GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by 21 points or 0.10% at 21,715. indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained 28.50 points or 0.13% to settle at 21,647.20, while the BSE Sensex ended higher by 63.47 points or 0.09% to 71,721.18.
“Nifty faced selling pressure within the 21700-21750 range, yet found stability as it held above its 10-day moving average, concluding the session with a positive close. Presently, Nifty’s immediate support has shifted to 21600, while 21730 serves as a resistance level on the technical chart. The broader positional support for Nifty remains at 21500,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Stocks to Watch on January 12, 2024
Polycab India
The company refutes claims of communication from the Income Tax department regarding alleged unaccounted cash sales of Rs 1,000 crore and non-genuine expenses.
Tata Power
Tata Power Renewable Energy signs MoU with the Gujarat government for the development of 10,000 MW renewable energy projects in Gujarat.
TCS
The company’s consolidated revenue saw a 1.49% increase, reaching Rs 60,583 crore compared to the previous quarter’s Rs 59,692 crore. However, net profit experienced a modest decline of 2.5%, settling at Rs 11,097 crore as opposed to Rs 11,380 crore. On a positive note, EBIT demonstrated a 4.6% growth, standing at Rs 15,155 crore in comparison to the preceding quarter’s Rs 14,483 crore. The EBIT margin for the quarter improved to 25.01%, up from 24.26%.
Infosys
The company’s revenue stood at Rs 38,821 crore, down 0.45% from the previous quarter’s Rs 38,994 crore. Net profit recorded a 1.64% decrease, settling at Rs 6,113 crore compared to Rs 6,215 crore. EBIT for the quarter was Rs 7,961 crore, reflecting a 4.6% decrease from the previous quarter’s Rs 8,274 crore. The EBIT margin was reported at 20.5%. Infosys will acquire semiconductor design services provider InSemi for Rs 280 crore.
Life Insurance Corp (LIC)
Mumbai tax authorities issue tax demand orders totaling Rs 3,529 crore to LIC.
H.G Infra Engineering
Secures a Rs 716 crore construction order for a 49.45-kilometer broad-gauge railway line in Maharashtra.
UltraTech Cement
UltraTech Cement acquired a 26% stake in Amplus Ages for Rs 49 crore to enhance green energy capabilities and optimize energy costs.
Vedanta
Anil Agarwal reassures investors on the company’s financial stability amid concerns about the debt burden.
Mahindra and Mahindra
Company plans a Rs 630 crore investment in Mahindra Electric Automobile through a rights issue.
Container Corp
Company reports a 6% YoY increase in total volumes, with export-import volumes up 8.3%, and domestic volumes down 1.25%.
Capacite Infraprojects
Capacite Infraproject raises Rs 200 crore via QIP, issuing 79.47 lakh shares at Rs 251.65 apiece, with a 5% discount to the floor price.
HDFC Bank
Shareholders approve the reappointment of Sashidhar Jagdishan as managing director and chief executive officer.
TARC
Company launches ‘TARC KAILASA,’ a luxury residential project spanning 1.7 million sq ft with a gross development value of Rs 4,000 crore.
Bank of Baroda
RBI waives off a penalty amounting to Rs 5 crore to Bank of Baroda
Bhansali Engineering Polymers
Company received environmental clearance from the Rajasthan government for the expansion of ABS resin and saleable SAN Resin at its Sirohi plant, achieving an overall 2,25,000 TPA capacity.
Key Results to watch Today
HCL Technologies, Wipro, HDFC Life Insurance, Anand Rathi Wealth, Just Dial, JTL Industries, Tata Metaliks, Den Networks, Bharat Bijlee.
