Market News: Stocks to Watch & Trade Setup

Market News Today: Stocks to Watch and Trade Setup for February 5

Today’s market updates bring important news for investors. Several companies are making headlines, impacting the market and investor decisions. Let’s dive into the details.

Tata Power’s Strong Q3 Performance

Tata Power Co. reported an 8% rise in consolidated net profit for the third quarter, exceeding market analysis and expectations. This positive business news has put the company on investors’ radar.

Lupin’s Tentative FDA Approval

Lupin clarified recent reports, stating that they received tentative approval from the US FDA for their generic HIV drug application. This clarification is crucial for investors following the company’s latest updates.

ICICI Prudential Life Insurance Co. Faces Notice

ICICI Prudential Life Insurance Co. received a show-cause notice demanding Rs 492.06 crore for the period from July 2017 to July 2022. The notice, issued by the additional commissioner, Central Goods And Services Tax and C.Ex, Palghar Commissionerate, Maharashtra, is a significant development.

Axis Max Life Insurance Plans Listing

Axis Max Life Insurance’s board approved a listing roadmap, paving the way for the company’s public listing. This move aligns with the directions of the Insurance Regulatory and Development Authority of India (IRDAI).

Rail Vikas Nigam Secures New Contract

Rail Vikas Nigam won a Rs 404.4-crore contract from East Coast Railway for a road doubling project. The contract award followed the receipt of a letter of acceptance.

NLC India Wins Coal Mine Bid

NLC India emerged as the winning bidder for a coal mine in Angul, Odisha, with substantial geological reserves totaling 720.87 million tonnes. This win is a significant boost for the company.

Alkem Labs Launches New Product

Alkem Labs introduced Kojiglo serum in India, targeting the management of facial hyperpigmentation. This new product launch expands the company’s offerings in the market.

Ujjivan Small Finance Bank Seeks Universal Banking Licence

Ujjivan Small Finance Bank formally applied to the Reserve Bank of India for a universal banking licence, a move that could significantly reshape its business operations.

Affle India’s Patent Grant

Affle India secured another patent in India, further strengthening its intellectual property portfolio. The patent relates to a system for switching and handover between intelligent conversational agents.

Trade Setup and Stocks Going Ex-Trade

Traders are advised to buy on dips if Nifty 50 holds 23,630 levels. Several stocks are going ex-trade, including Castrol India, Coromandel International, GTV Engineering, Indian Metals & Ferro Alloys, Dr. Lal Path Labs, Manba Finance, MAS Financial Services, Shree Cement, SMC Global Securities, and Sona BLW Precision Forgings. Thinkink Picturez will be trading ex-bonus with a bonus issue of 2:1.

Staying Updated with Market Trends

Keeping up with the latest market analysis, business news, and global updates is essential for making informed investment decisions. These updates provide valuable insights into market movements and emerging trends.

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