Following a five-session decline, the Indian stock market managed to close positively, and it is anticipated to open higher on Tuesday, January 13, in light of the upward movement observed in Asian markets. Initial indications from Gift Nifty pointed towards a favorable opening, with the index positioned at 25,920, reflecting an increase of approximately 63 points, or 0.24%, compared to its last closing value.
On Monday, Indian indices – the Sensex and Nifty 50 – concluded their five-session decline, bolstered by value buying in an oversold market following indications that India and the US were progressing towards resolving their trade deal discrepancies. The indices experienced a robust recovery throughout the session. The Sensex experienced a decline of over 700 points, reaching an intraday low of 82,861 during the first half. However, it made a significant recovery, closing at 83,878.17, which reflects a gain of 302 points or 0.36%. This represented a robust recovery of 1,017 points from the day’s low. Meanwhile, the Nifty 50 increased by 107 points, representing a 0.42% gain, closing at 25,790.25.
“The Indian market rebounded from the day’s lows as investor sentiment improved following favorable remarks on the trade deal by the U.S. Ambassador ahead of the next round of negotiations. The favorable outlook contributed to an enhancement in overall market sentiment. The commodities segment demonstrated strong performance, bolstered by robust activity in metals, which gained from a resurgence in buying interest amid supply limitations. Value buying was apparent in consumer and banking stocks, as investors pursued opportunities following recent corrections, bolstered by expectations of stronger Q3 earnings and improving demand. Additionally, precious metals maintained their upward momentum amid persistent geopolitical tensions,” stated Vinod Nair.
In light of current market conditions – Below is a compilation of stocks that could draw investor attention and are expected to show some activity today.
Equities to monitor:
- ICICI Prudential Life, ICICI Lombard, Just Dial, Tata Elxsi, Bank of Maharashtra – The shares of ICICI Prudential Life, ICICI Lombard, Just Dial, Tata Elxsi, and Bank of Maharashtra are set to attract attention as these companies announce their December quarter results today.
- Tata Consultancy Services on Monday reported a 14% year-on-year decrease in its consolidated net profit for the December quarter, which dropped to Rs 10,657 crore from Rs 12,380 crore in the corresponding period last year.
- HCL Technologies reported an 11% decrease in consolidated net profit for the December quarter, with earnings falling to Rs 4,076 crore compared to Rs 4,591 crore during the corresponding period last year.
- Ola Electric has announced the commencement of the rollout of its inaugural battery energy storage system, Shakti, from its manufacturing facility located in Krishnagiri, Tamil Nadu.
- Larsen & Toubro on Monday disclosed its intention to acquire the remaining 40% stake in L&T Sapura Shipping Private Limited (LTSSPL) from Sapura Nautical Power Pte Ltd for Rs 122.4 crore, effectively transforming the offshore marine construction firm into a wholly owned subsidiary.
- Biocon has commenced a qualified institutional placement valued at Rs 4,150 crore, with an indicative issue price of Rs 368.35 per share, reflecting approximately a 5% discount to the current market price, aimed at bolstering its growth strategies.
- Anand Rathi Wealth reported a 29% year-on-year growth in net profit, reaching Rs 99.7 crore, bolstered by a 22% increase in revenue to Rs 289.6 crore. EBITDA increased by 22.6% to Rs 131.8 crore, with margins holding steady at 45.5%.
- KP Green Energy has secured a partnership with the Gujarat government to establish renewable energy projects worth Rs 4,000 crore, underscoring its commitment to significant advancements in sustainable infrastructure development.
- NLC India’s board has approved the listing of its subsidiary, NLC India Renewables, which includes a 25% stake dilution and an investment of Rs 66.7 crore. The company has declared an interim dividend of Rs 3.6 per share, with January 16 established as the record date.
- TVS Supply Chain Solutions disclosed that it has secured a contract with Daimler India Commercial Vehicles (DICV) to manage in-plant warehouse operations at DICV’s manufacturing facility located in Chennai.