EIH, Godrej Agrovet, Indian Hotels, City Union Bank: Stocks to watch on Friday
Stocks to watch on Friday, February 2: Indian Hotels posted a consolidated net profit of Rs 476.93 crore against Rs 403.56 crore YoY.
Stocks to watch on Friday, February 2: At 8:11 AM, GIFT Nifty futures traded 151.05 points, or 0.69 per cent, higher at 21,902.5, indicating a positive start for domestic equities today.
Benchmark equity indices ended lower on Thursday when Finance Minister Nirmala Sitharaman presented the Interim Budget 2024. During the trading session on Thursday, investors opted for profit-taking amid mixed cues. After shedding early gains, the markets turned volatile during the presentation of the Interim Budget, where the capital expenditure outlay was marginally hiked, but there were no major announcements.
The 30-share BSE Sensex declined 106.81 points, or 0.15 per cent, to settle at 71,645.30. The Nifty dipped 28.25 points, or 0.13 per cent, to 21,697.45.
Here are some stocks that will be in focus on Friday, February 2.
Results on February 2: Tata Motors, LIC Housing Finance, Torrent Pharma, InterGlobe Aviation, Metropolis Healthcare, Bikaji Foods International, Rategain Travel Technologies, Devyani International, Titagarh Rail Systems, and JSW Infrastructure are some companies that will release their Q3 results.
Indian Hotels: The Tata Group hotel company posted a consolidated net profit of Rs 476.93 crore against Rs 403.56 crore in the year-ago period. The total income for the quarter under review stood at Rs 2,003.64 crore, up from Rs 1743.51 crore a year ago.
Auto stocks: On Thursday, Tata Motors, Ashok Leyland, and other auto companies released their auto sales numbers. Eicher Motors came up with good January sales numbers. The firm registered Royal Enfield sales of 76,187 units, against estimates of 74,000 units. Hero MotoCorp, on the other hand, posted 2-wheeler sales of 4.33 lakh units as against estimates of 4.8 lakh units. Similarly, TVS Motor and Ashok Leyland posted weak sales numbers, with total sales of TVS Motors coming in at 3.4 lakh units as against estimates of 3.46 lakh units.
City Union Bank: The company recorded a consolidated profit for the third quarter (Q3FY24) of Rs 253.03 crore against a profit of Rs 217.84 crore a year ago. The company's total income for the quarter under review stood at Rs 1,519.1 crore against Rs 1,430 crore in Q3 FY23.
Godrej Agrovet: The company recorded a net profit of Rs 82.96 crore for Q3 against Rs 114.59 crore a year ago. The total income of the company stood at Rs 2,353.57 crore for the quarter under review, against Rs 2,401.9 crore in the corresponding quarter of the previous fiscal.
EIH: The company’s subsidiary, Mumtaz Hotels Limited, approved in its board meeting the construction of a luxury resort in Gandikota, Andhra Pradesh.
PB Fintech: Claymore Investments (Mauritius) Pte Ltd. sold 5.4 per cent equity in the firm at an average price of Rs 992.8 per share, BSE bulk deal data shows.
Mphasis: The IT consulting firm posted weak results, with profit declining 4.7 per cent on year, while revenues inched higher by 1.9 per cent on year. The revenue in constant currency (CC) terms, though, registered 1 per cent growth.
Bata: The footwear company posted weak results, with profit declining 30 per cent YoY. Margins at the company also tumbled to 20 per cent versus 22.9 per cent in the same period last year. The company has given the initial nod for the monetisation of freehold industrial land in Faridabad.
Abbott India: The pharma company's results came in better than estimates, with profit soaring 26 per cent on year. Additionally, margins surged to 27 per cent from 23.6 per cent in the same period last year.
(With inputs from agencies.)
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09:27 AM IST