Stocks To Watch Today: The Sensex and Nifty indices are anticipated to open flat to constructive on February 1, with indications from the GIFT Nifty suggesting a stable starting for the broader index regardless of a minor setback of 35 factors.
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On January 31, each the Sensex and Nifty skilled a one % surge, pushed by widespread shopping for actions on the eve of the price range and in anticipation of the result of the US Federal Reserve assembly.
Closing figures confirmed that the Sensex gained 612.21 factors, or 0.86 %, reaching 71,752.11, whereas the Nifty elevated by 203.60 factors, or 0.95 %, closing at 21,725.70.
Here’s a slew of shares that might be in deal with February 1 for varied causes;
- One 97 Communications (Paytm): The Reserve Bank of India has applied extra measures towards Paytm Payments Bank, declaring that, efficient from February 29, 2024, prospects might be prohibited from making additional deposits, participating in credit score transactions, or topping up varied accounts resembling pay as you go devices, wallets, FASTags, NCMC playing cards, and so on. Exceptions embrace any curiosity, cashbacks, or refunds that could be credited at any time.
The termination of the nodal accounts for One97 Communications and Paytm Payments Services is scheduled to happen promptly, with a deadline no later than February 29, 2024. The Reserve Bank of India issued a directive on March 11, 2022, instructing Paytm Payments Bank to stop onboarding new prospects instantly.
- Punjab & Sind Bank: The public sector financial institution recorded a 69.4 % 12 months-on-12 months lower in web revenue, amounting to Rs 114.3 crore for the October-December interval of FY24. Provisions and contingencies totaled Rs 96.3 crore for the quarter, in distinction to provisions write-again of Rs 207.5 crore. Net curiosity earnings witnessed an 8.2 % 12 months-on-12 months decline, reaching Rs 739.3 crore, whereas deposits confirmed an 8.09 % progress, and advances rose by 7.5 % throughout the identical interval. There was an enchancment in asset high quality, with gross NPA reducing by 53 foundation factors quarter-on-quarter to five.7 %, and web NPA declining by 8 foundation factors sequentially to 1.80 % for the quarter.
- Glenmark Pharmaceuticals: Glenmark has collaborated with Pfizer to introduce Abrocitinib within the Indian market. Abrocitinib is prescribed for the administration of average-to-extreme atopic dermatitis.
- Jindal Steel & Power: The agency reported a consolidated revenue of Rs 1,928 crore for the quarter ending December in FY24, marking a considerable 272 % enhance in comparison with the revenue of Rs 518 crore within the corresponding interval of the earlier 12 months. The decrease base in Q3 FY23 was attributed to distinctive losses and elevated tax prices. Consolidated income from operations skilled a 6 % 12 months-on-12 months decline, amounting to Rs 11,701.3 crore.
- Mankind Pharma: In the third quarter, income elevated by 25% to achieve Rs 2,606.9 crore, and Ebitda noticed a 39% rise, reaching Rs 606.5 crore. The Ebitda margin elevated to 23.3% from 20.9% in comparison with the earlier 12 months. Net revenue additionally skilled a 55% progress, reaching Rs 459.8 crore in comparison with Rs 295.7 crore within the corresponding interval final 12 months. The home income witnessed a 20% enhance, reaching Rs 2,400 crore, whereas export income surged by 118% to Rs 207 crore.
- Gujarat Gas: The gasoline distribution agency has entered right into a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation (HPCL). According to the settlement, HPCL will provide liquid fuels, automotive lubricants, greases, and specialties at Gujarat Gas retailers. In reciprocation, Gujarat Gas plans to determine a Compressed Natural Gas (CNG) mom facility at HPCL retailers.
- Dixon Technologies: The digital manufacturing companies agency posted a outstanding 87 % 12 months-on-12 months enhance in consolidated web revenue, amounting to Rs 97 crore for the October-December quarter of FY24. This progress was fueled by a strong topline, regardless that the working margin confronted weak point attributable to elevated enter prices. The income from operations witnessed a considerable one hundred pc surge, reaching Rs 4,818.3 crore in comparison with the corresponding interval within the earlier 12 months.
- India Pesticides: Quant Mutual Fund and Quant Active Fund divested 5,76,800 fairness shares, equal to half a % of the paid-up fairness, within the chemical manufacturing firm by an open market transaction. The shares had been offloaded at a median value of Rs 376.12 per share. As of December 2023, Quant MF maintained a 1.59 % stake within the firm.
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