Stocks to Watch: ONGC, Tata Power, Paytm, IRFC, Bandhan Bank, and others are making headlines

Stocks to watch: Before today’s opening bell, take a look at the enterprises that are grabbing attention.

Quarterly earnings scorecards for 480 companies—Coal India, Bharat Forge, Allcargo Logistics, Anupam Rasayan India, BLS E-Services, Cera Sanitaryware, Dilip Buildcon, GSK Pharmaceuticals, Hindustan Aeronautics, HEG, Krsnaa Diagnostics, Mazagon Dock Shipbuilders, Samvardhana Motherson International, NHPC, Steel Authority of India, and Skipper—will be made available on February 12.

1. One 97 Communications: The Paytm operator said that the Board of Directors established a Group Advisory Committee to collaborate with the board in enhancing compliance and regulatory affairs. The committee is helmed by M Damodaran, the former chairman of Sebi. MM Chitale, a former member of the Banking Codes and Standards Board of India’s governing council who was appointed by the RBI, and the former president of the Institute of Chartered Accountants of India (ICAI) are both on the committee. Experts in banking, such as Ramachandran, a former chairman and managing director of Andhra Bank, are also in the group.
2. Oil and Natural Gas Corporation: For the quarter that concluded in December of FY24, the state-owned oil and gas exploration business reported a consolidated profit of Rs 9,536 crore, a decrease of 13.7 percent from the same time the previous year. With the realization of crude oil prices falling 6.4 percent year over year to $81.59 a barrel, revenue from operations decreased 9.8 percent year over year to Rs 34,789 crore for the quarter.
3. Tata Power Company: Better realization in the core business categories of generation, transmission & distribution, and renewables helped the Tata Group company report a net profit of Rs 1,076 crore for the third quarter of FY24, up 2% from the same period last year. For the quarter, operating revenue reached Rs 14,841 crore, an increase of 3% year over year.
4. Hero MotoCorp: With robust growth in operating numbers, the largest two-wheeler manufacturer in the world reported a net profit of Rs 1,073 crore for the quarter that ended in December of FY24, a dramatic 51% increase over the same period last year. The quarter’s operating revenue increased by 21% year over year to Rs 9,724 crore. For the fiscal year that ended in 2023–2024, Hero declared an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share. Additionally, the board approved an investment of up to Rs 600 crore spread over two years to establish a global parts center (GPC) 2.0 in Andhra Pradesh, which would have the capacity to store up to 36,700 stock-keeping units (SKUs).
5. Indian Railway Finance Corporation: During the third quarter of FY24, the Miniratna public sector company reported a net profit of Rs 1,604 crore, a decrease of 1.8 percent from the same period the previous year. For the quarter, revenue from operations increased by 8.4% YoY to Rs 6,742 crore.

PI Industries: With robust growth in topline and operating statistics, the agri-sciences company reported a 27.5 percent year-over-year increase in consolidated net profit for the October–December fiscal year of FY24, coming in at Rs 448.6 crore. For the quarter, revenue from operations increased by 17.6% YoY to Rs 1,897.5 crore.

