Stocks to Watch: TVS Motors, Marico, Tata Motors, Blue Star, BHEL
TVS Motors: TVS Motor Company on 30 October announced its quarterly reports for September 2023 and said its net profit grew 32% at ₹537 crore for Q2 FY2023-24, as against ₹408 crore during Q2 of FY 2022-23. Apart from this, the firm's operating revenue increased by 13% at ₹8,145 crore in the September quarter of FY 2023-24, compared to ₹7,219 crore in Q2 of last year, it said in a stock regulatory filing. Marico: Marico Ltd on October 30 reported a consolidated net profit of ₹360 crore for the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 17.3% as compared to ₹307 crore reported in the year-ago period.
Sequentially, however, the net profit dropped by 17.5% from ₹436 crore reported in the June 2023 quarter. The consumer goods company's revenue from operations dipped marginally as it came in at ₹2,476 crore. Tata Motors: In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over ₹766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal.
The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. BHEL: BHEL's board on Monday approved the induction of Koppu Sadashiv Murthy as Chairman and Managing Director (CMD) of the company. On May 23, BHEL said it received a communication from the Ministry of Heavy Industries, informing that the Appointment Committee of Cabinet (ACC) has approved Murthy's appointment as the CMD.
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