Stocks To Watch Today: LIC, TCS, Paytm, Bharti Airtel, Tata Chemicals & Others – News18

Stocks To Watch Today: The benchmark Sensex and Nifty indices are expected to commence trading on a negative note on February 6, influenced by GIFT Nifty trends indicating a lower start for the broader index, with an anticipated loss of 31.50 points.

Despite an initial surge in opening gains, the Indian equity benchmarks struggled to maintain momentum and concluded lower in a volatile session on February 5. Investors anxiously awaited the outcome of the RBI meeting for insights into potential rate cuts and the trajectory of inflation.

On that day, the Sensex concluded the session with a decline of 354.21 points or 0.49 percent, settling at 71,731.42. Similarly, the Nifty registered a downturn of 82.10 points or 0.38 percent, closing at 21,771.70.

Here’s a slew of stocks that will be in focus on February 5 for various reasons;

Life Insurance Corporation of India: The state-owned life insurance company said the board of directors will be meeting on February 8 to consider the unaudited financial results for the quarter and nine-month period ended in December 2023. Further, in the said meeting, the board may consider a proposal for the declaration of an interim dividend for FY24.

Tata Consultancy Services: The IT services major announced that it has been picked as a strategic partner by Europ Assistance, a leading global assistance and travel insurance company in a multi-year partnership to transform its global IT operating model for enhanced resilience, scalability and user experience, on February 5. In this partnership, TCS will be leveraging its ignio™ AIOps offering to enhance operational resilience and business agility.

Bharti Airtel: The telecom operator has recorded consolidated net profit of Rs 2,442.2 crore for the quarter ended December FY24, growing sharply by 82.2 percent over the previous quarter as the Q2 FY24 profit was impacted by an exceptional loss of Rs 1,570.3 crore. Revenue from operations grew by 2.3 percent QoQ to Rs 37,900 crore, while EBITDA increased by 1.9 percent sequentially to Rs 20,044 crore, but margin dropped 20 basis points QoQ to 52.9 percent for the quarter. Mobile ARPU grew by 2.5 percent QoQ (up 7.5 percent YoY) to Rs 208 in Q3 FY24.

One97 Communications: The Paytm operator denied reports of investigation or violation of foreign exchange rules by the company or its associate Paytm Payments Bank. The reports of the investigation are misleading, baseless, and malicious, which harm the interests of all of the company’s stakeholders.

Adani Total Gas: The Adani Group company has signed a mutual support agreement with Inox India (INOXCVA) to strengthen the LNG ecosystem in India. Under the said agreement, the company and Inox India will collaborate for the delivery of LNG and LCNG equipment and services, reports CNBC-TV18.

Tata Chemicals: The Tata Group company reported consolidated profit of Rs 158 crore for the quarter ended December FY24, falling sharply by 60 percent compared to the year-ago period, impacted by a lower topline as well as disappointing operating numbers. Power, fuel, and input costs remained lower YoY. Revenue from operations fell 10 percent YoY to Rs 3,730 crore for the quarter.

BSE: The country’s oldest stock exchange has registered 109.5 percent on-year growth in consolidated profit at Rs 108.2 crore for the quarter ended December FY24. Consolidated revenue from operations grew by 82.2 percent YoY to Rs 371.5 crore for the quarter.

BLS E-Services: The business correspondent’s services provider is set to debut on the bourses on February 6. The final issue price has been fixed at Rs. 135 per share.