GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 37.50 points or 0.16% higher at 23,556.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the BSE Sensex lost 319 points or 0.41%, closing at 77,186, while the NSE Nifty 50 slipped 121 points or 0.52% to 23,361.
Stocks to watch on February 04, 2025 Power Grid Corporation
State-owned Power Grid Corporation reported a 4.1% YoY decline in net profit, dropping to Rs 3,861.6 crore from Rs 4,028.3 crore last year.
Premier Energies
Premier Energies posted a 140.6% revenue increase, reaching Rs 1,713 crore. The company’s EBITDA more than quadrupled, touching Rs 513.7 crore compared to Rs 123 crore in the same quarter last year.
Lupin
Pharmaceutical giant Lupin faced a Rs 3.55 crore penalty from the Maharashtra GST Authority over wrongful Input Tax Credit (ITC) claims. The company intends to appeal the decision.
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KEC International recorded a 33.8% YoY rise in net profit, reaching Rs 129.6 crore. Revenue also grew 6.8%, touching Rs 5,349.4 crore.
Godrej Properties
Godrej Properties strengthened its position in the real estate market by acquiring 100% equity shares of Pearlshine Home Developers, making it a wholly-owned subsidiary.
Garden Reach Shipbuilders
State-run Garden Reach Shipbuilders saw a 37% increase in revenue, reaching Rs 1,271 crore. Net profit also climbed 12% YoY, settling at Rs 98 crore.
Tata Chemicals
Tata Chemicals posted a net loss of Rs 21 crore, a sharp contrast from its Rs 194 crore profit in Q3 FY24. This loss was driven by a Rs 70 crore exceptional charge, mainly due to the closure of its Lostock soda ash plant in the UK, impacting employee and operational costs.
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