Stocks to Watch today, Feb 9: LIC, Zomato, Airtel, Paytm, Hero Moto, ZEE (2024)

Stocks to Watch on Friday, February 9th: Domestic markets will focus on December quarter results and bond yield movement amid thin trade across Asia on Friday.

Japan’s Nikkei hit fresh 34-year highs on Friday, rising 1 per cent in early trade.

China, South Korea, and Taiwan’s markets will be shut, while Singapore and Hong Kong will see half day of trading due to Lunar New Year holiday.

At 7:45 AM, Gift Nifty futures were down 51 points at 21,764 levels.

Overnight, the S&P 500 finished 0.06 per cent higher on Thursday after briefly topping the 5,000 milestone for the first time on record.

The Dow Jones Industrial Average rose 0.13 per cent, while the Nasdaq Composite gained 0.24 per cent.

Here’s a list of stocks to watch today:

Life Insurance Corporation: LIC of India reported a 49.10 per cent year-on- year (Y-o-Y) growth in net profit during the October-December period of financial year 2023-24 (FY-24), reaching Rs 9,444.42 crore.

The state-owned life insurer reported a net premium income of Rs 1.17 trillion in Q3 of FY24, a 4.6 per cent year-Y-o-Y increase.

JSW Steel: The company and Japan-baser JFE Steel Corporation have been allotted equity shares of JSW Electrical Steel Pvt Ltd at par after receipt of necessary regulatory approvals for the joint venture.

Post this allotment, the company and JFE hold 5 million equity shares in JSWESPL. Consequently, JSWESPL has ceased to be a subsidiary of the company and is now a 50:50 joint venture between JSW Steel and JFE.

Zomato: The food delivery aggregator reported a consolidated net profit of Rs 138 crore for Q3FY24, beating analysts’ estimate of Rs Rs 90.98 crore, as per LSEG data.

Also Read : Rupee depriciates 5 paise to 83.01 against US dollar in early trade

It had reported a net loss of Rs 347 crore a year earlier. Total revenue jumped 69 per cent to Rs 3,288 crore.

JK Lakshmi Cement: The cement manufacturer’s profit increased 93.9 per cent Y-o-Y to Rs 150.2 crore in the October-December quarter. The company’s board also declared an interim dividend of Rs 21 per share for FY24. The record date for the same is set at February, 21.

Besides, the board also approved fundraising through long-term loans or issue of debt securities up to an amount of Rs 2,500 crore. Lastly, it’s chairman Bharat Hari Singhania has resigned.

Zee Entertainment: Market regulator Sebi has asked several guest experts on Zee Business to repay Rs 7.41 crore in alleged unlawful gains made by taking positions opposite to their on-air advice.

Biocon: It has reported a net profit of Rs 660 crore for Q3FY24, with revenue from operations increasing 34.4 per cent to Rs 3,953.7 crore.

The company’s chief financial officer, Indranil Sen, has tendered resignation.Separately, it informed the exchanges today that the US Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for bBevacizumab. The CRL did not identify any outstanding scientific issues on the dossier and informs the need for the completion of a pre-approval inspection of the bBevacizumab manufacturing facility.

United Breweries: The liquor seller reported consolidated net profit of Rs 85.34 crore for the December quarter of FY24 as against a loss of Rs 1.97 crore in the same quarter of the previous financial year.

Total revenue of the company rose by 12.28 per cent Y-o-Y to Rs 4,154.98 crore.

That apart, the Board of Directors appointed Anand Kripalu as Chairman of the Board of the Company with immediate effect.

Bharti Airtel, Vodafone Idea: Union Cabinet announced its approval for a 10,523 MHz spectrum auction in CFY, with a reserve price of Rs 96,317 crore. The auction will be held for spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz frequency bands, with a validity period of 20 years

Paytm: Paytm Payments Bank board member Manju Agarwal likely resigned from the company on February 1.

Besides, reports suggest the company is in talks to acquire e-commerce start-up Bitsila.

TVS Supply Chain Solution: The company has signed a settlement agreement in relation to certain disputes. TVS Australia will make aggregate payments amounting to $6 million.

Balmer Lawrie: It will establish a 200 kilo liters per day first-generation grain-based ethanol plant in Andhra Pradesh.

IRCTC: It has signed a memorandum of understanding (MoU) with the Uttarakhand government to operate tourist trains in the state.

Bharat Heavy Electricals (BHEL): It has received an order worth Rs 5,500 crore from Haryana Power Generation Corp. for up to a 1×800 MW ultra-supercritical expansion unit in Haryana.

Signatureglobal (India): It has entered into a joint development agreement for 20.32 acres located in Gurugram. The land has an overall potential developable area of approximately 2.84 million square feet.

Aster DM Healthcare: Its net profit for the December quarter grew by 28.6 per cent Y-o-Y to Rs 179.2 crore.

Its Ebitda rose 25.7 per cent Y-o-Y to Rs 564 crore, while margin expanded to 15.2 per cent as compared to 14.1 per cent in the previous fiscal.

Result reactions: ESAB India, Suryoday SFB, The Ramco Cements, Ircon International, Grasim, ITD Cementation, Hikal, Bombay Dyeing and Mfg, AstraZeneca Pharma, Chamanlal Setia, SKF India, Escorts Kubota, NCC, Page Industries, Apollo Hospitals, Zydus Life sciences, Balrampur Chini Mills, Aarti Industries, Power Finance Corporation, KNR Construction, Patanjali Foods, RVNL