Tag: Stocks to buy today

Stocks To Watch Today: The benchmark Sensex and Nifty indices are expected to commence trading on a negative note on February 6, influenced by GIFT Nifty trends indicating a lower start for the broader index, with an anticipated loss of 31.50 points.

Despite an initial surge in opening gains, the Indian equity benchmarks struggled to maintain momentum and concluded lower in a volatile session on February 5. Investors anxiously awaited the outcome of the RBI meeting for insights into potential rate cuts and the trajectory of inflation.

On that day, the Sensex concluded the session with a decline of 354.21 points or 0.49 percent, settling at 71,731.42. Similarly, the Nifty registered a downturn of 82.10 points or 0.38 percent, closing at 21,771.70.

Here’s a slew of stocks that will be in focus on February 6 for various reasons;

• Life Insurance Corporation of India: The government-owned life insurance firm announced that a board meeting is scheduled for February 8 to review the unaudited financial results covering the quarter and nine-month period concluding in December 2023. Additionally, during this meeting, the board might discuss a proposal regarding the declaration of an interim dividend for the fiscal year 2024.
• Tata Consultancy Services: On February 5, the prominent IT services company revealed its selection as a strategic partner by Europ Assistance, a leading global company specialising in assistance and travel insurance. This multi-year collaboration aims to revamp Europ Assistance’s global IT operating model, focusing on improving resilience, scalability, and user experience.
• Bharti Airtel: The telecommunications operator achieved a consolidated net profit of Rs 2,442.2 crore for the quarter ending December in FY24, marking a significant 82.2 percent growth compared to the previous quarter. The profit in Q2 FY24 was adversely affected by an exceptional loss of Rs 1,570.3 crore.
• One 97 Communications (Paytm): The operator of Paytm refuted claims of any investigation or breach of foreign exchange rules involving the company or its affiliate, Paytm Payments Bank. The reports suggesting an investigation are deemed misleading, groundless, and malicious, posing a threat to the interests of all stakeholders associated with the company.
• Adani Total Gas: The Adani Group entity has entered into a mutual support agreement with Inox India (INOXCVA) to enhance the LNG ecosystem in India. As per the agreement, both the company and Inox India will work together to provide LNG and LCNG equipment and services.
• Tata Chemicals: In the quarter ending December in FY24, the Tata Group company disclosed a consolidated profit of Rs 158 crore. This marked a significant decline of 60 percent compared to the corresponding period in the previous year, influenced by both a reduced topline and underwhelming operating figures.
• BSE: The nation’s oldest stock exchange has reported an impressive 109.5 percent year-on-year growth in consolidated profit, reaching Rs 108.2 crore for the quarter concluding in December FY24. Additionally, consolidated revenue from operations experienced a substantial 82.2 percent year-on-year increase, reaching Rs 371.5 crore for the same quarter.
• BLS E-Services: The service provider for business correspondent services is scheduled to make its debut on the stock exchanges on February 6. The conclusive issue price has been determined at Rs. 135 per share.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Stocks To Watch Today: The benchmark indices, Sensex and Nifty, are expected to commence trading lower on February 5, as per indications from GIFT Nifty, projecting a negative start with a decline of 31 points in the broader index.

Following robust gains on February 2, where the Nifty achieved a new peak of 22,126.80 and the Sensex surged by over 1,400 points, the market experienced some retracement from the day’s peak.

The Sensex concluded at 72,085.63, down 440.33 points or 0.61 percent, while the Nifty closed at 21,853.80, down 156.30 points or 0.72 percent.

Here’s a slew of stocks that will be in focus on February 5 for various reasons;

