Stocks To Watch: BoB, Paytm, PVR Inox, PSB, DB Realty & More

Popular companies like Paytm, BoB, DB Realty, Poonawalla Fincorp, and PVR Inox are among the top 10 stocks that market observers will be keeping an eye on on Thursday, February 1.

Cochin Shipyard

An order for the design and construction of one hybrid service operation vessel (SOV) has been received by the company from a client in Europe. The vessel is scheduled for delivery in 2026, and the whole project cost for the specific order is around Rs. 500 crores. The vessel is made to meet the operating, maintenance, and servicing requirements of the offshore wind farm sector in Europe, where there is a significant market for sustainable energy solutions.

DB Realty

Consolidated net profit for Q3FY2024 was declared by the company on Wednesday at Rs 463 crores, compared to a loss of Rs 632 crores in Q32023. In Q3FY24, its net income was Rs 558.0 Cr, down from Rs 668.3 Cr in Q3FY23. While revenue for 9MFY2024 was Rs 1453 crores as opposed to Rs 732 crores in 9MFY2023, the consolidated YTD net profit for 9MFY2024 was Rs 1330 crores, as opposed to a loss of Rs 77 crores in 9MFY2023.

Godrej Consumer Products

Godrej Consumer Products Ltd (GCPL) said on January 31 that its consolidated net profit for the December quarter of FY24 was Rs 581.1 crore, up 6.4 per cent from Rs 546.3 crore in the same period the previous year. According to a regulatory statement, the company's total sales increased by 1.7% to Rs 3659.6 crore from Rs 3,599 crore in the same quarter last year. With EBIDTA of Rs 840.7 crore for the quarter, it climbed by 15.7% YoY. The EBIDTA margin increased by 28 basis points year on year to 23 per cent.

Glenmark Pharmaceuticals

In India, Pfizer and Glenmark Pharmaceuticals Ltd. (Glenmark) have partnered to introduce abrocitinib, an innovative oral advanced systemic therapy for moderate-to-severe atopic dermatitis (AD).Abrocitinib was developed by Pfizer and is authorised by the European Medicines Agency (EMA), the Food and Drug Administration (FDA) in the United States, and other regulatory bodies.

It has also been granted marketing clearance by the Central Drugs Standard Control Organisation (CDSCO) in India. When it is introduced in India, it will be co-marketed by Glenmark and Pfizer under the brand names JABRYUS and CIBINQO, respectively. This partnership combines the expertise of the two companies to provide patients with an innovative treatment for moderate-to-severe AD that offers better oral convenience and efficacy. Abrocitinib (CIBINQO) is available in more than 35 markets worldwide, including the United States, Japan, and China.

Mankind Pharma

Mankind Pharma reported on Wednesday that, for the third quarter that ended in December 2023, its consolidated net profit rose by 55% to Rs 460 crore. In the October-December quarter of the previous fiscal year, the firm reported a net profit of Rs 296 crore. According to a statement from Mankind Pharma, its revenue from operations increased to Rs 2,607 crore during Q3FY24 from Rs 2,091 crore during the same time last year. EBITDA stood at Rs 611 crore, 39% YoY growth with a margin of 23.4% (up 240 bps YoY).

Punjab & Sind Bank

The state-owned Punjab & Sind Bank said on Wednesday that its net profit for the third quarter that ended in December 2023 dropped by 69% to Rs 114 crore. In the same quarter last year, the bank with its headquarters in Delhi made a profit of Rs 373 crore.

According to a regulatory statement from Punjab & Sind Bank, its total income for the quarter under review was Rs 2,853 crore, up from Rs 2,245 crore during Q3FY23. Compared to the same time last year, the interest income increased to Rs 2,491 crore from Rs 2,107 crore. Regarding asset quality, at the end of December 2023, gross non-performing assets (NPAs) dropped from 8.36% of gross loans to 5.70% of gross loans. At the end of the third quarter of the previous fiscal year, net non-performing assets (NPAs) dropped from 2.02 per cent to 1.80% per cent.

Poonawalla Fincorp

The Board of Directors of the company had approved issuance of secured, redeemable, rated, non-convertible debentures of face value of Rs 100,000 each for an amount aggregating up to Rs 200 Cr with a green shoe op on of up to Rs 300 Cr total aggregating up to Rs 500 Cr.

Paytm

Because of regulatory concerns, the Reserve Bank of India (RBI) placed severe restrictions on the operations of Paytm Payments Bank Ltd (PPBL) on Wednesday. New deposits and credit transactions across all of Paytm Payments Bank Ltd's services are prohibited by the central bank.

According to information provided to the company, users can keep using savings accounts, Wallets, FASTags, and NCMC accounts; these are unaffected by restriction. The company anticipates that this action will, in the worst event, have an impact on its future annual EBITDA of between Rs. 300 and 500 crores, depending on the form of the settlement. Nonetheless, the company anticipates maintaining its current course to increase profitability.

Bank of Baroda

Bank of Baroda announced the financial results on Wednesday, January 31, for the quarter that ended on December 31, 2023. In Q3FY24, BOB reported a standalone net profit of Rs 4,579 crore, up 18.8% YoY from Q3FY23's profit of Rs 3,853 crore. Q3FY24's operating profit is Rs 7,015 crore. In Q3FY24, Net Interest Income (NII) increased by 2.6% YoY to Rs 11,101 crore. The bank's Gross Non-Performing Asset (NPA) dropped to Rs 32,318 crore in Q3FY24, a 22.8% YoY decline. Additionally, the bank's Gross Non-Performing Asset Ratio increased to 3.08% from 4.53% in Q3FY23.

PVR Inox

For the December quarter of FY24, PVR Inox recorded a net profit of Rs 12.8 crore, a decline of 20 per cent from Rs 16.1 crore in the same period last year. Revenue for the firm increased from Rs 940.69 crore to Rs 1545.9 crore in Q3FY24.