Stocks To Watch Today: L&T, Bharti Airtel, IOCL, GAIL, Adani Total Gas & More

On 1st November, some of the trending stocks will be GAIL, IOCL, Adani Total Gas, L&T, and Tata Consumer Products which are likely to be in focus today by market observers.

Larsen & Toubro (L&T)

L&T said on Tuesday that, in comparison to the same period of the previous fiscal, its net profit had grown by 45% to Rs 3,222 crore from Rs 2,228 crore. In Q2FY24, L&T saw a 19 per cent rise in consolidated revenue to Rs 51,024 crore, up from Rs 42,763 crore recorded in the same quarter of the previous fiscal year. In comparison to 11.4 per cent in Q2FY23 and 10.2 per cent in the June 2023 quarter, its operating margin for the second quarter of FY2023-24 was 11 per cent.

Bharti Airtel

The consolidated net profit for the quarter that ended in September, as reported by Bharti Airtel on October 31, was Rs 1,340.7 crore, which is a drop of 37.50 per cent from Rs 2,145.2 crore during the same quarter of the previous fiscal year. The telecom services provider reported that its revenue from operations jumped by 7.28 per cent to Rs 37,043.8 crore from Rs 34,526.8 crore in Q2FY23. According to the company announcement, the company's EBITDA climbed 10.96 per cent to Rs 19,665 crore during the quarter under review from Rs 17,721.2 crore in Q2FY23. The average revenue per user (ARPU) for its Indian business increased to Rs 203 per month, a quarter-on-quarter jump of 1.5 per cent.

IOCL

The state-run Indian Oil Corporation Ltd. (IOCL) saw a stunning comeback in the second quarter of FY24 (July-September), as its consolidated net profit skyrocketed to Rs 13,713 crore, recovering from a net loss of Rs 910 crore in the same period last year. An interim dividend of Rs 5 has been released by Indian Oil for each equity share with a face value of Rs 10. Compared to Rs 2,21,145.42 crore in the same quarter previous year, Indian Oil Corporation's revenue from operations during the July-September quarter plummeted 11% to Rs 2,02,312.04 crore.

GAIL

The state-owned natural gas firm GAIL (India) announced on Tuesday a 70.3% increase in its standalone net profit for the September quarter, coming in at Rs 2,404.89 crore as opposed to Rs 1,412 crore the previous quarter. The company's net profit for the second quarter of FY24 climbed 36% on a consolidated basis to Rs 2,442 crore from Rs 1,793 crore in the quarter that ended in June 2023. In the second quarter of FY24, the company's standalone revenue from operations plunged by 1.25% to Rs 31,822.62 crore from Rs 32,227.47 crore in Q1FY24. Q2FY24 saw a 43.5% growth in GAIL's earnings before interest, tax, depreciation, and amortization (EBITDA) to Rs 3,492 crore from Rs 2,433 crore in Q1FY24.

Adani Total Gas

Adani Total Gas Ltd. announced on Tuesday a rise of 20% in net profit for the September quarter due to a spike in CNG sales. The company claimed in a statement that its net profit for the July-September quarter of Rs 168 crore was 20% more than its net profit for the comparable period of the previous year, which was Rs 139 crore. While piped gas supply dropped 3% to 75 mmscm, CNG sales climbed 20% to 113 million standard cubic metres.

Tata Consumer Products

On October 31, Tata Consumer Products Ltd. (TCPL) revealed a consolidated net profit for the September quarter of FY24 of Rs 359.18 crore, up 1.18 per cent from Rs 354.98 crore in the same quarter of the previous fiscal year. The company's total revenue was Rs 3733.78 crore in Q2FY24, up 11.02 per cent from Rs 3363.05 crore in Q2FY23. Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped by 30% to Rs 569 crore for the quarter under review.

Mankind Pharma

Mankind Pharma reported on Tuesday that, for the second quarter that ended on September 30, 2023, its consolidated net profit climbed by 21% to Rs 511 crore, up from Rs 422 crore during the same period of the previous fiscal year. Mankind Pharma stated in a regulatory filing that its revenue from operations jumped to Rs 2,708 crore during the period under review from Rs 2,425 crore in Q2FY23.

Jindal Steel & Power

In a regulatory statement on Tuesday, Jindal Steel & Power Ltd (JSPL) revealed a 534% year-on-year rise in its consolidated net profit to Rs 1,390 crore in the September quarter, as opposed to a net profit of Rs 219.27 crore PAT in the same period last year. However, the company's total revenue dropped from Rs 13,521.88 crore in Q2FY23 to Rs 12,282.04 crore in Q2FY24, while its expenses decreased from Rs 12,569.10 crore in the year-ago quarter to Rs 10,897.52 crore during the quarter under review.

DCB Bank

On Tuesday, DCB Bank announced a rise of 13 per cent in net profit for the September quarter, to Rs 127 crore, compared to Rs 112 crore in the same quarter last fiscal year. According to a regulatory filing from DCB Bank, total income climbed to Rs 1,413 crore in the second quarter of the current fiscal year from Rs 1,099 crore in Q2FY23. The bank's net interest income jumped from Rs 411 crore in Q2FY23 to Rs 476 crore during the quarter under review.