6. Easy Trip Planners: The firm said that the plan to establish a five-star hotel in Ayodhya with a potential investment of up to Rs 100 crore in Jeewani Hospitality has been authorized in principle by the board of directors.
7. Landmark Cars: The retailer of luxury vehicles reported a consolidated net profit of Rs 18.2 crore for the October–December fiscal year, a decrease of over 30% from the same period in the previous fiscal year. For the quarter, revenue from operations reached Rs 959.2 crore, up 9.5 percent year over year.
8. Bandhan Bank: The private sector lender saw a sharp decrease in provisions and contingencies during the third quarter of FY24, which helped it register a staggering 152% year-over-year increase in net profit at Rs 733 crore. For the quarter, net interest income increased by 21% YoY to Rs 2,525 crore. Asset quality improved throughout the quarter, with net non-performing assets (NPA) falling 11 basis points on a quarter-over-quarter basis to 2.21 percent and gross non-performing assets (NPA) declining 30 basis points sequentially to 7.02 percent.
9. Cello World: The consumer electronics company reported a 4.7 percent increase in total net profit to Rs 906.6 crore for the quarter that ended in December of FY24. Operating revenue for the quarter was Rs 5,270.5 crore, up 7.8% on a QoQ basis.
10. Bajaj Healthcare: Compared to a profit of Rs 11.05 crore during the same period the previous year, the manufacturer of APIs, intermediates, and formulations reported a net loss of Rs 2.2 crore for the third quarter of FY24. Revenue from operations declined by 18.1 percent YoY to Rs 108.6 crore for the quarter. Rupesh Nikam, the company’s Whole-Time Director and Chief Financial Officer (CFO), has resigned in the interim.
11. Shree Renuka Sugars: Despite a higher topline affected by weak operating numbers with higher input costs and financing costs, the sugar producer reported a consolidated net loss of Rs 172.3 crore for the quarter ended December FY24, compared to a profit of Rs 14.3 crore in the corresponding period of the previous fiscal year. For the quarter, revenue from operations increased by 18.1% YoY to Rs 3,014 crore. The board of directors has given the business permission to use QIP to raise to Rs 2,500 crore.
12. Multi Commodity Exchange of India: Despite robust topline growth, the commodity exchange reported a net loss of Rs 5.35 crore for the quarter that ended in December FY24, compared to a profit of Rs 38.79 crore in the same time last fiscal year. For the quarter, revenue from operations increased by 33.4 percent year over year to Rs 191.5 crore. In October 2023, the holding firm added Rs 13.12 crore to the settlement guarantee fund. Additionally, the costs for product licenses and software support more than quadrupled to Rs 146.32 crore from Rs 67.60 crore YoY.
13. Divis Laboratories: The pharmaceutical firm recorded a 17 percent increase in net profit to Rs 358 crore for the third quarter of FY24 compared to the same time in the previous fiscal year. Additionally, the company’s income from operations increased by 8.6 percent year over year to Rs 1,855 crore.
14. Aurobindo Pharma: Supported by robust operating metrics, the pharmaceutical company reported a consolidated net profit of Rs 936 crore for the October–December quarter of FY24, a significant increase of 90.6 percent over the same period the previous year. The quarter’s operating revenue rose 14.7% YoY to Rs 7,352 crore, with growth observed in several different industries. Revenue from US formulations (apart from Puerto Rico) climbed by 28.9% YoY to Rs 3,756 crore, while revenue from European formulations increased by 1.6% YoY to Rs 1,728 crore.
15. Italian Edibles: The company will list its equity shares on the NSE Emerge. Each share is being issued for Rs. 68. Its equity shares will be traded in the surveillance trade-for-trade market.
16. Rane Engine Valve: Rane Brake Lining and Rane Engine Valve merged to form Rane (Madras), according to an announcement made by the Rane group. The proposed scheme of arrangement for reorganization was authorized by the boards of directors of these corporations. By the plan, nine equity shares of Rane (Madras) will be allocated for twenty equity shares of Rane Engine Valve and twenty equity shares of Rane Brake Lining.
17. Apeejay Surrendra Park Hotels: The Park Hotels plans to float its equity shares on the exchanges. The price per share for the final issuance has been set at Rs. 155.
18. Mishra Dhatu Nigam: Due to unsatisfactory operating results and a high increase in input prices, the state-owned manufacturer of specialist metals and metal alloys reported a 67 percent year-over-year reduction in consolidated profit at Rs 12.8 crore for the quarter that ended in December of FY24. For the quarter, revenue from operations increased by 8.8% year over year to Rs 252 crore.
19. Advanced Enzyme Technologies: Supported by robust operating metrics, the specialty biotech company reported a consolidated net profit of Rs 42.5 crore for the third quarter of FY24, up 52% from the same period last year. Operating revenue for the quarter increased by 13% YoY to Rs 160.9 crore.

21. Campus Activewear: With a lackluster topline and poor operating metrics, the sports and leisure footwear company recorded a net profit of Rs 24.9 crore for the third quarter of FY24, a steep decline of 48.5 percent from the same period last year. Operations revenue rose 1.4% YoY to Rs 472 crore as a result of altered channel dynamics.
22. IFCI: Compared to a profit of Rs 67.4 crore during the same period the previous year, the company reported a net loss of Rs 10.06 crore for the third quarter of FY24. To Rs 214.7 crore for the quarter, revenue from operations climbed by 39.3 percent year over year.