Stocks to watch out for today: Happiest Minds, IndiGo, SpiceJet, NHPC, Asian Paints and more
Here’s a look at stocks to watch out for today.
- Jan 18, 2024,
- Updated Jan 18, 2024 8:44 AM IST
Benchmark Sensex closed 1629 pts lower at 71,500 on Wednesday. Nifty too slipped 460 pts to 21,571. Here’s a look at stocks to watch out for today.
Earnings today
Shares of IndusInd Bank, 360 ONE WAM, Finolex Industries, Home First Finance Company India, IndiaMART InterMESH, Innova Captab, Jindal Stainless, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Supreme Petrochem, Sterling and Wilson Renewable Energy and Tata Communications will be tracked ahead of their quarterly earnings today.
LTIMindtree
The technology consulting and digital solutions company reported a 0.6 percent QoQ growth in net profit at Rs 1,169.3 crore for the quarter ended December FY24. Revenue from operations rose 1.2 percent QoQ to Rs 9,016.6 crore in Q3.
Happiest Minds Technologies
The IT services company has logged a 3.5 percent on-year and two percent sequential growth in net profit at Rs 59.6 crore for October-December quarter of FY24. Revenue from operations climbed 11.7 percent year-on-year and 0.8 percent quarter-on-quarter to Rs 409.9 crore during the quarter.
Alok Industries
The textile company reported a consolidated net loss of Rs 229.2 crore for the quarter ended December FY24 against the loss of Rs 249.83 crore in year-ago period. Revenue from operations declined 27 percent YoY to Rs 1,253 crore in Q3FY24.
Som Distilleries and Breweries
The alcoholic beverage manufacturer has reported a 71 percent year-on-year growth in consolidated profit at Rs 18 crore in Q3 backed by strong topline and operating performance. Revenue from operations (excluding excise duty) in the December quarter rose 79.3 percent YoY to Rs 266.3 crore.
Nazara Technologies
The gaming and sports media platform said its board has cleared preferential allotment of equity shares to raise up to Rs 250 crore.
Persistent Systems
The Pune-based IT services company said the board may consider a proposal of change in the share capital of the company by sub-division/split of the existing equity shares having face value of Rs 10 each, on January 19-20.
NHPC
The government said it would sell a 3.5 per cent stake in power producer NHPC at a floor price of Rs 66 a share, which will garner Rs 2,300 crore to the exchequer. "Offer for sale in NHPC opens tomorrow for non-retail investors. Retail investors can bid on Friday. The government will sell 3.5 per cent equity, including Greenshoe option of 1 per cent," the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X.
SpiceJet, IndiGo Airlines
The Directorate General of Civil Aviation (DGCA) has levied a fine of Rs 30 lakh each on SpiceJet and Air India, whereas, the Bureau of Civil Aviation Security (BCAS) has imposed a penalty of Rs 1.2 crore on IndiGo Airlines.
Asian Paints
The paintmaker reported a 35% year-on-year (YoY) rise in consolidated net profit in Q3 to Rs 1,448 crore. Consolidated revenue from operations rose 5.4% YoY to Rs 9,103 crore but trailed estimates of Rs 9,356 crore.
Also read: Stock recommendations by analyst for Jan 18, 2024: Welspun Corp, L&T Fin and Apollo Hospitals
Benchmark Sensex closed 1629 pts lower at 71,500 on Wednesday. Nifty too slipped 460 pts to 21,571. Here’s a look at stocks to watch out for today.
Earnings today
Shares of IndusInd Bank, 360 ONE WAM, Finolex Industries, Home First Finance Company India, IndiaMART InterMESH, Innova Captab, Jindal Stainless, Mastek, Metro Brands, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Supreme Petrochem, Sterling and Wilson Renewable Energy and Tata Communications will be tracked ahead of their quarterly earnings today.
LTIMindtree
The technology consulting and digital solutions company reported a 0.6 percent QoQ growth in net profit at Rs 1,169.3 crore for the quarter ended December FY24. Revenue from operations rose 1.2 percent QoQ to Rs 9,016.6 crore in Q3.
Happiest Minds Technologies
The IT services company has logged a 3.5 percent on-year and two percent sequential growth in net profit at Rs 59.6 crore for October-December quarter of FY24. Revenue from operations climbed 11.7 percent year-on-year and 0.8 percent quarter-on-quarter to Rs 409.9 crore during the quarter.
Alok Industries
The textile company reported a consolidated net loss of Rs 229.2 crore for the quarter ended December FY24 against the loss of Rs 249.83 crore in year-ago period. Revenue from operations declined 27 percent YoY to Rs 1,253 crore in Q3FY24.
Som Distilleries and Breweries
The alcoholic beverage manufacturer has reported a 71 percent year-on-year growth in consolidated profit at Rs 18 crore in Q3 backed by strong topline and operating performance. Revenue from operations (excluding excise duty) in the December quarter rose 79.3 percent YoY to Rs 266.3 crore.
Nazara Technologies
The gaming and sports media platform said its board has cleared preferential allotment of equity shares to raise up to Rs 250 crore.
Persistent Systems
The Pune-based IT services company said the board may consider a proposal of change in the share capital of the company by sub-division/split of the existing equity shares having face value of Rs 10 each, on January 19-20.
NHPC
The government said it would sell a 3.5 per cent stake in power producer NHPC at a floor price of Rs 66 a share, which will garner Rs 2,300 crore to the exchequer. "Offer for sale in NHPC opens tomorrow for non-retail investors. Retail investors can bid on Friday. The government will sell 3.5 per cent equity, including Greenshoe option of 1 per cent," the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X.
SpiceJet, IndiGo Airlines
The Directorate General of Civil Aviation (DGCA) has levied a fine of Rs 30 lakh each on SpiceJet and Air India, whereas, the Bureau of Civil Aviation Security (BCAS) has imposed a penalty of Rs 1.2 crore on IndiGo Airlines.
Asian Paints
The paintmaker reported a 35% year-on-year (YoY) rise in consolidated net profit in Q3 to Rs 1,448 crore. Consolidated revenue from operations rose 5.4% YoY to Rs 9,103 crore but trailed estimates of Rs 9,356 crore.
Also read: Stock recommendations by analyst for Jan 18, 2024: Welspun Corp, L&T Fin and Apollo Hospitals