These stocks are likely to be in focus on February 2
At close on Tuesday, the Sensex was up by 848.40 points or 1.46% at 58,862.57 and the Nifty was up by 237 points or 1.37% at 17,576.85.
On the BSE, about 1677 shares have advanced, 1679 shares declined, and 93 shares are unchanged.
These stocks are likely to be in focus for Tuesday's trading session -
Lupin Limited: Lupin Limited has entered into a License, Supply and Technology Sharing agreement with Axantia Holding, a leading pharmaceutical company in the region operating through its pharmaceutical subsidiaries; Pharma International Company and Med City Pharmaceutical Industries. Under the terms of the Agreement, Axantia will register, distribute and market biosimilar Pegfilgrastim Drug Product in certain territories including Saudi Arabia, certain GCC countries, Jordan, Lebanon, Iraq, Sudan, Libya and Algeria. Pegfilgrastim is indicated to reduce the duration of neutropenia and the incidence of febrile neutropenia in patients receiving chemotherapy. The scrip of Lupin was at Rs 909.95, down by 0.45%, on the BSE.
Tech Mahindra Limited: Tech Mahindra on Tuesday reported a net profit of Rs 1,368.5 crore for the quarter ended December, missing Street estimates. The quarterly net profit increased 2.2% sequentially. The company’s revenue for the October-December period increased 5.2 % on a quarter-on-quarter to Rs 11,451 crore, according to a regulatory filing. Its revenue growth stood at 4.7%, at Rs 11,450.8 crore. The company reported Rs 1,697.9 crore in earnings before interest and taxes (EBIT) for the third quarter of the current financial year, up 2.8% on the quarter. Its EBIT margin was at 14.8% in the quarter ended December 2021, as against 15.2% in the July-September period. The stock was up by 1.81% at Rs 1505.75, at market close.
Solar Energy Stocks: The shares of companies involved in the manufacturing of clean energy are likely to surge after the FM Nirmala Sitharaman announced additional funds under the production linked incentive (PLI) scheme. The budget allocated an additional Rs 19,500 crore to manufacture equipment for solar power under the PLI scheme. The PLI scheme typically provides incentives to companies for enhancing their domestic manufacturing. The stocks of Adani Power, Tata Power, Suzlon Energy, Gital Renewable Energy, Borosil Renewables, Surana Solar, and Websol Energy Systems will be in focus tomorrow.
52-week high stocks – From the BSE 200 pack, the stocks of Sun Pharmaceuticals, Canara Bank, SBI, Bank of Baroda, and Tata Elxsi India have hit their 52-week high on Tuesday.
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