Stocks To Watch Today: Britannia, Paytm, Kotak Mahindra Bank, Biocon & Others

Stocks To Watch Today: It’s anticipated that the Sensex and Nifty indices will commence trading without much change on February 7, with indications from the GIFT Nifty suggesting a subdued beginning for the broader index, showing a modest gain of 8 points.

Following losses in the preceding session, the benchmark indices rebounded and closed positively on February 6, with the Nifty surpassing the 21,900 mark.

By the closing bell, the Sensex had surged by 454.67 points or 0.63 percent to reach 72,186.09, while the Nifty had climbed by 157.70 points or 0.72 percent, ending at 21,929.40.

Here’s a slew of stocks that will be in focus on February 7 for various reasons;

• One 97 Communications: Vijay Shekhar Sharma, the Founder of Paytm, has reportedly had a meeting with Finance Minister Nirmala Sitharaman. The discussion likely centered around the current circumstances concerning Paytm.
• Biocon: The biopharmaceutical company has been granted tentative approval by the US FDA for its Abbreviated New Drug Application (ANDA) concerning Dasatinib tablets. The approved strengths include 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg. These tablets are intended for treating Philadelphia chromosome-positive chronic myeloid leukemia in adult patients.
• Kotak Mahindra Bank: The Competition Commission of India (CCI) has given the green light to Zurich Insurance Company’s acquisition of a 70 percent stake in Kotak Mahindra General Insurance Company. Zurich Insurance will secure a 51 percent stake in Kotak Mahindra General Insurance Company by utilizing a blend of fresh capital infusion and share acquisitions.
• Britannia Industries: The company has reported a consolidated profit of Rs 555.66 crore for the quarter ending December FY24, experiencing a significant decline of 40.4 percent compared to the corresponding period in the previous year, mainly due to its elevated base. In the third quarter of FY23, the net profit comprised exceptional gains of Rs 375.6 crore.
• Nestle India: The leading FMCG company is expected to announce robust double-digit earnings growth for the quarter ending December 31, 2023, during its earnings report scheduled for Wednesday, February 7. Enhanced volumes and price-driven expansion, coupled with operational leverage advantages, are anticipated to have bolstered the company’s performance in the quarter.
• Tata Consumer Products: The FMCG giant is anticipated to unveil double-digit profit growth for Q3FY24 during its third-quarter results announcement on Wednesday, February 7. This growth is attributed to the consistent expansion in volumes within its Indian business, a stable international business, and the advantageous effects of operating leverage.
• Berger Paints: The paint manufacturing firm has recorded a substantial year-on-year growth of 49.2 percent in consolidated profit, reaching Rs 300.2 crore for the October–December period of FY24. This surge can be attributed to robust operating figures coupled with reduced input costs. Revenue from operations also witnessed a 7 percent year-on-year increase, reaching Rs 2,882 crore for the quarter.