Stocks To Watch: Know a slew of stocks that will be in focus on February 6 for various reasons.
Stocks To Watch Today: The benchmark Sensex and Nifty indices are expected to commence trading on a negative note on February 6, influenced by GIFT Nifty trends indicating a lower start for the broader index, with an anticipated loss of 31.50 points.
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Despite an initial surge in opening gains, the Indian equity benchmarks struggled to maintain momentum and concluded lower in a volatile session on February 5. Investors anxiously awaited the outcome of the RBI meeting for insights into potential rate cuts and the trajectory of inflation.
On that day, the Sensex concluded the session with a decline of 354.21 points or 0.49 percent, settling at 71,731.42. Similarly, the Nifty registered a downturn of 82.10 points or 0.38 percent, closing at 21,771.70.
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Here’s a slew of stocks that will be in focus on February 6 for various reasons;
- Life Insurance Corporation of India: The government-owned life insurance firm announced that a board meeting is scheduled for February 8 to review the unaudited financial results covering the quarter and nine-month period concluding in December 2023. Additionally, during this meeting, the board might discuss a proposal regarding the declaration of an interim dividend for the fiscal year 2024.
- Tata Consultancy Services: On February 5, the prominent IT services company revealed its selection as a strategic partner by Europ Assistance, a leading global company specialising in assistance and travel insurance. This multi-year collaboration aims to revamp Europ Assistance’s global IT operating model, focusing on improving resilience, scalability, and user experience.
- Bharti Airtel: The telecommunications operator achieved a consolidated net profit of Rs 2,442.2 crore for the quarter ending December in FY24, marking a significant 82.2 percent growth compared to the previous quarter. The profit in Q2 FY24 was adversely affected by an exceptional loss of Rs 1,570.3 crore.
- One 97 Communications (Paytm): The operator of Paytm refuted claims of any investigation or breach of foreign exchange rules involving the company or its affiliate, Paytm Payments Bank. The reports suggesting an investigation are deemed misleading, groundless, and malicious, posing a threat to the interests of all stakeholders associated with the company. Read More: Aplex Solar IPO: Check Latest GMP, Price Band, Allotment Date And Other Details
- Adani Total Gas: The Adani Group entity has entered into a mutual support agreement with Inox India (INOXCVA) to enhance the LNG ecosystem in India. As per the agreement, both the company and Inox India will work together to provide LNG and LCNG equipment and services.
- Tata Chemicals: In the quarter ending December in FY24, the Tata Group company disclosed a consolidated profit of Rs 158 crore. This marked a significant decline of 60 percent compared to the corresponding period in the previous year, influenced by both a reduced topline and underwhelming operating figures.
- BSE: The nation’s oldest stock exchange has reported an impressive 109.5 percent year-on-year growth in consolidated profit, reaching Rs 108.2 crore for the quarter concluding in December FY24. Additionally, consolidated revenue from operations experienced a substantial 82.2 percent year-on-year increase, reaching Rs 371.5 crore for the same quarter.
- BLS E-Services: The service provider for business correspondent services is scheduled to make its debut on the stock exchanges on February 6. The conclusive issue price has been determined at Rs. 135 per share.
DISCLAIMER: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.
