Notable stocks to monitor: L&T, PB Fintech, Voltas, KEC International, and others

By siliconindia  |  Wednesday, 31 January 2024, 10:00:18 AM IST

Notable stocks to monitor: L&T, PB Fintech, Voltas, KEC International, and others
On Tuesday, the Sensex experienced a decline of 801.67 points, closing at 71,139.90, while the Nifty50 index witnessed a loss of 215.50 points or 0.99 percent, concluding the session at 21,522.10. Let's explore stocks expected to be active in today's trading.
L&T: Engineering company Larsen & Toubro Ltd announced a 15 percent increase in consolidated net profit, reaching Rs 2,947 crore for the quarter ending on December 31, 2023. This is compared to the consolidated net profit of Rs 2,553 crore reported during the same period last year. Additionally, L&T reported a consolidated revenue of Rs 55,128 crore in Q3FY24, a 19 percent increase from Rs 46,390 crore in Q3FY23.
PB Fintech: PB Fintech, which is the parent company of Policybazaar, announced a profit of Rs 37 crore for the third quarter that ended on December 31, 2023. The Q3 performance was driven by a significant increase in insurance premiums and an improvement in contributing margins. Prior to this, the company had reported a loss of Rs 21.1 crore in the September quarter. In Q3FY23, it had reported a loss of Rs 87.6 crore.
Dr Reddy's Laboratories: Pharma firm Dr Reddy's Laboratories reported an 11 percent rise in net profit to Rs 1,379 crore for the quarter ending December 31, 2023, helped by strong performance in its generic drugs business in key US and European markets. Dr Reddy's Laboratories revenue rose 7 percent to Rs 7,215 crore in Q3FY24, with the North American generics segment's revenue - the biggest contributor to the total - rising 9.6 percent. Revenue from the European and Indian segments jumped 15.5 percent and 4.7 percent, respectively.
Tata Consultancy Services: The UK's leading insurance, wealth, and retirement provider, Aviva, has extended its partnership with the country's largest IT services firm for 15 years. They will leverage the TCS BaNCS-based platform to transform Aviva's UK Life business and enhance customer experience.
Nova Agritech: The agribusiness firm will launch its IPO on January 31 at a final issue price of Rs 41 per share, specializing in soil health and crop protection products.
Voltas: The home appliance company's Q2 financial report showed a net loss of Rs 27.6 crore, which is a significant improvement from the previous year's loss of Rs 110.5 crore, despite a healthy revenue. The loss was mainly due to the increase in input costs. However, the company's consolidated revenue from operations increased by 31 percent YoY to Rs 2,625.7 crore during the quarter.
Zee Entertainment: Zee Entertainment has stated that it has no disclosures to report regarding the claims made by its promoter, Subhash Chandra, about increasing his family's stake in the company from 4 percent to 26 percent.
KEC International: KEC International reported a consolidated net profit of Rs 97 crore for the third quarter ended 31 December 2023. Consolidated profit for the RPG Group's flagship company rose nearly 5.5 times to Rs 97 crore. Revenue rose 14.4 percent year-on-year (YoY) to Rs 5,006.7 crore.

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