Markets

Stocks To Watch: Paytm, Bharti Airtel, Adani Total Gas, Others In News

The BSE Sensex declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on fag-end selling. The NSE Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70

Stock to watch 6 February
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Benchmark equity indices settled lower on Monday after selling in index heavyweights Reliance Industries, Bharti Airtel, and Maruti amid weak trends from Asian and European markets.

The BSE Sensex declined by 354.21 points or 0.49 per cent to settle at 71,731.42 on fag-end selling. The NSE Nifty fell by 82.10 points or 0.38 per cent to close at 21,771.70. Sector-wise it was a mixed bag with buying seen in Oil & Gas, Pharma, and Auto.

“Domestic equities saw a subdued session after an outstanding January US employment report ruined any expectations of a near-term interest rate cut. On the positive side, India’s Service PMI rose six months high to 61.8. The RBI policy meeting will start on Tuesday and it is expected to maintain the status quo in line with the US Fed. Overall markets are consolidating at higher levels. With 2 key events behind, markets are taking cues from ongoing results which is leading to a lot more stock-specific action which is likely to continue,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.

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Here are the key stocks to watch on 6 February:

One97 Communications

The Paytm operator denied reports of any investigation by the Enforcement Directorate on OCL, its associates, or its Founder and CEO for anti-money laundering activities.

Bharti Airtel

The telecom major reported a 54 per cent increase in its consolidated net profit to Rs 2,442.2 crore in the October-December quarter of FY24. The company reported a profit of Rs 1,588.2 crore in the year-ago period. The consolidated revenue from operations during the period grew 5.8 per cent to Rs 37,899.5 crore compared to Rs 35,804.4 crore in the December quarter.

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Tata Chemicals

The company reported a 54.4 per cent YoY decline in net profit to Rs 194 crore in the December quarter compared to Rs 425 crore in the year-ago period. The revenue fell 10.1 per cent to Rs 3,730 crore from Rs 4,148 crore a year ago.

Adani Total Gas

Adani Total Gas and INOX India Ltd have entered into a mutual support agreement to designate each other as “preferred partners” for the delivery of LNG and LCNG equipment and services for identifying and exploring possible collaboration opportunities for strengthening the LNG ecosystem in the country.

Pidilite Industries

The company announced the inauguration of a new cutting-edge manufacturing facility in Sandila, near Lucknow, for its prominent tile adhesive brand Roff.

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