ITC, SBI Card, BPCL, Tata Tech, Shriram Finance, Cyient: Stocks to watch on Monday

Stocks to watch on Monday, January 29:  At 8:21 AM, GIFT Nifty futures traded 152.45 points, or 0.71 per cent, higher at 21,641, indicating a positive start for Indian equities today. 

Domestic benchmark Sensex declined by 359 points, while Nifty closed below the 21,400 level on Thursday (January 25, 2024) due to the selling of IT shares and continuous foreign fund outflows. The 30-share BSE Sensex fell by 359.64 points or 0.51 per cent to settle at 70,700.67. The broader Nifty fell by 101.35 points or 0.47 per cent to settle at 21,352.60.

The Indian stock market will be closed on Friday on account of Republic Day. 

Here are some stocks that will be in focus on Monday, January 29:

Results today: Bajaj Finance, ITC, Bharat Petroleum Corporation, NTPC, Bharat Electronics, Marico, Petronet LNG, GAIL (India), Piramal Enterprises and Vodafone Idea are slated to release their December quarter results today.

Tata Technologies: The company posted a consolidated net profit of Rs 170.22 crore against Rs 148.38 year-on-year (YoY) basis. The net profit for the September quarter stood at Rs 160.38 crore. 

Intellect Design: The company reported a net profit of Rs 84 crore against Rs 62 crore YoY. The revenue from operations stood at Rs 635 crore against Rs 555 crore a year ago. 

Cyient: The IT company reported a net profit of Rs 153.2 crore for the third quarter of the financial year (FY) 2023-24 against Rs 156 crore recorded in Q3 FY23.

Shriram Finance: The NBFC reported a consolidated net profit of Rs 1,873.59 crore for the quarter that ended December 31 against a loss of Rs 1,801.66 crore year-on-year (YoY).

Laurus Labs: Krka, an international generic pharmaceutical company in Novo Mesto, Slovenia, and Laurus Labs have reached an agreement to establish a joint venture company, Krka Pharma Pvt. Ltd. in Hyderabad, India. Krka will hold a 51 per cent stake and Laurus will have a 49 per cent share in the joint venture. 

AU Small Finance Bank: For the December ended quarter, the lender posted weak results, with provisions surging 4.9 times YoY.  Profit at the lender increased 4.5 per cent, while NII also went higher by 14.9 per cent. Asset quality at the bank also deteriorated with GNPA increasing to 1.98 per cent.

SBI Card: The credit card arm of SBI reported weak numbers for the quarter ended December with provisions soaring 32.4 per cent YoY. Profit at the company, however, grew 7.75 per cent, while NII shot higher by 21.2 per cent.

Vedanta: The diversified metals entity released a good set of earnings for the December quarter. Profit at the company came in at Rs 2013 crore versus Zee Business estimates of Rs 1049 crore. 

IEX: For the December quarter, profit at the company grew 19 per cent YoY, while revenues also inched higher 15 per cent on year. Also, trading volume in the company surged 16.8 per cent on year. 

HDFC Bank: The Reserve Bank of India has allowed the country's leading state-run insurer LIC to buy up to 9.99 per cent stake in the private lender. The apex bank has advised LIC to buy the stake within a year. As per the shareholding pattern of the December quarter, LIC owns a 5.19 per cent stake in HDFC Bank.

Indiabulls Housing: The company through the rights issue will mop up around Rs 3693.3 crore by issuing 24.62 crore equity shares. The rights issue will remain open between February 7 to February 13 and the issue price for the same is pegged at Rs 150 per share, a discount in comparison to the stock's last closing price of Rs 198. 

Piramal Enterprises: The company has inked an agreement to sell a 20 per cent stake in Shriram Investment Holdings to Shriram Ownership Trust for Rs 1440 crore. The transaction is expected to be completed by 31st March 2024. 

Capri Global: Profit at the company for the December quarter increased 2.8 times YoY to Rs 51 crore. Also, NII soared 56.2 per cent on year. Nevertheless, asset quality took a hit with GNPA increasing to 2.28 per cent versus 2.12 per cent in the same period last year. The company will split 1 equity share into 2 shares. Additionally, the NBFC company will issue 41.24 crore bonus shares in a ratio of 1:1.

BEML: The company's board will consider Q3FY24 financial results on February 8. 

Varun Beverages: The company will consider Q3FY24 financial results on February 5.

GSFC: Gujarat State Financial Corporation's board will consider Q3 results in a meeting on February 9.

(With inputs from agencies.) 

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