Glenmark Pharma, PTC India, Sun TV Network, Gland Pharma, Muthoot Finance, and Infosys are stocks to keep an eye on

The Indian market indexes BSE Sensex and NSE Nifty 50 might open higher on Thursday, according to GIFT Nifty. Here are some important stocks to keep an eye on while trading.

Stocks of Interest: GIFT Nifty had a solid start to the week for the local indexes NSE Nifty 50 and BSE Sensex, as the index rose 65.50 points, or 0.30%, to 21,978.50. Earlier on Wednesday, the BSE Sensex finished 267.64 points or 0.37% higher at 71,822.83, while the NSE Nifty 50 gained 96.80 points or 0.45% to conclude at 21,840.05.

February 15, 2024: Stocks to Monitor for Glenmark Pharmaceuticalsy
Due to increased expenditures and costs associated with the cleanup of its industrial facilities, the firm reported a quarterly loss for the second consecutive quarter.

For the third quarter that concluded on December 31, the company’s combined net loss was 3.51 billion rupees ($42.28 million), down from 2.73 billion rupees recorded a year earlier.

PTC in India

PTC India said on Wednesday that increasing expenditures had caused its consolidated net profit for the December 2023 quarter to drop by more than 7% to Rs 97.04 crore. According to an exchange, the firm reported a net profit of Rs 104.48 crore for the same time last year.

Sun TV Network

For the third quarter ending in December 2023, the firm recorded a 6.81% growth in consolidated profit after tax, coming in at Rs 454.09 crore on Wednesday. One of the biggest broadcasters, Sun TV Network, filed a BSE filing stating that the business declared a PAT of Rs 425.10 crore for the October-December FY23.

Infrastructure and Power GVK

The firm reported a combined net loss of Rs 77.39 crore for the third quarter that ended in December 2023 on Wednesday. The primary cause of the loss was reduced income. According to a business filing with the exchange, it recorded a net profit of Rs 3,402.47 crore for the October through December 2022 period.

Gland Pharmaceuticals

On Wednesday, Gland Pharma revealed a 17% decline in its third-quarter earnings, with robust sales in its core regions being overshadowed by increased personnel costs. The Shanghai Fosun Pharmaceutical Group of China owns the bulk of the firm. According to the company, its consolidated net profit decreased to Rs 1.92 billion ($23 million) during the quarter from Rs 2.32 billion the previous year.

Muthoot Financial

The firm surpassed predictions when it revealed its third-quarter profits for the fiscal year 2023–24 on Wednesday, reporting a profit of Rs 1103.52 crore, up 19% from Rs 927.71 crore in the same period of FY23. In comparison to the same quarter last year, when revenue from operations was Rs 3009.60 crore, it reported revenue from operations of Rs 3820.02 crore, a 26.9% increase.

Information Systems

Indian IT behemoth Infosys cut its average variable pay to 73% for its workers in the third quarter of the current fiscal year, after offering variable payments of almost 80% for the previous two quarters.

For the March quarter of FY23, Infosys cut its variable compensation to 60%, citing difficulties in the global financial environment. According to a source, the variable payment in Q3 varied from 65% to 105%, despite the average payout being 73%.

Ether

The firm announced its third-quarter fiscal profits on Wednesday, showing a profit of Rs 25.52 crore, up 23.5% from Rs 20.66 crore in the same period last year. As compared to Rs 229.68 crore during the third quarter of FY23, its operating revenue was reported at Rs 281.22 crore, an increase of 22.4%.

Asian Paints

For Rs. 14.28 crores, Asian Paints has purchased 51% of Harind’s equity share capital from Aapex, in contrast to the previously negotiated Rs. 12.75 crores.

SpiceJet

SpiceJet, a low-cost airline, seems to be having further financial difficulties. The severe liquidity constraint the firm is experiencing is making investors who had committed to a preferential infusion of capital worth Rs 2,250 crore second-guessing themselves, potentially rendering the company’s operations unprofitable.

Adani Environmental

By feeding electricity into the national grid, Adani Green Energy, the Adani Group’s renewable energy division, has operationalized a 551 MW solar capacity in Khavda, Gujarat. When this park is finished, the business intends to produce 30 GW of renewable energy capacity, making it the biggest renewable energy installation globally. 16.1 million households may be powered annually by energy from the Khavda RE park.

Important profits for today

Third-quarter earnings for R Systems International and EPack Durables will be made public.