The US markets ended in the green overnight for the second straight session. Back home, both Sensex and Nifty ended the session largely flat. The focus remains on the Reserve Bank of India’s Monetary policy meeting outcome today at 10 am.
Top stocks to watch today are Tata Consumer Products, Lupin, Mankind Pharma, SJVN.
Tata Consumer Products: Shares of Tata Consumer Products will be in focus after the company reported a 17.3% YoY decline in its net profit at Rs 301.5 crore. This was due to an one-time exceptional loss of Rs 91.53 crore. Revenue for the quarter grew 9.5% on a YoY basis to Rs 3,804 crore.
Lupin: Lupin shares will be in focus today after the company posted a massive 300% surge in its Q3 net profit at Rs 613 crore against Rs 153.5 crore reported in the same period last year. The company’s US business grew 23.7% and its India business grew 13.4%.
Mankind Pharma: Mankind Pharma stock price will be in focus as promoters and group members of the company are likely to sell a slice of their stake via a block deal worth Rs 1,330 crore today. This is to comply with the minimum public shareholding norms of SEBI. According to SEBI rules, a promoter cannot hold more than 75% of stake in a company.
SJVN: SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for a 200 MW solar power project in GUVNL Phase XXII.