LIC, Dhanlaxmi Bank, GR Infra, Sheela Foam: Stocks to watch on Tuesday

Stocks to watch on Tuesday, January 2: At 8:09 am, GIFT Nifty traded 33.4 points, or 0.15 per cent lower, at 21,855.5, indicating a negative start for domestic equities today.Domestic benchmark indices

Sensex and Nifty kicked off 2024 on a flat note, with the 30-share index closing with marginal gains following some buying in energy, services, and telecom counters.

In a highly volatile trade, BSE gauge eked out a modest gain of 31.68 points, or 0.04 per cent, to settle at 72,271.94 after a muted beginning. The Nifty 50 rose 10.50 points, or 0.05 per cent, to 21,741.90. 

Here are some stocks that will be in focus on Tuesday, January 2:

GR Infraprojects:

The company emerged as a successful bidder and has received a Letter of Intent from REC Power Development and Consultancy Limited dated for the establishment of “Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II". 

Dhanlaxmi Bank:

The bank, in its business update, informed that it had recorded a total business of Rs 24,657 crore in the quarter ending December 31 against Rs 22183 crore a year ago, up by 11.15 per cent. 

Sheela Foam:

The joint commissioner dropped the majority of demands of Goods and Services Tax (GST) Intelligence and has asked the parent company of Sleepwell Mattress to pay Rs 3,25,100 plus interest and a penalty of Rs 32510. 

On October 4, 2023, the company received a Show Cause-Cum-Demand Notice from the Commissioner of GST Intelligence, Gautam Budh Nagar, Greater Noida, alleging a tax demand of Rs 20.26 crore.

APL Apollo Tubes:

The company registered a sales volume of 6,03,659 Ton in Q3FY24 compared to 6,05,049 Ton in Q3FY23 and 6,74,761 Ton in Q2FY24.

Auto stocks:

Tata Motors, TVS Motors, and other auto shares will be in focus after releasing sales for December 2023. 

Kernex Microsystems:

The joint venture of the company, i.e., VRRC-KERNEX-CE-RVR JV bags an order of Rs. 109.465 crore from South-Central Railway. As per the deal, the JV will construct comprehensive signalling and telecommunication works for the provision of an automatic block signalling system in the Vemulapadu-Muddanuru section of the Guntakal division in South Central Railway. 

LIC:

The insurance behemoth got a GST demand notice, including a penalty of Rs 806 crore for FY18.

BHEL:

The PSU major has bagged a new order from the Indian Navy to manufacture heavy gun. The company also has won an order to manufacture 80 Vande Bharat trains. Further, the company has also clarified on the order from NLC wherein it stated that it hasn't won the order as yet.

Zomato:

The company once again has pushed its platform fee higher to Rs 3. While in some of the cities, the platform fee now has been moved to Rs 9 per share.

ONGC/ RIL/ Oil India/ MRPL/ Chennai Petroleum:

The centre has incrreased the windfall gain tax on domestic crude oil to Rs 2300 per tonne from the earlier Rs 1300 per tonne. Further, the duty has been made nil for diesel and ATF. The new rates are effective from today.

Eicher Motors:

The company logged weak sales in the month ended Decmeber with Royal Enfield sales at 63,387 units.

TVS Motor:

The 2-wheeler major logged sales in line with the estimates. Total sales at the company have increased 25 per cent month-on-month to 3,01,898.

South Indian Bank:

The company has posted its Q3 business update that showed in the month gone by the company posted good growth, nevertheless CASA declined at the lender.

Ultratech Cement:

Cement sales on a consolidated basis increased by 6 per cent to 27.32 MT year-on-year.

Lupin:

Nomura has upgraded the stock to Rs 1593 per share from the earlier Rs 1290.

(With inputs from agencies.)

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