Day's Digest - Five stocks to watch out on February 15

The five stocks that may witness some kind of significant movement on Feb 15 in the markets are: FTIL, Ceat Ltd, BOB, IOC and Finolex Industries.

a) Financial Technology India Limited (FTIL): The government ordered the merger of crisis-hit National Spot Exchange Ltd (NSEL) with the company. The final order was passed after a high level meeting chaired by Economic Affairs Secretary Shaktikanta Das that reviewed the steps taken to recover money in the Rs 5,574 crore payment crisis that erupted at NSEL -- part of Jignesh Shah-led FTIL group -- in late 2013. FTIL said “will challenge the merger of order before the Hon’ble High Court at the earliest, and is confident that justice will be done”.

b) Ceat Ltd:  The Company reported 27% yoy growth in consolidated net profit at Rs 113 crore for the quarter ended December 31, 2015 compared with Rs 89 crore in the same quarter last fiscal on the back of lower finance costs. Finance costs for the quarter under review decreased 39% to Rs 19 crore compared with Rs 31 crore in the quarter ended December 31, 2014. Chief Financial Officer, Manoj Jaiswal said "Reduction in average borrowings levels coupled with reduction in interest rates led to interest costs reduction this quarter. Our debt/equity currently stands at a healthy 0.4”. 

c) Bank of Baroda (BOB):  BOB declared poor third-quarter results last week after being pushed by the central bank to set aside money to cover bad loans in a bid to clean up their books. Bank of Baroda's loss of Rs 3,342 crore was the largest ever by an Indian bank. 

d) Indian Oil Corporation (IOC): IOC reported net profit of Rs 3,057 crore in Q3FY16 on higher refining margins, increased profit from petrochemicals and reduced inventory losses. The country’s largest refiner and fossil fuel retailer had posted loss of Rs 2,637 crore in previous year quarter and Rs 329 crore in preceding quarter.

e) Finolex Industries Limited: The Company reported a standalone net profit of Rs 43 crore for the quarter ended December 2015 compared with a loss of Rs 43.8 crore in the quarter ended December 2014. Net sales during the quarter were lower by 15% at Rs 540.9 crore compared with Rs 637.7 crore in the quarter ended December 31, 2014.