 "Stocks to Watch today, Feb 5: Paytm, SBI, TaMo, IndiGo, ZEE, Airtel, VBL")
Stocks to Watch on Monday, February 5th: Equity markets are starting the new week on a tepid note amid escalation in the Red Sea crisis, and concerns over delayed rate cut by the US Federal Reserve.
At 7:35 AM, Gift Nifty futures were down 42 points at 21,909 level.
Meanwhile, globally, key indices across Australia, South Korea, Hong Kong, and China were down up to 2 per cent.
Here's a list of stocks to watch today:
Q3FY24 earnings today: Alembic Pharmaceuticals, Artemis Medicare Services, Ashok Leyland, Aurionpro Solutions, Avanti Feeds, Bajaj Consumer Care, Bajaj Electricals, Banco Products (India), Bharti Airtel, CCL Products, Cholamandalam Financial Holdings, eMudhra, Fusion Micro Finance, GE T&D India, Gulf Oil Lubricants India, Ideaforge Technology, Kansai Nerolac Paints, K.P.R. Mill, Kalyani Steels, Linde India, Man Infraconstruction, Orient Cement, Paradeep Phosphates, Prince Pipes and Fittings, Responsive Industries. Shilchar Technologies, Sun Pharma Advanced Research, Suven Pharmaceuticals, Tata Chemicals, Triveni Turbine, TVS Supply Chain Solutions, Unichem Laboratories, Varun Beverages, Vijaya Diagnostic Centre, VRL Logistics.
State Bank of India: The country's largest lender, reported a net profit of Rs 9,164 crore in the October-December quarter (Q3FY24), down 35.5 per cent from Rs 14,205 crore in the same period of the previous year (Q3FY23), due to a Rs 7,100 crore provision for pension liabilities. Sequentially, the public sector lender’s profit was down by 36.05 per cent.
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Paytm (One97 Communications): The company, which has been under the Reserve Bank of India's line of fire, may react to multiple news reports.
First, a report in the Hindu BusinessLine suggests the company is in exploratory talks with a few interested investors to sell the wallets business, which is housed under Paytm Payments Banl. HDFC Bank and Jio Financial Services are said to be among the forerunners to acquire the same, the report added.
Second, the RBI had reportedly found hundreds of thousands of accounts at the bank created without proper identification. The central bank is concerned some of these accounts may have been used to launder money.
Paytm Payments Bank, however, has clarified that neither the firm nor Vijay Shekhar Sharma, One97 CEO, were under enforcement directorate scrutiny for money laundering.
Third, stock exchanges have revised the circuit limits for Paytm to 10 per cent from 20 per cent, after the stock crashed 36 per cent in two days
Tata Motors: On Friday, the Tata group company reported a 137.5 per cent Y-o-Y jump in consolidated net profit at Rs 7,025 crore for Q3FY24.
Tilaknagar Industries: The Income Tax (I-T) Department has initiated a search at multiple premises / locations of the company, it said in an exchange filing.
"We are fully co-operating with the Income Tax Authorities and are providing them the necessary information, documentation and clarification," it added.
Zee Entertainment Enterprises: The Emergency Arbitrator has denied Sony's application against Zee Entertainment in the Singapore International Arbitration Center.
JSW Energy: JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has secured capacity allocation of 6.5 KTPA for setting up of green hydrogen production facility in the first-ever auction conducted by Solar Energy Corporation of India.
InterGlobe Aviation: The parent of the country's largest airline IndiGo, on Friday, reported a 111 per cent Y-o-Y jump in net profit at Rs 2,998 crore for the quarter ending December 31, 2023.
Eicher Motors: Eicher Trucks and Buses, a division of VE Commercial Vehicles, has announced its entry into the Small Commercial Vehicle (SCV) segment with the Global Unveil of its EVFirst Eicher Truck at Bharat Mobility Global Expo 2024.
KPI Green Energy: A new order of 15 MW for executing solar power project from Aether Industries Limited have been received by KPIG Energia Private Limited, a wholly-owned subsidiary of the company.
Adani Ports: Adani Gangavaram Port has broken its previous records and achieved its highest-ever monthly handling volume of 4 MMT in January 2024. This has surpassed its previous highest monthly cargo of 3.51 MMT which was achieved in June 2023.
Q3FY24 result reactions: Reliance Power, Clean Science and Technology, Mirza International, Affle India, Gujarat Alkalies, GHCL, Bank of India, and UPL.