Stocks to Watch: February 17 – Key Focus Areas for Investors

As the domestic equity market braces for a likely red opening on Monday, February 17, investors are advised to keep an eye on several stocks that could influence market sentiment throughout the day. As of 7:50 AM, GIFT NIFTY futures were trading at 22,975 points, indicating a potential 21-point decline for the NIFTY50 index. Asian markets are largely in a state of flux, awaiting clearer direction following the Wall Street holiday. Below is a roundup of stocks to watch closely as the market opens.

Godrej Properties: Expanding Land Bank Amid Strong Demand

Godrej Properties remains in the spotlight after acquiring 12 land parcels during the April-December period of the current fiscal year. The company is looking to develop housing projects worth ₹23,450 crore, reflecting its continued growth trajectory in the real estate sector. With strong consumer demand for housing, Godrej Properties is aiming to expand further by acquiring more land in the ongoing quarter. Investors should keep an eye on this stock for updates on new land acquisitions and business development strategies.

Pirojsha Godrej, the Executive Chairperson of Godrej Properties, mentioned that business development was particularly strong during the December quarter, signaling sustained momentum in the real estate sector. The company’s ability to secure and develop land in high-demand regions could make it a key player in the real estate market moving forward.

EaseMyTrip: Decline in Q3 Profit Raises Concerns

EaseMyTrip, a leading online travel booking platform, reported a decline in its consolidated net profit to ₹34 crore for the quarter ended December 2024, down from ₹45.68 crore in the same period last year. The total income also decreased to ₹153.81 crore from ₹165.30 crore in the previous year. The reduction in profits amid ongoing challenges in the travel sector could weigh on the stock, and investors will likely monitor this company for signs of a recovery in the coming quarters. The decline in profit raises concerns regarding the broader market conditions affecting online travel services.

GlaxoSmithKline Pharmaceuticals: Robust Profit Growth

On a more positive note, GlaxoSmithKline Pharmaceuticals (GSK) reported impressive earnings growth for the third quarter ended December 31, 2024. The pharmaceutical company’s net profit surged more than fivefold to ₹229 crore, compared to ₹45 crore in the same period of the previous year. Revenue from operations also rose to ₹949 crore, up from ₹805 crore in the corresponding quarter of the previous fiscal. This strong performance underscores GSK’s potential in the pharmaceutical sector, and investors may view it as a strong growth opportunity amidst the challenges in other sectors.

Reliance Industries: Setback in Arbitration Case

Reliance Industries (RIL), led by Mukesh Ambani, is facing a setback after the Delhi High Court overturned an international arbitration tribunal’s ruling. The ruling had previously stated that Reliance and its partner BP Plc were not liable for compensation related to gas that allegedly migrated from adjoining fields. This development could lead to additional scrutiny of Reliance’s ongoing business activities, particularly in the energy sector. Investors should watch how the company responds to this legal hurdle and whether it affects its financial outlook.

Other Key Stocks in Focus

Several other companies are also likely to remain in focus on February 17:

• Uno Minda: As a prominent player in the auto components sector, Uno Minda may see attention from investors following any updates related to the automotive industry and production.
• ABB India: ABB India continues to be a strong player in the capital goods sector, and updates regarding new orders or contracts could impact stock performance.
• Glenmark Pharma: Investors may watch Glenmark Pharma for any developments in its pharmaceutical pipeline, particularly regarding its ongoing drug approvals and sales performance.
• BHEL: As a major player in the power sector, BHEL is likely to remain in focus due to any updates on infrastructure projects or government tenders.
• Hero MotoCorp: With the automotive sector still recovering, Hero MotoCorp could see stock movements based on updates regarding sales figures and production levels.
• Steel Stocks: Given fluctuations in global commodity prices, steel stocks may experience volatility depending on market conditions and demand forecasts.
• RVNL (Rail Vikas Nigam Limited): RVNL, a key player in the Indian railway infrastructure sector, is likely to remain in focus if there are updates on government projects or tenders.