Stocks to Watch: RIL, Godrej Consumer, Paytm, Tata Chemicals, HDFC Bank
Reliance Industries: Reliance Industries Ltd (RIL) has seen a substantial uptick in incidences of “voluntary separation" in its retail and telecom divisions in 2022-23. Attrition rates rose by 64.8% over FY22, according to the annual reports of the conglomerate. Although the conglomerate spanning oil to telecommunications boosted its hiring efforts, the momentum was lost following its acquisitions as operational redundancies led to duplication of roles across various functions, said three people aware of the development.
As many as 167,391 employees left RIL during FY23. Godrej Consumer Products: Godrej Consumer Products Limited (GCPL) on Monday said its consolidated net profit fell 7.6% at ₹318.82 crore for the April-June quarter of fiscal year 2024 from ₹345.12 crore in the same quarter a year ago. The total revenue in the first quarter stood at ₹3,448.91 crore, 10.36% up from ₹3,124.97 crore in the year-ago period, the company said in an exchange filing.
GCPL's India revenue rose 8.43% at ₹2,005.48 crore during the June quarter from ₹1,849.41 crore a year ago. One 97 Communications: One97 Communications Limited on Monday informed the exchanges that its wholly-owned subsidiary Paytm Payments Services has appointed S.R. Batliboi & Associates as its auditor.
The Statutory Auditors have not raised any concern or issue and in fact, this is aligned with the holding company OCL’s appointment of S.R. Batliboi & Associates as its auditor. Earlier in March, in an exchange filing, the company had informed that it will propose SRB as the new auditors after the completion of the five-year term of their current statutory auditors PwC.
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