmolive (India):

During the March quarter of 2024, this oral care firm registered an increase of 20.1% in its net profit reaching INR3.798 billion while its revenue increased by10.3% up from INR1389 crores previously reported respectively leading to declaration of regular interim dividend and one time special dividend aggregating INR36 per share.

Shree Cement:

Yet again recorded a net profit rise of just about a fifth at INR6billion whilst sales turnover increases stood at around seven percent as well as five fold expansion in production capacity during that same period.

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Siemens:

Siemens India delivered impressive results with year-on-year growth in terms of profits at current level being approximately seventy percent from that which amounted to INR8 billion last year while earnings before interest & taxes (EBIT) for this period rose up by almost twenty percent amounting thus far to around fifty-seven billion rupees; so far it has announced plans for investing another fifty one crore rupees in expansion projects.

Cipla:

According to sources, the promoter family and Okasa Pharma may sell up to 2.53% of their holdings in Cipla worth about INR 26.37 billion.

Bharti Hexacom:

A strong operating margin performance led to a rise in net profits by 10.2% at this telecommunication company which increased its overall earnings by Rs1.19 on average per call made.

Apollo Tyres:

But due to higher taxes and abnormal losses, the net profit of Apollo Tyres fell by 13.7% or R54 crores.

Infosys:

Infosys will undertake a multiyear partnership with First Abu Dhabi Bank that will see it help the bank improve its IT infrastructure.

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Aadhar Housing Finance:

The firm’s shares are expected to be listed on May 15 at a price of INR315 each.

A number of companies including Oberoi Realty, V-Mart Retail and Radico Khaitan et al other than these have also reported varied growth rates and operational challenges in their financials.

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