Stocks To Watch: NALCO, Oil India, Hindustan Copper, RailTelCorp, BEL & More

On Wednesday, 14th February stocks like BEL, NALCO, Oil India, IRCTC and GOCL Corporation are among the top 8 stocks going to be in focus of the market watchers.

Bharat Electronics Limited

On February 13th, 2024, Navaratna DPSU Bharat Electronics Limited (BEL) and the Indian Navy inked a deal for Rs. 2,167.47 Crs. plus taxes for the delivery of state of the art indigenously designed and developed EW suite for use on-board warship.

This EW suite represents a significant advancement for BEL's Aatmanirbhar Bharat programme. Since the last declaration on January 31, 2024, the firm has received additional orders totalling Rs. 114.59 Crs. These orders are related to the delivery of SDRs, HD VLF receivers, EVMs, and other products. In light of the aforementioned, BEL has received orders totalling Rs. 30,776.06 Crs. for the current fiscal year.

RailTel Corporation of India

Prasar Bharati Broadcasting Corporation of India has awarded RailTel Corporation of India Ltd a work order for design, development, implementation, operations, and maintenance in the amount of Rs. 1,39,73,56,000 (IncludingTax).

GOCL Corporation

The Hinduja Group company GOCL Corporation Limited released its Q3 financial results for the fiscal year 2023-24 on Tuesday. The company's net profit was Rs 15 crores, while its income was Rs 230 crores. By attaining a consolidated income for the quarter of Rs 230 crores and for the nine months of the year of Rs 712 crores, with a PAT of Rs 15 crores and Rs 43 crores for the third and nine months, respectively, the firm showed its resilience and strategic efficacy in the third quarter.

Gujarat Gas

In comparison to the Rs. 3,991 Crore for the quarter ended September 30, 2023, the company recorded revenue from operations of Rs. 4,084 Crore during the quarter ended December 31, 2023. For the current quarter, the net profit is Rs 220 crore, down from Rs 298 crore for the quarter that ended on September 30, 2023. The company's sales volumes climbed by 26% to 9.16 mmscmd for the quarter that ended on December 31, 2023, from 7.29 mmscmd for the quarter that ended on December 31, 2022. Industrial sales volumes rose by 36% from 4.05 mmscmd for the quarter ending December 31, 2022, to 5.53 mmscmd for the quarter ending December 31, 2023. For the quarter that ended on December 31, 2023, the company had its highest average CNG sales ever (2.78 mmscmd, up 14% from the same period the previous year).

Hindustan Copper

Hindustan Copper, a state-owned company, announced on Tuesday that its consolidated net profit for the quarter that ended on December 31, 2023, was down 21.44 percent to Rs 63 crore. Hindustan Copper stated in a statement to the BSE that the company reported a net profit of Rs 80.20 crore for the same period last year. The quarter's revenue from operations fell to Rs 399.29 crore from Rs 557.04 crore during the same time last year. In comparison to the same period the previous year, mine production of metal-in-concentrate and copper ore climbed by approximately 5% and 21%, respectively, during the nine months that ended in December 2023.

Oil India

The firm reported a net profit of Rs 1,584.3 crore on Tuesday, which was up from the previous quarter's Rs 325.3 crore. The company's sales dropped by 0.3% to Rs 5,323.7 crore in Q3FY24 from Rs 5,342.3 crore in the previous quarter. The realisation of the price of crude oil for the nine months that ended on December 31, 2023, was US$ 82.89/bbl, as opposed to US$ 100.27/bbl for the same period the previous year. Operationally, OIL produced 2.511 MMT of crude oil, up 5.68% from 2.376 MMT during the same time the previous year.

NALCO

The state-owned corporation said on Tuesday that its net profit for the third quarter ending December 31, 2023, jumped by 83.6% YoY to Rs 470.6 crore. NALCO reported making a net profit of Rs 256.3 crore during the same period the previous year. The company's revenue from operations rose 1.5% to Rs 3,346.9 crore from Rs 3,297.2 crore during the same period in the previous fiscal year. Additionally, NALCO declared a second interim dividend for the fiscal year 2023-2024 of Rs. 2 per share.

IRCTC

The firm said that its net profit for the quarter that ended on December 31, 2023, climbed 17.4% YoY to Rs 300 crore. In the same quarter a year prior, the company declared a net profit of Rs 255.5 crore. In comparison to Rs 918.1 crore recorded in Q3FY23, IRCTC's revenue for Q3FY24 jumped by 21.8% YoY to Rs 1,118.3 crore.