Top 10 stocks for today – 13th February 2024

13 Feb 2024 , 08:17 AM

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

Mahindra & Mahindra: In January 2024, the vehicle firm recorded output of 1,01,169 units, a 32.40% increase over the same period prior fiscal year. Sales increased by 17.70% year-on-year to 72,198 units, while exports plummeted by 42% to 1,746 units in January.

Hindalco Industries: Novelis reported net income attributable to common shareholders of $121 million for the quarter ending December FY24, a 10-fold increase from the previous year’s period of $12 million. Net income, excluding exceptional items, increased by 81% YoY to $174 million. Net sales fell 6% year-on-year to $3.9 billion in the third quarter of fiscal year 2024, driven by lower average aluminium prices while shipments were consistent with previous years. 

Steel Authority of India: The state-owned steel business recorded consolidated net profit of ₹423 Crore for the October-December quarter of FY24, a 22% drop on a high base due to an extraordinary gain of ₹298 Crore in Q3 FY23. Revenue from operations declined 6.8% year-on-year to ₹23,349 Crore in the quarter.

JSW Energy: SW Neo Energy, the company’s wholly-owned subsidiary, has obtained a letter of award from the Solar Energy Corporation of India (SECI) for 500 MW of wind power. The bid construction includes a 700 MW greenshoe option beyond the granted capacity. This may increase the company’s total granted capacity by 525 MW, to a maximum of 1,025 MW.

Coal India: The country’s largest coal mining business reported a consolidated profit of ₹9,093.7 Crore in the third quarter of FY24, up 17.8% from the previous year, boosted by greater other income and a robust operating margin due to lower input prices. Revenue from operations increased by 2.8% year-on-year to ₹36,154 Crore in the quarter. The state-owned firm declared an interim dividend of ₹5.25 per share.

JM Financial: The firm recorded a roughly 34% year-on-year growth in consolidated net profit at ₹321.6 Crore for the October-December quarter of FY24, with a strong topline. Revenue from operations increased by 33% YoY to ₹1,236 Crore in the third quarter of FY24, while net interest income climbed by 19% YoY to ₹274.5 Crore.

Allcargo Logistics: The logistics services company reported an 88% year-over-year fall in consolidated profit to ₹17.4 Crore for the third quarter of FY24, owing to weaker topline and operational statistics. Revenue from operations declined 22.2% year-on-year to ₹3,211.6 Crore in the quarter.

GSK Pharmaceuticals: The biopharma firm reported a consolidated profit of ₹45.72 Crore for the October-December quarter of FY24, a 72.2% decrease from the same period in the previous fiscal year due to unusual losses and a lower operating margin. Revenue from operations increased by 0.4% year-on-year to ₹805.26 Crore in the quarter.

Dilip Buildcon: Despite strong topline and operating metrics, the construction and infrastructure development company’s consolidated earnings fell 3.3% year-on-year to ₹107.4 Crore, weighed down by smaller extraordinary gains. Revenue from operations for the quarter was ₹2,876.8 Crore, up 23.87% over the previous year.

Suzlon Energy: Vivek Srivastava has been named as CEO of the WTG Division, reporting to the company’s Group Chief Executive Officer, effective February 12.

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