Stocks to watch, February 6: Swiggy, Welspun Corp, Kansai Nerolac, Reliance Power, Info Edge, IndiGo and more

The Indian equity benchmark indices are expected to open higher on Thursday amid positive global market cues.

The Gift Nifty was trading around 23,810 level, a premium of nearly 35 points from the Nifty futures’ last close.

The US markets ended with gains and with all three major stock indices closing in positive territory. The Dow Jones Industrial Average rose 317.24 points, or 0.71%, to 44,873.28, the S&P 500 rose 23.60 points, or 0.39%, to 6,061.48 and the Nasdaq Composite rose 38.32 points, or 0.19%, to 19,692.33.

However, the Asian markets remained mixed on Monday morning as Japan’s Nikkei rose 56 points, Hong Kong’s Hang Seng Index fell 39.31 points, and Korea’s Kospi index increased 18.51 points.

EBITDA loss for the reporting quarter was at ₹725.66 crore, up from ₹554.17 crore in Q2 FY25.

Revenue of Swiggy Instamart (quick commerce segment of the company) increased by 17.7% QoQ to ₹576.50 crore as against ₹490 crore in the previous quarter. Swiggy's food delivery business revenue was at ₹1,636.8 crore, up 3.8% QoQ from ₹1,577.47 crore in Q2 FY25.

However, the company's total income fell by 23.15% to ₹3,656.57 crore, down from ₹4,758.17 crore posted in Q3 FY24.

Its total income increased to ₹683.44 crore, up from ₹43.48 crore in Q3 FY24.

The company's total income increased by 3% year-on-year (YoY) to ₹1,600 crore, and its expenses jumped 12.4% YoY to ₹1,566.76 crore during the reporting quarter.

Reliance Power's total income rose to ₹2,159.44 crore during the quarter from ₹1,998.79 crore a year ago. Expenses stood at ₹2,109.56 crore, lower as against ₹3,167.49 crore in third quarter of the preceding financial year.

The share split is aimed at enhancing the liquidity of company's equity shares and encouraging participation of retail investors by making shares of the company more affordable, according to a statutory filing by Info Edge.

The revenue from operations on a consolidated basis was nearly 15% higher at ₹722.3 crore in Q3FY25. The Q3FY25 net profit attributable to equity holders of parent stood at ₹242.59 crore, up 61% as compared to same period previous year.

According to the filing, the penalty order was passed on February 4.

Of this, ₹113.02 crore pertains to services provided to offshore recipients, which the goods and services tax (GST) authorities did not consider as "export of services", and denied input tax credit on certain services for FY18, FY19, and FY20 while the remaining ₹2.84 crore penalty is on account of denial of input tax credit (ITC) for FY18, FY19, and FY20, as per the filing.