Stocks to watch on Thursday, January 4: At 8:17 am, GIFT Nifty traded 27.5 points, or 0.13 per cent higher, at 21,627.5, indicating a positive start for domestic equities today.

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Stock markets declined for a second day in a row on Wednesday (January 3, 2024) with benchmark indices Sensex and Nifty closing lower amid selling in HDFC Bank and IT shares. A slide in global shares also dented sentiments. The S&P BSE Sensex fell by 535.88 points or 0.75 per cent to settle at 71,356.60, and NSE Nifty slipped 148.45 points or 0.69 per cent to 21,517.35.

Here are some stocks that will be in focus on Thursday, January 4:

Tata Steel:

Tata Metaliks and Tata Steel got a nod from the National Company Law Tribunal (NCLT) for a merger.

Dr Reddy's Laboratories:

 The pharmaceutical company along with its subsidiaries acquired the MenoLabs, a leading woman’s health and dietary supplement-branded portfolio. 

Dhampur Sugar Mills: 

The company's board approved the buyback of 10 lakh shares with a face value of Rs 10 per share. 

Chambal Fertilisers & Chemicals:

In a meeting on January 8, 2024, the company's board will consider the buyback of shares.

IndusInd Bank: 

The private sector lender, in its Q3 business update, informed that its net advances increased 20 per cent year-on-year (YoY) and the Deposits CASA ratio increased 13 per cent. 

Adani Ports:

 The company's board approved raising funds up to Rs. 5,000 crore. 

Oriental Hotels: 

The company got an order from the State Goods and Services Tax (GST) department for FY 2017-18 with a tax demand of over Rs 1 crore. 

Transport Corporation of India: 

The board will consider financial results for the quarter ended on December 31 in a meeting on February 2. 

KPI Green Energy: 

The company and its subsidiary, KPIG Energia Private Limited, bagged new orders of 2.10 MW for executing solar power projects. The amount is not mentioned in the filing.

Chambal Fertilisers: 

The company will mull over the share buyback on January 8. 

Bajaj Finance: 

The company's new loan book has been at 9.86 MM as against 7.84 MM in the same period last year, registering 26 per cent year-on-year growth. Deposits at the NBFC also logged 35 per cent YoY growth. 

Ujjivan Small Finance Bank:

The bank has emerged as the only lender with QoQ increase in CASA ratio. Alongside, there has been improvement in the deposits, loans and asset quality front at the lender.

IEX: 

The volume growth at the energy exchange has been at 16.9 per cent. Also, day ahead market clearning price has seen a 13 per cent YoY decline.

Vedanta:

The shares of the diversified metals company will be in focus after the Q3 business update. Also, Vedanta's bond restructuring has received approval from over 95 per cent bond holders. 

Bharat Forge, Ramkrishna Forgings etc:

In December, sales of Class 8 truck reduced 5.9 per cent YoY in North America. 

RCF:

The company has approved the set-up of 1200 MTPD fertiliser plant in Maharashtra. 

Power companies:

Ahead of the Gujarat Global Summit, the state government has inked a Rs 7.2 lakh crore MoU with as many as 58 companies.

Poonawalla Fincorp:

The company's Q3 disbursement has registered a 159 per cent increase YoY.  The company as per its guidance will maintain NNPA below 1 per cent. Furthermore, liquidity at the company till December 31 stood at Rs 2875 crore. 

(With inputs from agencies.)

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