Stocks To Watch: Nestle India, ONGC, AstraZeneca, Equitas SFB, Bandhan Bank, Hero MotoCorp, Biocon, GMDC, Sun Pharma – Market News

As the Union Finance Minister Nirmala Stiharaman is all set to present the Union Budget 2025-26  on February 01, GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty was trading 97 points or 0.41% lower at 23,533 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Saturday. Previously, on Friday, the NSE Nifty 50 closed the session 258.90 points or 1.11% higher at 23,508.40, while the BSE Sensex added 740.76 points or 0.97% to close at 77,500.57.

Stocks to watch on February 01, 2024

Nestle India 

Nestlé India reported a 6.2% year-on-year increase in standalone net profit to Rs 696.1 crore for Q3 FY25, falling short of street estimates due to weak urban consumption and high inflation. Its revenue from operations came in at Rs 4,779.7 crore for the reporting quarter of FY25, compared to an estimated Rs 4,797 crore. However, revenue grew 3.8% y-o-y, up from Rs 4,600.4 crore in Q3 FY24.

ONGC

ONGC reported a third-quarter profit miss on Friday, as buoyant fuel demand failed to cushion the explorer from lower crude realisations. The state-owned firm’s standalone profit fell 17% to Rs 8,240 crore rupees ($952 million) in the October-December period and came far below analysts’ average expectation of Rs 17,931 crore. Standalone earnings exclude profit from its joint ventures and operations outside the country. ONGC contributes to around 71% of domestic crude oil production.

AstraZeneca

AstraZeneca scrapped plans to invest 450 million pounds ($558.3 million) in its vaccine manufacturing plant in northern England, citing a cut in British government support. The decision to ditch the development of an existing facility in the Speke area of Liverpool comes at a time when Prime Minister Keir Starmer is pushing hard to drum up investment in Britain to generate economic growth.

Equitas Small Finance Bank

The RBI said it had slapped penalties on Equitas Small Finance Bank for deficiencies in regulatory compliances. In a statement, the central bank said it had imposed a penalty of Rs 65 lakh on Equitas Small Finance Bank for non-compliance with certain directions on ‘Levy of Foreclosure Charges/Pre-payment Penalty on Floating Rate Term Loans’ and ‘Credit Flow to Agriculture — Collateral free agricultural loans’.

Bandhan Bank 

Bandhan Bank reported a 42% decline in its net profit for the third quarter of the current financial year at Rs 426 crore as compared to Rs 733 crore in the year-ago period. Lender’s MD and CEO Partha Pratim Sengupta said that the drop in net profit was primarily due to a change in accounting procedure and an additional provision of Rs 336 crore for loans, which turned bad, during the Q3 FY25.

Hero MotoCorp 

Hero MotoCorp announced that its Chief Executive Officer (CEO) Niranjan Gupta is stepping down with effect from April 30 as he has decided to “pursue other opportunities”. Gupta’s tenure was exactly two years. The company’s Executive Director (Operations) Vikram Kasbekar has been appointed as the acting CEO with effect from May 1.

Biocon 

Biocon is likely to list its key biosimilar business by early 2026 and aims for a double-digit share in its core US market for its new launches, reported Reuters citing a top executive. The company plans to launch five new biosimilars in the US in the new fiscal year, starting in April, and is aspiring for double-digit market share for them, Biocon Biologics CEO Shreehas Tambe told Reuters.

GMDC 

GMDC said it has entered into a long-term pact with JK Cement for the supply of limestone from its upcoming mine in Gujarat. The agreement has been signed for supply of 250 million tonnes of limestone over a period of 40 years from its upcoming Lakhpat Punrajpur Mine in Lakhpat Taluka of Kutch district in Gujarat.

Sun Pharmaceutical 

Sun Pharmaceutical Industries reported a 15% Y-o-Y growth in its consolidated net profit to Rs 2,903.3 crore for Q3FY25, while revenue from operations during the period grew by 10.5% to Rs 13,675.4 crore. Sequentially, revenue from operations grew by 2.9%, whereas profit after tax (PAT) fell by 4.5%.

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