LTTS, HDFC Bank, ICICI Securities, IREDA, RVNL: Stocks to watch on Wednesday

Stocks to watch on Wednesday, January 17: At 8:24 AM, GIFT Nifty futures traded 196 points, or 0.89per cent, lower at 21,833.5, indicating a negative start for domestic equities today.

The Indian share market snapped a five-day winning run on Tuesday with the benchmark Sensex declining by 199 points due to profit-taking in IT and oil shares and weak global trends. The 30-share BSE Sensex dropped by 199.17 points or 0.27 per cent to settle at 73,128.77. The Nifty touched its all-time intra-day high of 22,124.15 before closing lower by 65.15 points or 0.29 per cent at 22,032.30.

In the last five days, the BSE benchmark rallied 1,972.72 points or 2.76 per cent, and the Nifty jumped 584.45 points or 2.71 per cent.

Here are some stocks that will be in focus on Wednesday, January, 17:

L&T Technology Services:

The IT company recorded a net profit of Rs 336.8 crore for the third quarter ended December 31 against Rs 298.2 crore a year ago. The revenue for the quarter under review stood at Rs 2,420 crore against Rs 2,230.5 crore year-on-year (YoY).

HDFC Bank:

The net profit for the third quarter ended on December 31 stood at Rs 16,372 crore against Rs 12,259.49 crore YoY. The private sector lender's gross non-performing asset (NPA) stood at Rs 31,011.67 crore against Rs 18,763.9 crore a year ago. Net NPA for the quarter stood at Rs 7664.1 crore. Loan to deposit ration at the lender is a big issue. Also, management commentary has been weak. HDFC Bank's ADR or American Depository Receipt has slumped by a substantial 6.7 per cent.

Hathway Cable & Datacom:

The company posted a net profit of Rs 22.35 crore in the third quarter ended December 31, 2023, against Rs 28.77 crore a year ago. The revenue stood at Rs 504.58 crore against Rs 478.45 crore year-on-year (YoY).

Jubilant Foodworks:

The company's board approved making further investments of up to Rs 25 crore in Jubilant Foodworks Netherlands B.V., a subsidiary of the company.

RVNL:

The company formed a joint venture with Jakson Green Private Limited to explore opportunities in solar power projects in India and abroad.

IREDA:

The company signed a Memorandum of Understanding (MoU) with Indian Overseas Bank for co-lending in green energy financing.

Sapphire Foods:

The National Company Law Tribunal (NCLT), Mumbai, will hear the merger petition of the company, Gamma Pizzakraft Private Limited (GPPL), and Gamma Pizzakraft (Overseas) Private Limited (GPOPL) on February 16.

ICICI Lombard:

The company's Q3 came in line with estimates. Net premium earned at the lender has edged higher by 13.5 per cent. Profit at the insurer also jumped 22 per cent to Rs 431 crore.

Goa Carbon:

The company posted operationally strong numbers with margin coming in at 17.2 per cent versus 10.8 per cent year-on-year.

IEX:

In an exclusive interaction with Zee Business, the energy minister said that soon market coupling will be implemented.

PNC Infra:

The company has bagged a new order estimated to be worth around Rs 1174 crore from the MP Road Development Corporation to construct Western Bhopal Bypass. 

GMR Airport:

The total passenger traffic in December month has jumped 15.3 per cent YoY to 1.09 crore. 

Capacite Infra:

Societe Generale sold 6.02 lakh shares or 0.79 per cent shares at Rs 267.52 per share 

Hindalco, NALCO and other metal stocks:

Dollar index has soared by 1 per cent to above 103 and ALCOA has descended by 7 per cent.

Wipro:

Q3FY24 results to be announced:

PNB Gilts:

The company will consider financial results for the quarter and the nine months that ended December 31, 2023, in a meeting on January 24.

Aeroflex Industries:

The board will consider third-quarter financial results on January 25. 

Mankind Pharma:

The company will consider Q3 results in a meeting on January 31. 

IRB Infrastructure Developers:

The board will consider Q3FY24 results and the second interim dividend in a meeting on January 31.

(With inputs from agencies.) 

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