Top 10 stocks for today – 8th February 2024

8 Feb 2024 , 08:32 AM

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

Zomato: The meal delivery firm has declared the closure of its step-down subsidiary, Zomato Vietnam Company (ZVCL), effective February 2. Lunchtime.cz, Zomato’s step-down subsidiary in the Czech Republic, has also been dissolved, effective February 6.

Tata Consumer Products: Despite strong operational results, the FMCG company’s consolidated profit fell 17.3% year-on-year to ₹301.5 Crore in the quarter ended December FY24, owing to an unusual loss of ₹91.53 Crore. Revenue from operations increased by 9.5% year on year to ₹3,804 Crore in the quarter.

Apollo Tyres: The tyre manufacturing business reported a consolidated profit of ₹496.6 Crore for the third quarter of FY24, up 78.1% year-on-year despite a modest topline, bolstered by strong operating performance. During the same time, revenue from operations increased by 2.7% to ₹6,595.4 Crore.

Power Grid Corporation of India: Despite increasing tax charges, the state-owned electric utilities company’s consolidated net profit increased by 10.5% year-on-year to ₹4,028.3 Crore in October-December FY24, led by strong operating results. Revenue from operations increased by 2.6% year-on-year to ₹11,549.8 Crore in the quarter.

SJVN: The business has secured a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for a 200 MW solar power project in GUVNL Phase XXII. The estimated cost of building and development for this project is ₹1,100 Crore. SJVN Green Energy would develop the ground-mounted solar installation anyplace in India under an EPC contract. 

Inox India (INOXCVA): The cryogenic solutions firm has signed a Memorandum of Understanding (MoU) with the Inter-University Accelerator Centre (IUAC) to develop technologies for designing and manufacturing superconducting magnet-based systems. The system will be utilised for therapeutic, industrial, defence, and research purposes.

Mankind Pharma: Sheetal Arora, Arjun Juneja, and Puja Juneja, Mankind’s promoters, have agreed to sell a combined ownership of 1.62% to meet the minimum public shareholding requirements. A block deal for roughly ₹1,330 Crore has been launched for the aforementioned disposal, with a floor price of ₹2,050 Per Share.

JK Paper: The paper manufacturing company’s consolidated profit fell 29.1% on-year to ₹236.4 Crore in the quarter ended December FY24, owing to a dip in total sales realisation and a significant increase in wood costs. The revenue from operations grew by 2.7% to ₹1,781.65 Crore for the quarter.

Lupin: The pharmaceutical company’s consolidated earnings increased fourfold to ₹613.1 Crore for the quarter ended December FY24, from ₹153.5 Crore in the previous year, driven by growth across sectors, with US companies gaining 23.7% and India growing 13.40%. Revenue from operations increased by 20.2% year-on-year to ₹5,197.4 Crore in the quarter.

Manappuram Finance: The gold loan finance company’s overall net profit increased 46.2% year-on-year to ₹575.3 Crore in the quarter ended December FY24. Net interest income for the quarter increased by 32.90% year-on-year to ₹1,452.4 Crore.

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