GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a higher opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: Here’s a comprehensive list of stocks to keep in mind before you start your day. From BPCL to Gopal Snacks, you can read about all the stocks that may see action in Wednesday’s trade. Previously, on Tuesday, the NSE Nifty 50 closed the session 178 points or 0.76% lower at 23,381.60, while the BSE Sensex lost 548.39 points or 0.70% to close at 77,311.80.
Stocks to watch on February 12, 2024
BPCL
BPCL is looking to move ahead with its exploration and production projects overseas, including in Brazil and Mozambique, the company’s director-finance Vetsa Rama Krishna Gupta told FE during the ongoing India Energy Week conference. The company will sign a liquefied natural gas (LNG) supply deal with Abu Dhabi National Oil Company (ADNOC) for a period of five years starting in FY26.
L&T
Larsen & Toubro (L&T) chairman and managing director SN Subrahmanyan highlighted a severe labour shortage in India’s construction sector, attributing it to workers’ reluctance to migrate to other cities. Speaking at the CII South Global Linkages summit in Chennai, he pointed out that while many parts of the world experience heavy migration, India faces the opposite challenge.
Vodafone Idea
On the back of lower finance costs and a tariff hike in July, Vodafone Idea posted a smaller-than-expected net loss at Rs 6,609.3 crore during the October-December quarter. Its net loss in the preceding quarter was Rs 7,175.9 crore. Revenues during the quarter stood at Rs 11,117.3 crore, marking a 1.7% sequential increase, but below Bloomberg’s estimate of Rs 11,363 crore.
Adani Group
In a big breather to Adani Group, US President Donald Trump has issued an executive order instructing the Department of Justice to pause the enforcement of an almost five-decade-older law. This is the same law used for probing Gautam Adani in the bribery case.
Devyani International
Devyani International witnessed a slight uptick in demand in metro cities in the October-December quarter, non-executive chairman Ravi Jaipuria said on Tuesday. The company reported a net loss of Rs 7.6 crore in Q3 FY25 mainly due to a deferred tax liability of Rs 16.2 crore. In the same quarter in FY24, it had reported a profit of Rs 5 crore. Total expenses were up 54% to Rs 670 crore, while EBITDA improved from Rs 146.3 crore to Rs 219.2 crore, slightly below Street estimates of Rs 220 crore.
Jupiter Wagons
Jupiter Wagons said it received a letter of acceptance (LoA) from Ambuja Cements Ltd and ACC Ltd, both part of the Adani Cement Group, for manufacturing and supplying BCFCM rakes and BVCM wagons. The order is valued at approximately Rs 600 crore.
Happy Forgings
Happy Forgings has secured a global contract to provide heavy forged and precision-machined parts weighing as much as 1,000 kgs for application in the industrial and mining sectors. The order entails annual committed volumes of Rs 95 crore with a peak annual revenue potential of Rs 160 crore.
HAL
Indian Air Force chief Air Chief Marshal AP Singh said his confidence in Hindustan Aeronautics Ltd. (HAL) continues to erase over its failure to fix delays in delivery and upgrades to the light combat aircraft Tejas.
IRCTC
Indian Railway Catering and Tourism Corporation (IRCTC) announced a 13.7% increase in its consolidated net profit to Rs 341 crore for the third quarter of FY25. The state-run company had posted a net profit of Rs 300 crore in the same period a year ago. Its total revenue from operations rose 10% to Rs 1224.7 crore for the quarter under review against Rs 1,115.5 crore in the year-ago period
Gopal Snacks
Gopal Snacks reported a decline of 70% in its standalone net profit to Rs 5.3 crore in Q3 FY25, impacted by higher expenses. The company posted a net profit of Rs 17.8 crore in the same period a year ago. The company’s revenue from operations grew 7% to Rs 393.5 crore during the reported quarter from Rs 367.5 crore a year ago.