Business Standard

Stocks to Watch today, Feb 7: Nykaa, ONGC, UPL, Britannia, Biocon, Paytm

Stocks to Watch on Wednesday, February 7, 2024: The parent company of Nykaa nearly doubled its consolidated net profit to Rs 16.2 crore during Q3FY24


Nikita Vashisht New Delhi
Stocks to Watch on Wednesday, February 7th: Domestic benchmarks may start with a positive gap on Wednesday amid supportive global cues.

At 7:35 AM, Gift Nifty futures were up 144 points at 22,124 levels.

Globally, Kospi surged 1.7 per cent, Hang Seng 1.3 per cent, ASX200 0.7 per cent, and Shanghai Composite 0.2 per cent.

Nikkei was the only index in red, down 0.22 per cent.


Overnight, the S&P 500 index gained 0.23 per cent amid healthy quarterly earnings.

The Nasdaq Composite inched up 0.07 per cent, while the Dow Jones Industrial Average jumped 0.37 per cent.

Here's a list of stocks to watch today:

Q3FY24 earnings today: Companies scheduled to report their December quarter results on Wednesday include - Aarti Pharmalabs, AIA Engineering, Apollo Tyres, Ashoka Buildcon, Aditya Vision, Borosil Renewables, Cummins India, Dreamfolks Services, Electronics Mart India

EPL, FDC, Gujarat Fluorochemicals, Fortis Healthcare, First Source Solution, General Insurance Corporation of India, Guajarat Industries Power, GMR Power and Urban Infra, Gujarat Narmada Valley Fertilizers & Chemicals, HBL Power Systems

Hemisphere Properties India, HMT, India Pesticides, Jamna Auto Industries, JK Paper, Kalpataru Projects International, Lupin, Manappuram Finance, Navneet Education, Nestle India, Nocil, PDS, Piccadily Agro Industries, Power Grid Corporation of India

Protean eGov Technologies, Religare Enterprises, Safari Industries (India), Sanghvi Movers, Shivalik Bimetal Controls, Shalby, Sobha, Solar Industries India, Star Cement, Tata Consumer Products, Trent, UNO Minda, andVarroc Engineering.

Paytm: Paytm founder, Vijay Shekhar Sharma, met with Union Finance Minister Nirmala Sitharaman on Tuesday and discussed the ongoing issue of the company, ANI reported.

He also held talks with the Reserve Bank of India (RBI) to discuss regulatory concerns and know if the company can transfer its wallet business and electronic toll collection system FASTag, Business Standard reported.

Kotak Mahindra Bank: The Competition Commission of India (CCI) has approved Zurich Insurance Company's proposed 70 per cent stake purchase in Kotak Mahindra General Insurance Company. 

ZIC will acquire a majority stake in the Kotak Mahindra General Insurance Company from Kotak Mahindra Bank.

Britannia Industries: Its consolidated net profit fell 40 per cent year-on-year to Rs 556 crore in Q3FY24. Revenue from operations was up 1 per cent Y-o-Y to Rs 4,256 crore.

Zee Entertainment: The National Company Law Tribunal's Mumbai bench has issued a notice on Zee Entertainment's plea seeking the implementation of merger with Sony Pictures' India arm. The tribunal will take up the case on March 12.

UPL: Moody's Investor Service has downgraded its senior unsecured rating (BA1 from BAA3) for UPL Corporation as well as the rating on the company's long-term junior subordinated bonds (BA3 from BA2).

PB Fintech: The income tax authorities may soon begin assessment proceedings against online insurance aggregator PB Fintech, the parent company that houses online marketplaces Policybazaar and Paisabazaar, which has been under the scanner for regulatory lapses and KYC non-compliance, reports suggest. The stcok cracked 6 per cent on Tuesday.

Max Financial Services: Insurance regulator, Irdai, has approved capital infusion worth Rs 1,612 crore by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI.

FSN e-Commerce Ventures: The parent company of Nykaa nearly doubled its consolidated net profit to Rs 16.2 crore during Q3FY24.

ONGC: ONGC has signed a Cooperation Agreement with TotalEnergies to carry out methane emissions detection and measurement campaigns using TotalEnergies' pioneer AUSEA (Airborne Ultralight Spectrometer for Environmental Applications) technology.

KRBL, LT Foods: Shares of rice manufacturers such as LT Foods, KRBL, Chaman Lal Setia, Kohinoor Foods, and GRM Overseas, may react to the the government's decision to launch 'Bharat Rice' where it will distribute rice at a subsidised rate of Rs 29 per kilogram in a bid to provide relief to consumers amid a 15 per cent rise in retail prices of the grain in the last one year.

Sun Pharmaceutical Industries: A subsidiary company, with the name Sun Pharma Middle East FZ-LLC (UAE), has been set
up as a wholly-owned subsidiary of Sun Pharma (Netherlands) B.V., another subsidiary of the company to expand the business in UAE.

Navin Fluorine: Company has approved capex of Rs 288 crore.

Quess Corp: Accel-backed Onsitego acquires Quess Corp's Qdigi Services for Rs 80 crore.

Brigade Enterprises: It reported a 29.2 per cent Y-o-Y rise in third-quarter profit at Rs 73.5 crore on consistent demand in its mainstay real estate business. It has approved fund raise worth Rs 1,500 crore.

Biocon: Biocon has tentative approval from USFDA for Dasatinib Tablets, which are used to treat Philadelphia Chromosome Positive Chronic Myeloid Leukemia.

Result reactions: GRM Overseas, Syrma SGS Tech, Sheela Foam, Nazara Technologies, Lemon Tree Hotels, EIH, Redington India, EID Parry, Proctor and Gamble, GSFC.

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First Published: Feb 07 2024 | 8:00 AM IST

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