M&M, Oil India, Wipro, Ipca Labs, IRCTC, Lemon Tree Hotels: Stocks to watch on Wednesday

Stocks to watch on Wednesday, February 14: At 8:47 AM, GIFT Nifty futures traded 179.15 points, or 0.82 per cent, lower at 21,644, indicating a negative start for domestic equities today.

Benchmark Sensex spurted by 483 points while broader Nifty closed above the 21,700 level on Tuesday on buying in banking, financial services, and IT sector stocks as easing retail inflation boosted investor sentiment.

The 30-share BSE Sensex surged 482.70 points, or 0.68 per cent to settle at 71,555.19, while the broader NSE Nifty soared 127.20 points, or 0.59 per cent, to close at 21,743.25, with 39 of its components ending in the green and 11 in the red.

Here are some stocks in the limelight on Wednesday, February 14.

Results on February 14: Mahindra & Mahindra, Aditya Birla Fashion and Retail, Crompton Greaves Consumer Electricals, Glenmark Pharma, IPCA Laboratories, Muthoot Finance, NMDC, and Sun TV Network are some companies that will release their Q3 results. 

Oil India: The company recorded a net profit of Rs 1,584.28 crore in Q3 against Rs 1,746.10 crore year-on-year (YoY), a decline of 9.3 per cent. The net profit for the second quarter stood at Rs 325.31 crore. The total income of the company stood at Rs 6,323.02 crore for the quarter ended December 31, compared to Rs 5,981.63 crore a year ago. In the quarter ended September 30, the total income stood at Rs 6622.55 crore. 

Wipro: The IT firm invested in Aggne, a leading consulting and managed services company serving the insurance and insurtech industries. The combined capabilities of Wipro and Aggne will help deliver enhanced value, faster speed-to-market, and differentiated services to clients in the property and casualty sectors.

Lemon Tree Hotels: The company signed a licence agreement for an upcoming hotel in Noida. This opening will be in addition to six existing and four upcoming properties in the UP.

NALCO: The company posted strong Q3 results, with profit increasing 79 per cent on year. The margin at the company also soared to a decent 23 per cent in the October-December quarter.

IRCTC: The railway ticketing major came up with in-line results for the December quarter. Profit at the company increased 17.4 per cent on year, while margins took a hit by a marginal 30 basis points to 35.2 per cent.

Hindustan Copper: The copper company posted weak results for Q3. Profit at the company declined 21 per cent on the year. The margin at the company grew to 26.7 per cent versus 20.5 per cent in the same period last year. 

Gujarat Gas: The company posted a weak Q3 with profit declining 26 per cent year-on-year. The company's margin also declined to 10.2 per cent.

Deepak Nitrite: The company posted mixed results, with the margin inching lower to 15.2 per cent in the December quarter of the ongoing fiscal year.

Manappuram Finance: SEBI has not given its go-ahead to the IPO of Asirwad Micro Finance.

BEL, Railtel, and Vishnu Prakash: BEL has bagged two orders worth around Rs 2282 crore. Railtel Corporation has also secured an order from Prasar Bharati Broadcasting. The order value is estimated at Rs 139.73 crore. Vishnu Prakash has received a LoA from MRVCL for the Chikhloli Suburban Railway Station.

Wipro: The IT company on Tuesday said it will acquire US-based insurtech firm Aggne Global Inc. and its Hyderabad-based affiliate Aggne Global IT Services for $66 million.

(With inputs from agencies.) 

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