2 Stocks with HIGHEST Net Profit in Q2 FY24!

  • Stock Market Analysis

It’s been a while since the Q2 FY24 earnings season was over. However, some of you might want to know about which companies are making it big when it comes to the bottom line for a probable addition to a stable portfolio.

In that vein, here are the top 2 highest profit-making firms on the NSE.

Reliance Industries Limited

Without a doubt, Reliance Industries Ltd (NS: RELI ) which has a market capitalization of INR 16,49,304 crore and trades at a TTM P/E ratio of 24.08 has remained at the top spot in the list for a long time. In Q2 FY24, it clocked a net profit of 17,394 crores, a very healthy growth of 27% YoY.

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Although the stock is good at stabilizing the volatility of the portfolio, its growth has remained somewhat subdued and the stock is up a mere 2.2% in the last one year, compared to the Nifty 50 return of 12.8% in the same period. This could also be due to the fact, that the stock is almost trading at it’s fair value of INR 2,545 which is only 3.8% above the MCP of INR 2,453. Hence, value investors might be better off waiting for a dip.

HDFC Bank Limited

HDFC Bank Ltd (NS: HDBK ) is the largest private-sector lender in the counter with a market capitalization of INR 12,32,349 crore. After the merger with HDFC Limited, it has become the highest-weighted stock in the Nifty 50 index, with a weightage of 13.52%. The company was the second-largest profit-making corporation in the country in Q2 FY24, with a net income of INR 16,811 crore.

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This was a massive jump of over 51% from the same period last year, but that is due to the merger with HDFC Limited. Just like Reliance Industries, it has also gone nowhere in the last one year, and remained flat, underperforming the broader markets. However, as per InvestingPro+ financial models, the stock has a decent upside potential of 12.6% to INR 1,837.

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100
  • Mangesh Aakhud @Mangesh Aakhud
    sir bank of baroda plz target
    Like 0
  • Guru KCG @Guru KCG
    In Reliance Industries case, Is 1:1 Jio Financial services shares given to all share holders considered in the returns ( for last one year)indicated in the abv article.?
    Like 0
  • Kochar Bipin @Kochar Bipin
    Hmm - had it not been for the merger, the 2nd position would have gone to SBI with a consolidated Q2 net profit of 16383 cr whose market cap of 546000 cr is a fraction of that of Reliance and HDFC Bank and is less than half of TCS whose Q2 net profit is far lower at just 11,380 cr
    Like 3
  • Krishrajsingh Balla @Krishrajsingh Balla
    invest ment kese kre
    Like 1
    • tas sayyed @tas sayyed
      same to
      Like 0
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      100
  • NIGAM JOGADIA @NIGAM JOGADIA
    THANKS 👍
    Like 0

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