Top 10 stocks for today – 2nd February 2024

2 Feb 2024 , 07:21 AM

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

1. Hero Motocorp: The two-wheeler maker reported a 22% increase in vehicle sales for January, with a total of 4,33,598 units sold. In the corresponding period of the previous year, the company had sold 3,56,690 units. Domestic sales saw a 20% growth, reaching 4,20,934 units in the past month, compared to 3,49,437 units in the same period of the previous fiscal year.
2. PayTm: The company announced on Thursday that it considers the actions taken by the Reserve Bank of India (RBI) as a substantial obstacle. As a response, the company is initiating operational changes, and during this transition period, Paytm will temporarily suspend the origination of new loans for a couple of weeks.
3. Mahanagar Gas: On Thursday, the city gas distributor announced the acquisition of a 100% stake in Unison Enviro Pvt Ltd.
4. Mazagon Dock Shipbuilders: The shipbuilding company announced that Sanjeev Singhal has been appointed to the additional role of Chairman and Managing Director for a duration of one month, effective from February 2024. Currently serving as the Director (Finance) of the company, Sanjeev Singhal will temporarily take on the additional responsibilities during this period.
5. NMDC: In January of this year, the state-owned iron ore company achieved a recorded iron ore production of 4.54 million metric tons (mt), marking an 8.09% increase compared to the same period last year. Additionally, sales demonstrated robust growth, rising by 18.8% year-on-year to reach 4.56 million metric tons during the month.
6. Castrol India: In the fourth quarter of CY23, the lubricant manufacturer reported a net profit of ₹242 Crore, marking a significant increase of 25.15% compared to the same period in the previous year.
7. PB Fintech: Foreign venture capital investor Claymore Investments (Mauritius) Pte Ltd has exited its investment in the operator of Policybazaar. This exit involved the sale of 1.2 crore equity shares at an average price of ₹992.8 per share and 1.24 crore shares at the same average price, totaling ₹2,425.4 Crore.
8. Dixon Technologies: Nirupam Sahay has resigned from the position of President and COO of the lighting solutions business, and this resignation is effective from the close of business hours on January 31. In the wake of this change, Amit Mittal has taken over the responsibilities for the lighting solutions vertical of the company, starting from February 1.
9. Mphasis: The mid-tier IT solutions company disclosed a consolidated net profit of ₹373.6 Crore for the quarter ending December 31, 2023, representing a 9.4% decline compared to the same period in the previous year. The company’s revenue from operations also experienced a year-on-year decrease of 4.8%, amounting to ₹3,337.95 Crore.
10. Bata: In the December 2023 quarter, the company reported a 30% decline in its consolidated net profit, amounting to ₹58 Crore, compared to ₹83 Crore recorded in the same period the previous year. Despite subdued market demand, the company’s revenue from operations remained steady at ₹903 Crore, attributed to growth in premium categories.