Indian Stock Market: Stocks to Watch Today
The Indian stock market is expected to be volatile today, with several key companies announcing their Q3 results. ICICI Lombard, Tata Elxsi, Endurance Technologies, NLC India, Paytm, and Just Dial are some of the stocks that will be in focus today.
Company Updates
Birlasoft has received a penalty of 11,796 euros from a Belgium body. Thomas Cook India has signed an MOU with the Gujarat government to boost domestic tourism. Sagar Cements has sold a 7.76% stake in Andhra Cements via an OFS.
Ola Electric Mobility has re-introduced its Ola Muhurat Mahotsav campaign, offering benefits of up to Rs 1 lakh on Ola Shakti Model Products. Anand Rathi Share and StockBrokers is entering the investment and merchant banking business in GIFT City. Endurance Tech is eligible to receive incentives worth Rs 859 crore, an increase of Rs 252 crore from the earlier amount of Rs 606 crore.
Q3 Earnings
ICICI Lombard has reported a 9.1% decline in net profit at Rs 659 crore, compared to Rs 724 crore in the previous quarter. The company’s net premium earned was up 12.7% at Rs 5,685 crore, while the gross premium was up 14.8% at Rs 7,433 crore.
Tata Elxsi has reported a 3.9% increase in revenue at Rs 953 crore, compared to Rs 918 crore in the previous quarter. The company’s EBIT was up 17.4% at Rs 199 crore, while the EBIT margin was at 20.9%. The net profit was down 29.7% at Rs 109 crore, due to an exceptional item of Rs 96 crore related to the new labour codes.
Just Dial has reported a 1.3% decline in net profit at Rs 118 crore, compared to Rs 119 crore in the previous quarter. The company’s revenue was up 0.9% at Rs 306 crore, while the EBITDA was up 9.4% at Rs 95 crore. The margin was at 31.2%, compared to 28.7% in the previous quarter.
Other Stocks in Focus
Other stocks that will be in focus today include Infosys, HDB Financial Services, HDFC AMC, Indian Overseas Bank, Mangalore Refinery and Petrochemicals, and Union Bank of India.
Stock Splits
Kotak Mahindra Bank has announced an ex-stock split from Rs 5 per share to Re 1 per share. Ajmera Realty has announced an ex-stock split from Rs 10 per share to Rs 2 per share.
Anchor Lock-in Period
Park Medi World will exit the anchor lock-in period at 2%. Nephrocare Health Services will exit the anchor lock-in period at 4%.
Conclusion
The Indian stock market is expected to be volatile today, with several key companies announcing their Q3 results. Investors should keep a close eye on the stocks mentioned above and be prepared for any unexpected movements. It’s also important to stay up-to-date with the latest news and developments in the market, and to consult with a financial advisor before making any investment decisions.