Stocks to Watch today, Jan 4: Adani Ports, NTPC, LIC, IT, Vedanta, OIL, IEX

Stocks to Watch on Thursday, January 4, 2024: The board of directors of Adani Ports and Special Economic Zone Limited (APSEZ) has approved raising funds up to Rs 5,000 crore

Stocks to Watch on January 4: Global markets remain weak Thursday after minutes of the US Federal Reserve's last meeting showed uncertainty over the rate cut trajectory.

At 7:45 AM, Gift Nifty was quoting at 21,625, up 20 points.

Elsewhere in Asia, Japan's Nikkei resumed trading after an extended holiday with an over 1-per cent cut. South Korea's Kospi fell 0.88 per cent, China's Shanghai Composite dropped 0.55 per cent, Hong Kong's Hang Seng fell 0.4 per cent, and Australia's ASX200 dipped 0.25 per cent.

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Overnight, the Dow Jones Industrhaial Average dropped 0.76 per cent, while the broad-market S&P500 lost 0.8 per cent. The Nasdaq Composite lost 1.18 per cent.

Here's a list of stocks to watch today:

Adani Ports: The board of directors of Adani Ports and Special Economic Zone Limited (APSEZ) has approved raising funds up to Rs 5,000 crore via public issuance of non-convertible debentures.

Bajaj Finance: The customer franchise increased by 3.85 million in Q3FY24, with new loan bookings rising 26 per cent Y-o-Y to 9.86 million. Assets under management (AUM) grew by 35 per cent to approximately Rs 3.11 trillion as of December 31, 2023.

Jio Financial Services: Jio Financial Services Ltd and BlackRock Financial Management have filed papers with the Securities and Exchange Board of India (Sebi) to launch a mutual fund business in India.

NTPC: The company has reportedly signed Memorandum of Understanding (MoU) for projects worth Rs 1.5 trillion with the state government of Gujarat ahead of the Vibrant Gujarat Summit.

Power Grid, Torrent Power, Gujarat Industries Power: Similar to NTPC, these two companies have also signed MoUs with the Gujarat state government worth Rs 15,000 crore, Rs 47,350 crore, and Rs 8,000 crore, respectively.

Amara Raja Energy and Mobility: The Telangana government will extend necessary support for Amara Raja group's advanced chemistry cell gigafactory and battery pack assembly unit, worth Rs 9,500 crore, being set up in Mahbubnagar district, Chief Minister Revanth Reddy said on Wednesday.

Vedanta: The company is likely to be in focus amid a slew of news flows.

First, the company has raised Rs 3,400 crore through a private placement of Non-Convertible Debentures (NCDs).

Second, Vedanta Resources has secured support from bondholders for its proposed restructuring of four series of bonds.

Lastly, it clocked a 6 per cent year-on-year increase in aluminum output at 599 KT, a 4 per cent Y-o-Y dip in refined zinc output at 203 KT, and a 15 per cent Y-o-Y decline in oil & gas average gross operated output at 1,23,413 boe/day. 

Larsen and Toubro: It has completed its stake sale in L&T Infrastructure.

RVNL: It has signed a MoU with REC to finance multi-modal infrastructure projects up to Rs 35,000 crore over the next five years.

Bharti Airtel, Vodafone Idea: Bharti Airtel lost 1.2 million active subscribers in October, which is the highest in the last 17 months, according to data from the Telecom Regulatory Authority of India (Trai).

The Reliance Industries-owned Reliance Jio added 1.8 million active subscribers, while Vodafone Idea lost nearly 1.4 million active subscribers.

Wipro, Infosys: JPMorgan has reportedly increased its target price on Wipro to $5 from $4.4. Besides, it has revised the rating on Infosys and L&T Tech to 'Overweight' from 'Neutral'. It has also upgraded Wipro, HCL Tech, Mphasis, and Persistent Systems to 'Neutral' from 'Underweight'.

Dhampur Sugar Mills: The company will buyback 1 million equity shares at a price of Rs 300 per share.

BGR Energy Systems: State Bank of India has classified its Rs 2,060-loan to the company as 'sub-standard'.

ONGC, Reliance Industries, Oil India: State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday won seven of the 10 areas for exploration of oil and gas, while a consortium of Reliance Industries Ltd and BP Plc, Oil India Limited, and Sun Petrochemicals Pvt Ltd walked away with one each in the latest bid round.

Life Insurance Corporation: LIC has received GST demands totalling Rs 667.5 crore along with penalties from three states—Tamil Nadu, Uttarakhand, and Gujarat.

Maruti Suzuki: Maruti Suzuki India said the Gujarat GST authority has upheld the tax demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore against its arm Suzuki Motor Gujarat Pvt Ltd. The subsidiary company will move the first appellate authority to challenge the order.

Indian Energy Exchange: IEX recorded Q3 volume at 28,326 MU, up 16.9 per cent Y-o-Y. In December, the volume reached 9,707 MU, up 14.9 per cent Y-o-Y. The total electricity volume for December stood at 8,655 MU, up 8.7 per cent Y-o-Y.