Stocks to Watch on Jan 31: TCS, L&T, Dr Reddy's, Policybazaar, Coromandel

Stocks to watch on January 31, 2024: Nova Agri Tech will make its debut today. The issue price is Rs 41

Equity benchmark indices Sensex and Nifty are looking at a muted start on Wednesday as global markets remain on the sidelines ahead of the US Fed's policy meeting outcome later today. 

At 7:30 am, the Gift Nifty futures were nearly flat at 21,640 over Nifty futures’ last close. 

The S&P 500 dipped 0.06 per cent last night in the US, the Nasdaq fell 0.76 per cent but the Dow added 0.35 per cent. 

Asian stocks also dropped this morning. Japan’s Nikkei, Kopsi in South Korea fell up to 0.45 per cent. Hang Seng led losses with over 1 per cent slide. 

 

Meanwhile, here are some stocks to watch out in trade today: 

Q3 earnings today: Sun Pharma, Godrej Consumer, Ambuja Cements, Amara Raja, Adani Wilmar, Bank of Baroda, Carborundum Universal, Dabur India and D B Realty, among others. 

New Listing: Nova Agri Tech will make its debut today. The issue price is Rs 41.

L&T: Larsen & Toubro (L&T) has reported a 15 per cent YoY rise in net profit to Rs 2,947 crore for Q3FY24. 

READ: L&T Q3 Results 

The management indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections.

Dr Reddy’s: It posted an 11 per cent YoY rise in profit during Q3 at Rs 1,379 crore on the back of a 7 per cent increase in consolidated revenue at Rs 7,215 crore.

PB Fintech: The parent company of Policybazaar posted a net profit of Rs 37 crore Q3 against a net loss of Rs 87 crore a year ago. Revenue grew 43 per cent YoY to Rs 871 crore.

TCS: It is expanding by 15 years its partnership with Aviva to “transform” the UK- based insurance, wealth, and retirement business company’s business and customer experience.

Petronet LNG: It has registered a marginal 1.2 per cent year-on-year rise in consolidated profit at Rs 1,190.3 crore in Q3. 

Coromandel International: The Murugappa Group company has posted a 57 per cent dip in consolidated net profit for Q3 to Rs 228 crore from Rs 527 crore last year. 

SRF: It has reported a 50 per cent decline in its Q3 consolidated net profit to Rs 253.43 crore from Rs 511 crore in the year-ago period. 

Voltas: It posted a net loss of Rs 27.6 crore for Q3, narrowing from a loss of Rs 110.5 crore a year ago. Consolidated revenue rose 31 per cent YoY to Rs 2,626 crore.