Bharti Airtel, HUDCO, HDFC Bank, Britannia: Stocks to watch on Tuesday

Stocks to watch on Tuesday, February 6: At 8:15 AM, GIFT Nifty futures traded 9.05 points, or 0.04 per cent, higher at 21,812.5, indicating a muted start for domestic equities today.

Benchmark Sensex fell back by 354 points on Monday due to selling in index major Reliance Industries, Bharti Airtel, and Maruti Suzuki amid weak trends from Asian and European markets. The 30-share BSE Sensex declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on fag-end selling. The Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70.

Here are some stocks that will be in focus on Tuesday, February 6

Results on February 6: Britannia Industries, Chambal Fertilizers & Chemicals, Godrej Properties, Akzo Nobel India, Birla Corporation, E.I.D. Parry (India), EIH, JK Tyre & Industries, Lemon Tree Hotels, Fsn E-commerce Ventures, Procter & Gamble Health, Pnc Infratech, Go Fashion (India), Tata Teleservices (Maharashtra) are some companies that will release their Q3 results on Tuesday. 

HDFC Bank:  The apex bank RBI via its letter dated February 5 has given its nod to the country's leading private-run lender HDFC Bank to acquire  “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank.

Bharti Airtel: Bharti Airtel on Monday posted a 54 per cent jump in its consolidated net profit to Rs 2,442.2 crore in the December quarter. Bharti Airtel had registered a profit of Rs 1,588.2 crore in the year-ago period, the company said on Monday. The consolidated revenue from operations during the third quarter of the ongoing fiscal grew 5.8 per cent to Rs 37,899.5 crore from Rs 35,804.4 crore in the December 2022 quarter.

Pidilite Industries: The company has announced the inauguration of a new state-of-the-art manufacturing facility in Sandila, near Lucknow, for its prominent tile adhesive brand, Roff. 

Power Finance Corporation: The company's board will consider an interim dividend for FY 2023–24 in a meeting on February 8.

HUDCO/PFC: Moody's affirms PFC's and HUDCO's Baa3 ratings following the update of GRI methodology.

ASK Automotive: The company recorded a net profit of Rs 49.94 crore for Q3 against a profit of Rs 29.15 crore a year ago. The total income of the company stood at Rs 763.13 crore for the quarter under review against Rs 639.26 crore YoY. 

Britannia Industries: The company will announce Q3FY24 results on Tuesday. Zee Business analysts expect a 40 per cent decline in consolidated profit after tax (PAT) to Rs 558 crore as against Rs 932 crore logged in the corresponding quarter of the previous fiscal.

Ashok Leyland: The commercial vehicle major posted the best-ever third quarter results with results coming in better on all parameters. Margin at the company, during Q3, expanded to 12 per cent versus 8.8 per cent in the same quarter of the previous year.

Tata Chemicals: The chemicals arm of the Tata Group posted extremely weak results with profit declining 60 per cent on year. The margins at the firm also tumbled to 14.5 per cent during the period under review as against 22.2 per cent in the same period last year. 

GE T&D: The heavy electrical equipment company posted strong performance on all parameters. EBITDA and margin at the company doubled, while profit surged nearly 10 times to Rs 49 crore. The margin at the company also increased to 11.5 percent. 

ideaForge: The drone manufacturing company posted strong Q3 results and turned profitable during the quarter. As against loss of Rs 8 crore in Q3FY23, the company reported a profit of Rs 15 crore. Also, revenues at the company increased 11.8 times.

BSE: The country's oldest exchange posted good performance in Q3 of FY24. Profit at the company increased 2.2 times to Rs 106 crore during the review period.

Zydus Lifesciences: The company's board meeting is slated to take place on February 9 wherein it will consider the proposal of share buyback. 

IEX: The power trading and consulting company in its monthly business update informed that the company achieved the highest-ever total volumes in January 2024, reaching 10,893 million units (MU)– marking a 26.1% year-over-year increase. 

GIC Housing Finance: The housing financier posted weak Q3 results, with net interest income (NII) declining 16.4 per cent on year. Profit at the company also declined a hefty 45.6 per cent on year to Rs 35.6 crore.

(With inputs from agencies.) 

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