GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty was trading 19 points or 0.08% lower at 23,135 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 205.85 points or 0.90% higher at 23,163.10, while the BSE Sensex added 631.55 points or 0.83% to close at 76,532.96.

Stocks to watch on January 30, 2024

Tata Motors 

Tata Motors reported a 22% year-on-year (y-o-y) fall in consolidated net profit for the third quarter ended December, weighed down by contracting margins at Jaguar Land Rover (JLR). At Rs 5,578 crore, its net profit also missed the Bloomberg consensus estimate of Rs 6,435 crore. Driven by an improved product mix, Tata Motors’ revenue from operations improved by 3% y-o-y to Rs 1.13 lakh crore, but was lower than the estimate of Rs 1.17 lakh crore.

KPIT Technologies 

KPIT Technologies reported a 20.4% year-on-year increase and a 7.2% sequential growth in net profit, totalling Rs 187 crore for the December quarter. The sequential profit increase excludes a one-time impact from the previous quarter. KPIT saw an 8.2% quarter-on-quarter decline in net profit during the third quarter, this was mainly due to receiving a Rs 45 crore exceptional income from an insurance claim during the second quarter of FY25.

Westlife Foodworld 

Westlife Foodworld reported a net profit of Rs 7.01 crore, a drop of 59.34% in comparison to Rs 17.24 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 653.72 crore, up 8.91% as against Rs 600.26 crore during the same period of the previous financial year. 

Maruti Suzuki 

Maruti Suzuki posted lower profits than expected during the October-December quarter due to higher input cost, which rose by 17% on year. The company’s standalone net profit was at Rs 3,525 crore, up 12.6% year-on-year, but below Bloomberg consensus estimate of Rs 3,604 crore. Its revenues from operations rose 15.6%, to Rs 38,492 crore, slightly surpassing estimates of Rs 38,436 crore. 

Bajaj Finance 

Bajaj Finance’s consolidated net profit rose by 18% YoY to Rs 4,308 crore in Q3 FY25. Bajaj Finance’s net interest income (NII) rose 23% YoY to Rs 9,382 crore in Q3 FY25 against Rs 7,655 crore in Q3 FY24. The strong performance was supported by a robust increase in assets under management (AUM), which surged 28% to Rs 3.98 lakh crore in Q3 FY25, compared to Rs 3.11 lakh crore in the same period last year.

Brigade Enterprises 

Brigade Enterprises reported a 221% jump in its consolidated net profit to Rs 236.24 crore in Q3 FY25 on the back of strong demand for residential and commercial properties. Its net profit stood at Rs 73.49 crore in the year-ago period. Total income rose to Rs 1,529.68 crore in the October-December period of this fiscal from Rs 1,208.18 crore in the corresponding period of the preceding year, according to a regulatory filing.

Raymond 

Raymond reported a 61% YoY drop in net profit at Rs 72.3 crore for Q3 FY25, compared to Rs 185.4 crore in the same period a year ago. The company’s revenue from operations jumped 40.6% to Rs 953.9 crore against Rs 678.5 crore in the year-ago quarter.

Mineral stocks in focus

The Union Cabinet has approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of Rs16,300 crore and expected investment of Rs.18,000 crore by PSUs, etc. Stocks like Coal India, NMDC, MOIL, Vedanta, Hindustan Zinc, etc. remain in focus. 

GR Infraprojects 

GR Infraprojects has emerged as the lowest (L-1) bidder for a Rs 262.28-crore railway infrastructure project under Western Railway. The contract involves the gauge conversion of a 38.9 km track from Kosamba to Umarpada in the Vadodara division.

Afcons Infrastructure 

Afcons Infrastructure, a Shapoorji Pallonji Group company, said it had secured a major project with the receipt of a letter of award (LOA) from Hindustan Gateway Container Terminal Kandla, a group entity of DP World. The contract, valued at Rs 1,283 crore excluding GST, will be executed on an engineering, procurement, and construction (EPC) basis.