Stocks to Watch Today – February 2: ITC, BSE, Groww, HDFC Bank, ICICI Bank, IRCTC and More
Indian equity markets are expected to remain active in today’s session as several stocks come into focus amid Union Budget announcements, policy changes, sectoral developments, corporate actions, and quarterly earnings updates. Tobacco, capital market, railway, banking, auto, mining, tourism, and telecom stocks are likely to see heightened investor interest.
Tobacco Stocks in Focus
ITC, Godfrey Phillips, VST Industries, NTC Industries, Elitecon International
Tobacco-related stocks may react to the implementation of higher excise duties on cigarettes and tobacco products. Additionally, a new health and national security cess on pan masala, effective from February 1, could impact sentiment across the sector.
Capital Market & Exchange-Related Stocks
BSE, Groww, Angel One, NSDL
Capital market stocks remain in focus after the government increased the Securities Transaction Tax (STT) on Futures and Options to 0.05% from 0.02%. The segment witnessed sharp selling in the previous session, and further volatility cannot be ruled out.
Railway Stocks
IRFC, RVNL, IRCTC, CONCOR, IRCON
Railway-related stocks may see action after the Union Budget allocated ₹2.77 lakh crore to Indian Railways, marking the highest-ever budgetary allocation for the sector.
Banking Stocks
HDFC Bank, ICICI Bank, SBI, Axis Bank
Banking stocks are expected to be watched closely as the government announced record gross market borrowing of ₹17.2 lakh crore for FY27. Net borrowing stands at ₹11.7 lakh crore, largely in line with market expectations.
Hero MotoCorp
Strong Sales Performance
Hero MotoCorp reported robust growth in sales, with total volumes rising 26% year-on-year to 5.57 lakh units. Domestic sales grew 26.1% to 5.20 lakh units, while exports increased 23.5% to 37,663 units.
MOIL
Joint Venture Approved
MOIL’s board has approved the formation of a joint venture with Madhya Pradesh State Mining Corporation for manganese ore mining operations in the state.
Blue Star
Data Security Update
Blue Star disclosed that it detected unauthorised access to certain product installation data. The company stated that immediate corrective steps were taken to secure systems and restrict access.
Tourism Finance Corporation of India
Investment Decision
The company has approved an investment of up to 5% of its corpus in Oxyzo Credit Fund I, a Category II Alternative Investment Fund focused on diversified debt opportunities.
India Homes
Stake Purchase
Lloyds Enterprises acquired 71 lakh shares (1.78% equity stake) in India Homes at ₹13.8 per share, amounting to a total transaction value of ₹9.79 crore.
BSNL
Higher Budget Allocation
BSNL will remain in focus after the government proposed a 38% higher telecom outlay of ₹73,990 crore, with ₹28,473 crore earmarked for BSNL towards network expansion and spectrum rollout.
Results to Watch Today
The following companies are scheduled to announce their quarterly earnings later today:
Hyundai Motor India, Indus Towers, PB Fintech, Aarti Industries, Akzo Nobel India, Ather Energy, Awfis Space Solutions, Bajaj Housing Finance, Chalet Hotels, City Union Bank, Mahindra Lifespace Developers, Olectra Greentech, among others.
(Disclaimer: The content above is provided solely for informational purposes and should not be treated as investment advice. SmartInvestment advises readers to consult a qualified financial advisor before making any investment or money-related decisions.)