Poly Medicure's Capacity Expansion | Bajaj Finserv to Form JV | Top Buzzing Stocks Today

Wed, 5 Feb Pre-Open

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Indian benchmark indices gained as the session progressed and ended the day higher.

Benchmark equity indices BSE Sensex and Nifty50 were trading higher on Tuesday, as investors kept a keen eye on tariff-related developments in the US.

At the closing bell on Tuesday, the BSE Sensex closed higher by 1,397 points (up 1.8%).

Meanwhile, the NSE Nifty closed higher by 374 points (up 1.6%).

IndusInd Bank, Adani ports and L&T was the top gainers.

Trent, Nestle and Britannia on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 1.4% higher and BSE SmallCap index ended 1.2% higher.

Sectoral indices were trading mixed with socks in power sector, capital goods sector and energy sector witnessing most buying speer.

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Top buzzing stocks today

Asian Paints share price will be in focus today.

Asian Paints on February 4 reported a 23% drop in net profit for Q3FY25, with a net profit of Rs 11.28 billion (bn), compared to Rs 14.75 bn in the same quarter of the previous year.

The company's revenue also saw a decline of 6%, falling to Rs 85.49 bn from Rs 91.03 bn in Q3FY24.

J Kumar Infra will also be a top buzzing stock.

J Kumar Infraprojects shares surged by 5% following the company's strong earnings performance for the December quarter. The company reported a notable increase in net profit and revenue, while maintaining steady margins.

Net profit for Q3 grew by approximately 21% year-on-year, reaching Rs 9.9 bn, up from Rs 8.3 bn in the same quarter last year.

Tata Power Q3 Results

Tata Power Ltd. announced its Q3 results after market hours on 4 February, posting year-on-year growth across key financial metrics despite regulatory losses.

The company's revenue increased by 5% to Rs 153.9 bn, though it fell short of analyst estimates of Rs 172.5 bn.

Net profit rose by 10.3% to Rs 1,187 crore from Rs 10.8 bn in the same quarter last year.

EBITDA saw a significant 39% jump to Rs 33.5 bn, with margins improving by over 500 basis points to 21.8% from 16.5% a year ago.

During the quarter, the company recorded a regulatory loss of Rs 2.7 bn, in contrast to a gain of Rs 1.9 bn in the corresponding period last year.

Meanwhile, profit from its renewable energy business surged 59% to Rs 2.1 bn. Tata Power's Clean & Green portfolio now comprises nearly 6.7 GW of installed capacity, with an additional 10 GW in the pipeline, bringing its total renewable portfolio to over 16.7 GW.

Poly Medicure's Capacity Expansion

Shares of medical devices company Poly Medicure are finding strong buying interest, rising over 10% in trade after healthy third-quarter results and a confident growth guidance.

The company has projected an over 20% revenue growth for the next 2-3 years, the management has said. Poly Medicure also guided for the margin to improve by 100-120 bps on a full-year basis.

The company had raised funds through a QIP in August 2024, which it had said were intended for acquisition opportunities. The management has been on the lookout for an inorganic growth opportunity worth around Rs 5 bn.

Despite a strong export pipeline, India remains an important market for Poly Medicure, and the domestic business is seen growing at over 20% for the fiscal. The company also plans to commercialize its latest Drug Eluting Stent as early as this week, after having received regulatory approval during the December quarter.

The management has also signed a JV for a 9.9 MW solar power plant in Haryana, which will be operationalized by September 2025 and is in line with the target of a lower carbon footprint.

The company said capex worth Rs 2.2 so far this year has been funded through internal accruals, to set up manufacturing facilities.

Bajaj Finserv to Form JV

Bajaj Finserv Ltd. is in ongoing discussions with Germany's Allianz SE regarding the potential separation of their life and general insurance joint ventures. The Indian financial services company is seeking greater control over these businesses.

Sanjiv Bajaj, the chairman and managing director of Bajaj Finserv, emphasized the importance of leadership control within the partnerships. He highlighted that the company has been effectively managing its ventures, but is now looking to secure more influence moving forward.

In October, Bajaj Finserv had notified the exchanges that Allianz was considering exiting the joint ventures, where the German firm holds a 26% stake in each. Although the partnerships have been successful, Bajaj suggested that greater control is needed for future growth. This comes alongside recent budget proposals that would allow foreign investors to own 100% of insurance companies in India.

NSE Q3 Results

The National Stock Exchange (NSE) posted strong year-on-year growth in its third-quarter results, though sequential performance was affected by a decline in trading volumes. Consolidated profit after tax (PAT) surged 94% year-on-year to Rs 38.3 bn but registered a modest 22% rise on a quarter-on-quarter basis.

After adjusting for gains from investment sales, Sebi settlement expenses, and the reversal of provision for core SGF recorded in the previous quarter, the normalized profit before tax declined by 3% sequentially.

The Indian markets experienced a bearish trend over the past three to four months, contributing to a slowdown in trading volumes. Additionally, stricter Sebi regulations in the futures and options segment further impacted market activity.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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