GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 101 points or 0.46% at 21,967 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 gained 385 points or 1.80% to settle at 21,737.60, while the BSE Sensex closed 1,240.90 points or 1.76% lower to 71,941.57.
Stocks to Watch on January 30, 2024
ITC
Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Hindustan Zinc, Suzlon Energy, Glenmark Pharma, Hindustan Aeronautics, Vedanta Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC
On Monday, the company reported its third-quarter earnings for the financial year 2023-24 with profit at Rs 5335.23 crore, up 8.9% against Rs 4898.07 crore during the corresponding quarter of last year, surpassing estimates. It posted revenue from operations at Rs 19,484.50 crore, marginally higher than Rs 19,270.02 crore during the third quarter of FY23.
Marico
The company posted Q3 FY24 net profit of Rs 386 crore, up 15.9% against Rs 333 crore during the third quarter of FY23, surpassing estimates. It posted a revenue from operations at Rs 2,422 crore, down 1.9%.
Vodafone Idea
On Monday, the company reported a narrowing of losses to Rs 6,986 crore in the third quarter of the current fiscal. The revenue from operations for the ailing telco came in at Rs 10,673.1 crore, nearly flat over the corresponding period previous year.
Piramal Enterprises
The company on Monday posted a surprise consolidated loss of Rs 2,378 crore in the December quarter as it has made provisioning for its exposure to alternative investment funds (AIFs). The company posted a bottom line of Rs 3,545 crore a year ago.
Bharti Airtel
has added 3.98 million 4G/5G users in November, which is the highest in 27 months, according to data from the Telecom Regulatory Authority of India (Trai). Out of the total 379.8 million subscribers, the company’s wireless broadband, which largely includes 4G subscribers at the end of November were at 255.07 million, compared to 251.1 million in October, Trai data showed.
Bajaj Finance
On Monday, the company posted a consolidated net profit of Rs 3,638.95 crore for the quarter ending December, up 22.4% from the same quarter of the previous year, in line with the Street estimates. The net interest income of the company stood at Rs 7,655 crore for the quarter against Rs 5,922 crore, up 29% year on year.
Hindustan Unilever
In a setback to over 100 companies, including Hindustan Unilever (HUL), Nestle, Patanjali, and Philips, the Delhi High Court on Monday upheld the anti-profiteering provisions under the Central Goods and Services Tax (CGST) Act and rules. The court said relevant sections of the law provide that any reduction in the rate of tax or the benefit of input tax credit (ITC) shall be passed on to the consumers by way of “commensurate reduction in prices”. Any wilful action of not passing on the benefits will be treated as ‘profiteering’.
Aditya Birla Sun Life
Aditya Birla Sun Life AMC on Monday reported a 26% rise in its net profit to Rs 209.34 crore in the December quarter. In comparison, the company had posted a net profit of Rs 166.3 crore in the same quarter of the preceding fiscal, the asset management firm said in a regulatory filing. Total income grew to Rs 420.96 crore in the quarter under review as against Rs 363.17 crore in the October-December period of the preceding fiscal (2022-23).
KEC International
The company has secured new orders worth Rs. 1,304 crores. The company has secured orders for T&D projects in India, SAARC, and America. The orders are a 765 kV Transmission line and 765 kV GIS Substation orders in India from Power Grid Corporation of India Limited, a 220 kV Transmission line order in SAARC, and a supply of towers, hardware, and poles in America.
Cambridge Technology
The Company has completed the acquisition of Appshark Software for Rs 42.2 crore.
Karnataka Bank
The bank has signed a MOU with Northern Arc Capital enabling the bank to offer customer-centric financial solutions to retail borrowers, said the bank in an exchange filing. “This collaboration will allow bank to digitally onboard various NBFCs, to lend significant amount of money, and onboard a larger customer base as a result of their better consumer outreach,” according to the filing.
Listings today
EPACK Durable Limited, Konstelec Engineers Limited, Euphoria Infotech India Limited, Addictive Learning Technology Limited.
Key earnings today
Bajaj Finserv, Adani Total Gas, Dr Reddys Laboratories, Bajaj Holdings & Investment, Astral Limited, Coromandel International, Apar Industries, Cochin Shipyard, Gillette India, Blue Star, Arvind, ADF Foods Industries, Dwarikesh Sugar Industries, Asian Granito India, Cheviot Company, Asahi Songwon Colors, Compucom Software, AksharChem (India), Bharat Gears, Akshar Spintex, Larsen & Toubro, PB Fintech, KPIT Technologies, Mahindra & Mahindra Financial Services, JBM Auto, Kaynes Technology India, KEC International, Keystone Realtors, Jubilant Ingrevia, Jaiprakash Associates, J Kumar Infraprojects, IRB InvIT, Johnson Controls -Hitachi Air Conditioning India, Indian Metals & Ferro Alloys, Meghmani Organics, New Delhi Television, M K Proteins, Kaya, Omax Autos, Heads UP Ventures, SRF, Star Health & Allied Insurance Company, Shyam Metalics & Energy, Piramal Pharma, Vaibhav Global, SIS, Triveni Engineering and Industries, Symphony, Strides Pharma Science, TeamLease Services, Subros, Shanthi Gears, Suven Life Sciences, Sadhana Nitrochem, Urja Global, Texmaco Infrastructure & Holdings, Sukhjit Starch and Chemicals, Rane Brake Linings, Pudumjee Paper Products Limited, Tokyo Plast International, Voltas, ZF Commercial Vehicle Control Systems India, VIP Industries.
