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By EquityPandit

MARKETS

Stocks in Focus: Lupin, Godrej Properties, Tata Chemicals, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.16% higher by 37.50 points at 23,556.50, indicating that the domestic benchmark indices are likely to make a positive start on Tuesday. 

On Monday, 3 February, Domestic benchmark indices S&P BSE Sensex slumped by 319 points or 0.41% and settled at 77,186, while the Nifty50 traded 0.52% lower by 121 points, settling at 23,361.

Here are some stocks that are likely to remain in focus on 4 February.

Quarterly Results Today: Asian Paints, Tata Power, Torrent Power, Metropolis Healthcare, J.B. Chemicals & Pharmaceuticals, Eris Lifesciences, Godrej Properties, Bajaj Electricals, JK Tyre & Industries, Happiest Minds Technologies, Apollo Micro Systems, Infibeam Avenues, Birla Corporation, Everest Industries, Dhanlaxmi Bank, Muthoot Capital Services, Automotive Axles, Global Health, Ajmera Realty & Infra India, Azad Engineering, and PC Jeweller are some of the prominent companies set to announce their quarterly earnings for October-December. 

Lupin: The pharma major has been slapped with a Rs 3.55 crore penalty from the Maharashtra GST Authority over wrongful Input Tax Credit claims, and the company has announced its plans to appeal the decision. 

Godrej Properties: With the aim of strengthening its position in the real estate business, the company has announced that it will acquire a 100% stake in Pearlshine Home Developers, making it a wholly owned subsidiary.

Tata Chemicals: In its quarterly earnings for the October-December quarter, the company reported a net loss of Rs 21 crore for the quarter under review compared to Rs 194 crore net profit reported during the same quarter last year. 

Mahanagar Gas: The company has announced acquiring a 4.4% stake in International Battery Company India Pvt Ltd for a total consideration of Rs 35.36 crore. 

Power Grid Corporation: For the quarter ended 31 December, the company reported a decline in net profit to Rs 3,860 crore for the quarter compared to Rs 4,030 crore reported in the same quarter last year. 

Castrol India: The company has announced a stock split for a ratio of 1:5, wherein one share with a face value of Rs 10 will be split into five shares with a face value of Rs 2 each. The company also reported a net profit of Rs 270 crore for the quarter that ended 31 December, compared to Rs 240 crore reported in the same quarter last year. 

Premier Energies: The net profit of the company for the quarter ended 31 December grew more than fivefold to Rs 250 crore for the quarter compared to Rs 43.2 crore reported in the same quarter of the previous fiscal year.

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