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SUMMARY
As the dust settles after the Delhi elections, the focus now shifts to key stocks to watch on February 10. Investors will be keeping an eye on a mix of prominent players across sectors, including Hitachi Energy India, BHEL, Vedanta, Oil India, and WABAG, among others. Here's a look at the companies making headlines and what could drive their stock performance in the coming sessions.
By Poonam Behura February 9, 2025, 3:02:18 PM IST (Updated)
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Va Tech Wabag | The water technology multinational has secured a consortium order worth $371 million (approximately ₹3,251 crores) for the development of a 200 megaliters per day (MLD) Independent Sewage Treatment Plant (ISTP) in Riyadh, Saudi Arabia, the company announced on Saturday, February 9, 2025.
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Hitachi Energy India | The company received a Letter of Intent (LOI) from Rajasthan Part I Power Transmission Limited. The LOI pertains to a joint venture between Hitachi Energy India and Bharat Heavy Electricals Limited (BHEL), for the design and execution of a High Voltage Direct Current (HVDC) link. The project aims to transmit renewable energy from Bhadla III (Rajasthan) to Fatehpur (Uttar Pradesh).
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Banco Products | This maker of automotive and industrial cooling products has declared its quarterly results for FY2024-25 and announced an interim dividend for investors. In its board meeting, Banco Products approved an interim dividend of ₹11 per share, translating to a 550% payout. The company set February 14, 2025, as the record date, determining shareholder eligibility for the dividend.
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Balu Forge Industries | A portfolio company of veteran investor Ashish Kacholia, Balu Forge reported strong financial results for third quarter of FY25. The company’s net profit surged 134% year-on-year to ₹59 crore from ₹25 crore in the same quarter last year. Revenue from operations jumped 74% to ₹256 crore, compared to ₹147 crore in Q3FY24. EBITDA stood at ₹68 crore, marking a 107% increase from ₹33 crore in the previous year.
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Brainbees Solutions | The parent company of FirstCry reduced its losses by 69.2% in the third quarter of FY25. The company’s net loss dropped from ₹48.4 crore to ₹14.7 crore. Operational income grew 14.3% to ₹2,172 crore, up from ₹1,900 crore in the same period last year. In India, revenue grew by 15% to ₹1,510 crore, while international revenue rose to ₹261 crore from ₹230 crore in the previous year.
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HDFC Bank | The lender increased its Marginal Cost of Funds-based Lending Rate (MCLR) for the overnight tenure by 5 basis points (bps). The new rate is 9.20%, up from 9.15%, effective February 7, 2025. This hike comes despite the Reserve Bank of India (RBI) reducing the repo rate by 25 bps, from 6.5% to 6.25%. This was the first rate cut in five years, aimed at easing borrowing costs for homebuyers.
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Bharat Electronics | This Navratna Defence PSU said it has received orders worth ₹962 crore, including a ₹610 crore contract to supply an Electro-Optic Fire Control System (EOFCS) to the Indian Navy. EON-51 is an Electro-Optical Fire Control System which provides search, detection and classification of targets using electro-optical and thermal imager devices.
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Vedanta | The Mumbai-listed mining conglomerate received two orders, dated February 6, from the Office of the Commissioner, Central Goods and Services Tax (CGST) & Central Excise, Rourkela Commissionerate, seeking penalties totalling ₹141.36 crore, along with tax demand and applicable interest. The first order imposes a penalty of ₹86.06 crore related to availing and utilising Input Tax Credit (ITC) during the 2017-18 financial year.
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Glenmark Pharmaceuticals | The drug firm received an order from the Joint Commissioner of Central Goods and Services Tax and Central Excise (CGST & CX) Palghar, Maharashtra, seeking ₹121.25 crore in tax, interest, and penalties from 2017-18 to 2021-22. The order includes a demand of ₹57.70 crore for excess Integrated Goods and Services Tax (IGST) refunds claimed on the cost, insurance, and freight (CIF) value instead of the free-on-board (FOB) value.
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Oil India | The PSU reported a 22.88% year-on-year (YoY) decline in net profit at ₹1,221.80 crore for the third quarter against ₹1,584.28 crore in Q3 FY24. The maharatna’s revenue fell 9.89% to ₹5,239.6 crore against ₹5,815.02 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA fell 11.18% to ₹2,321.34 crore in the third quarter of this fiscal over ₹2,613.75 crore a year ago.
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Shipping Corporation of India | The company reported a 43.8% year-on-year (YoY) decline in net profit at ₹75.5 crore for the third quarter that ended December 31, 2024, compared with ₹134.4 crore last year. The company's revenue from operations fell by 1.9% to ₹1,315.6 crore as against ₹1,340.7 crore in the corresponding period of the preceding fiscal. EBITDA dropped 14.3% to ₹357.3 crore in the third quarter of this fiscal over ₹416.9 crore in the corresponding period in the previous fiscal.
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Delhivery | The logistics company reported a 113.68% year-on-year (YoY) jump in net profit at ₹25 crore for the third quarter that ended December 31, 2024, compared with ₹11.7 crore last year. The company's revenue from operations increased 8.4% to ₹2,378.3 crore as against ₹2,194.4 crore in the earlier year. At the operating level, EBITDA fell 6.2% to ₹102.4 crore in the third quarter of this fiscal over ₹109.2 crore in the corresponding period in the previous fiscal.
