Stocks to watch out for today: IRFC, Bandhan Bank, Tata Power, Shree Renuka Sugars and more

The domestic equity market closed in the green on Friday. Sensex ended 167 points higher at 71,595 and Nifty climbed 64 points to close at 21,782.

Here’s a look at stocks that are likely to remain in action today.

Earnings today

Shares of Coal India, Bharat Forge, Allcargo Logistics, Anupam Rasayan India, BLS E-Services, Cera Sanitaryware, Dilip Buildcon, GSK Pharmaceuticals, Hindustan Aeronautics, HEG, Krsnaa Diagnostics, Mazagon Dock Shipbuilders, Samvardhana Motherson International, NHPC, Steel Authority of India, and Skipper are in focus today as these firms will announce Q3 earnings.

Oil and Natural Gas Corporation

The state-owned oil and gas exploration company’s consolidated profit fell 13.7% to Rs 9,536 crore compared to the year-ago period. Revenue from operations fell 9.8 percent YoY to Rs 34,789 crore in Q3, with crude oil price realisation falling 6.4 percent YoY to $81.59 a barrel.

Tata Power

The firm logged a 2.28 per cent rise in its third-quarter (Q3 FY24) consolidated net profit on a year-on-year (YoY) basis. The company's profit in December 2023 came at Rs 1,076.12 crore as against Rs 1,052.14 crore in the year-ago period. Revenue from operations was up 3.69 per cent in Q3 FY24, at Rs 14,651 crore, compared to Rs 14,129.12 crore in the corresponding quarter last fiscal.

Bandhan Bank

The private sector lender logged a strong 152 percent on-year growth in Q3 net profit at Rs 733 crore amid a sharp fall in provisions and contingencies. Net interest income climbed 21 percent YoY to Rs 2,525 crore in the last quarter. Asset quality improved with the gross NPAs falling 30 bps sequentially to 7.02 percent and net NPAs falling 11 bps QoQ to 2.21 percent for the quarter.

Hero MotoCorp

The world's largest two-wheeler maker logged a 51% rise in net profit at Rs 1,073 crore for the quarter ended December FY24. Revenue from operations in Q3 grew 21 percent YoY to Rs 9,724 crore. The firm announced an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share for the financial year ended 2023–24 . Its board also cleared investment of up to Rs 600 crore over two years for setting up a global parts center (GPC) 2.0 with a storage capacity of up to 36,700 stockkeeping units (SKUs) in Andhra Pradesh.

IRFC

Indian Railway Finance Corporation Ltd (IRFC) logged a slight fall in its third-quarter (Q3 FY24) profit. The rail PSU's net profit in December 2023 quarter came at Rs 1,604 crore, down 1.78 per cent from Rs Rs 1,633 crore in the year-ago period. Revenue from operations, however, rose 8.43 per cent to Rs 6,742 crore in Q3 FY24 as against Rs 6,218 crore in the corresponding period last fiscal.

PI Industries

The agri-sciences company clocked a 27.5 percent on-year growth in consolidated net profit at Rs 448.6 crore in Q3, with healthy growth in topline and operating numbers. Revenue from operations climbed 17.6 percent YoY to Rs 1,897.5 crore for the quarter.

Easy Trip Planners

The company said the board of directors has in principle cleared the proposal to open a 5-star hotel in Ayodhya through an investment of up to Rs 100 crore in Jeewani Hospitality.

Cello World

The consumerware firm logged a 4.7% rise in consolidated net profit to Rs 906.6 crore in Q3 over the previous quarter. Revenue from operations climbed 7.8 percent QoQ to Rs 5,270.5 crore for the quarter.

Shree Renuka Sugars

The sugar producer reported a consolidated net loss of Rs 172.3 crore for the quarter ended December FY24 against a profit of Rs 14.3 crore in the corresponding period of the last fiscal. Revenue from operations rose 18.1 percent YoY to Rs 3,014 crore for the quarter. The company has received approval from the board of directors to raise up to Rs 2,500 crore via QIP.

Multi Commodity Exchange of India

The commodity exchange reported a net loss of Rs 5.35 crore in Q3 against a profit of Rs 38.79 crore in the corresponding period of last fiscal year. Revenue from operations rose 33.4 percent YoY to Rs 191.5 crore for the quarter.

Apeejay Surrendra Park Hotels

The shares of Park Hotels will list on the bourses on February 12. The final issue price has been fixed at Rs. 155 per share.

Mishra Dhatu Nigam

The state-owned specialized metals and metal alloys manufacturing company clocked a 67 percent on-year decline in consolidated profit at Rs 12.8 crore in Q3, led by weak operating numbers and a sharp rise in input costs. Revenue from operations climbed 8.8 percent YoY to Rs 252 crore for the quarter.

Campus Activewear

The sports and leisure footwear maker reported a 48.5% fall in net profit to Rs 24.9 crore in Q3 compared to the year-ago period. Revenue from operations rose 1.4 percent YoY to Rs 472 crore due to a change in channel dynamics.

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