Godrej Ind, Titan Co, Marico, Blue Dart: Stocks to watch on Monday
Stocks to watch on Monday, January 8: Godrej Industries signed a non-binding Memorandum of Understanding (MoU) with the Government of Gujarat.
Stocks to watch on Monday, January 8: Benchmark stock indices Sensex and Nifty closed higher for the second straight day on Friday, following gains in IT, tech, and capital goods shares amid fresh foreign capital inflows. After slipping briefly during the late afternoon trade, the 30-share BSE Sensex made a quick recovery and jumped 178.58 points, or 0.25 per cent, to settle at 72,026.15. The Nifty climbed 52.20 points, or 0.24 per cent, to 21,710.80.
Here are some stocks that will be in focus on Monday, January 8
GCPL
FMCG major Godrej Consumer Products Ltd (GCPL) on Friday said it is expecting to deliver a "mid-single digit volume growth" on a consolidated basis in the December quarter. In the domestic business, GCPL's organic business delivered steady underlying volume growth of mid-single digits and its inorganic business as Park Avenue and KamaSutra reported a double-digit volume growth.
Godrej Industries
The company signed a non-binding Memorandum of Understanding (MoU) with the Government of Gujarat. As part of the MoU, the company may plan to invest Rs 600 crore over the next four years in the significant expansion of Valia, with an employment of around 250 people.
Capri Global Capital
The company's board will consider the issuance of non-convertible debentures in a meeting on January 27, 2024.
Federal Bank
The Reserve Bank of India (RBI) has asked the bank to submit two fresh names for MD and CEO. The private sector lender had sought RBI’s approval to reappoint Shyam Srinivasan as MD and CEO on October 6, 2023.
Jio Financial Services
The company and BlackRock have agreed to form a joint venture to enter India’s asset management industry. Accordingly, the company and Blackrock made an application to the Securities and Exchange Board of India on October 19, 2023, seeking approval for Jio Financial Services Ltd. and Blackrock Financial Management, Inc. to act as co-sponsors of a mutual fund.
RPSG Ventures
A fire incident occurred at a job worker’s factory located at NH24, Uttar Pradesh. The job worker was appointed by Guiltfree Industries Limited, a subsidiary of RPSG Ventures Limited, to manufacture its products. The loss or damage is covered by insurance. '
Reliance Power
The company has signed a settlement agreement with DBS Bank India Limited (DBS) to settle its entire obligations with respect to its borrowings.
Blue Dart
The board will consider financial results for Q3 FY24 on January 24, 2024.
Bajaj Auto and Chambal Fertilisers
Both companies will be considering share buybacks in their board meetings today.
Jupiter Wagons
The wagons company has bagged an order valued at around Rs 100 crore for supplying four rake automobile carrier wagons.
NBCC India
The company has received an order valued at Rs 25.4 crore from the Lokpal of India.
Shyam Metaliks
The company's QIP closed on January 5. Through it, the company raked in a total of Rs 1385 crore.
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Q3 business updates
Marico
The company said in its Q3 business update that it saw low single-digit domestic volume growth on a year-on-year (YoY) basis with a slight sequential improvement in our core portfolio.
Titan
The company in the Q3 period has logged 22 per cent growth in revenue YoY, while the jewellery segment has registered 23 per cent sales growth YoY. Few of the brokerages have upgraded the stock after the update. CLSA has raised the target to Rs 4494 from the earlier Rs 4029.
Tata Steel
The company's Q3 business update has been mixed with Tata Steel India crude steel production registering 6 per cent growth YoY.
Union Bank
The state-run lender provided a business update as per which the lender's deposit during the quarter surged 10.1 per cent YoY to around Rs 11.72 lakh crore.
Bank of Baroda
The lender's Q3 business update suggests weak performance at the lender, with global advances and deposits reported to increase 13.6 per cent and 8.3 per cent YoY.
Nykaa
The company has logged good performance across its different verticals. The company's BPC business is expected to log net sales value growth of 20 per cent, while at a consolidated level, revenue is expected to grow in the low twenties.
(With inputs from agencies.)
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