Stocks to watch today on February 10: LIC, M&M, Bharat Electronics, Glenmark, Vedanta, Cipla, NHPC, Oil India & more in focus

The Indian stock market is set to witness key movements on February 10, with several companies announcing their Q3FY25 earnings and significant corporate developments. From Bharat Electronics’ major defense orders to tax notices for Glenmark and Vedanta, here’s a look at the top stocks in focus today.

Major Stocks in Focus

• Bharat Electronics (BEL): The defense PSU has secured orders worth Rs 962 crore, including a Rs 610 crore contract to supply an Electro-Optic Fire Control System (EOFCS) to the Indian Navy.
• Glenmark Pharmaceuticals: The company received a Rs 121.25 crore tax demand from the GST department for excess refund claims.
• Vedanta: The mining conglomerate faces Rs 141.36 crore in tax penalties imposed by CGST & Central Excise authorities.
• Cipla: The USFDA has issued a ‘Voluntary Action Indicated’ (VAI) status for its Bengaluru plant, indicating no immediate regulatory action is required.

Key Q3FY25 Earnings Announcements

Several companies reported their quarterly earnings with mixed performances across sectors:

Strong Performers

• LIC: Reported a 16% YoY rise in net profit at Rs 11,009 crore, despite a 9% decline in premium income.
• Mahindra & Mahindra (M&M): Posted a 19% increase in net profit at Rs 2,964 crore, backed by strong SUV and tractor sales.
• Fortis Healthcare: Net profit surged 84% YoY to Rs 248 crore, with revenue up 15%.
• Alkem Laboratories: Recorded a 5% rise in net profit at Rs 626 crore, while revenue grew 1.5% YoY.
• VST Industries: Net profit soared 153.65% YoY to Rs 136.26 crore, with sales growing 1.26%.
• Venky’s: Reported a 356.68% increase in net profit to Rs 20.38 crore, despite a 7.51% decline in revenue.

Declining Performers

• NHPC: Net profit declined 47% YoY to Rs 330.13 crore, mainly due to higher expenses.
• Oil India: Witnessed a 44% drop in net profit to Rs 1,457 crore, with 16.7% decline in revenue.
• PSP Projects: Faced an 83.74% slump in net profit to Rs 5.05 crore, with revenue falling 10.58%.
• Sun TV Network: Reported a 20% drop in net profit to Rs 363 crore, while revenue fell 10.4% YoY.
• Borosil: Saw a 6.4% decline in net profit at Rs 35.5 crore, despite an 11.3% growth in revenue.

Other Key Earnings Announcements

• FirstCry (Brainbees Solutions): Reduced losses by 69.2% to Rs 14.7 crore, compared to Rs 48.4 crore last year.
• Wockhardt: Posted a Rs 14 crore net profit, bouncing back from an Rs 83 crore loss in the previous year.
• VA Tech Wabag: Net profit increased 11.6% YoY to Rs 70.2 crore, with revenue growing 15.1% to Rs 811 crore.
• Zaggle Prepaid Ocean Services: Revenue surged 69% to Rs 336.4 crore, with net profit rising 33% to Rs 20.2 crore.

Upcoming Q3FY25 Earnings Releases Today

Companies set to announce their earnings on February 10 include: Eicher Motors, Grasim Industries, Nykaa, Apollo Hospitals, National Aluminium Company, Ashoka Buildcon, Bata India, CRISIL, Engineers India, Escorts Kubota, MTAR Technologies, National Fertilizers, Patanjali Foods, Signature Global, Transrail Lighting, TVS Supply Chain Solutions, and Varun Beverages.

Stocks Trading Ex-Dividend Today

Aster DM Healthcare, GPT Infraprojects, Indian Toners & Developers, and Suraj Stainless are trading ex-dividend today.

(Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Investors are advised to conduct their own due diligence before making any investment decisions.)

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