• One 97 Communications (Paytm): Morgan Stanley Asia (Singapore) Pte. Ltd., a foreign institutional investor, has acquired 50 lakh equity shares of Paytm, representing 0.79 percent of the paid-up equity. The purchase was made at an average price of Rs 487.2 per share, resulting in a total valuation of Rs 243.6 crore for the Paytm shares.
• State Bank of India: The standalone profit for the public sector lender in the quarter ending December FY24 has been reported at Rs 9,164 crore. This represents a significant decrease of 35.5 percent compared to the same period last year, primarily attributed to an exceptional loss of Rs 7,100 crore incurred during the quarter. Additionally, provisions and contingencies saw a substantial 88 percent decline, and the pre-provision operating profit decreased by 19.4 percent.
• Zee Entertainment Enterprises: The Singapore International Arbitration Centre (SIAC) has rejected interim relief for Culver Max, the operator of Sony Pictures Networks India, and Bangla Entertainment in response to Zee Entertainment Enterprises’ plea filed before the National Company Law Tribunal (NCLT) for the execution of the merger scheme. According to a regulatory filing, SIAC has concluded that its emergency arbitrator lacks the jurisdiction or authority to restrain the company from approaching the NCLT to carry out the merger scheme. It emphasised that these matters fall within the statutory framework and are to be decided by the NCLT.
• Tata Motors: The Tata Group company has achieved a remarkable 137.5 percent year-on-year growth in consolidated profit, reaching Rs 7,025 crore for the quarter ending December FY24. This substantial increase is attributed to robust operating performance.
• InterGlobe Aviation: The budget airline company has reported a significant 110.7 percent year-on-year growth in profit, totaling Rs 2,998.1 crore for the October–December period of FY24. This impressive result is attributed to a robust top-line and strong operating performance. The revenue from operations during the quarter also saw a substantial 30 percent increase, reaching Rs 19,452 crore compared to the corresponding period in the previous fiscal year.
• LIC Housing Finance: The housing finance company has reported a substantial 142 percent year-on-year surge in net profit, reaching Rs 1,163 crore for the quarter ending December FY24.
• Cochin Shipyard: The government-owned shipping company has secured a contract with the Indian Navy for the medium refits of two naval vessels, valued at Rs 150 crore. The comprehensive contract encompasses dry-docking, refit activities, and the enhancement of equipment on board the ships.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Stocks To Watch Today: The Sensex and Nifty indices are expected to open flat to positive on February 1, with indications from the GIFT Nifty suggesting a solid beginning for the broader index despite a minor setback of 35 points.

BUDGET 2024: Catch all the live action on Budget 2024-25 here

On January 31, both the Sensex and Nifty experienced a one percent surge, driven by widespread buying activities on the eve of the budget and in anticipation of the outcome of the US Federal Reserve meeting.

Closing figures showed that the Sensex gained 612.21 points, or 0.86 percent, reaching 71,752.11, while the Nifty increased by 203.60 points, or 0.95 percent, closing at 21,725.70.

Here’s a slew of stocks that will be in focus on February 1 for various reasons;

• One 97 Communications (Paytm): The Reserve Bank of India has implemented additional measures against Paytm Payments Bank, declaring that, effective from February 29, 2024, customers will be prohibited from making further deposits, engaging in credit transactions, or topping up various accounts such as prepaid instruments, wallets, FASTags, NCMC cards, etc. Exceptions include any interest, cashbacks, or refunds that may be credited at any time.

The termination of the nodal accounts for One97 Communications and Paytm Payments Services is scheduled to occur promptly, with a deadline no later than February 29, 2024. The Reserve Bank of India issued a directive on March 11, 2022, instructing Paytm Payments Bank to cease onboarding new customers immediately.

