Patanjali Foods, Power Finance Corporation, RVNL: Stocks to watch on Friday

Stocks to watch on Friday, February 9: At 8:04 AM, GIFT Nifty futures traded 29.1 points, or 0.13 per cent, lower at 21,785.5, indicating a subdued start for domestic equities today.

Benchmark stock indices Sensex and Nifty tanked around 1 per cent on Thursday, dragged by selling in banking and auto shares due to increased uncertainty about the timing of interest rate cuts after the RBI's monetary policy decision.

Erasing all its early gains, the 30-share BSE Sensex fell by 723.57 points or 1 per cent to settle at 71,428.43. The barometer slipped into the red after the announcement of the RBI monetary policy and hit a low of 71,230.62 thereafter, reflecting a loss of 921.38 points or 1.27 per cent. 

The Nifty shed 212.55 points or 0.97 per cent to settle at 21,717.95.

Here are some stocks that will be in the spotlight on Friday, February 9:

Results on February 9: Hero MotoCorp, MRF, Tata Power, Zydus Lifesciences, PI Industries, Alkem Laboratories, Bandhan Bank, Cello World, Centrum Capital, Godrej Industries, Hindustan Motors, Honasa Consumer, Housing & Urban Development Corporation, Indigo Paints, Jubilant Industries, The New India Assurance Company, Sapphire Foods India, Tega Industries, Finolex Cables, Globus Spirits, Kirloskar Industries, Mishra Dhatu Nigam, Paras Defence And Space Technologies, Pfizer, Easy Trip Planners, Inox Green Energy Services, Landmark Cars, Inox Green Energy Services, Inox Wind and Inox Wind Energy are some companies that will release their Q3 results. 

Patanjali Foods: Patanjali Foods Limited (formerly known as Ruchi Soya Industries) reported a 19.6 per cent decline in its net profit, reaching Rs 216.54 crore compared to Rs 269.18 crore in the same period last year. On the other hand, the food and FMCG segment achieved the highest quarterly sales of Rs 2,498.62 crore for the third quarter ended December 31.

Orchid Pharma: The company recorded a net profit of Rs 30.55 crore for Q3 against a profit of Rs 6.73 crore a year ago. The total income of the company stood at Rs 228.03 crore for the quarter under review against Rs 168.69 crore Year-on-Year (YoY).

Power Finance Corporation: State-owned Power Finance Corporation on Thursday posted an over 20 per cent rise in its consolidated net profit to Rs 6,294.44 crore in the December quarter, on the back of higher revenues. The company's consolidated net profit was Rs 5,241.10 crore in the quarter ended December 31, 2022, according to a BSE filing.

RVNL: The company recorded a net profit of Rs 358.57 crore for Q3 against a profit of Rs 382.42 crore a year ago. The total income of the company stood at Rs 5,016.97 crore for the quarter. under review against Rs 5,293 crore YoY. 

Grasim Industries: The company posted mixed Q3 results with revenue increasing 3.3 per cent on year, while profit inched lower by 8 per cent on year during the review period. However, margin climbed to 8.2 per cent during the December quarter.

Aarti Industries: The chemcials company posted weak Q3 results with profit declining 9 per cent on year. Also, margin took a hit during the review period and came in lower at 15 per cent versus 17.3 per cent in the same period last year.

LIC: The largest state-run insurer posted good Q3 show with value of new business (VNB) margin edging higher for LIC. Profit at the country's most trusted insurer increased 49.1 per cent on year as assets under management expanded 12 per cent.

Ramco Cements: The company posted good Q3 performamce but below estimates. Profit at the company grew 39 per cent on year, while margin improved to 18.8 per cent.

United Spirits Limited: The company returned to profitability during the October-December period, nevertheless the earnings for the period came in below estimates. The company's profit during Q3 came in at Rs 85 crore as against loss of Rs 8 crore. 

Biocon: The biotechnology major posted Q3 results below estimates on the back of weak operational performance. Revenue at the company increased 34 per cent on year, while profit for the period stood at Rs 660 crore as against loss of Rs 42 crore in Q3FY23.

Orchid Pharma: The company posted robust Q3 earnings with profit increasing 3.6 times during the period to Rs 29 crore. Furthermore, margin grew to a substantial 16.2 per cent during the period.

Shilpa Medicare: The company posted strong Q3 as it posted a profit of Rs 4.6 crore as against a loss of Rs 6.6 crore during the same period last year. Margins at the firm also came in at 23 per cent versus 11.9 per cent in the same period last year.

BHEL: The company has received an order from HPGCL (Haryana Power Generation Corporation Limited) for setting up the Ultra Super Critical Expansion Unit at DCRTPP
Yamuna Nagar.

Concor/ Ircon International and Vishnu Prakash R Punglia: Shares of these companies will be on radar as the cabinet approved 6 multi-tracking railway project estimated to be worth around Rs 12,343 crore.

(With inputs from agencies.)

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