Top 10 stocks for today – 23rd January 2024

23 Jan 2024 , 08:41 AM

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

Tata Motors: The Tata Group said that pricing for its whole passenger car range would rise by an average of 0.7% beginning February 1. The price hike is being implemented to partially offset rising input prices.

ICICI Bank: Despite higher provisions, the private sector lender’s standalone net profit increased by 23.6% year-on-year to Rs 10,271.54 crore in the December quarter of FY24. Net interest income increased by 13.40% year-on-year to Rs 18,678.55 crore for the quarter, but the net interest margin fell to 4.43% in Q3 FY24, from 4.53% in Q2 FY24 and 4.65% in Q3 FY23.

Tata Consultancy Services: The country’s leading IT services business has allowed Euroclear Finland, Finland’s National Central Securities Depository (CSD), to link its main platform with the European securities settlement engine. This transformation programme enables quicker cross-border settlements for Finnish securities investors and has resulted in Europe’s most advanced post-trade platform.

Pfizer: The board of directors has approved appointment of Amit Agarwal as Chief Financial Officer of the company, effective February 26, 2024. Amit Agarwal has also been named as the company’s Additional Director (whole-time Director), serving as Executive Director, Finance, and Chief Financial Officer for a five-year term.

Colgate-Palmolive India: The dental care company’s net profit increased by 36% year-on-year to Rs 330.11 crore in the October-December FY24 quarter, boosted by strong operating results. Revenue from operations climbed by 8% year-on-year to Rs 1,396 crore, with domestic net sales up 8.8% for the quarter.

Steel Authority of India: The Government of India has suspended V. S. Chakravarthy, Director (Commercial), and A. K. Tulsiani, Director (Finance), effective immediately. The government also suspended several of the company’s lower-level officers, including SK Sharma, ED (F&A), CMC; Atul Mathur, ED (Sales & ITD); Vinod Gupta, ED (Commercial); and R M Suresh, ED (Marketing Services), with immediate effect.

Cipla: The pharmaceutical company’s overall net profit increased by 31.80% year on year to Rs 1,056 crore in the quarter ended December FY24, driven by double-digit growth in both topline and operational statistics.

Zee Entertainment Enterprises: Sony Group has called off the December 22, 2021 merger deal between Zee Entertainment and Culver Max Entertainment (CME), formerly known as Sony Pictures Networks India. Sony is seeking a $90 million termination fee for alleged violations of the provisions of the MCA (Merger Co-operation Agreement), as well as arbitration and interim remedies against ZEEL.

Coforge: The global IT solutions company’s net profit increased by 31.5% quarter on quarter to Rs 238 crore in the quarter ended December FY24, with excellent operational metrics. Revenue from operations climbed by 2.10% quarter on quarter to Rs 2,323.3 crore, while revenue in dollars increased by 1.40% to $282 million.

IDFC First Bank: The lender’s earnings increased by 18% year on year to Rs 716 crore in the quarter ended December FY24, with core operating profit increasing by 24% to Rs 1,515 crore. In the third quarter of FY24, net interest income increased by 30% YoY to Rs 4,287 crore.

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