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Stocks to watch: Shares of firms like Tata Motors, Maruti, Easy Trip Planners, Railtel, Ambuja, and others will be in focus on Thursday’s trade
Stocks To Watch Today.
Stocks to Watch on January 2, 2025: Indian frontline indices, S&P BSE Sensex and Nifty, started the year on a positive note on Wednesday, buoyed by buying activity across most sectors, especially in automobiles and banking. The Sensex closed at 78,507.41, up by 368.40 points (0.47%), while the Nifty ended at 23,742.90, gaining 98.10 points (0.41%).
Auto Stocks: Key auto stocks like Tata Motors and Maruti Suzuki will be in focus following the release of their December sales and production figures.
Telecom Stocks: Telecom operators saw a 10.5% year-on-year (Y-o-Y) growth in gross revenue, reaching Rs 91,426 crore in the September 2024 quarter. This growth coincided with mobile service providers raising tariffs, as per the Telecom Regulatory Authority of India (TRAI) report.
NMDC: The company reported a 5.1% Y-o-Y increase in iron ore production to 4.71 million tonnes (MT) in December 2024. However, sales of iron ore declined by 6.7% to 3.91 MT from 4.19 MT in the same period last year.
South Indian Bank: The bank reported an 11.94% Y-o-Y increase in gross advances, reaching Rs 77,686 crore, compared to Rs 86,965 crore a year ago.
Reliance Power: Sasan Power Limited, a subsidiary of Reliance Power, made a bullet repayment of $150 million to IIFCL, UK, fulfilling its debt obligations as of December 31, 2024. This repayment is expected to improve liquidity, enhance credit ratings, and strengthen Sasan Power’s debt coverage metrics. Reliance Power, a zero-debt company, also recently raised Rs 1,525 crore through a preferential issue of equity-linked warrants.
Karur Vysya Bank: The bank’s total business grew by 14.93% to Rs 1.82 trillion as of December 31, 2024, compared to Rs 1.58 trillion a year ago.
CSB Bank: The private sector lender reported a 22.17% Y-o-Y growth in total deposits, reaching Rs 33,406 crore. Gross advances also rose by 26.45% Y-o-Y to Rs 28,914 crore.
Hero MotoCorp: The company received an additional tax demand of Rs 26.40 crore from the Income Tax Department for the assessment year 2020-21.
Easy Trip Planners: Known as EaseMyTrip, the company appointed Rikant Pittie, co-founder, as CEO, succeeding his brother Nishant Pitti.
India Cements: The board of India Cements approved the appointment of Suresh Vasant Patil as CEO and Krishnagopal Ladsaria as CFO, according to a regulatory filing.
Adani Energy: Tamil Nadu Power Distribution Corporation has cancelled a global tender for procuring smart meters, citing the high cost quoted by Adani Energy Solutions Ltd (AESL).
Railtel Corporation: The company secured a work order worth Rs 78.43 crore from Bharat Coking Coal Ltd for the installation of integrated IT-based security infrastructure and related services.
Ambuja Cements: The company received an observation letter from the Bombay Stock Exchange (BSE) with “no adverse remarks” and a “no objection” from the National Stock Exchange of India (NSE) regarding Adani Cementation’s scheme of amalgamation with Ambuja Cements.
Ind-Swift Laboratories: The company completed the acquisition of 40 bighas of land in Punjab for a total consideration of Rs 17.72 crore.
Ugro Capital: Ugro Capital entered into a share purchase agreement and shareholders’ agreement to acquire shares in MyShubhLife (Datasigns Technologies), an embedded finance fintech platform based in Bangalore.
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