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HDFC Bank Q3 profit jumps, L&T bags mega order & more

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Stock Buzz


⭐ HDFC Bank Q3 profit jumps

HDFC Bank reported a 33.5% year-on-year (YoY) surge in its net profit to ₹16,372 crore in Q3 FY24. The net interest income (NII) increased 23.9% to ₹28,470 crore in the same quarter. The lender’s gross non-performing assets (NPA) stand at 1.26%, up marginally from 1.23% in the same period last year. Meanwhile, its total deposits jumped by 27.7% to ₹28.47 lakh crore in this quarter. Shares of HDFC Bank closed 0.3% higher today, but the results were declared after market hours.

⭐ Larsen & Toubro bags mega construction order

Shares of the engineering and construction company closed 0.9% higher today. This was after the company’s railway construction division secured an order worth in the range of ₹10,000 to ₹15,000 crore from a Japanese agency. The project involves construction of an electrification system for the Mumbai-Ahmedabad bullet train project.

⭐ PNC Infratech rises on project stake sale

Shares of the road infrastructure company closed 5% higher today. This came after the company and its subsidiary PNC Infra Holdings sold their stake in various projects to Highways Infrastructure Trust for ₹9,005.7 crore. The assets include 11 national highway projects and 1 state highway toll project in UP, MP, Karnataka and Rajasthan. Ten of these projects are operational, while two are under construction.

⭐ NBCC India wins construction orders

The construction services provider has announced that it has secured five project management orders worth ₹138.95 crore for construction projects in Jharkhand and Delhi. The contracts were secured from Navodaya Vidyalaya Samiti and the Insolvency and Bankruptcy Board of India. Despite these order wins, the shares of the company closed 2.1% lower today.


IPO Corner

The Medi Assist Healthcare IPO received an overall subscription of 1.1 times on the second day of the bidding, with the retail segment being subscribed 1.6 times. To know more and apply click here.


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