Stocks to watch, February 13: ONGC, Tata Power, Muthoot Finance, Kotak Mahindra Bank, Hindalco, MMTC, Bharat Forge, and more

At 07:55 AM, the GIFT NIFTY futures were trading at 23,134.50 levels, up 56 points, or 0.24%. This suggests that the NIFTY50 index will open 10 points higher.

On the global front, US stocks ended mixed. A hotter-than-expected US inflation reading added to worries that the Federal Reserve would not cut interest rates soon.

The S&P 500 declined 0.27% to end the session at 6,051.97 points.

The Nasdaq gained 0.03% to 19,649.95 points, while the Dow Jones Industrial Average declined 0.50% to 44,368.56 points.

On Thursday, oil prices dropped, having been down more than 2% overnight.

In Asia, EURO STOXX 50 futures climbed 1%, Nasdaq futures rose 0.4%, and S&P 500 futures gained 0.2%. Japan's Nikkei gained 1.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3%.

ONGC has been stringing around deals in clean energy as part of its target to scale renewable energy capacity to 10 gigawatts by 2030, a part of its target to achieve net zero carbon emissions by 2038.

Besides solar and wind energy projects, ONGC is looking at round-the-clock renewable power capacity to meet this target.

The Reserve Bank also permitted the private sector lender to issue fresh credit cards.

The RBI in April 2024 had directed the lender to cease and desist from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards.

Subsequently, the bank initiated remedial measures to address the supervisory concerns and submitted compliance to the Reserve Bank, the central bank said in a statement on Wednesday.

The company had posted a consolidated net profit of ₹65.71 crore in the third quarter of last fiscal, said Jubilant FoodWorks Ltd. (JFL), which holds franchise rights for global brands Domino's, Popeyes, and Dunkin', in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at ₹2,150.76 crore. It was at ₹1,378.12 in the October-December quarter last fiscal, it added.

The company's revenue from operations increased 15% to ₹1,256 crore against ₹1,091.9 crore in the year-ago period.

At the operating level, EBITDA tanked 34% YoY to ₹101.9 crore in the third quarter of this fiscal over ₹154.5 crore.

ICICI Bank holds a 51% stake in ICICI Prudential Asset Management Company, while the remaining 49% is with its joint venture partner, UK-based Prudential PLC.

The company's revenue from operations, meanwhile, jumped 36% year-on-year to ₹5,190 crore during the reported quarter. It had earlier reported revenue from operations at ₹3,820 crore in the corresponding quarter of FY24. Muthoot Finance's interest income also significantly surged to ₹5,067 crore.

The company had posted a profit of ₹254.45 crore in the third quarter last fiscal, Bharat Forge Ltd (BFL) said in a regulatory filing.

Revenue from operations in the quarter under review stood at ₹3,475.55 crore as against ₹3,866.4 crore in the corresponding period last fiscal, it added.

The construction engineering company reported a net profit of ₹78 crore in the year-ago period, according to a regulatory filing. Revenue from operations jumped 11% to ₹2,245 crore from ₹2,017 crore in the third quarter of last year.

On the operating side, earnings before interest, tax, depreciation, and amortisation grew to ₹206 crore, marginally higher than ₹205 crore a year ago.

The company had posted a net profit of ₹97.04 crore in the year-ago period, a BSE filing showed.

Total expenses declined to ₹3,198.08 crore in the quarter from ₹3,285.25 crore in the same period a year ago.

Its net profit stood at ₹18.48 crore in the October-December period a year ago.

Total income also fell to ₹179.87 crore in the third quarter of this fiscal compared to ₹240.57 crore in the corresponding period of the preceding year, according to a regulatory filing.

The company had posted a net loss of ₹62.89 crore for the year-ago period.

Total income rose to ₹369.28 crore from ₹83.70 crore in the corresponding period of the preceding year, the company said in a regulatory filing on Tuesday.