Stocks To Watch Today: Know a slew of stocks that will be in focus on January 31 for various reasons.
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Stocks To Watch Today: The benchmark Sensex and Nifty indices are expected to commence trading on a negative note on January 31, as per indications from the GIFT Nifty, suggesting a weak start for the broader index with a marginal gain of 39 points.
On January 30, the Indian equity benchmark retraced a portion of the gains from the preceding session, concluding lower in a session characterised by volatility. This was attributed to selling pressure in heavyweight stocks and sectors such as capital goods, power, and FMCG.
At the closing bell, the Sensex experienced a decline of 801.67 points, equivalent to 1.11 percent, settling at 71,139.90. Simultaneously, the Nifty witnessed a decrease of 215.50 points, or 0.99 percent, concluding the day at 21,522.10.
Here’s a slew of stocks that will be in focus on January 31 for various reasons;
Larsen & Toubro: The leading infrastructure company has reported a 15% year-on-year increase in its consolidated net profit, reaching Rs 2,947 crore for the quarter ending December in the fiscal year 2024. L&T secured orders totaling Rs 75,990 crore at the group level during the quarter, reflecting a 25% rise compared to the same period last year, driven by robust ordering activity in the Middle East.
TCS: IT major has announced a 15-year extension of its collaboration with Aviva, the British insurance, wealth, and retirement provider, aimed at strengthening its operations and elevating the overall customer experience.
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Dr Reddy’s Laboratories: The pharmaceutical firm has achieved a 10.6 percent year-on-year increase in its consolidated net profit, amounting to Rs 1,378.9 crore for the October-December period of FY24, even in the face of elevated tax expenses.
PB Fintech: The entity operating Policybazaar has posted a net profit of Rs 37 crore for the quarter ending December in the fiscal year 2024, in contrast to a net loss of Rs 87 crore in the same period of the preceding fiscal year.
Zodiac Energy: The firm has engaged in a long-term power purchase agreement (PPA) with Uttar Gujarat VIJ Company (UGVCL) to acquire solar power. The 5.0 MW PPAs constitute a portion of the overall allocated capacity of 26.8 MW granted to Zodiac Energy by UGVCL.
Voltas: The home appliance company has reported a reduced net loss of Rs 27.6 crore for the quarter ending December in FY24, compared to a loss of Rs 110.5 crore in the corresponding period of the previous year, despite a robust revenue figure affected by rising input costs.
Astral: The manufacturer of CPVC pipes and fittings has achieved a 19 percent year-on-year increase in net profit, reaching Rs 113.3 crore for the October-December period of FY24. The revenue from operations for the quarter stood at Rs 1,370.2 crore, reflecting an 8.1 percent growth compared to the corresponding period in the previous year.
Nova Agritech: The producer of soil health and crop protection products is scheduled to list its equity shares on the stock exchanges on January 31. The ultimate issue price has been established at Rs. 41 per share.
Star Health and Allied Insurance Company: The corporation has reported a net profit of Rs 289.55 crore for the third quarter of FY24, marking a significant surge of 37.6 percent compared to the corresponding period in the previous fiscal year.
