Stocks to Watch: Market will keep an eye on these shares including HDFC Bank, SBI Cards, Adani Power, Coal India, see list
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Stocks to Watch TodayForgetting the big fall of last week, the Indian stock market can make a good start in the new trading session amid strong signals from the global market. Despite the latest surge in crude oil prices, at 7:30 am Nifty was at 21,641, up 150 points from its last close. Crude oil futures rose 0.65 percent to $84 a barrel as Iran-backed militants carried out separate attacks targeting a tanker in the Red Sea and killing three US soldiers in Jordan. However, shares in Asia maintained their gains. Japan’s Nikkei was up 0.8 percent. Australia’s S&P/ASX 200 rose 0.35 percent. The Kopsi in South Korea and the Hang Seng in Hong Kong jumped more than 1 percent. This week, investors’ attention is focused on the US Fed’s rate results on January 31 and the interim budget on February 1. Meanwhile, the market will keep an eye on these stocks.
Results of these companies will come today: ITC, Bajaj Finance, NTPC, GAIL, BPCL, Vodafone Idea, Adani Green, Marico and Bharat Electronics, among others.
HDFC bank: RBI has given approval to LIC to increase its stake in the lender to 9.99 percent from the current 5.19 percent.
sbi card: Its third quarter profit increased by 7.8 percent on annual basis to Rs 549 crore. Revenue for the quarter increased 31.8 percent year-on-year to Rs 4,622 crore.
Adani Power: Its third quarter net profit rose to Rs 2,738 crore from Rs 8.8 crore a year ago, an increase of more than 300 times. Consolidated revenue increased by 67.3 percent year-on-year to Rs 12,991 crore. It has also entered into an agreement to sell two wholly owned subsidiaries to AdaniConnex Pvt. for Rs 540 crore. It will sell Avisida Infra Park Limited for Rs 190 crore and Innovent Buildwell to AdaniConnex for Rs 350 crore.
Tata Technologies: Its third quarter profit increased by 14.7 percent on annual basis to Rs 170.22 crore. Revenue also increased by 14.7 percent on an annual basis to Rs 1,289.5 crore.
Vedanta: It has reported an 18.3 percent decline in third quarter profit at Rs 2,013 crore compared to a year ago. It made an extraordinary profit of Rs 903 crore in Q3FY23. In the quarter under review, revenue increased by 4.2 percent on an annual basis to Rs 35,541 crore.
Coal India: It has emerged as the lowest bidder for the 300 MW solar project in Khavra, Gujarat. According to the government, Coal India and its subsidiary Western Coalfields have identified four to five closed mines in the Chhindwara Pench area to set up green projects for optimum utilization of the assets.
DLF: It will acquire 29 acres of land in Gurugram from IREO to build a housing project after taking over bad loans of Rs 825 crore related to the land.
Laurus Labs: The company will form a 49:51 joint venture with Slovenia’s Krka Pharma in Hyderabad.
SJVN: It has won the auction by Gujarat Energy Development Corporation for 100 MW solar project at Rs 2.54 per unit on build-on and operate basis through tariff based competitive bidding process.
Strides Pharma: Its Singapore unit has received US FDA approval for Pregabalin capsules.
Dhanlaxmi Bank: The bank has received RBI approval to extend the tenure of JK Shivan as Managing Director and Chief Executive Officer till his successor takes over.
yes bank:The Board has approved the transfer of investment banking and merchant banking business from Yes Securities to the company, effective from January 1. Shilpa Medicare: Europe GMP inspected its facility at Jadcherla, Telangana by AGES, Austria from 22nd January to 26th January. Concludes with two short remarks.
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