Cochin Shipyard, Dixon Tech, Paytm, JSPL, Shree Cement: Stocks to watch on Thursday

Stocks to watch on Thursday, February 1: At 8:20 AM, GIFT Nifty futures traded 12.6 points, or 0.06 per cent, lower at 21,796, indicating a subdued start for domestic equities today.

Equity benchmark indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. In order to derive further cues, investors are eyeing the two important events lined up ahead— the interim budget, which will be presented at 11 a.m. on Thursday, and the US Fed interest rate decision. 

Recovering all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11. The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70.

Here are some stocks that will be in focus on Thursday, February 1:

Results on February 1: Aditya Birla Capital, Bata India, Mphasis, City Union Bank, Dr Lal Path Labs, Five-star Business Finance, Gujarat Alkalies & Chemicals, Pricol, Raymond, Rites, Texmaco Rail & Engineering, Welspun Enterprises, Jupiter Wagons, Praj Industries, and Allcargo Terminals are some companies that will release their Q3 results. 

Paytm: The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others, after February 29, 2024.

Shree Cement: The company recorded a consolidated profit for the third quarter (Q3FY24) of Rs 701.85 crore against a profit of Rs 281.83 crore a year ago. The company's revenue from operations for the quarter under review stood at Rs 52,23.18 crore against Rs 42,99.26 crore year-on-year (YoY).

Ajanta Pharma: The pharma company recorded a net profit of Rs 210.03 crore for Q3 against Rs 134.51 crore a year ago. The total income of the company stood at Rs 1,118.74 crore for the quarter under review against Rs 1,006.7 crore YoY. 

Dixon Technologies: The company recorded a consolidated profit for the quarter that ended on December 31 at Rs 97.07 crore against Rs 51.89 crore a year ago. 

Cochin Shipyard: The company received an order from a European client for the design and construction of a hybrid Service Operation Vessel (SOV). The total project cost for the firm order is approximately Rs. 500 crore, and the vessel is to be delivered in 2026.

Muthoot Finance: In a meeting on February 14, the company's board will consider fundraising as well as financial results for the quarter that ended on December 31.

GCPL/ Godrej Consumer Products: The company posted the best Q3 results within the FMCG sector, with volumes registering 8 per cent on year growth in the October-December period. Revenues at the company grew 2 per cent on year, while profit surged 6 per cent during the review period. Margins at the company also reported an increase and came in at 23 per cent.

Jindal Steel and Power Limited (JSPL): The iron and steel company reported strong Q3 results with profit climbing 3.7 times YoY, revenues however declined 6 per cent. Besides, the margin at the company also grew to 24.2 per cent as against 19 per cent in Q3FY23.

GMR Airports Infra: The company during the December quarter posted a loss of Rs 317.5 crore as against a profit of Rs 191.4 crore reported in the corresponding period a year ago. This is despite an increase in revenue of 26.4 per cent on year. 

Paytm:  Taking a stringent measure against Paytm Payments Bank, the RBI on Wednesday banned the addition of new customers at the payments bank. New deposits and top ups will also be banned with effect from March 1. On the development, Paytm said this step will impact the company's EBITDA by Rs 300- 500 crore.

Indus Towers: A block deal worth Rs 3,800 crore is expected in the counter today through which US private equity player KKR as well as Canadian pension fund Canada Pension Plan Investment Board ( CPPIB) will sell their stake in the entity.

Religare Enterprises: The Burman family bought 4.1% stake in the firm in the open market on January 31, with their stake now increased to 25.18 per cent from 21.18 per cent.

Cochin Shipyard: The company has bagged an order from an European Client, for the design and construction of hybrid Service Operation Vessel (SOV). The total project cost for the order is approximately Rs. 500 crores and the vessel is to be delivered in 2026.

H.G. Infra: The company has been declared as the lowest bidder for a Rs 447.11 crore project from the South Central Railway. 

 

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