Tech Mahindra, Mazagon Dock, Bajaj Auto: Stocks to watch on Thursday

Stocks to watch on Thursday, January 25: At 8:20 AM, GIFT Nifty futures traded 34.6 points, or 0.16 per cent, lower at 21,443, indicating a negative start for domestic equities today.

Domestic blue-chip indices Nifty50 and Sensex sawsawed in a wide range around the flatline amid choppy trade on Wednesday before settling with gains of around one per cent each. Amid this, IT, oil and gas, and FMCG shares powered a stunning intraday recovery on Dalal Street as select heavyweights such as Axis Bank, ICICI Bank, and Asian Paints played spoilsport.

Investors awaited more large-cap earnings from India Inc. for domestic cues amid positive signals from global markets, where investors pinned hopes on positive tech results.

The Nifty index ended 215.2 points higher at 21,454, and the Sensex settled with a gain of 689.8 points at 71,060.3.

Here are some stocks that will be in focus on Thursday, January 25.

Results today: Indraprastha Gas, ACC, Indian Energy Exchange, SBI Cards and Payment Services, Hindustan Petroleum Corporation,  Punjab National Bank, Vedanta, Aeroflex Industries, Cyient, Equitas Small Finance Bank, Intellect Design, Ion Exchange, Prudent Corporate Advsiory Services, SBFC Finance, Tata Technologies, Associated Alcohol & Breweries, Vedant Fashions, AU Small Finance Bank, and Adani Power, among others, will unveil their Q3 results today.

Tech Mahindra: The IT company posted a consolidated net profit of Rs 523.7 crore against Rs 1285.3 crore year-on-year (YoY) basis. The net profit for the September quarter stood at Rs 505.3 crore.

Bajaj Auto: The company reported a net profit of Rs 2,032.62 crore against Rs 1,472.7 crore YoY. The revenue from operations stood at Rs 11,892.1 crore, up from Rs 9,050.58 crore a year ago. Margins at the company grew to 20.1 per cent from 19.1 per cent in the same period last year. Amid a strong outlook, Jefferies has maintained its 'buy' call with a target raised to Rs 9000 from Rs 8400 earlier.

Tata Steel: The company posted strong operational performance, with Indian business operating strongly, while European business remains a concern. The margins in Q3 increased to 11.3 per cent versus 7 per cent YoY. The company's PAT for the quarter under review stood at Rs 513 crore, versus a loss of Rs 2224 crore in Q3 FY23.

CONCOR: The company's Q3 results came in line with the estimates. Profit at the firm grew 12.8 per cent on year, while revenue also edged higher by 11 per cent on year. The company approved the third dividend of Rs 4 per share.

PNB Housing Finance: The housing finance company reported a net profit of Rs 338.44 crore for the third quarter of the financial year (FY) 2023–24, against Rs 269.13 crore recorded in Q3 FY23.

Birlasoft Ltd: The firm reported a net profit of Rs 161.06 crore for the quarter that ended December 31 against a loss of Rs 16.361 crore YoY. The consolidated profit for the September quarter stood at Rs 145.08 crore.

Aarti Drugs: The company recorded a net profit of Rs 36.71 crore for the third quarter ended December 31, 2023, against Rs 36.67 crore a year ago. Revenue from operations for the quarter under review stood at Rs 605.94 crore, against Rs 663.96 crore YoY.

Dalmia Bharat: The company reported a consolidated net profit of Rs 266 crore for the October-December period as against Rs 214 crore for the corresponding quarter a year ago. Margins, however, at 21.5 per cent, were weaker than estimates.

DLF: The real estate company reported a consolidated net profit of Rs 395.92 crore in the third quarter ended on December 31, 2023, against Rs 366.95 crore in the October-December quarter of 2022. The company recorded the highest-ever quarterly pre-sales of Rs 9047 crore. Simultaneously, the company came up with strong guidance for FY25.

Balkrishna Industries: The company posted a good Q3 performance, but it was lower than Street estimates. Profit for the period under revenue came in at Rs 309 crore. The margin grew to 23.7 per cent versus 12 per cent YoY.

TVS Motors: The 2-wheeler major posted good Q3 performance, with profit beating street estimates. However, revenue came in lower in comparison to estimates. Profit at the firm grew 68 per cent yearly, while revenue increased 26 per cent YoY.

Birlasoft: The company's Q3 results were good on all parameters. The company's margin for Q3 increased to 14.4 per cent as against estimates of 13.6 per cent. Global brokerage Nomura has raised its target from Rs 840 to Rs 950.

Mazagon Dock Shipbuilders: The company signed a contract with the acquisition wing of the Ministry of Defence for the construction and delivery of 14 Fast Patrol ‘Vessels (FPVs) for the Indian Coast Guard (ICG).

Q3 FY24 results to be announced:

Ashok Leyland: The automotive company's board will consider Q3 FY24 financial results on February 5.

(With input from agencies.)

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