Stocks to Watch Today: Indian stock market may have a bad start today amid weak signals from the global market. At 7.10 am, Gift Nifty was seen at 21,860 points with a fall of more than 100 points. At the same time, the treasury yield in the American market rose above 4 percent on Tuesday. In Asia, most markets fell ahead of China’s fourth-quarter gross domestic product, industrial production and retail sales data. In Japan, Nikkei rose 1.3 percent. In Hong Kong, Hang Seng fell 1.3 percent, South Korea’s Kospi fell 1.2 percent, while in Australia, ASX 200 was below the flatline. Overnight in America, Dow Jones fell by 0.62 percent, while S&P 500 fell by 0.37 percent and Nasdaq Composite fell by 0.19 percent. In such a situation, these stocks will be kept under watch in the market today.
Q3FY24 Result: Alok Industries, Asian Paints, Ganesh Housing Corporation, Happiest Minds Technologies, Hindustan Media Ventures, ICICI Prudential Life Insurance, IIFL Finance, LTIMindTree, Moschip Technologies, Oracle Financial Services Software, Quest Capital Markets, Roselabs Finance, SOM Distilleries & Breweries, Specialty Restaurants, Steel Strips Wheels, Star Housing Finance, and TechIndia Manufacturing.
HDFC bank: India’s largest private sector lender reported a 34 per cent rise in its standalone net profit to Rs 16,373 crore for Q3FY24, beating estimates by 1 percentage point. Net interest income (NII) increased by 24 per cent year-on-year to Rs 28,471.34 crore, which was beyond expectations.
ICICI Lombard General Insurance: The insurance company reported a 22.4 percent year-on-year rise in profit at Rs 431 crore in the third quarter, helped by growth in premium and investment income. Net premium earned during the quarter increased by 13.5 percent to Rs 4,305 crore.
LTTS: L&T Technology Services on Tuesday retained its revenue growth forecast for the current financial year at 17.5 per cent – 18.5 per cent as all five of its business verticals recorded year-on-year growth for Q3FY24. L&T Technologies’ consolidated net profit rose to Rs 336 crore from Rs 297 crore a year ago, slightly ahead of analysts’ estimate of Rs 331 crore. Revenue from operations increased by 12 per cent year-on-year to Rs 2,422 crore.
Bharat Petroleum Corporation: BISPL, an indirect step-down subsidiary of the Company, has announced the offer of a tender offer for approximately $120 million 4.375% senior notes which were issued with a maturity date of January 18, 2027.
Godrej Properties: The company has acquired one acre of additional land in Yeshwanthpur, Bengaluru, with a development potential of approximately 1.40 lakh square feet of salable area.
Adani Energy Solutions: The Adani Group firm reported 14.78 per cent year-on-year growth in Q3FY24 sales, and a pipeline of 2.1 crore smart meters with a contract value of Rs 25,100 crore. The distribution loss in the third quarter is 5.46 percent, while in Q3FY23 it was 5.60 percent. It also maintained supply reliability of more than 99.9 percent.
G R Infraprojects: The company’s wholly owned subsidiary GR Kasganj Bypass Private Limited has executed the concession agreement with the National Highway Authority of India for a project worth Rs 1,085.5 crore.
TV18 Broadcast: Due to investments made in sports and digital segments, it reported a consolidated net loss of Rs 55.83 crore for Q3FY24, compared to a net profit of Rs 37.81 crore year-on-year. Its consolidated revenue from operations also declined by 5.17 percent year-on-year to Rs 1,676.19 crore.
DCB Bank: The Reserve Bank of India has approved the appointment of Praveen Achuthan Kutty as the Managing Director and CEO of the bank for a period of three years with effect from April 29, 2024.
GMR Airport Infrastructure: GMR recorded a year-on-year growth of 15.3 percent in air passenger traffic to 109.18 million.
BSE: Subhash Mundra will no longer be the Public Interest Director (PID) and Chairman of BSE with effect from January 16, 2024.
ICICI Securities: ICICI Securities reported standalone net profit of Rs 465 crore in Q3FY24, up 67 per cent year-on-year, while its standalone revenue from operations was Rs 1,322 crore, up 50 per cent year-on-year.
PNC Infratech: It is called M.P. Have received letter of award from. Road Development Corporation for projects worth Rs 1,174 crore.
Rail Vikas Nigam: RVNL has formed a joint venture with Jackson Green Pvt Ltd to explore opportunities in solar power projects in India and abroad.