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Stocks to watch: Shares of firms like ITC, Swiggy, SBI, Britannia, IndiGo, LIC, Airtel, and others will be in focus on Thursday’s trade
Stocks to watch on February 6
Stocks to Watch on February 6, 2024: After a recent rally, domestic markets paused on Wednesday, ending slightly lower. Today, stocks of ITC, SBI, Airtel, Swiggy, Azad Engineering, and more will be in focus due to various news updates and third-quarter results.
SBI, ITC, Airtel, Britannia, Trent, Hero MotoCorp
Shares of SBI, ITC, Airtel, Britannia, Trent and Hero MotoCorp will be in focus as the companies will announce their quarterly results today.
Swiggy
Swiggy reported a widening of losses in Q3, reaching Rs 800 crore for the period ending December 2024. Its revenue from operations stood at Rs 3,993 crore.
Adani Wilmar
Adani Wilmar is set to rebrand and increase its focus on food and FMCG after the exit of the Adani Group from its joint venture by the end of FY25. CEO & MD Angshu Mallick stated that the company will be renamed AWL Agri Business following a shareholder vote.
Happiest Minds Technologies
Happiest Minds is experiencing improved demand for IT services, particularly in deal renewals, driven by optimism after the U.S. elections. The company is hopeful of achieving near 30% revenue growth in FY25.
IDBI Bank
IDBI Bank may raise interest rates on non-callable deposits by 10 to 25 basis points, if the proposed liquidity coverage ratio (LCR) regulations come into effect on April 1, according to Business Standard.
InterGlobe Aviation (IndiGo)
GST authorities have imposed penalties totaling Rs 115.86 crore on IndiGo. The penalty stems from issues related to services provided to offshore recipients, which were not considered as “export of services” for FY18 to FY20, as well as denied input tax credit.
Religare Enterprises
Religare Enterprises announced that its independent director, Hamid Ahmed, has resigned from the board. Ahmed, CEO of Hamdard Laboratories India’s Foods Division, stepped down on February 4.
LIC
Life Insurance Corporation of India (LIC) has received a demand notice of about Rs 105.42 crore for short payment of GST spanning seven financial years. The demand also includes interest and penalties for several states as of February 5.
P C Jeweller
P C Jeweller reported a consolidated net profit of Rs 147.96 crore for Q3 FY25, compared to a net loss of Rs 197.98 crore in the same period last year. Total income surged to Rs 683.44 crore from Rs 43.48 crore.
Welspun Corp
Welspun Corp posted a more than two-fold increase in net profit, rising to Rs 672.19 crore in Q3 FY25, driven by lower expenses. However, total income fell to Rs 3,656.57 crore, down from Rs 4,758.17 crore in Q3 FY24.
Kansai Nerolac Paints
Kansai Nerolac Paints reported a significant 341.4% jump in net profit to Rs 680.9 crore for Q3 FY25, boosted by a one-time profit from the sale of land in Lower Parel, Mumbai. Revenue rose by 0.2% to Rs 1,921.9 crore.
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