Top 10 Stocks to watch on 1st February 2024
One 97 Communications: The RBI has taken action against Paytm Payments Bank, saying no further deposits or credit transactions or top-ups will be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards and so on after 29 February. On 11 March, 2022, the RBI had directed Paytm Payments Bank to stop onboarding of new customers immediately.
Mankind Pharma: Revenue was up 25% to ₹2,606.9 crore, while Ebitda rose 39% to ₹606.5 crore in Q3. Ebitda margin up to 23.3% from 20.9% a year ago. Net profit rose 55% to ₹459.8 crore from ₹295.7 crore a year ago. Domestic revenue up 20% to ₹2,400 crore. Export revenue up 118% to ₹207 crore.
Cochin Shipyard: Bagged an order from a European client to design and build a hybrid service operation vessel (SOV). The project cost is nearly ₹500 crore and the vessel is to be delivered in 2026.
Glenmark Pharmaceuticals: Joined hands with Pfizer to launch Abrocitinib in India. Abrocitinib is used to treat moderate to severe atopic dermatitis.
Shree Cement: Recorded 165% growth in standalone net profit at ₹734 crore for the December quarter, with improved realisation and cost reduction amid robust demand growth. Revenue from operations grew 20% to ₹4,901 crore.
Godrej Consumer Products: Posted 6.4% growth in consolidated profit at ₹581 crore for the December quarter, with healthy operating numbers. Consolidated revenue from operations increased 1.7% to ₹3,660 crore from a year ago.
Jindal Steel & Power: Recorded a consolidated profit of ₹1,928 crore for the December quarter, up 272% from ₹518 crore a year ago, when it recorded an exceptional loss and higher tax costs. Consolidated revenue from operations fell 6% to ₹11,701.3 crore.
Dixon Technologies: Posted 87% growth in consolidated net profit at ₹97 crore for the December quarter, driven by a healthy topline, though the operating margin was weak owing to higher input cost. Revenue from operations doubled to ₹4,818.3 crore from a year ago.
Divgi TorqTransfer Systems: Won orders worth ₹212.1 crore from two North American manufacturers of automotive transmissions. The annual value of these five-year orders is about ₹42.5 crore.
