Stocks to Watch: Axis Bank, TechM, TCS, IRM Energy, Jubilant Foodworks
Axis Bank: Axis Bank Ltd on Wednesday reported a net profit of ₹5,863 crore in the second quarter of FY24 registering a 10% growth from ₹5,329.8 crore in the corresponding quarter of last year. NII during Q2FY24 rose 18.9% to ₹12,314.56 crore from ₹10,360.26 crore YoY. NIM for Q2FY24 was 4.11%, up 1 basis point QOQ and 15 basis points YOY, according to Axis Bank's filing exchange.
For Q2FY24, core operating profit increased by 5% QOQ and 12% YoY to ₹8,733 crores. Tech Mahindra: Tech Mahindra posted a staggering 62% drop in net profit in the September quarter, rounding off what was one of the worst quarters for this industry in the past five years, barring the Covid-disrupted period. Its revenues for the period were at $1.55 billion, down 2.8% sequentially in constant currency terms, while net profit fell 29.3% sequentially, and a whopping 62.5% from a year earlier to $59.5 million.
TCS: Information technology (IT) major Tata Consultancy Services (TCS) has been issued a notice by the Ministry of Labour and Employment of Maharashtra over a complaint of delayed onboarding of “200 lateral recruits", a report by Moneycontrol said on Wednesday. The labour department has issued a notice to TCS officials to meet department officials and discuss the matter on November 2 at the Pune labour department office. IRM Energy: IRM Energy's IPO listing date has been scheduled for Thursday, October 26 on NSE and BSE, as the company has switched to the T+3 listing norm.
Read more on livemint.com
