GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 144 points or 0.62% higher at 23,273 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed the session 345.55 points or 1.47% lower at 23,085.95, while the BSE Sensex fell 1,048.90 points or 1.36% to close at 76,330.01.
Stocks to watch on January 14, 2024 HCLTech
HCLTech reported sequential growth in its revenue, net profit, and EBITDA for the December quarter, though the results fell short of Bloomberg’s estimates across key metrics. Revenue grew 3.6% quarter-on-quarter to Rs 29,890 crore, while net profit rose 8.4% sequentially to Rs 4,591 crore. Despite these misses, the company raised the lower end of its FY25 revenue growth guidance to 4.5%-5.0% in constant currency terms, narrowing it from the earlier 3.5%-5% range, signalling confidence in its outlook.
JSW Energy
JSW Energy said it had been declared a successful bidder and has received a letter of intent (LOI) from the Resolution Professional for its resolution plan submitted for KSK Mahanadi Power Company (KMPCL) under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016.
IDBI Bank
The financial bids for the strategic sale of IDBI Bank will likely be received by March but the conclusion of the transaction may extend to the next financial year, sources said. In December, the Reserve Bank of India (RBI) issued the ‘fit and proper’ certificate to the shortlisted bidders.
United Spirits
United Spirits (Diageo India) has appointed Praveen Someshwar as chief executive officer-designate from March 1, replacing Hina Nagarajan who will join Diageo’s global executive committee after steering the Indian operations as managing director and CEO for four years. Someshwar has been MD and CEO of HT Media for the last five years. Before that, he had served in various positions at PepsiCo in India and in the wider Asia Pacific region for over 24 years.
Bharat Electronics
Bharat Electronics, a Navratna defence public sector undertaking, announced that it had secured additional orders worth Rs 561 crore since its last disclosure on December 23,
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