GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded higher as the index was up 65.50 points or 0.30% at 21,978.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 gained 96.80 points or 0.45% to settle at 21,840.05, while the BSE Sensex closed 267.64 points or 0.37% higher at 71,822.83.

Stocks to Watch on February 15, 2024

 Glenmark Pharmaceuticals

Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL Stocks To Watch: Infosys, Coal India, Bank of Baroda, Maruti Suzuki, Tata Steel

The company posted a quarterly loss for the second time straight, hurt by higher expenses and costs related to the remediation of its manufacturing sites.

The company’s consolidated net loss came in at 3.51 billion rupees ($42.28 million) for the third quarter ended Dec. 31, compared with 2.73 billion rupees reported a year earlier.

PTC India

PTC India on Wednesday reported an over 7% fall in its consolidated net profit to Rs 97.04 crore for the December 2023 quarter, impacted by higher expenses. It had clocked a net profit of Rs 104.48 crore in the year-ago period, the company said in an exchange.

Sun TV Network

The company on Wednesday reported a 6.81% increase in consolidated profit after tax at Rs 454.09 crore for the third quarter ended December 2023. The company had reported a PAT of Rs 425.10 crore in October-December FY23, according to a BSE filing by Sun TV Network, one of the largest broadcasters.

GVK Power and Infrastructure 

The company on Wednesday posted a consolidated net loss of Rs 77.39 crore during the third quarter ended December 2023, mainly due to lower income. It had clocked a net profit of Rs 3,402.47 crore in the October-December 2022 period, the company said in an exchange filing.

Gland Pharma 

Gland Pharma reported a 17% fall in third-quarter profit on Wednesday, as higher employee expenses eclipsed strong sales in its core markets. The company, majority owned by China’s Shanghai Fosun Pharmaceutical Group, said its consolidated net profit fell to Rs 1.92 billion ($23 million) in the quarter, from Rs 2.32 billion a year earlier.

Muthoot Finance 

The company on Wednesday reported its third-quarter earnings for the financial year 2023-24 with profit at Rs 1103.52 crore, up 19% in comparison to Rs 927.71 crore during the third quarter of FY23, surpassing estimates. It posted revenue from operations at Rs 3820.02 crore, up 26.9% as against Rs 3009.60 crore during the corresponding quarter of the previous year.

Infosys

After rolling out variable payouts of around 80% for two quarters, Indian IT giant Infosys reduced its average variable pay to 73% given to its employees for the third quarter of the current fiscal.

Infosys had reduced its variable pay to 60% for the March quarter of FY23, citing global macroeconomic headwinds. A source said that while the average payout is at 73%, the variable payout ranged between 65% – 105% in Q3.

Ethos 

The company on Wednesday reported its fiscal third-quarter earnings with profit at Rs 25.52 crore, up 23.5% in comparison to Rs 20.66 crore during the corresponding quarter of the previous fiscal. It posted revenue from operations at Rs 281.22 crore, up 22.4% as against Rs 229.68 crore during the third quarter of FY23.

Asian Paints

Asian Paints has acquired 51% of the equity share capital of Harind from Aapex for Rs 14.28 crores, against Rs. 12.75 crores discussed earlier. 

SpiceJet

Financial trouble for low-cost carrier SpiceJet seems to be rising. Investors who had committed to infuse funds worth Rs 2,250 crore on a preferential basis are having second thoughts due to the acute liquidity crunch the company is facing, which may make its operations unviable.

Adani Green Energy 

Adani Green Energy, the renewable energy arm of Adani Group, has operationalised a 551 MW solar capacity in Khavda, Gujarat, by supplying power to the national grid. The company plans to develop 30 GW of renewable energy capacity from this park, which, when completed, will be the largest renewable energy installation in the world. Energy from the Khavda RE park can power 16.1 million homes each year.

Key earnings today

R Systems International and EPack Durables will be releasing their third-quarter results.