• Punjab & Sind Bank: The public sector bank recorded a 69.4 percent year-on-year decrease in net profit, amounting to Rs 114.3 crore for the October-December period of FY24. Provisions and contingencies totaled Rs 96.3 crore for the quarter, in contrast to provisions write-back of Rs 207.5 crore. Net interest income witnessed an 8.2 percent year-on-year decline, reaching Rs 739.3 crore, while deposits showed an 8.09 percent growth, and advances rose by 7.5 percent during the same period. There was an improvement in asset quality, with gross NPA decreasing by 53 basis points quarter-on-quarter to 5.7 percent, and net NPA declining by 8 basis points sequentially to 1.80 percent for the quarter.
• Glenmark Pharmaceuticals: Glenmark has collaborated with Pfizer to introduce Abrocitinib in the Indian market. Abrocitinib is prescribed for the management of moderate-to-severe atopic dermatitis.
• Jindal Steel & Power: The firm reported a consolidated profit of Rs 1,928 crore for the quarter ending December in FY24, marking a substantial 272 percent increase compared to the profit of Rs 518 crore in the corresponding period of the previous year. The lower base in Q3 FY23 was attributed to exceptional losses and increased tax costs. Consolidated revenue from operations experienced a 6 percent year-on-year decline, amounting to Rs 11,701.3 crore.
• Mankind Pharma: In the third quarter, revenue increased by 25% to reach Rs 2,606.9 crore, and Ebitda saw a 39% rise, reaching Rs 606.5 crore. The Ebitda margin increased to 23.3% from 20.9% compared to the previous year. Net profit also experienced a 55% growth, reaching Rs 459.8 crore compared to Rs 295.7 crore in the corresponding period last year. The domestic revenue witnessed a 20% increase, reaching Rs 2,400 crore, while export revenue surged by 118% to Rs 207 crore.
• Gujarat Gas: The gas distribution firm has entered into a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation (HPCL). According to the agreement, HPCL will supply liquid fuels, automotive lubricants, greases, and specialties at Gujarat Gas outlets. In reciprocation, Gujarat Gas plans to establish a Compressed Natural Gas (CNG) mother facility at HPCL outlets.
• Dixon Technologies: The electronic manufacturing services firm posted a remarkable 87 percent year-on-year increase in consolidated net profit, amounting to Rs 97 crore for the October-December quarter of FY24. This growth was fueled by a robust topline, even though the operating margin faced weakness due to elevated input costs. The revenue from operations witnessed a substantial 100 percent surge, reaching Rs 4,818.3 crore compared to the corresponding period in the previous year.
• India Pesticides: Quant Mutual Fund and Quant Active Fund divested 5,76,800 equity shares, equivalent to half a percent of the paid-up equity, in the chemical manufacturing company through an open market transaction. The shares were offloaded at an average price of Rs 376.12 per share. As of December 2023, Quant MF maintained a 1.59 percent stake in the company.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Stocks To Watch Today: The benchmark Sensex and Nifty indices are expected to commence trading on a negative note on January 31, as per indications from the GIFT Nifty, suggesting a weak start for the broader index with a marginal gain of 39 points.

On January 30, the Indian equity benchmark retraced a portion of the gains from the preceding session, concluding lower in a session characterised by volatility. This was attributed to selling pressure in heavyweight stocks and sectors such as capital goods, power, and FMCG.

At the closing bell, the Sensex experienced a decline of 801.67 points, equivalent to 1.11 percent, settling at 71,139.90. Simultaneously, the Nifty witnessed a decrease of 215.50 points, or 0.99 percent, concluding the day at 21,522.10.

Here’s a slew of stocks that will be in focus on January 31 for various reasons;

• Larsen & Toubro: The leading infrastructure company has reported a 15% year-on-year increase in its consolidated net profit, reaching Rs 2,947 crore for the quarter ending December in the fiscal year 2024. L&T secured orders totaling Rs 75,990 crore at the group level during the quarter, reflecting a 25% rise compared to the same period last year, driven by robust ordering activity in the Middle East.
• TCS: IT major has announced a 15-year extension of its collaboration with Aviva, the British insurance, wealth, and retirement provider, aimed at strengthening its operations and elevating the overall customer experience.
• Dr Reddy’s Laboratories: The pharmaceutical firm has achieved a 10.6 percent year-on-year increase in its consolidated net profit, amounting to Rs 1,378.9 crore for the October-December period of FY24, even in the face of elevated tax expenses.
• PB Fintech: The entity operating Policybazaar has posted a net profit of Rs 37 crore for the quarter ending December in the fiscal year 2024, in contrast to a net loss of Rs 87 crore in the same period of the preceding fiscal year.
• Zodiac Energy: The firm has engaged in a long-term power purchase agreement (PPA) with Uttar Gujarat VIJ Company (UGVCL) to acquire solar power. The 5.0 MW PPAs constitute a portion of the overall allocated capacity of 26.8 MW granted to Zodiac Energy by UGVCL.
• Voltas: The home appliance company has reported a reduced net loss of Rs 27.6 crore for the quarter ending December in FY24, compared to a loss of Rs 110.5 crore in the corresponding period of the previous year, despite a robust revenue figure affected by rising input costs.
• Astral: The manufacturer of CPVC pipes and fittings has achieved a 19 percent year-on-year increase in net profit, reaching Rs 113.3 crore for the October-December period of FY24. The revenue from operations for the quarter stood at Rs 1,370.2 crore, reflecting an 8.1 percent growth compared to the corresponding period in the previous year.
• Nova Agritech: The producer of soil health and crop protection products is scheduled to list its equity shares on the stock exchanges on January 31. The ultimate issue price has been established at Rs. 41 per share.
• Star Health and Allied Insurance Company: The corporation has reported a net profit of Rs 289.55 crore for the third quarter of FY24, marking a significant surge of 37.6 percent compared to the corresponding period in the previous fiscal year.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Stocks To Watch Today: The benchmark Sensex and Nifty are expected to open with little change on January 30, as indicated by the trends in the GIFT Nifty, suggesting a subdued start for the broader index with a marginal gain of 17 points.

