Top 10 stocks for today – 1st February 2024; Budget Day

1 Feb 2024 , 08:44 AM

Here are some of the stocks that may see significant price movement today.

Auto Stocks: Maruti Suzuki, Tata Motors, Bajaj Auto, Hero MotoCorp, Eicher Motors, Mahindra & Mahindra, Ashok Leyland, TVS Motor Company, and Escorts will be in the spotlight on February 1, when they disclose monthly sales figures for January 2024.

Paytm: The Reserve Bank of India has taken further action against Paytm Payments Bank, stating that no further deposits, credit transactions, or top-ups will be permitted in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, and so on after February 29, 2024, with the exception of any interest, cashbacks, or refunds that may be credited at any time.

Glenmark Pharmaceuticals: Glenmark partnered with Pfizer to launch Abrocitinib in India. Abrocitinib is used for the treatment of moderate to severe atopic dermatitis. Abrocitinib, developed by Pfizer, has marketing permission from India’s Central Drugs Standard Control Organisation (CDSCO) and has been authorised by the US Food and Drug Administration (FDA), the European Medicines Agency (EMA), and other regulatory bodies.

Shree Cement: The cement company’s standalone net profit increased by 165% year-on-year to ₹734 Crore in the quarter ended December FY24, owing to enhanced realisation and cost reduction amidst sustained demand growth. Revenue from operations increased by 20% year-on-year to ₹4,901 Crore, with sales volume up 11% YoY to 8.89 million metric tonnes, while capacity utilisation improved to 77% from 72% over the same period.

Thomas Cook (India): The omnichannel travel company’s consolidated profit increased by 241% year-on-year to ₹90.5 Crore in the quarter ended December FY24, driven in part by other income and topline. The quarter’s operating revenue increased by 23.2% to ₹1,893 Crore as compared to the same period the previous fiscal year.

Godrej Consumer Products: The FMCG company’s consolidated earnings increased by 6.4% year-on-year to ₹581 Crore in the October-December period of FY24, boosted by strong operating results. The consolidated revenue from operations for the quarter grew by 1.7% to ₹3,660 Crore.

India Pesticides: Quant Mutual Fund and Quant Active Fund sold 5,76,800 equity shares, or half a percent of paid-up equity, in the chemical manufacturing firm in an open market transaction. The shares were sold for an average of ₹376.12 per share. Quant MF has a 1.59% investment in the firm as of December 2023.

Religare Enterprises: Puran Associates, VIC Enterprises, and M B Finmart, all members of the Burman family, purchased 1.18 Crore equity shares, or 3.6% of the company’s paid-up stock, in open market transactions for ₹277.48 Crore. As of December 2023, these entities had a combined 18.28% ownership in the company.

Jindal Steel & Power: The firm reported a consolidated profit of ₹1,928 Crore for the quarter ended December FY24, up 272% from ₹518 Crore in the previous year’s period. The base for Q3FY23 was low due to unusual losses and greater tax expenses. The consolidated income from operations declined 6% year on year to ₹11,701.3 Crore.

Ajanta Pharma: The specialised pharmaceutical formulation firm recorded a net profit of ₹210 Crore for the October-December quarter of FY24, up 56% from the previous year and supported by strong operating results. Revenue from operations grew by 14% YoY to ₹1,105 Crore.

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