Top 10 stocks for today – 6th February, 2024

6 Feb 2024 , 08:50 AM

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

Adani Total Gas: The Adani Group entered into a mutual support agreement with Inox India (INOXCVA) to help enhance India’s LNG ecosystem. The agreement states that the business and Inox India would work together to offer LNG and LCNG equipment and services.

Tata Chemicals: The Tata Group recorded a consolidated profit of ₹158 Crore for the quarter ended December FY24, a 60% decrease from the previous year’s period, owing to weaker topline and dismal operating results. Power, gasoline, and input costs stayed decreased year on year. Revenue from operations declined 10% year-on-year to ₹3,730 Crore in the quarter.

Ashok Leyland: The commercial vehicle manufacturer’s net profit increased by 60.5% year-on-year to ₹580 Crore in the quarter ended December FY24, above analysts’ expectations and supported by good operating results. Revenue from operations increased by 2.7% year-on-year to ₹9,273 Crore in the quarter.

Bharti Airtel: The telecom operator reported a consolidated net profit of ₹2,442.2 Crore for the quarter ended December FY24, up 82.2% from the previous quarter, while the Q2FY24 result was hit by an unusual loss of ₹1,570.3 Crore. Revenue from operations climbed by 2.3% QoQ to ₹37,900 Crore, while EBITDA improved by 1.9% sequentially to ₹20,044 Crore.

One97 Communications: The Paytm operator denied any inquiry or breach of foreign exchange restrictions by the firm or its affiliate Paytm Payments Bank. The investigative reports are deceptive, unfounded, and spiteful, and they threaten the interests of all of the company’s stakeholders.

Life Insurance Corporation of India: The state-owned life insurance business said that the board of directors would meet on February 8 to review the unaudited financial statements for the quarter and nine-month period ending in December 2023. Furthermore, at the same meeting, the board may consider a proposal to declare an interim dividend for fiscal year 2024.

JK Cement: JK Maxx Paints, a wholly owned subsidiary of JK Cement, and Acro Paints, JK Cement’s step-down subsidiary, have accepted the Scheme of Amalgamation between Acro Paints and JK Maxx Paints on a going concern basis.

Indian Energy Exchange: In January, the electricity exchange reached its highest-ever total volumes of 10,893 million units (MU), a 26.10% increase over the previous year. The market clearing price in the day ahead market in January was ₹5.83 per unit, down nearly 6% year-on-year due to easing supply-side limitations.

TVS Supply Chain Solutions: The logistics company’s consolidated profit for the quarter ended December FY24 was ₹9.99 Crore, down 42% from the previous year’s period despite decreased input prices. The quarterly revenue from operations declined 6.4% year-on-year to ₹2,221.8 Crore.

Shree Cement: In a clarification note to the news – I-T Department issues final notice to Shree Cement after tax liability probe of  ₹4,000 Crore – which appeared on news channels, Shree Cement stated that a show-cause notice was issued to the company in January 2024, asking it to sum up and summarise its response to the inquiry. There is no demand for tax deposition in the notification. The corporation is developing a response and will comply with the notification.

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