Stocks to Watch Today: The Indian stock market is set for an action-packed session on January 31, with multiple companies announcing their quarterly earnings, major deals being signed, and key business developments unfolding. Investors should keep an eye on companies like Larsen & Toubro, Wipro, PB Fintech, Biocon, IRCON, Kalyan Jewellers, Shree Cement, and Tata Consumer, as they are expected to see increased activity. Let’s dive deeper into why these stocks are in focus today.
Quarterly Earnings Updates
Larsen & Toubro (L&T)
L&T reported strong growth in its Q3 earnings:
- Profit: Up 14% YoY to ₹3,358.8 crore vs ₹2,947.4 crore.
- Revenue: Increased 17.3% to ₹64,667.8 crore vs ₹55,127.8 crore.
- Order Inflow: Surged 52.7% to ₹1,16,036 crore vs ₹75,990 crore.
The surge in order inflow suggests strong demand for L&T’s infrastructure and engineering services, making it a stock to watch today.
Biocon
Biocon reported a sharp drop in its Q3 earnings:
- Profit: Down 96.2% to ₹25.1 crore vs ₹660 crore.
- Revenue: Declined 3.3% to ₹3,821.4 crore vs ₹3,953.7 crore.
- Other Income: Plunged 93.8% to ₹34.8 crore vs ₹565.5 crore.
- Acquisition: The board approved the purchase of 1.5% equity shares in Biocon Biologics for ₹555 crore, increasing Biocon’s stake to 90.2%.
Investors will be closely monitoring Biocon as it navigates challenges in profitability and business expansion.
PB Fintech
The parent company of Policybazaar and Paisabazaar posted robust Q3 results:
- Profit: Jumped 88% to ₹71.5 crore vs ₹38.05 crore.
- Revenue: Increased 48.3% to ₹1,291.6 crore vs ₹870.9 crore.
PB Fintech continues to benefit from rising demand in the fintech sector, making it a key stock for traders and investors today.
Kalyan Jewellers
Jewelry giant Kalyan Jewellers delivered strong quarterly numbers:
- Profit: Up 21.2% to ₹218.8 crore vs ₹180.6 crore.
- Revenue: Grew 39.5% to ₹7,286.9 crore vs ₹5,223.1 crore.
Given the increase in gold prices and rising consumer demand, Kalyan Jewellers could see further momentum.
Shree Cement
Shree Cement faced a difficult quarter:
- Profit: Dropped 68.8% to ₹229.4 crore vs ₹734.2 crore.
- Revenue: Fell 13.1% to ₹4,235.5 crore vs ₹4,873.1 crore.
The cement sector is under pressure due to rising input costs, and Shree Cement’s stock performance will be closely watched.
Tata Consumer Products
Tata Consumer posted mixed results:
- Profit: Declined 5% to ₹299.75 crore vs ₹315.5 crore.
- Revenue: Rose 16.8% to ₹4,443.6 crore vs ₹3,803.9 crore.
Tata Consumer’s expansion into premium and health-focused products could drive its future growth.
Key Business Developments
Wipro
Wipro secured a five-year IT transformation contract with Etihad Airways. The deal will provide real-time insights and improve operational efficiency. This is a significant win for Wipro as it strengthens its global IT services portfolio.
IRCON International
IRCON’s joint venture won an EPC contract worth ₹631.2 crore from the Public Works Department, Manipur. IRCON holds a 26% stake in this project, which focuses on road construction and infrastructure development.
Market Movers: Bulk & Block Deals
- Jupiter Wagons: Atyant Capital India Fund sold a 0.94% stake at ₹365.6 per share, amounting to ₹146.24 crore.
- PNB Housing Finance: BNP Paribas acquired 0.04% stake at ₹862.4 per share from Copthall Mauritius Investment.
Stocks Trading Ex-Dividend Today
Companies trading ex-dividend include:
- Coal India
- Motilal Oswal Financial Services
- NTPC
- Persistent Systems
- RITES
- Route Mobile
- Shriram Finance
Stocks Trading Ex-Bonus & Ex-Split Today
- Ex-Bonus: Indraprastha Gas.
- Ex-Split: Senco Gold, JBM Auto, Kiduja India, Mohite Industries.
Conclusion
The stock market is poised for a volatile session, with multiple earnings reports, deals, and corporate actions influencing investor sentiment. L&T, Wipro, PB Fintech, Biocon, IRCON, Kalyan Jewellers, Shree Cement, and Tata Consumer are among the top stocks to watch today. Traders should keep a close eye on market trends and company announcements to make informed decisions.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.