 "stock, markets, stocks, equity, shares, bse, fund, mutual fund stock picks")
Stocks to watch on January 17, 2024: Global markets turned lower Wednesday as US Treasury yields topped 4 per cent mark overnight on Tuesday.
At 7:10 AM, Gift Nifty was quoting at 21,860 level, down over 100 points.
In Asia, most markets fell ahead of China's Q4 GDP, industrial production and retail sales data. Nikkei in Japan rebounced 1.3 per cent. Hang Seng in Hong Kong dipped 1.3 per cent, South Korea's Kospi sank 1.2 per cent while ASX 200 in Australia was below the flatline.
Overnight in the US, the Dow Jones declined 0.62 per cent, while the S&P 500 fell 0.37 per cent and the Nasdaq Composite ended 0.19 per cent lower.
Here's a list of stocks to watch today:
Q3FY24 earnings: Alok Industries, Asian Paints, Ganesh Housing Corporation, Happiest Minds Technologies, Hindustan Media Ventures, ICICI Prudential Life Insurance, IIFL Finance, LTIMindtree, Moschip Technologies, Oracle Financial Services Software, Quest Capital Markets, Roselabs Finance, Som Distilleries and Breweries, Speciality Restaurants, Steel Strips Wheels, Star Housing Finance, and TechIndia Nirman.
HDFC Bank: India's largest private sector lender reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for Q3FY24, topping estimates by over 1 percentage point. Net interest income (NII) increased 24 per cent Y-o-Y to Rs 28,471.34 crore, missing estimates.
ICICI Lombard General Insurance: The insurance firm reported a 22.4 per cent Y-o-Y rise in third-quarter profit at Rs 431 crore, helped by a growth in premiums and investment income. Net premium earned during the quarter rose 13.5 per cent to Rs 4,305 crore.
LTTS: L&T Technology Services, on Tuesday, retained its revenue growth forecast for the current financial year at 17.5 per cent - 18.5 per cent as all its five business verticals posted year-on-year growth for Q3FY24. L&T Technology's consolidated net profit rose to Rs 336 crore from Rs 297 crore a year earlier, marginally above analysts' estimate of Rs 331 crore. Revenue from operations rose 12 per cent Y-o-Y to Rs 2,422 crore.
Bharat Petroleum Corporation: BISPL, an indirect step-down subsidiary of the company, has announced its proposal for a Tender Offer for around $120 million 4.375% Senior Notes that were issued with a maturity date of January 18, 2027.
Godrej Properties: The company has acquired an additional one acre of land parcel in Yeshwanthpur, Bengaluru, having a developable potential of approximately 1.40 lakh square feet saleable area.
Adani Energy Solutions: The Adani Group firm reported 14.78 per cent Y-o-Y jump in Q3FY24 sales, and a pipeline of 2.1 crore smart meters with a contract value of Rs 25,100 crore. The distribution loss stands at 5.46 per cent in the third quarter as against 5.60 per cent in Q3FY23. It also maintained supply reliability of over 99.9 per cent.
G R Infraprojects: GR Kasganj Bypass Pvt Ltd, a wholly-owned subsidiary of the company, have executed the concession agreement with the National Highways Authority of India for project worth Rs 1,085.5 crore.
TV18 Broadcast: It reported a consolidated net loss of Rs 55.83 crore for Q3FY24 as against net profit of Rs 37.81 crore Y-o-Y, due to investments made on the sports and digital segment. Its consolidated revenue from operations was also down 5.17 per cent Y-o-Y to Rs 1,676.19 crore.
DCB Bank: The Reserve Bank of India has approved the appointment of Praveen Achuthan Kutty as the Managing Director & CEO of the bank for a period of three years with effect from April 29, 2024.
GMR Airports Infrastructure: GMR clocks 15.3 per cent Y-o-Y rise in air passenger traffic at 109.18 million.
BSE: Subhash Mundra ceased to be a Public Interest Director (PID) and Chairman of BSE from January 16, 2024.
ICICI Securities: ICICI Securities reported a standalone net profit of Rs 465 crore in Q3FY24, up 67 per cent Y-o-Y, while its standalone revenue from operations was Rs 1,322 crore, up 50 per cent on year.
PNC Infratech: It has received Letter of Award from M.P. Road Development Corporation for projects worth Rs 1,174 crore.
Rail Vikas Nigam: RVNL has formed a joint venture with Jakson Green Private Limited to explore opportunities in solar power projects in India and abroad.
Piramal Pharma: The company's Piramal Critical Care (PCC) division has announced the launch of a new 10mg/10mL (1 mg/mL) concentration of Zinc Sulfate for Injection USP in the US.
