Stocks to Watch: TCS, NTPC, Bank of India, IDFC First, Vedanta, Marico
TCS: Tata Consultancy Services (TCS) has announced a change in senior management positions (SMP). TCS executive vice-president K Ananth Krishnan will no more remain in SMP due to his upcoming retirement. As per the exchange filing, TCS informed that Ananth Krishnan will be no longer in SMP from 31st of July 2023 due to his retirement falling in October 2023.
The Tata Group company went on to add that chief services innovation officer Dr Harrick Vin will take over as an SMP from August 1, 2023. NTPC: NTPC announced its April-June quarter results for fiscal 2023-23 reporting a rise of 23% in consolidated net profit at ₹4,907 crore, compared to ₹3,977.7 crore in the corresponding period last year. The state-owned power generator's revenue from operations in the first quarter of the current fiscal stood at ₹43,075.09 crore, marginally lower compared to ₹43,177.14 crore in the year-ago period.
The total income of the company during the June quarter stood at ₹43,390 crore compared to ₹43,561 crore in the year-ago period. Bank of India: State-owned Bank of India reported its Q1FY23 results today. The net profit doubled for the June quarter.
In Q1FY23, the company reported significant growth in various key financial metrics. Net Profit surged by an impressive 176% year-on-year (YoY) to reach Rs. 1,551 Crores.
Operating Profit also displayed substantial growth, increasing by 72% YoY to Rs. 3,752 Crores. The Net Interest Income saw a substantial rise of 45% YoY, amounting to Rs.
5,915 Crores. Moreover, the Net Interest Margin (NIM) on a global scale showed improvement, increasing by 49 basis points (bps) YoY. Vedanta: Billionaire Anil Agarwal said his Vedanta group will invest $5 billion in the first phase of setting up a
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