Stocks to Watch on Saturday, January 20: The Indian equity markets are conducting a normal trading session today, and will remain shut on Monday, January 22, after the Maharashtra government announced a holiday that day in connection with the consecration of the Ram Temple in Ayodhya.
Overnight, the S&P 500 closed at an all-time high on Friday as investors returned to buying equities. It climbed 1.23 per cent to settle at 4,839.81, surpassing both the prior record intraday and closing highs from January 2022.
Meanwhile, the Dow Jones Industrial Average, which set its own record at the end of last year, added 1.05 per cent, to end at 37,863.80. The Nasdaq Composite advanced 1.70 per cent to 15,310.97.
Meanwhile, here is a list of stocks to watch today:
Q3FY24 results: Aarti Surfactants, Can Fin Homes, ICICI Bank, IDFC First Bank, IDFC Ltd, IREDA, J&K Bank, JK Laxmi Cement, Kotak Mahindra Bank, LKP Securities, Persistent Systems, Rossari Biotech, Sportking India, Tatva Chintan Pharma, Union Bank of India.
ICICI Bank: Private sector lender ICICI Bank may clock margin compression in the range of 15 to 25 basis points (bps) in the December quarter on the back of re-pricing of deposit rates during the quarter.
Reliance Industries: RIL, on Friday, reported a 9.3 per cent year-on-year (Y-o-Y) increase in its consolidated net profit, at Rs 17,265 crore, for the quarter ended December 2023. This growth was tempered by weakness in the energy segment, which offset steady profit growth in RIL's retail and telecom businesses.
Its revenue increased 3.9 per cent Y-o-Y to Rs 2.25 trillion. Sequentially, RIL's net profit attributable to the company's owners fell 0.7 per cent, while revenue fell 2.9 per cent.
Hindustan Unilever: The Indian arm of UK's Unilever, posted a net profit of Rs 2,509 crore in Q3FY24, up only 1.4 per cent from Rs 2,474 crore in the same quarter the previous year. The FMCG major's revenue was down marginally by 0.3 per cent Y-o-Y to Rs 15,294 crore, while volume growth was only 2 per cent Y-o-Y.
Paytm: One97 Communications, the parent company of fintech major Paytm, saw its net loss narrow down to Rs 221.7 crore on a consolidated basis in Q3FY24 from a loss of Rs 392 crore in Q3FY23, and Rs 291.7 crore in Q2FY24. The Noida-based fintech firm’s revenue from operations rose 38.2 per cent to Rs 2,859.5 crore year-on-year.
Zee Entertainment Enterprises: Issuing clarification on reports of the merger with Sony being called off, the company said it is not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Private Ltd.
The company, it added, is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger. It is in discussion for the extension of the date required to make the Scheme effective, by a reasonable period of time.
Prataap Snacks: With respect to reports that Haldiram's is looking to buy a majority stake in the company, Prataap Snacks said the company is not aware of any information that has not been announced to the Exchanges.
Tata Steel: Tata Steel has said that it would commence statutory consultation as part of its plan to transform and restructure its UK business. This plan is intended to reverse more than a decade of losses and transition from the legacy blast furnaces to a more sustainable, green steel business.
RBL Bank: The private sector lender reported an 11 per cent Y-o-Y rise in net profit of Rs 233 crore for the December quarter, missing estimates. The net interest income (NII) increased 21 per cent Y-o-Y to Rs 1,546 crore, with NIM at 5.52 per cent.
KPI Green Energy: KPIG Energia Private Limited, a wholly-owned subsidiary of the company under the 'Captive Power Producer (CPP)' segment, has received a new order of 5.60 MW for executing solar power project.
Navkar Corporation: Issuing clarification on reports that JSW Infrastructure Ltd is leading the race to acquire the logistics service provider, the company said there are no negotiations taking place which requires disclosure. The company evaluates various strategic opportunities for growth and expansion of the business of the Company, on an ongoing basis. The company will make appropriate announcements, as and when any such requirement arises, it added.
Sunteck Realty: The real-estate firm posted a net loss of Rs 9.72 crore in Q3FY24, as compared to Rs 2.06-crore profit Y-o-Y. Analysts polled by Bloomberg had estimated a net loss of Rs 10.3 crore.
Revenue fell 52.5 per cent Y-o-Y to Rs 42.4 crore vs Rs 89.3 crore Y-o-Y and Bloomberg estimate of Rs 137.5 crore.
Fortis Healthcare: Agilus Diagnostics Limited, a material subsidiary of the company, has received a notice from the Anti-Corruption Branch, Government of National Capital Territory of Delhi, in respect of alleged anomalies in diagnostics test conducted in Aam Aadmi Mohalla Clinic etc., wherein they have sought certain documents and information from Agilus.
HFCL: The company has received a Purchase Order aggregating to Rs 623 crore for supply of indigenously manufactured Telecom Networking Equipment for 5G network of one of the domestic telecom service providers.
Strides Pharma: Ace investor Mukul Agarwal's name has appeared in the company's shareholder's list with a 1.5-per cent stake at the end of Q3FY24.
Star Health and Allied Insurance: N. Chittibab resigned from the position of chief innovation officer.
Stocks to Watch on Jan 20: RIL, Paytm, ICICI Bank, Prataap Snacks, RBL Bank - Business Standard
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