Stocks to Watch on Jan 19: RIL, HUL, REC, Paytm, Tata Steel, Jet Airways

Stocks to watch on Friday, January 19, 2024: Tata Steel has reportedly rejected a trade union proposal to keep the blast furnaces operational at Port Talbot Steelworks in Wales, the UK

Stocks to Watch on January 19: Equity markets may look to stabilise on Friday, after two days of profit booking, supported by improved global sentiment. At 7:40 AM, Gift Nifty was up 28 points at 21,555.

Meanwhile, in Asia, Nikkei advanced 1.5 per cent, and Kospi gained 1 per cent. ASX200, and Hang Seng, on the other hand, added up to 0.7 per cent.

Overnight, Wall Street indices rebounded with the Dow Jones Industrial Average adding 0.54 per cent, the S&P 500 climbing 0.88 per cent, and the tech-heavy Nasdaq Composite jumping 1.35 per cent.

Meanwhile, here is a list of stocks to watch out today:

Q3FY24 earnings: Reliance Industries, Hindustan Unilever, UltraTech Cement, Hindustan Zinc, Supreme Industries, One 97 Communications, Central Bank, CreditAccess Grameen, Hatsun Agro Product, RBL Bank, Tejas Networks, Atul, Wendt (India), CESC, Avantel.

 

Reliance Industries: Reliance Industries’ (RIL’s) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth.

IndusInd Bank: The private sector lender reported a little over 17 per cent year-on-year (Y-o-Y) increase in net profit at Rs 2,297.9 crore for the December quarter (Q3FY24). Its net interest income (NII) grew 17.8 per cent Y-o-Y to Rs 5,295.7 crore.

The gross non-performing assets (GNPAs) stood at 1.92 per cent vs 1.93 per cent Q-o-Q. NNPA was flat at 0.57 per cent.

Jet Airways: The Supreme Court has directed Jalan Kalrock Consortium (JKC) to deposit Rs 150 crore by January 31.

Tata Steel: Tata Steel has rejected a trade union proposal to keep the blast furnaces operational at Port Talbot Steelworks in Wales, the UK, potentially jeopardising nearly 3,000 jobs, according to a report by the Guardian.

Bandhan Bank: The Reserve Bank of India has approved the appointment of Rajinder Kumar Babbar as whole-time director (to be designated as Executive Director) of the bank, for a period of three years.

Power Finance Corporation: The company has incorporated two special purpose vehicles (KPS III HVDC Transmission Limited, and Barmer I Transmission Limited) for development of Transmission System for evacuation of power from potential renewable energy areas in Rajasthan and Gujarat.

REC: The Ministry of New and Renewable Energy, Government of India, has designated REC Limited as the overall Programme Implementation Agency for Rooftop Solar (RTS) programme.

Supreme Petrochem: It reported net sales of Rs 1,183.32 crore  in Q3FY24 as compared to Rs 1,177.39 crore a year ago. The company, further, posted net profit of Rs 67.66 crore, down 25 per cent from profit of Rs 89.85 crore posted last year.

The company, however, said, missile attack by Yemen's Houthi rebels on commercial ships starting from late November is impacting exports of the company's products to USA, and Europe including Turkey.

Magnum Ventures: The Board has approved Rights Issue worth Rs 48.92 crore. It has fixed the Record Date as Thursday, January 25, 2024.

Finolex Industries: The company's total income fell 8.5 per cent Y-o-Y to Rs 1,054.81 crore during the December quarter, while its net profit jumped 20 per cent Y-o-Y to Rs 95.40 crore.

Metro Brands: The Board has approved an Interim Dividend of Rs 2.75 per equity share on the face value of the paid-up equity shares of Rs 5 each for FY24. The Record Date for the same will be January 31, 2024. Its net profit fell 12.6 per cent Y-o-Y to Rs 97.81 crore.

Mastek: The Board of Directors has declared an interim dividend of Rs 7 for FY24 with January 27 as the Record Date.

Lupin: The pharma major has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Febuxostat Tablets, 40 mg and 80 mg, to market a generic equivalent of Uloric Tablets, 40 mg and 80 mg, of Takeda Pharmaceuticals U.S.A., Inc. The product will be manufactured at Lupin's Pithampur facility in India.

Shalby: The company will acquire a 87.26 per cent stake in PK Healthcare for Rs 102 crore.