Top 10 stocks for today – 7th February, 2024

7 Feb 2024 , 08:27 AM

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

Paytm: Vijay Shekhar Sharma, the founder of Paytm, met with Finance Minister Nirmala Sitharaman, according to sources. Sharma is expected to have to discuss the present situation with Paytm.

FSN E-Commerce Ventures: The Nykaa brand operator’s net profit increased by 106% year-on-year to ₹17.5 Crore in the quarter ended December FY24, while revenue increased by 22% to ₹1,788.8 Crore and gross merchandise value increased by 29% compared to the previous year. EBITDA for the quarter increased by 26% year-o-year to ₹98.8 Crore, with a margin growth of 20 basis points to 5.5% in Q3 FY24.

Biocon: The USFDA has tentatively approved the biopharmaceutical company’s ANDA for Dasatinib tablets in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg. This medicine is approved for the treatment of Philadelphia chromosome-positive chronic myeloid leukaemia in adults.

Kotak Mahindra Bank: The Competition Commission of India (CCI) has authorised Zurich Insurance Company’s acquisition of a 70% share in Kotak Mahindra General Insurance Company. Zurich Insurance will acquire a 51% stake in Kotak Mahindra General Insurance Company through a mix of new growth capital and share acquisitions.

Britannia Industries: The biscuit company reported a consolidated profit of ₹555.66 Crore for the quarter ended December FY24, down 40.40% from the previous year due to its high base. The net earnings for the third quarter of fiscal year 23 comprised extraordinary profits of ₹375.6 Crore. Revenue from operations increased by 1.4% year-on-year to ₹4,256.3 Crore in the quarter.

Max Financial Services: The Insurance Regulatory and Development Authority of India (IRDAI) has authorised Axis Bank’s capital infusion of ₹1,612 Crore into Max Life, subject to permission from the Competition Commission of India.

Navin Flourine International: The chemicals firm recorded a consolidated profit of ₹78.02 Crore for the quarter ended December FY24, a 26.8% decrease from the same period in the previous fiscal year, hampered by poor topline and operating results. Revenue from operations declined by 11% year on year to ₹501.8 Crore in the quarter.

Lupin: The United States Food and Drug Administration (USFDA) has approved the pharmaceutical company’s abbreviated new drug application for Bromfenac ophthalmic solution, which will allow it to commercialise a generic counterpart of Sun Pharmaceutical Industries’ BromSite ophthalmic solution in the US. Lupin is the sole first to file for this product.

NLC India: The coal mining business posted a consolidated net profit of ₹250.4 Crore for the October-December quarter of FY24, compared to a loss of ₹406.70 Crore in the same period previous year, despite lower topline and operating statistics. Consolidated operating revenue declined 14% year-on-year to ₹3,164.4 Crore during the quarter.

Berger Paints: The paint manufacturing company’s consolidated profit increased by 49.2% year-on-year to ₹300.20 Crore in October-December FY24, owing to strong operating results and decreased input prices. Revenue from operations increased by 7% YoY to ₹2,882 Crore in the quarter.

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