Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi, Swiggy, Zomato, SAIL

Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi will be in focus post their Q3 results, also, Swiggy, Zomato, Vi and others will be on the radar

Stocks to Watch on January 10, 2025: The GIFT Nifty futures, around 7:32 AM, were trading 67.1 points lower at 23,581. In the previous session, Sensex shed as much as 528.28 points or 0.68 per cent to settle at 77,620.21. Mirroring the Sensex, NSE Nifty50 also ended lower by 162.45 points or 0.69 per cent at 23,526.50. 

Here is a list of stocks that will remain in focus today (January 10, 2025):

Results on Jan 10, 11: PCBL, CESC, Just Dial and others will announce their quarterly earnings on January 10. Meanwhile, Avenue Supermarts (DMart), Concord Drugs, Kandagiri Spinning Mills, and Rita Finance and Leasing will announce their quarterly earnings on January 11.

 

 

TCS: Tata Consultancy Services' (TCS') net profit for the third quarter came in at Rs 12,380 crore, up 11.9 per cent over Rs 11,058 crore in the same quarter of FY24. In Q3FY24 TCS had a one-time settlement of legal claims of Rs 958 crore. Taking this into consideration, net profit growth year-on-year (Y-o-Y) was 5.5 per cent. 

 

IREDA: State-run financier Indian Renewable Energy Development Agency (Ireda), on Thursday, reported a net profit of Rs 425.38 crore in the October-December quarter. It is 27 per cent more than the net profit of Rs 335.53 crore reported in the year-ago period.

 

Tata Elxsi: The company's revenue from operations rose 2.7 per cent to Rs 939 crore for the quarter ended December 31, 2024, as compared to Rs 955.1 crore a year ago. Its net profit fell 3.6 per cent to Rs 199 crore as compared to Rs 229.4 crore a year ago. 

 

Keystone Realtors: In its Q3 update, the company said it reported a 40 per cent growth in sale bookings to Rs 863 crore in the December quarter on robust housing demand. Also, the company informed that its pre-sales or sale bookings stood at Rs 863 crore during the third quarter of this fiscal from Rs 616 crore in the corresponding period of the preceding year.

 

Adani Total Gas: GAIL (India), the nodal agency for domestic gas allocation, informed the company that the allocation of administered price mechanism (APM) gas has been revised upwards by 20 per cent, effective January 16, 2025. This upward revision will have a positive impact on the company and will help in stabilising the retail prices to end consumers, as per the filing. 

 

Mahanagar Gas: GAIL has informed the company that the domestic gas allocation at APM prices has been increased by 26 per cent, effective January 16. This increase will raise the allocation for Compressed Natural Gas (CNG) from 37 per cent to 51 per cent. This boost in gas allocation will positively impact the company's profitability.

 

Religare Enterprises: The Madhya Pradesh High Court disposed of a public interest litigation (PIL), lifting the stay on the annual general meeting (AGM) of Religare Enterprises (REL), which was earlier scheduled for December 31. The court noted that the petitioner was not a shareholder in the company and was not aggrieved in the impugned order.

 

Adani Wilmar: Adani Commodities LLP, a promoter of Adani Wilmar, is set to sell off up to 20 per cent stake in the company through an Offer for Sale (OFS), opening on Friday, January 10, 2025. 

 

Indian Overseas Bank: The public sector lender is planning to sell non-performing assets of Rs 11,500 crore to asset reconstruction companies. The bank said it is selling 46 loan accounts and invited expressions of interest from the ARCs, according to an official statement.

 

Vodafone Idea: Vodafone Idea or Vi raised Rs 1,910 crore via a preferential allotment of shares to entities belonging to Vodafone Group Plc as the unprofitable wireless operator seeks to turn aroundiness amid battles with larger rivals.

 

Swiggy: Swiggy’s quick commerce platform, Swiggy Instamart, has expanded to over 75 cities across the country and will soon also be available as a standalone app. 

 

Emami: The company is planning to expand its play in the fast-growing male grooming market with its new brand identity 'Smart and Handsome', and is setting sights on Rs 1,000-crore revenue in the next 3-4 years, the company's Vice-Chairman Mohan Goenka.

 

Swiggy/Zomato: The National Restaurant Association of India (NRAI) is likely to approach the Competition Commission of India (CCI) to address concerns regarding Zomato and Swiggy's recent launch of standalone apps for 10-minute food delivery, as per reports. 

 

SAIL: Steel Authority of India (SAIL) supplied approximately 45,000 tonnes of steel for the upcoming Mahakumbh Mela which is one of the biggest religious congregations in the world.

 

IOC/BPCL/HPCL: As per reports, the government is likely to provide a subsidy of Rs 35,000 crore to Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) to make up for losses they incurred on selling the fuel this fiscal.