Stocks To Watch Today: For the third consecutive day on Thursday, benchmark indices Sensex and Nifty experienced a decline, primarily influenced by sustained selling in HDFC Bank and profit-taking in consumer durables and utility shares.
The 30-share BSE Sensex dropped by 313.90 points or 0.44 percent, settling at 71,186.86. It witnessed a significant decline of 835.26 points or 1.16 percent throughout the day, reaching 70,665.50.
The Nifty recorded a decline of 109.70 points or 0.51 percent, closing at 21,462.25. On the day, it saw a substantial plunge of 286.4 points or 1.32 percent, reaching 21,285.55.
On January 19, the indices are expected to open flat, as per trends in the GIFT Nifty, indicating a subdued start for the broader index with a gain of 7 points.
Here’s a slew of stocks that will be in focus on January 19 for various reasons;
Reliance Industries: The quarterly results for Q3FY24 of Reliance Industries Ltd, owned by Mukesh Ambani, will be disclosed on Friday, January 19.
Paytm: One 97 Communications, the parent company of the fintech firm Paytm, is anticipated to reveal robust revenue growth, coupled with a reduction in net losses during the third quarter of FY24.
Tata Consultancy Services: The ex-dividend date for the IT company’s shares is set to commence on January 19. On January 11, the company declared an interim dividend of Rs 9 per share, along with a special dividend of Rs 18 per share for the ongoing financial year.
Wipro: The IT services firm has entered into a conclusive agreement to acquire a 14 percent equity stake in Huoban Energy 11 for Rs 3.17 crore. This arrangement will enable Wipro to increase the percentage of renewable energy utilisation for its offices in Maharashtra.
State Bank of India: On Thursday, State Bank of India raised Rs 5,000 crore by issuing 10-year AT-1 bonds.
REC: The Government of India’s Ministry of New and Renewable Energy (MNRE) has appointed REC as the primary agency for implementing the rooftop solar (RTS) program. The MNRE is tasked with the execution of the program or scheme it formulates, as well as coordinating with stakeholders nationwide.
HCLTech: The shares of the IT major will become ex-dividend on January 19. On January 12, the company announced an interim dividend of Rs 12 per share for the fiscal year 2024, and the record date for the payment of this interim dividend is scheduled for January 20.
NHPC: The company has chosen to exercise the oversubscription option by an additional 10,04,50,348 equity shares (equivalent to a 1 percent stake), in conjunction with the base offer size of 25,11,25,870 equity shares (representing 2.50 percent of the paid-up equity) on January 19. Consequently, the total offer size will now amount to 35,15,76,218 equity shares, constituting 3.50 percent of the company.
Power Finance Corp: The corporation established two special-purpose vehicles for the development of transmission projects in Gujarat and Rajasthan.
Indian Bank: The public sector bank has obtained approval from the Reserve Bank of India to establish a new wholly-owned subsidiary focused on operations support.
Bandhan Bank: RBI has approved the appointment of Rajinder Kumar Babbar as Whole-Time Director (to be officially titled as Executive Director) of Bandhan Bank for a tenure of three years.
Poonawalla Fincorp: The non-banking finance firm has recorded a 76.3 percent year-on-year increase in net profit, reaching Rs 265.1 crore for the October–December period of the fiscal year 2024.
Lupin: The pharmaceutical company has obtained clearance from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application, allowing the launch of Febuxostat tablets in the US.
IndusInd Bank: The private sector bank has reported earnings for the quarter ending December FY24, surpassing expectations slightly. Standalone net profit increased by 17.3 percent year-on-year to Rs 2,297.9 crore, and net interest income rose by 17.8 percent to Rs 5,295.6 crore.
Hindustan Unilever: The FMCG giant has finalised transaction documents for acquiring a 27.73 percent stake in the special purpose vehicle (SPV) Transition Sustainable Energy Services One.
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