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Business News/ Markets / Stock Markets/  Stocks to Watch: Airtel, Ashok Leyland, LIC, Britannia, JFS
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Stocks to Watch: Airtel, Ashok Leyland, LIC, Britannia, JFS

Here are a few stocks likely to be in focus on Tuesday, February 6:

The F&O ban list for February 6 includes National Aluminium Company and UPL, along with Hindustan Copper, India Cements, Indus Towers, and Zee Entertainment Enterprises. Photo: BloombergPremium
The F&O ban list for February 6 includes National Aluminium Company and UPL, along with Hindustan Copper, India Cements, Indus Towers, and Zee Entertainment Enterprises. Photo: Bloomberg

Bharti Airtel: Bharti Airtel's consolidated net profit in the quarter ended December rose nearly 55% year-on-year to 2,442 crore, helped by subscriber additions and a rise in average revenue per user. It posted revenues of 37,900 crore during the quarter, up 5.9% from the same period last year. The Africa business reported a 92% fall in net profit to $15 million, with finance costs more than doubling to $352 million. The average revenue per user, or ARPU, a key metric of profitability, bettered market expectations at 208 per month, up 7.7% y-o-y and also higher than 203 it posted in the quarter ended September 2023.

Ashok Leyland: The commercial vehicle maker reported a 60.5% YoY rise in its standalone net profit to 580 crore in the quarter ending December 2023. Net profit stood at 361.34 crore in the year-ago period. The company's net standalone revenue increased by 2.7% YoY to 9,273 crore against 9,029.7 crore in the year-ago period. The Hinduja group firm's EBITDA stood at 1114 crore during the quarter under review against Rs. 797 Cr (8.8%) during the December quarter. In the December quarter, Ashok Leyland finalised orders for more than 3800 buses from State Transport Undertakings.

Life Insurance Corporation of India: The company will announce its third quarter financial results and may declare an interim dividend for FY24 on February 8, the company said in an exchange filing on Monday. “A meeting of the Board of Directors of the Corporation is scheduled to be held on February 08, 2024, inter-alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine-month period ended on December 31, 2023. In the said meeting, the Board of Directors may consider a proposal for declaration of Interim Dividend for the Financial Year 2023-24," said the company in its BSE filing. On Monday, LIC shares touched their 52-week-high mark of 1,027.95 per share on BSE. The company scrip closed 5.90% higher at 1000.35 per share today. Over the past six months, LIC's share value has increased by 51.90%.

Adani Total Gas & INOX India: Adani Total Gas has entered into a mutual support agreement with INOX India under which both will get a “preferred partner" status for the delivery of LNG and LCNG equipment and services to identify and explore possible collaboration opportunities with an aim to strengthen the LNG ecosystem in the country. As preferred partners, ATGL will get certain project-level benefits, which include preferential treatment to ATGL and access to advanced scheduling, and consideration for collaborative opportunities for establishing LNG/LCNG stations, LNG satellite stations, transitioning to LNG as a transport fuel, LNG logistics, as well as developing small-scale liquid hydrogen solutions for the industry.

JSW Infrastructure: The private port operator has earmarked about 6,000 crore for acquiring strategic assets, with an aim to bolster its presence in an industry dominated by the Adani Group. The firm is exploring a stake acquisition in a government-owned port slated for privatization, a senior executive of the company said. Arun Maheshwari, joint managing director and chief executive of JSW Infra, said the company has one of the strongest balance sheets in the ports sector and the headroom is good enough to expand aggressively, as long as the opportunity is value accretive. JSW Group is evaluating all privatization prospects offered by the government, including the ambitious trans-shipment port project at Galathea Bay in the Great Nicobar Island.

Britannia Industries: The FMCG major is slated to report a 2% YoY increase in consolidated net profit when it reports it Q3FY24 results on Tuesday, February 6. Analysts peg the company's net profit at 566 crore, compared to the 556.8 crore it earned in the year-ago period. The also see muted growth in Q3FY24 on the back of a high base (anniversarisation of price hikes), some price cuts, high competition and low single-digit volume growth. This will restrict revenue growth at 3 percent YoY at 4,303 crore for the quarter.

Jio Financial Services: The NBFC said in a clarification to the exchanges that it "has not been in any negotiations" to acquire Paytm's wallet business, on Monday night. The Mukesh Ambani-led financial services provider issued a statement to the exchanges to clarify on news reports which stated that it is in talks to acquire Paytm wallet. On January 31, the Reserve Bank of India had barred Paytm Payments Bank from undertaking any banking activities after February 29, citing non-compliance with KYC guidelines and other issues.

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.

Ideaforge Technology: The unmanned aircraft systems maker has clocked a net profit of 14.8 crore for the October-December period of FY24 against a loss of 7.8 crore in the same period last year, boosted by healthy topline and operating numbers. Revenue from operations jumped significantly to 90.9 crore for the quarter, from 7.8 crore in the corresponding period last fiscal.

Tata Chemicals: The Tata group company reported consolidated net profit of 158 crore for the quarter ended December 2023, down 60% compared to the year-ago period, impacted by lower topline as well as disappointing operating numbers. Power & fuel and input costs remained lower YoY. Revenue from operations fell 10 percent YoY to 3,730 crore for the quarter.

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Published: 06 Feb 2024, 07:28 AM IST
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