Stocks to watch out for today: Tata Power, LIC, Kalyan Jewellers, IRCTC, Paradeep Phosphates and more

The domestic equity market ended in the red on Thursday. Sensex crashed 723 points to end the session at 71,428 and Nifty fell 212 points to settle at 21,717. Here’s a look at stocks that are likely to remain in action today.

Earnings today

Shares of Hero MotoCorp, Tata Power Company, Honasa Consumer, Zydus Lifesciences, Alkem Laboratories, Bajaj Hindusthan Sugar, Bandhan Bank, Campus Activewear, Cello World, DOMS Industries, Emami, Finolex Cables, Happy Forgings, Inox Green Energy Services, Indian Railway Finance Corporation, MRF, The New India Assurance Company, Pfizer, PI Industries, Shree Renuka Sugars, Shipping Corporation of India, SJVN, and Sundaram-Clayton will be in focus ahead of their December quarter earnings today.

LIC

Life Insurance Corporation of India on Thursday reported 49% rise in third-quarter net profit, as it moved more money to a shareholders' fund to shore up its bottom line. The company posted standalone net profit of Rs 9,444 crore for the quarter ended December 31, as against Rs 6,334 crore in the year-ago period.

Biocon

The biopharmaceutical firm recorded a net profit of Rs 660 crore in Q3 against a loss of Rs 41.8 crore in the corresponding period of the last fiscal. This was partly due to a low base as there was an exceptional loss of Rs 271.4 crore in Q3 FY23. Revenue from operations rose 34.4% to Rs 3,953.7 crore over a year-ago period.

Bharat Heavy Electricals

The state-owned power equipment maker has won an order from HPGCL (Haryana Power Generation Corporation) for setting up the 1x800 MW ultra-critical expansion unit at DCRTPP Yamuna Nagar. The contract value is over Rs 5,500 crore. BHEL will provide equipment (including a boiler, turbine, generator, and associated auxiliaries), erection and commissioning, and civil works.

Patanjali Foods

The FMCG company’s profit slipped 19.6 percent to Rs 216.5 crore for the third quarter of FY24 compared to the corresponding period of last fiscal. Revenue from operations declined 0.2 percent YoY to Rs 7,910.7 crore for the quarter.

Kalyan Jewellers India

Goldman Sachs Funds—Goldman Sachs India Equity Portfolio, Nomura Funds Ireland Plc Nomura Funds Ireland India Equity Fund, The Master Trust Bank of Japan Limited AC Nomura India Investment Fund Mother Fund, and Motilal Oswal Mutual Fund A/C Motilal Oswal Midcap 30 Fund purchased 3,68,43,078 equity shares (3.6 percent stake) worth Rs 1,430 crore in the jewellery company. However, foreign investor Highdell Investment offloaded 6,87,29,971 equity shares, or 6.67 percent stake, worth Rs 2,317.01 crore at Kalyan Jewellers. Highdell owned a 17.59 percent stake in the company as of December 2023.

IRCTC

The state-owned entity has inked a MoU with the Uttarakhand government through the Uttarakhand Tourism Development Board (UTDB) for taking dedicated Bharat Gaurav tourist trains through IRCTC and operating the trains originating from different cities and stations of the country to Uttarakhand.

Aster DM Healthcare

The healthcare services provider reported a 28.6% rise in consolidated profit at Rs 179.2 crore in Q3 led by topline and EBITDA performance. Revenue from operations rose 16.2 percent YoY to Rs 3,710.6 crore for the quarter, while operating EBITDA climbed 28 percent to Rs 583 crore.

Ramco Cements

The cement maker logged a 38.6 percent on-year growth in standalone net profit at Rs 93.4 crore in Q3 led by healthy operating numbers. Revenue from operations climbed 5 percent YoY to Rs 2,106.1 crore in Q3.

Rail Vikas Nigam

The state-owned entity’s Q3 profit slipped 6.2% to Rs 358.6 crore affected by the topline and operating numbers. Revenue from operations climbed 6.4 percent YoY to Rs 4,689.3 crore for the quarter.

Paradeep Phosphates

Goldman Sachs India Equity Portfolio has offloaded 74,74,568 equity shares, amounting to a 0.91 percent of paid-up equity, in the company at an average price of Rs 76.05 per share.

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