Stocks to Watch on January 24
Stocks To Watch Today: Here’s a slew of shares that might be in concentrate on January 24 for varied causes.
Stocks To Watch Today: The benchmark Sensex and Nifty indices are anticipated to open strongly on January 24, as indicated by the optimistic developments within the GIFT Nifty, displaying a acquire of 87 factors for the broader index.
Also Read: Terrible Tuesday! Why Sensex Crashed Today? Will Stock Market Bounce Back?
On January 23, the fairness market continued its decline from the earlier session, witnessing a 1.5 % drop in each the Sensex and Nifty50. This decline was noticed throughout varied sectors, excluding the pharmaceutical sector.
By the closing bell, the Sensex had declined by 1,053.10 factors or 1.47 %, settling at 70,370.55, whereas the Nifty recorded a drop of 333.00 factors or 1.54 %, closing at 21,238.80.
Here’s a slew of shares that might be in concentrate on January 24 for varied causes;
Mahindra & Mahindra Financial Services: The board has granted approval to the non-banking finance firm to subject secured Non-Convertible Debentures (NCDs) amounting to Rs 3,000 crore by means of non-public placement. This issuance contains a base subject dimension of as much as Rs 500 crore and a inexperienced shoe possibility of as much as Rs 2,500 crore, with a face worth of Rs 1 lakh per debenture.
Bharti Airtel: On Tuesday, the telecommunications companies firm declared its intention to make a prepayment of Rs 8,325 crores to the Department of Telecom for spectrum dues. This prepayment is particularly aimed toward settling a portion of the deferred liabilities linked to the spectrum obtained within the 2015 public sale. The firm revealed in an alternate submitting that these liabilities incurred an curiosity value of 10 %.
Pidilite Industries: The producer of adhesives has achieved a considerable 66 % yr-on-yr progress in consolidated revenue, reaching Rs 511 crore for the quarter ending December FY24, supported by robust operational efficiency. During the quarter, income from operations additionally skilled a YoY progress of 4.4 %, reaching Rs 3,130 crore.
L&T Finance Holdings: The non-banking finance firm has introduced a consolidated internet revenue of Rs 640 crore for the October–December interval of FY24, marking a 41 % enhance over the corresponding interval final yr. The internet curiosity earnings for the quarter additionally witnessed an 8 % yr-on-yr progress, reaching Rs 1,833 crore. Additionally, Sudipta Roy has been appointed because the Managing Director and Chief Executive Officer of the corporate for a 5-yr time period, efficient from January 24.
Axis Bank: The non-public sector lender has reported a 3.7 % yr-on-yr enhance in internet revenue, reaching Rs 6,071.1 crore for the quarter ending December FY24, sustaining secure asset high quality. During the quarter, internet curiosity earnings skilled a progress of 9.4 %, reaching Rs 12,532 crore in comparison with the identical interval final yr, with a internet curiosity margin of 4.01 %. In phrases of asset high quality, gross Non-Performing Assets (NPA) decreased by 15 foundation factors quarter-on-quarter to 1.58 %, and internet NPA remained regular at 0.36 % on a sequential foundation.
Tata Elxsi: Tata Elxsi, a supplier of design and expertise companies, disclosed a 6% yr-on-yr (YoY) rise in internet revenue, reaching Rs 206.4 crore for the quarter ending December 2023, in comparison with Rs 194.6 crore within the corresponding interval of the earlier yr. The income from operations skilled an 11% YoY enhance, reaching Rs 914.2 crore in comparison with Rs 817.7 crore in the identical quarter of the previous fiscal yr.
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