Stocks To Watch On February 5: SBI, Zee, Paytm, Tata Motors, InterGlobe Aviation & Others

Stocks To Watch Today: The benchmark indices, Sensex and Nifty, are expected to commence trading lower on February 5, as per indications from GIFT Nifty, projecting a negative start with a decline of 31 points in the broader index.

Following robust gains on February 2, where the Nifty achieved a new peak of 22,126.80 and the Sensex surged by over 1,400 points, the market experienced some retracement from the day’s peak.

The Sensex concluded at 72,085.63, down 440.33 points or 0.61 percent, while the Nifty closed at 21,853.80, down 156.30 points or 0.72 percent.

Here’s a slew of stocks that will be in focus on February 5 for various reasons;

• One 97 Communications (Paytm): Morgan Stanley Asia (Singapore) Pte. Ltd., a foreign institutional investor, has acquired 50 lakh equity shares of Paytm, representing 0.79 percent of the paid-up equity. The purchase was made at an average price of Rs 487.2 per share, resulting in a total valuation of Rs 243.6 crore for the Paytm shares.
• State Bank of India: The standalone profit for the public sector lender in the quarter ending December FY24 has been reported at Rs 9,164 crore. This represents a significant decrease of 35.5 percent compared to the same period last year, primarily attributed to an exceptional loss of Rs 7,100 crore incurred during the quarter. Additionally, provisions and contingencies saw a substantial 88 percent decline, and the pre-provision operating profit decreased by 19.4 percent.
• Zee Entertainment Enterprises: The Singapore International Arbitration Centre (SIAC) has rejected interim relief for Culver Max, the operator of Sony Pictures Networks India, and Bangla Entertainment in response to Zee Entertainment Enterprises’ plea filed before the National Company Law Tribunal (NCLT) for the execution of the merger scheme. According to a regulatory filing, SIAC has concluded that its emergency arbitrator lacks the jurisdiction or authority to restrain the company from approaching the NCLT to carry out the merger scheme. It emphasised that these matters fall within the statutory framework and are to be decided by the NCLT.
• Tata Motors: The Tata Group company has achieved a remarkable 137.5 percent year-on-year growth in consolidated profit, reaching Rs 7,025 crore for the quarter ending December FY24. This substantial increase is attributed to robust operating performance.
• InterGlobe Aviation: The budget airline company has reported a significant 110.7 percent year-on-year growth in profit, totaling Rs 2,998.1 crore for the October–December period of FY24. This impressive result is attributed to a robust top-line and strong operating performance. The revenue from operations during the quarter also saw a substantial 30 percent increase, reaching Rs 19,452 crore compared to the corresponding period in the previous fiscal year.
• LIC Housing Finance: The housing finance company has reported a substantial 142 percent year-on-year surge in net profit, reaching Rs 1,163 crore for the quarter ending December FY24.
• Cochin Shipyard: The government-owned shipping company has secured a contract with the Indian Navy for the medium refits of two naval vessels, valued at Rs 150 crore. The comprehensive contract encompasses dry-docking, refit activities, and the enhancement of equipment on board the ships.