With key economic data releases on the horizon and corporate earnings in focus, investors are actively tracking stock movements across sectors to make informed decisions and navigate market trends.
As indicated by GIFT Nifty, Indian equity indices BSE Sensex and NSE Nifty 50 are likely to open higher on Tuesday, January 7. Here’s a look at the key stocks to watch in today’s trade.
Stocks in Focus: GIFT Nifty was trading 27.50 points or 0.12 per cent higher at 23,768.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday.
Sensex and Nifty close lower on January 6
The Indian headline indices, Sensex and Nifty extended their losses for the second straight session on January 6, ending near the day’s lows. The Sensex plunged by 1,258.12 points, or 1.59%, to close at 77,964.99, while the Nifty 50 slipped 388.70 points, or 1.62%, to settle at 23,616.05.
Quarterly watch: Key earnings announcements on January 7
On January 7, the quarterly earnings of companies such as Mobikwik Systems, GM Breweries, Kore Foods, Darshan Orna, Krishna Ventures, Leel Electricals, UH Zaveri, and VR Woodart are scheduled to be announced.
Stocks to watch on January 7, 2025 ICICI Prudential
The private insurer has been ordered to pay taxes for FY2019-21, as per a GST ruling upheld by the Commissioner of Appeals. ICICI Prudential had earlier contested this demand but lost its appeal.
“Accordingly, the Company has received an order under Section 107 of the Goods and Services Tax Act, 2017 from Commissioner (Appeals) on January 6, 2025 at 11.13 a.m., upholding the total tax demand. Kindly note that the Company shall file an appeal against the demand upheld in the said order before appropriate authority in due course,” the company said through an exchange filing on January 6.
Also Read: These 5 stocks are sharply up in a falling market, here’s why…
Power Grid
The state-run power company has won bids for two major transmission projects in Gujarat and Karnataka. These projects, under a build-operate-transfer model, aim to enhance the inter-state power grid.
Through the regulatory filing, the company said, “Power Grid Corporation of India Limited (“POWERGRID”) has been declared as successful bidder under Tariff Based Competitive Bidding for the following two (02) projects to establish InterState Transmission System under Build,
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