GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a higher opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 56 points or 0.24% higher at 23,030 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed the session 128.10 points or 0.56% higher at 22,957.25, while the BSE Sensex added 535.24 points or 0.71% to close at 75,901.41.
Stocks to watch on January 29, 2024 ITC Hotels
ITC has informed stock exchanges that its demerged hotel business ITC Hotels to be listed on January 29, following the approval from both the bourses. To achieve this, ITC has also provided general advice on how to allocate the acquisition cost of ITC’s ordinary shares and the equity shares of ITC Hotels Ltd.
Indian Oil Corp
Indian Oil Corp (IOC) has set its capex target for the next fiscal year 2025-26 at Rs 33,000 crore against the capex target of Rs 35,000 crore in FY25, the company said. As of December, the company has incurred a capex of Rs 28,000 crore for the fiscal. The firm has laid out plans to increase its refining capacity at three of its refineries — Panipat (Haryana), Gujarat and Barauni (Bihar).
JSW Energy
JSW Energy reported a 27% decline in net profit for Q3 FY25 at Rs 168 crore, compared to Rs 231 crore in Q3 FY24, missing analyst estimates of Rs 347 crore. Its revenue for the quarter also fell short of expectations, dropping 4.1% to Rs 2,439 crore from Rs 2,543 crore in Q3 FY24. Analysts had projected revenue of Rs 2,958 crore.
Nandan Denim
Nandan Denim reported a 100.39% rise in its Q3 FY25 net sales at Rs 926.15 crore, up from the corresponding period’s Rs 462.18 crore. The denim company’s net profit, however, declined 17.3% to Rs 6.58 crore from the corresponding year’s Rs 7.96 crore.
Arvind
Arvind Ltd. reported double-digit growth in consolidated revenue and profit after tax (PAT) for Q3 FY25. The textile and garment conglomerate clocked in a consolidated revenue of Rs 2,089 crore, marking an 11% year-on-year increase from Q3 FY24’s revenue of Rs 1,888 crore.
» Read More
