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MARKETS

Stocks in Focus: Zee Entertainment, Paytm, Jio Financial Services and Others

The mid-cap and small-cap indices performed well with respective rises of 0.8% and 1.1%.

The GIFT Nifty futures were trading in a flattish range before the market’s opening on Tuesday. Indices are expected to open on a similar flat note.

Domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex slipped on Monday due to selling in index heavyweights amid weak trends from Asian and European markets. Nifty plunged by 82.10 points or 0.38% to 21,771.70, while Sensex fell by 354.22 points or 0.49% to close at 71,731.42.

Here are some stocks that are likely to remain in focus on February 6.

Jio Financial Services: The Reliance Group financial services company has denied being in talks to acquire the crisis-hit One 97 Communications’ Paytm wallet. 

Pidilite Industries: The adhesive manufacturing company has announced the inauguration of a new state-of-the-art manufacturing facility in Sandila, near Lucknow, for its prominent tile adhesive brand, Roff.

Indian Energy Exchange (IEX): The power trading platform posted the highest-ever total monthly volume of 10,893 million units (MU) in January 2024, marking a significant 26.1% year-over-year (YoY) growth.

One 97 Communication (Paytm): Paytm’s parent company has refuted reports of any investigation or violation of foreign exchange rules by the company or its associate, Paytm Payments Bank.

INOX India, Adani Total Gas: The two companies have entered into a mutual support agreement, under which they will mutually designate each other as “preferred partners” for the delivery of Liquefied Natural Gas (LNG) and Liquid to Compressed Natural Gas (LCNG) equipment.

Zee Entertainment Enterprise Ltd (ZEEL): The National Company Law Tribunal (NCLT) is scheduled to hear a plea filed by the media company regarding the recently terminated merger with Sony Group Corp’s Indian subsidiary later today.

Companies announcing their Q3FY24 Results today: Birla Corporation, Brigade Enterprises, Britannia Industries, Computer Age Management Services, Chambal Fertilisers and Chemicals, EID. Parry, EIH Hotels, Eveready Industries India, Go Fashion (India), Gujarat State Fertilizers and Chemicals, Hawkins Cookers, JK Tyre and Industries, Lemon Tree Hotels, NLC India, FSN E-Commerce Ventures, Procter & Gamble Health, Radico Khaitan, Trident, TTK Prestige and Welspun Corp, among others. 

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