As the stock market opens today, several companies are capturing investor attention due to their recent performances and developments. This article will delve into the stocks to buy and watch, focusing on Tech Mahindra, HDFC Bank, Kotak Mahindra Bank, Jio Financial Services, and others.
Tech Mahindra: A Strong Financial Performance
Tech Mahindra has reported a remarkable increase in its consolidated net profit for the July-September quarter of FY2024-25. The company’s net profit more than doubled to ₹1,250 crore, up from ₹493.9 crore in the same period last year. This impressive growth can be attributed to special income from asset sales and robust performance in the banking, financial services, and insurance (BFSI) segment. The Tech Mahindra share price currently stands at approximately ₹1,688, reflecting a year-to-date increase of 33.73%. Investors should consider this stock as it continues to capitalize on opportunities in expanding markets.
HDFC Bank: Consistent Growth
HDFC Bank has also posted strong results, reporting a standalone net profit of ₹16,821 crore for the July-September quarter of FY2024-25, marking a year-on-year increase of 5.3%. The bank’s net interest income (NII) grew by 10% to ₹30,110 crore during this period. This quarter is significant as it is the first time HDFC’s year-on-year numbers are comparable post-merger with Housing Development Finance Corp in July 2023. With a current share price around ₹1,700, HDFC Bank remains a solid option for investors looking for stability in their portfolios.
Kotak Mahindra Bank: Navigating Challenges
Kotak Mahindra Bank has reported a 5% year-on-year increase in standalone profit after tax (PAT), reaching ₹3,344 crore for Q2 FY2024-25. The bank’s NII rose by 11% to ₹7,020 crore; however, its net interest margin (NIM) narrowed to 4.91%, down from 5.22% in the same period last year. The current Kotak Mahindra Bank share price is approximately ₹2,000. Investors should keep an eye on how the bank addresses these challenges while maintaining profitability.
Jio Financial Services: Robust Operational Growth
Jio Financial Services has delivered strong results for Q2 FY2024-25, with a year-over-year revenue increase of 9.47% and profit rising by 3.13%. Notably, compared to the previous quarter, revenue surged by an impressive 143.39%, while profit grew by 120.41%. This performance underscores the company’s robust operational growth despite market challenges. With its current share price hovering around ₹500, Jio Financial Services presents an appealing investment opportunity.
Indostar Capital Finance: Effective Cost Control
Indostar Capital Finance has reported a significant year-on-year profit increase of 27.9% for Q2 FY2024-25, driven by topline growth of 8.05%. Despite experiencing a quarterly revenue decline of 13.11%, the company managed to boost profits through effective cost-control measures. Investors should monitor this stock closely as it continues to adapt to market conditions.
Mastek: Impressive Growth Momentum
Mastek has showcased impressive financial results with a 13.3% revenue growth and a staggering 104.79% surge in profit for Q2 FY2024-25 on a year-on-year basis. Quarter-on-quarter figures also reflect robust growth momentum with revenue increasing by 6.7% and profit jumping nearly 80%. With its current share price around ₹1,200, Mastek is certainly one of the stocks to watch.
Zee Entertainment Enterprises: Mixed Results
Zee Entertainment Enterprises reported mixed results for Q2 FY2024-25 on October 18, with significant profit growth despite a decline in revenue. Revenue dropped by 17.93% year-over-year; however, profit rose by an impressive 70.3%. This duality makes Zee Entertainment an intriguing stock for investors looking for potential recovery plays.
ICICI Lombard General Insurance: Consistent Growth
ICICI Lombard General Insurance Company posted strong results with revenue increasing by 16.47% year-over-year and profit growing by 20.21% for Q2 FY2024-25. On a quarter-on-quarter basis, revenue rose by nearly 10%, reflecting consistent growth that investors should consider.
L&T Finance: Steady Performance
L&T Finance reported solid financial results with year-over-year revenue growth of 13.62% and profit increasing by 16.88% for Q2 FY2024-25. The company demonstrated its ability to maintain steady growth amid fluctuating market conditions.
Tata Consumer Products: Mixed Operational Performance
Tata Consumer Products reported solid results with a year-over-year revenue increase of 12.87% and a profit rise of 7.74%. However, quarter-on-quarter results showed mixed performance with revenue declining by 3.16%, while profits surged over 25%. This variability makes Tata Consumer an interesting stock to keep on your radar.
Alembic Pharmaceuticals: Regulatory Approval Milestone
Alembic Pharmaceuticals received final approval from the US FDA for its abbreviated new drug application (ANDA) for Diltiazem Hydrochloride extended-release capsules in various strengths—marking an important step for the company’s expansion into the US market.
KPIT Technologies: Upcoming Board Meeting
KPIT Technologies is set to hold a board meeting on October 23 to consider fundraising through equity shares or other financial instruments—a development that investors should keep an eye on as it may signal future growth opportunities.
JM Financial: Positive Regulatory Update
JM Financial received favorable news from the Reserve Bank of India (RBI), which lifted restrictions on its subsidiary JM Financial Products—allowing it to resume financing against shares and debentures after restrictions had been imposed since March 2023.
Garden Reach Shipbuilders & Engineers: New Contract Win
Garden Reach Shipbuilders & Engineers announced securing a letter of intent from the Ministry of Defence for a ₹491 crore contract involving design and development work for an Acoustic Research Ship (ARS)—a significant win that could enhance its order book.
Conclusion
As these companies report their quarterly earnings and navigate various market dynamics, investors should closely monitor their performances and consider potential investment opportunities accordingly.
Disclaimer: Investments in securities markets are subject to market risks; therefore, it’s essential to conduct thorough research or consult with financial advisors before making investment decisions based on this information.
