Stocks To Watch: State Bank, Biocon, HCL Technologies

The domestic stock markets are likely to open in the green, continuing with the momentum witnessed since Budget Day, due to positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 52-points gain. At 7:30 am, the Nifty futures were trading at 14,947, higher by 52 points or 0.47 per cent, on the Singapore Stock Exchange.

On Thursday, the S&P BSE Sensex had climbed 358.54 points to 50,614.29 and NSE Nifty had risen 105.70 points to 14,895.70.

Here are the stocks to watch in today's trading (February 5, 2021)

State Bank of India

The country's largest lender, State Bank of India, on Thursday said that its net profit in quarter ended December 2020 fell 7 per cent annually to Rs 5,196 crore from Rs 5,583 crore during the same quarter last year. SBI's profit was hurt by higher provisions and a dip in income from its corporate banking operations.

Stove Kraft

Stove Kraft shares will be listed on the bourses on February 5, 2021.

Biocon

Biocon had signed an agreement with the Clinton Health Access Initiative (CHAI) to expand access to lifesaving cancer biosimilars in over 30 countries in Africa and Asia.

HCL Technologies

HCL Technologies has signed a five-year digital workplace services agreement with Airbus. As part of the deal, HCL will create a modernized digital workplace to enhance the user experience and service quality for a majority of Airbus employees globally. The financial details of the deal have not been disclosed.

Hindustan Petroleum Corporation Limited (HPCL)

Hindustan Petroleum Corporation Limited has reported an over three-fold rise in net profit to Rs 2,355 crore for the December quarter against a net profit of Rs 747 crore in the year-ago period. The company's revenue from operations, however, declined 2 per cent year-on-year from Rs 70,042.2 crore.