These stocks are likely to be in focus on February 8
On Monday, bears exerted heavy selling pressure in the last one-hour trading session, resulting in a sharp cut on the benchmark indices.
The Sensex was down 1,045.19 points or 1.78% at 57,599.63 level, and the Nifty was down 302.35 points or 1.73% at 17,213.95 level.
These stocks are likely to be in focus for Tuesday's trading session -
Lupin – The shares of the company dipped 6% to Rs 816.25 on Monday, plunging 9% in the previous two trading sessions after the company reported lower-than-expected margins and net profit in Q3FY22, due to one-time expenses related to residual metformin returns and provision for aged stock returns of Oseltamivir. The stock of Lupin dropped below its previous 52-week low of Rs 854 touched on December 20, 2021. The stock is seen trading at its lowest level since May 2020.
Minda Industries – The company has announced its results for the quarter ended December 31, 2021. At a consolidated level, the company registered a resilient quarterly performance with revenue of Rs 2,181 crore in Q3FY22 as against Rs 2,031 crore for the corresponding quarter i.e., Q3FY21, registering a rise of 7%. Profit before tax for Q3FY22 was Rs 141 crore as against Rs 175 crore in Q3 FY21 and Rs 135 crore in Q2FY22. PAT (MIL Share) for the quarter is Rs 101 crore in Q3FY22 as against Rs 115 crore in Q3FY21 and Rs 95 crore in Q2FY22. In an otherwise bearish market, the stock closed at Rs 1,098.6 per share on Monday, which is 3.5% up on BSE.
Tech Mahindra – The company has announced a collaboration with Yellow.ai, the world’s leading next-gen total experience (TX) automation platform to transform enterprise customer experiences with conversational Artificial Intelligence (AI). The partnership is aimed at redefining the way enterprises connect with customers, employees, and vendors. As part of the partnership, Tech Mahindra and Yellow.ai will work towards developing next-gen conversational-AI solutions to elevate omnichannel capabilities such ERP, HRMS, CM, CRM. The stock has slipped 0.54% and closed at Rs 1,440.40 per share on Monday.
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