Stocks to Watch, Jan 8, 2025: Tata Steel, Sobha, M&M, REC, SBI, RVNL, CESC

Stocks to Watch, Jan 8, 2025: From Tata Steel to Dr. Reddy's Labs, here is a list of stocks that will remain in focus today

Stocks to Watch on January 8, 2025: The GIFT Nifty futures, around 7:23 AM, were trading 21.55 points lower at 23,773. In the previous session, Sensex added 234.12 points or 0.30 per cent to settle at 78,199.11. Likewise, NSE Nifty50 settled in the green at 23,707.90 with gains of 91.85 points or 0.39 per cent. 

Here is a list of stocks that will remain in focus today (January 8, 2025):

Results today: Transformers and Rectifiers (India), Reliance Home Finance, Adarsh Mercantile, and Vivid Mercantile will announce their quarterly earnings on January 8.

 

Tata Steel: In 3Q, the company's crude steel production stood at 5.68 million tons as compared to 5.35 million tons a year ago and 5.28 million tons in Q2FY25. Production was up 8 per cent quarter-on-quarter (Q-o-Q) and 6 per cent year-on-year (Y-o-Y), aided by the commissioning of the 5 MTPA blast furnace at Kalinganagar in September. 

 

 

Sobha: The company in Q3 recorded a sales of Rs 138.8 crore supported by a new sales area of 1.01 mn sft at an average price realisation of Rs 13,663 per sft. Sales value recorded growth of 17.8 per cent compared to the previous quarter.

 

Signatureglobal: The company in its Q3 update said its pre-sales grew 120 per cent to Rs 2,770 crore as compared to Rs 1,260 crore. Meanwhile, collections increased 40 per cent to Rs 1,080 crore as compared to Rs 770 crore.

 

Besides, the company's board approved the appointment of Sanjeev Kumar Sharma as Chief Financial Officer of the company, effective January 7.

 

Dr. Reddy's Laboratories: The pharmaceutical company has entered into an agreement for the sale of all the issued and outstanding membership interests in its subsidiary, Dr. Reddy’s Laboratories Louisiana LLC (DRLL), along with the manufacturing facility of DRLL in Shreveport, Louisiana, USA.  Consequently, Dr. Reddy’s Laboratories Louisiana LLC will cease to be a wholly owned subsidiary of Dr. Reddy’s Laboratories Inc. as well as step down a wholly owned subsidiary of Dr. Reddy’s Laboratories Limited.

 

Maruti Suzuki: The company announced its blueprint for electric mobility, christened ‘e for me’. This is a comprehensive ecosystem that integrates electric vehicles, pioneering technology, and robust charging infrastructure.

 

Biocon: Biocon arm Biocon Biologics Ltd announced the completion of its first year as a fully integrated global biosimilar enterprise following its acquisition of Viatris in 2022. Biocon Biologics aims to improve its inventory by around $100 million.

 

Vodafone Idea (Vi): The telecom company chief executive officer Akshaya Moondra said the beleaguered telco is preparing for a phased rollout of 5G and launching tailored “first-of their-kind tariff plans” for customers this year. 

 

Mahindra & Mahindra (M&M): The company which is set to start bookings for the new electric vehicles BE6 and XEV 9e from February 14, aims to sell 5,000 units of these EVs per month in the initial phase of the launch. The deliveries will begin in March.

 

Tata Technologies: The company announced a strategic collaboration with Telechips to develop innovative vehicle software solutions for nextgen software-defined vehicles (SDVs).

 

REC Ltd: The company is looking to sell bad loans worth Rs 2,848 crore in Corporate Power Ltd (CPL) and has invited counterbids via a Swiss challenge auction, initiated by an anchor bid of Rs 58.65 crore.

 

SBI: State Bank of India (SBI) has appointed Baldev Prakash as the deputy managing director—group chief risk officer.

 

RVNL: Rail Vikas Nigam (RVNL) signed a memorandum of understanding (MoU) with GBH International Contracting LLC (GBHIC), a Dubai, United Arab Emirates-based company. 

 

Mankind Pharma: The company has pledged the remaining 56.31 per cent of its shares in its subsidiary, Bharat Serums & Vaccines, to Catalyst Trusteeship as the Common Security Trustee for the benefit of the (non-convertible debentures) NCD holders. 

 

CESC: CESC Limited (CESC) has issued the Letter of Award to Purvah Green Power Private Limited (Purvah), a subsidiary of CESC, for the project to set up a 150 MW wind-solar hybrid power project, with an additional 150 MW capacity under the Greenshoe.