On Monday, Indian equity indices rebounded from the losses of the preceding session, initiating the (Budget) week on a strong note. The benchmark indices surged by nearly 2 percent each on January 29, driven by widespread buying across sectors and robust performances by heavyweight stocks.

At the close, the Sensex witnessed a gain of 1,240.90 points or 1.76 percent, reaching 71,941.57, while the Nifty recorded an increase of 385.00 points or 1.80 percent, concluding at 21,737.60.

Here’s a slew of stocks that will be in focus on January 30 for various reasons;

• Reliance Industries: In November 2023, Reliance Jio, a subsidiary, experienced a growth of 34.47 lakh users, surpassing the 31.59 lakh users added in the preceding month. The wireless broadband service provider reached a total of 455.82 million subscribers by the end of November.
• ITC: The company’s performance in the December quarter showcased a noteworthy 10.75% growth in standalone net profit, totaling Rs 5,572 crore. This result was achieved despite subdued operating metrics, as increased other income and lower tax costs played a significant role.

Regarding standalone revenue from operations, there was a moderate uptick of 1.6%, reaching Rs 16,483.3 crore. This growth was predominantly driven by the robust performance of the cigarette and fast-moving consumer goods (FMCG) segments.

• GAIL (India): The natural gas company has entered into a long-term LNG purchase agreement to acquire approximately 0.5 million metric tonnes per annum (MMTPA) of LNG from ADNOC Gas (Abu Dhabi National Oil Company). As per the terms of the agreement, the deliveries are set to initiate in 2026 and will continue for 10 years, covering various locations across India.
• Bajaj Finance: In the December quarter, the company reported a robust 22% growth in consolidated net profit, amounting to Rs 3,639 crore, despite facing elevated loan losses and provisions. Furthermore, there was a notable 29% year-on-year increase in net interest income for the quarter, reaching Rs 7,655 crore.
• Mahindra Logistics: The logistics company recorded a consolidated net loss of Rs 16.4 crore for the quarter ending December FY24, in contrast to the Rs 1.67 crore profit reported in the corresponding period of the previous fiscal year, primarily due to subpar operating figures. Despite this, revenue from operations exhibited a 5 percent year-over-year growth, reaching Rs 1,397.2 crore for the quarter. Additionally, the company has secured approval from the Investment Committee of the Board of Directors to invest up to Rs 50 crore in its subsidiary, MLL Express Services.
• Bharti Airtel: In November of the previous year, the telecom operator saw an increase of 17.47 lakh subscribers, a significant rise from the 3.5 lakh users added in the preceding month. As of November 2023, the company’s total subscriber base reached 255.07 million.
• Vodafone Idea: The telecom operator reported a net loss of Rs 6,986 crore for the quarter ending December FY24, marking a reduction from the Rs 8,738 crore loss in the preceding quarter, indicating improved margin performance. Despite a 0.4 percent sequential decline, revenue for the quarter amounted to Rs 10,673.1 crore compared to the previous quarter.
• NTPC: The leading power generation company in the country has reported a 2.1 percent year-on-year growth in standalone net profit, reaching Rs 4,572 crore for the quarter ending December FY24. A decline influenced this growth in topline and subpar operating performance. Standalone revenue from operations for the quarter witnessed a 4.7 percent decrease, amounting to Rs 39,455.3 crore compared to the corresponding period in the previous year.
• Epack Durable: The equity shares of the original design manufacturer of room air conditioners are scheduled to be listed on the stock exchanges on January 30. The ultimate issue price has been set at Rs. 230 per share.

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Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.