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Stocks in News today: The share price of South Indian Bank, Himadri Speciality Chemical Ltd, Titagarh Rail Systems, Bajaj Auto, Cochin Shipyard and are in news on October 17, 2024 (Thursday).
Stocks in News on October 17, 2024: Bajaj Auto, South Indian Bank, Titagarh Rail Systems, Cochin Shipyard, Himadri Speciality Chemical (Pic: Depositphotos)
Mumbai: The share price of Bajaj Auto, South Indian Bank, Titagarh Rail Systems, Cochin Shipyard and Himadri Speciality Chemical Ltd are in news on October 17, 2024 (Thursday).
Bajaj Auto share price
In the July-September quarterly results of 2024-25, Bajaj Auto recorded a 31-cent year-on-year dip in consolidated profit after tax to Rs 1,385 crore. The automobile major’s total revenue from operations increased to Rs 13,247 crore as compared to Rs 10,838 crore in the second quarter of 2023-24. Total expenses in the second quarter was reported to be higher at Rs 10,767.22 crore as compared to Rs 8,806.47 crore in the same quarter of the previous financial year.
South Indian Bank share price
In its Q2 Results 2024-25, South Indian Bank registered an 18 per cent increase in its net profit to Rs 325 crore. The bank informed that its core net interest income increased 6 per cent to Rs 882 crore on the back of a 13 per cent growth in advances and 0.07 per cent narrowing of the net interest margin to 3.24 per cent.
Titagarh Rail Systems share price
Morgan Stanley on October 16, 2024 purchased shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction. The New York-headquartered Investment banking firm informed the NSE about its deal to buy 7,63,738 shares or 0.57 per cent stake in Kolkata-based Titagarh Rail Systems through its affiliate Morgan Stanley Asia Singapore. Meanwhile, Capital offloaded over 7.90 lakh shares of mobility solution provider Titagarh Rail Systems at an average price of Rs 1,120.12 apiece.
Cochin Shipyard share price
The institutional investors have placed bids worth Rs 1,900 crore for the government’s 5 per cent share sale. The government has offered 59.19 lakh shares, however, institutional buyers placed a bid for 1.28 crore shares at an indicative price of Rs 1,550.13 apiece.
Himadri Speciality Chemical share price
The shares of Himadri Speciality Chemical Ltd are expected to remain in focus today after the company reported a 33 per cent year-on-year jump in net profit to Rs 134 crore in its second quarterly results of Q2FY’25. The chemical company informed that its revenue in Q2 of 2024-25 stood at Rs 1,135 crore, reflecting a 13 per cent increase compared to Rs 1,005 crore in the second quarter of 2023-24. EBITDA increased 29.1 per cent to Rs 201 crore during the quarter.
“Our balance sheet continues to remain strong with a positive cash balance of Rs 255 crore. Our strategic focus on profitability and a prudent balance sheet has contributed to better performance,” CMD and CEO of Himadri Speciality Chemical Ltd, Anurag Choudhary, said.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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