The Indian equity markets enter a pivotal session this Wednesday, February 4, 2026, as investors digest a flurry of corporate earnings and strategic institutional moves. With the Nifty 50 and Sensex showing signs of consolidation, market participants are shifting focus toward high-impact stocks including Adani Enterprises, Bajaj Finance, and Varun Beverages. Corporate actions, specifically in the infrastructure and retail sectors, are expected to dictate today’s intraday volatility. From NBCC’s massive new order wins to Aditya Birla Capital’s capital infusion plans, here are the critical stocks to track on the NSE and BSE during today’s trading hours.
Stocks to Watch Today: Key Market Drivers for February 4, 2026
The Indian benchmark indices are expected to witness stock-specific action today as the Q3 earnings season enters its final stretch. Market sentiment remains cautious but selective, with institutional investors reacting to robust order books in the infrastructure space and margin expansions in the consumer goods sector. Analysts are closely monitoring the following companies for significant price movements during the session.
1. Adani Enterprises and Adani Group Stocks
Adani Enterprises remains in the spotlight following reports of strategic asset evaluations and debt restructuring progress. Investors are also tracking related group entities as they continue to demonstrate operational resilience amidst shifting global energy pricing and domestic infrastructure demands.
2. NBCC (India) Limited
NBCC is a primary stock to watch today after the company announced the acquisition of new work orders worth over Rs 500 crore. The state-owned construction major continues to benefit from the government’s aggressive urban development push, making it a key focus for infrastructure-oriented portfolios.
3. Bajaj Finance and Aditya Birla Capital
The NBFC sector is bracing for volatility as Bajaj Finance reacts to its latest liquidity ratios and loan growth projections. Simultaneously, Aditya Birla Capital is in focus following reports regarding its internal restructuring and capital raising initiatives intended to bolster its insurance and lending arms.
4. Varun Beverages (VBL)
Varun Beverages is expected to see increased trading volume following its latest quarterly performance. With the company’s aggressive expansion into international markets and the integration of new territories, analysts are looking for sustainability in its current growth trajectory.
5. IEX and Nazara Technologies
The Indian Energy Exchange (IEX) is under watch as power demand cycles fluctuate, impacting monthly volume data. Meanwhile, Nazara Technologies remains a key focus in the tech space following strategic investment rumors and the ongoing diversification of its e-sports portfolio.
Market Insight: Q3 Earnings Impact
As the December quarter results continue to roll out, companies like Pidilite Industries and V2 Retail are seeing significant shifts in institutional delivery. Margin pressures in the manufacturing sector are being balanced by robust consumer demand, creating a polarized trading environment for mid-cap stocks.
Top 10 Stocks to Watch Today: Feb 4, 2026
| Stock Name | Key Reason for Action |
|---|---|
| Adani Enterprises | Strategic expansion and debt management updates. |
| Bajaj Finance | Q3 asset quality assessment and credit growth. |
| NBCC | Fresh work orders worth Rs 500+ crore. |
| Varun Beverages | Earnings reaction and international territory growth. |
| Pidilite | Input cost analysis and margin performance. |
| Aditya Birla Capital | Fundraising and structural reorganization reports. |
| Nazara Tech | Gaming sector tailwinds and acquisition strategies. |
| V2 Retail | Expansion of store footprint and inventory turnover. |
| IEX | Power trading volume updates for January/February. |
| Sheela Foam | Recent institutional stake changes and pricing power. |
Stocks to Watch: Frequently Asked Questions
Why is NBCC trending today?
NBCC is trending due to the securing of several high-value project management consultancy orders, totaling over Rs 500 crore, strengthening its revenue visibility for the next fiscal.
What is the impact of Q3 results on Varun Beverages?
VBL’s results are being scrutinized for volume growth in the non-carbonated segment and the impact of its recent global acquisitions on its debt-to-equity ratio.
Should investors watch the NBFC sector today?
Yes, with both Bajaj Finance and Aditya Birla Capital making strategic announcements, the NBFC sector is expected to face heightened volatility and institutional rebalancing.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. The Sunday Guardian suggests that readers consult with a certified financial advisor before making any investment or money-related decisions. The stock market involves significant risk.
