Stocks to watch- Sun Pharmaceutical Industries: The pharmace | Neeraj Joshi
Stocks to watch-
Sun Pharmaceutical Industries: The
pharmaceutical company has agreed to a preferential offer to acquire a 14.28% stake in the Indian Foundation for Quality Management for 12.5 crore. Meanwhile, the US FDA announced that a US-based unit of Sun Pharma is recalling 35,069 bottles of medication used to treat high pressure inside the eye due to glaucoma or other eye diseases.
Apollo Hospitals Enterprises: The company reported a consolidated net profit of ₹253.8 crore for the quarter ended March, a 76% increase from the same period a year ago, driven by reduced losses in its pharmacy, health, and lifestyle segments. It posted revenues of ₹4,944 crore, a 15% year-on-year rise from ₹4,302.2 crore.
Jio Financial Services: The Reliance group company has launched the JioFinance app in beta mode. It integrates digital banking features such as UPI transactions, bill payments, and insurance advisory services, allowing users to manage their accounts and savings on a single platform.
Muthoot Finance: The company reported a 17% increase in consolidated net profit to ₹1,182 crore for the March quarter. Total income rose to ₹4,179 crore from ₹3,298 crore a year ago. Expenditure during the quarter increased to ₹2,594 crore from 1,943 crore.
Tube Investments: A subsidiary of the company, TI Clean Mobility, acquired 5,024 equity shares (23.69% of the share capital) of IPLTech Electric from the founders for 185 crore. This acquisition increased TI Clean Mobility's shareholding in IPLTech from 65.77% to 89.46%.
Sunteck Realty: The real estate company reported a net profit of ₹101.3 crore for the fourth quarter ended March, reversing a net loss of 27.9 crore in the same quarter the previous year. Revenue from operations surged by 773.01% to 426.9 crore. EBITDA reached ₹153.4 crore, compared to a loss of ₹9.1 crore in the previous year.
Suven Pharma: The company reported a significant decline in financial performance for the year, with net profit dropping by 56.9% to 53.4 crore from 124 crore year-over-year. Revenue decreased by 31.5% to ₹252.9 crore. EBITDA fell by 57.4% to 73.3 crore, and the operating margin contracted to 29%.
Aarti Industries: The specialty chemicals company has appointed Suyog Kotecha as chief executive officer (CEO) and executive director, effective 17 June. He succeeded Rajendra V. Gogri who will step down but will continue to serve as CMD.
