GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 19 points or 0.08% lower at 23,135 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 205.85 points or 0.90% higher at 23,163.10, while the BSE Sensex added 631.55 points or 0.83% to close at 76,532.96.
Stocks to watch on January 30, 2024 Tata Motors
Tata Motors reported a 22% year-on-year (y-o-y) fall in consolidated net profit for the third quarter ended December, weighed down by contracting margins at Jaguar Land Rover (JLR). At Rs 5,578 crore, its net profit also missed the Bloomberg consensus estimate of Rs 6,435 crore. Driven by an improved product mix, Tata Motors’ revenue from operations improved by 3% y-o-y to Rs 1.13 lakh crore, but was lower than the estimate of Rs 1.17 lakh crore.
KPIT Technologies
KPIT Technologies reported a 20.4% year-on-year increase and a 7.2% sequential growth in net profit, totalling Rs 187 crore for the December quarter. The sequential profit increase excludes a one-time impact from the previous quarter. KPIT saw an 8.2% quarter-on-quarter decline in net profit during the third quarter, this was mainly due to receiving a Rs 45 crore exceptional income from an insurance claim during the second quarter of FY25.
Westlife Foodworld
Westlife Foodworld reported a net profit of Rs 7.01 crore, a drop of 59.34% in comparison to Rs 17.24 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 653.72 crore, up 8.91% as against Rs 600.26 crore during the same period of the previous financial year.
Maruti Suzuki
Maruti Suzuki posted lower profits than expected during the October-December quarter due to higher input cost, which rose by 17% on year. The company’s standalone net profit was at Rs 3,525 crore, up 12.6% year-on-year, but below Bloomberg consensus estimate of Rs 3,604 crore. Its revenues from operations rose 15.6%, to Rs 38,492 crore, slightly surpassing estimates of Rs 38,436 crore.
Bajaj Finance
Bajaj Finance’s consolidated net profit rose by 18% YoY to Rs 4,308 crore in Q3 FY25.
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