L&T, TCS, Dr Reddy's Laboratories: Stocks to watch on Monday

Stocks to watch on Monday, January 1:  At 8:15 am, GIFT Nifty traded 53.55 points, or 0.24 per cent lower, at 21,807.5, indicating a negative start for domestic equities today.

Bears maintained an upper hand on the last trading session of the calendar year 2023 (CY23) as investors chose to book profits in recent outperformers. Benchmark indices Nifty 50 and Sensex were subdued on the last session of 2023 on Friday, December 29, weighed down by a pullback in high-weightage financials, oil & gas, and information technology (IT) shares after a recent rally.

The Nifty index ended 47.3 points, or 0.22 per cent, lower at 21,731.4, and the Sensex finished the day 170.12 points, or 0.23 per cent lower at 72,240.26, pausing the five-day rally.

Here are some stocks that will be in focus on Monday, January 1:

Larsen and Toubro (L&T):

The firm's board will consider the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2023, on Tuesday, January 16, 2024.

Dr Reddy's Laboratories: 

Dr. Reddy’s Laboratories, acquired a 6.46 per cent stake in Edity Therapeutics Ltd. The cost of acquisition is USD $1.9715 per preferred A-1 share.

Tata Consultancy Services (TCS):

The company's board will consider financial statements for the period ending December 2023. BSE on January 11, 2024.

ACC:

The cement company has commissioned a cement manufacturing unit with a capacity of 1.0 MTPA in Madhya Pradesh and commenced the commercial production and dispatch of cement with effect from December 28, 2023.

Rain Industries:

The company's board will discuss financial results for the Quarter and Financial Year ended December 31, 2023, in a meeting on February 23, 2024.

OMCs in focus:

The petroleum minister Hardeep Singh Puri clarified that there has been no discussion with the OMCs for price reduction. Also, tensions continue at the Red Sea. Furthermore, the price of 19kg commercial LPG cylinder has been reduced marginally by the marketing companies. 

Interglobe Aviation, Spicejet etc:

OMCs have slashed price of ATF by a substantial Rs 4162.5 per kiloliter. With the third reduction in a row, airfares are expected to come down.

BHEL:

As per the Hindu Business Line report, the company has been the best bidder for NLC India's thermal power project in Orissa. The project will entail a cost of Rs 19,422 crore. 

Kaveri Seed Company:

The company in its board meeting slated for January 5 will be considering the share buyback.

Dhampur Sugar:

The company's board will consider share buyback in its January 3 meeting.

Grasim Industries:

The company will be deliberating rights issue in its board meeting on January 4.

Bandhan Bank:

The bank has transferred its NPA portfolio of the housing finance business segment to the ARC. 

Godrej Properties:

The company has acquired 4 acre land in Bengaluru's Yeshwanthpur area. The company will develop 7 lakh square feet of residential apartments.

Zydus Wellness:

The company's promoter group Zydus Family Trust has acquired 0.62 per cent stake in the company in a block deal which tool place on December 28.

(With inputs from agencies.)

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