Manappuram Finance, Tata Consumer Products, IGL: Stocks to watch on Thursday

Stocks to watch on Thursday, February 8: At 7:48 AM, GIFT Nifty futures traded 47.3 points, or 0.22 per cent, higher at 22,051, indicating a positive start for domestic equities today.

Benchmark stock indices Sensex and Nifty closed flat in a volatile trade on Wednesday as investors stayed on the sidelines ahead of the Reserve Bank of India's (RBI) interest rate decision on Thursday. The 30-share BSE Sensex declined 34.09 points or 0.05 per cent to settle at 72,152. The Nifty ended marginally up by 1.10 points or 0.01 per cent to 21,930.50.

Here are some stocks that will be in the spotlight on Thursday, February 8:

Results on February 8: Apollo Hospital Enterprise, Grasim Industries, Aarti Industries, Biocon, Escorts Kubota, Page Industries, The Ramco Cements, United Breweries, Balrampur Chinni Mills, Power Finance Corporation, AstraZeneca Pharma India, BEML, Healthcare Global Enterprises, Max India, NCC, Patanjali Foods, Ramco Industries, Rail Vikas Nigam, Siyaram Silk Mills, Suryoday Small Finance Bank, Thermax, Zydus Wellness, Bombay Dyeing & Mfg, IRCON International, JK Lakshmi Cement, Life Insurance Corporation of India, Global Health, Orient Paper & Industries, Zomato, Aster DM Healthcare, DCX Systems,and Orchid Pharma are some companies that will release their Q3 results on Thursday. 

Manappuram Finance: Manappuram Finance, a player in the non-banking financial sector, reported a 46.2 per cent increase in its net profit, reaching Rs 575.3 crore in the December quarter compared to Rs 393.5 crore in the same quarter last year. The net interest income for Q3 rose 33 per cent to Rs 1,452 crore as opposed to Rs 1,092 crore in the corresponding period of the previous year.

The NBFC declared an interim dividend of 90 paise per equity share.

Tata Consumer Products: The company recorded a net profit of Rs 278.9 crore for Q3 against a profit of Rs 351.76 crore a year ago. The total income of the company stood at Rs 3,863.51 crore for the quarter under review against Rs 3,523.48 crore YoY. 

Sobha: The company posted a consolidated net profit of Rs 15.08 crore in the December quarter. The company had registered a profit of Rs 31.81 crore in a year-ago period. The consolidated total income during the third quarter of the ongoing fiscal stood at Rs 713.75 crore from Rs 897.98 crore in the December 2022 quarter.

Indraprastha Gas: The company signed a Memorandum of Understanding (MOU) with two technology partners during India Energy Week 2024 to establish Compressed Biogas (CBG) plants across four states: Delhi, Haryana, Rajasthan, and Uttar Pradesh.

Piramal Pharma: The US Food and Drugs Administration (USFDA) conducted a Pre-Approval Inspection (PAI) of Piramal Pharma Limited's Riverview (USA) facility from January 29, 2024, to February 6, 2024. At the conclusion of the inspection, a Form-483 was issued with three observations. 

Power Grid Corporation of India (PGCIL): The company posted good Q3 performance with profit inching 10.5 per cent on year. Profit margin at the utility major came in higher at 88.4 per cent versus 87.9 per cent during the same period last year.

Lupin: The pharma major posted good Q3 performance across all metrics. Profit during the review period increased 4 times to Rs 613 crore, while margin soared to 20 per cent. 

Cummins: The industrial machinery entity posted good Q3 results with profit edging higher by 26.3 per cent on year, while revenues also grew higher by 16.2 per cent year-on-year.

Gujarat Narmada Valley Fertilisers (GNFC): The company posted weak results with profit declining a substantial 70 per cent on year, while profit margin eroded sharply and came in at 4 per cent in the December quarter. 

Apollo Tyres: The tyres company posted strong operational performance during October-December period of the ongoing fiscal year. The company's domestic as well as Europe business performed well with profit margin inching higher to 18.3 per cent on year.

Mangalore Chemcials and Paradeep Phosphates: The two companies from the fertilizer space will be in focus after their board approved the merger of Mangalore Chemicals  into and with Paradeep Phosphates, marking a strategic move of consolidation for both the companies. 

Mankind Pharma: Promoters will dilute 1.62 per cent stake in the firm valued at around Rs 1330 crore via a block deal. 

KEC International: The company has secured a new order worth Rs 1175 crore across its various businesses.

SJVN: The power generation firm has received a letter of intent from GUVNL for a project with an initial cost pegged at around Rs 1100 crore.

(With inputs from agencies.) 

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