Stocks To Watch: CESC, BPCL, Zomato, Lupin, Sobha, Wipro & More

Popular companies like Wipro, Tata Consumer Products, Zomato, BPCL, and CESC are among the top 10 stocks that market observers are likely to be keeping an eye on on Thursday, February 8.

Tata Consumer Products

For the quarter ending in December 2023, the firm recorded revenue from operations of Rs 3,804 crores, which is a rise of 9%. EBITDA for the quarter was Rs 576 crores, up 26%. For the quarter that ended in December 2023, Tata Consumer Products Ltd. reported a consolidated net profit of Rs 301.5 crore, a 17 per cent decrease from the Rs 364 crore recorded during the same time the previous year.

Wipro

Wipro Limited on Wednesday announced that it has been recognized as a Top Employer by the Top Employers Institute. Wipro is among the top three employers in nine countries, up from five in the previous year's list, and is rated in 13 countries in Asia Pacific, America, and Europe. Germany, France, Romania, Switzerland, and other European countries selected Wipro as the #1 Top Employer; Canada, Poland, the Netherlands, and the United Kingdom placed second, while the US ranked third.

INOX India

The University Grants Commission (UGC), Ministry of Education (MoE), Government of India, and INOX India Limited (INOXCVA) have signed a Memorandum of Understanding to collaborate on the development of technology for the design and manufacture of SuperConducting Magnet-based systems for clinical, industrial, defense, and research applications. Together, INOXCVA and IUAC will position India as a major participant in the global marketplace for the production of superconducting magnet-based systems.

Sobha

On February 7, Sobha Ltd, a real estate company, said that its consolidated net profit for the quarter ending December 2023 dropped by 53% to Rs 15.08 crore.

Sobha's net profit for the year-ago quarter was Rs 31.8 crore. In the third quarter of the current fiscal year, total income decreased to Rs 713.74 crore from Rs 897.97 crore in the same period last year, as per a regulatory filing.

Shalby

Shalby's net profit jumped by 24.72% to Rs 19.07 crore in the quarter that ended in December 2023 from Rs 15.29 crore in the quarter that ended in December 2022. Compared to the year-ago quarter's Rs 202.46 crore, sales increased by 6.71% to Rs 216.05 crore in the quarter that ended in December 2023.

Lupin

In comparison to the same time last year, Lupin Ltd. recorded a four-fold increase in consolidated net profit, coming in at Rs. 613 crore as opposed to Rs. 153 crore. The Mumbai-based company's total revenue from operations jumped by 20.2% to Rs 5,197.4 crore in the third quarter of the current fiscal year from Rs 4,322 crore during the same time the previous year. EBITDA jumped 95% to Rs 1,038 crore in the December quarter from Rs 533 crore in the same period last year. EBIT margin improved by 770 basis points (bps) to 20% in the quarter under review from 12.3% in the same time last year.

Zomato

On Wednesday the company received communication regarding the liquidation of Zomato Vietnam Company Limited (ZVCL), step-down subsidiary of Zomato Limited w.e.f. February 02, 2024. Lunchtime.cz s.r.o., (Lunchtime) step down subsidiary of Zomato Limited situated in Czech Republic has been liquidated w.e.f. February 6, 2024, as per a stock exchange filing.

BPCL

A Long-term LNG Sale & Purchase Agreement (LNG SPA) for the long-term purchase of approximately 7.5 MMTPA Liquified Natural Gas (LNG) has been concluded and executed by Petronet LNG Limited (PLL), an LNG terminal-owning company in a joint venture with Bharat Petroleum Corporation Limited (BPCL). Four Oil & Gas Maharatna Public Sector undertakings, namely Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation Limited (IOCL), and BPCL, each hold an equity share of 12.50%, making a total of 50% equity participation in PLL, a joint venture company. As of February 6, 2024, approximately 35% of India's LNG imports are accounted for by the current long-term deal between PLL & Qatar Energy.

CESC

With Inox Wind Ltd (and/or its affiliates and subsidiaries), CESC Limited has signed a legally binding framework agreement to provide turnkey solutions, limited EPC, operations, and maintenance services for up to 1500 MW of wind turbine capacity that will be put into service over the course of the next three to four years.

Mangalore Chemicals & Fertilizers

During their board meetings on Wednesday, the directors of Mangalore Chemicals and Fertilizers Limited (MCFL) and Paradeep Phosphates Limited (PPL) approved a composite scheme of arrangement for the merger of MCFL with and into PPL. This approval represents a strategic consolidation move for both companies. The purpose of this proposed merger deal is to bring together the operations of both firms into one larger organisation in order to expand each one to the next level.

The merger transaction is inter alia subject to the approval of the National Company Law Tribunal(s), shareholders and creditors of MCFL and PPL, and the Competition Commission of India. With a total manufacturing capacity of -3.6 MMTPA, the proposed merged company will rank among the most integrated private sector fertiliser producers in India. All MCFL shareholders as of the particular record date shall receive shares of PPL upon the terms of the arrangement's effective date, in the ratio of 187 equity shares of PPL for every 100 equity shares of MCFL. The National Stock Exchange of India Limited and the BSE Limited will list the newly issued PPL shares to the MCFL shareholders.