As the Indian stock market opens on January 6, 2025, several stocks are set to capture investors’ attention. With significant quarterly earnings reports and strategic moves from various companies, here’s a look at the stocks that are expected to be in the spotlight today.
Market Overview
The Nifty 50 index closed at 24,004.75 points, down by 0.76% in the previous session, while the BSE Sensex ended at 79,223.11 points, reflecting a decline of 0.90%. Analysts anticipate a cautious yet optimistic trading day ahead as key indices are expected to find support around the 23,800 mark and face resistance at approximately 24,250 points.
Stocks to Watch
- HDFC Bank
- Quarterly Performance: The bank reported a significant increase in deposits, up by 15.8% year-on-year to ₹25,635 billion. Gross advances also grew by 3%, indicating strong growth prospects.
- Bajaj Finance
- Growth Metrics: The company announced a remarkable 28% increase in assets under management to ₹3.98 trillion and a surge in new loans booked by 22%, showcasing robust demand for its financial products.
- FSN E-Commerce Ventures (Nykaa)
- Revenue Growth: Nykaa is expected to report consolidated net revenue growth exceeding mid-twenties, driven by strong performance in its beauty vertical and expansion in its eB2B distribution business.
- AU Small Finance Bank
- Strategic Moves: The Reserve Bank of India has approved HDFC Bank’s acquisition of up to 9.50% stake in AU Small Finance Bank, which could enhance HDFC’s foothold in the small finance banking sector.
- Marico
- Market Performance: Marico is anticipated to deliver mid-teen revenue growth for the quarter, with strong performance from its Saffola brand contributing positively amidst competitive challenges.
- Bank of Baroda
- Business Growth: The bank reported an impressive global business growth of 11.74% year-on-year, with total deposits rising significantly, reflecting its expanding customer base.
- NTPC Green Energy
- New Ventures: NTPC Renewable Energy has successfully bid for a capacity of 1,000 MW at a competitive tariff of ₹2.56 per kWh, reinforcing its commitment to renewable energy projects.
- HG Infra Engineering
- New Contracts: The company has received a Letter of Intent for setting up a substantial battery energy storage system in Gujarat, which aligns with India’s renewable energy goals.
- Brigade Enterprises
- Real Estate Development: Brigade Enterprises has signed an agreement for a land parcel worth ₹630 crore in Bengaluru for a residential project, indicating confidence in the real estate market.
- Adani Wilmar
- Sales Growth: The company reported a notable increase in sales volumes and revenue growth of 33%, driven by strong demand across its FMCG portfolio following strategic adjustments post-Adani group’s exit.
Conclusion
Today’s trading session promises to be dynamic as investors keep an eye on these key stocks that are poised for potential movements based on their recent performances and strategic developments. As always, investors should conduct their own research and consider market conditions before making investment decisions.
Disclaimer
The information provided in this article is based on market analysis and does not constitute financial advice from the author or publication. Investors are encouraged to consult with certified financial advisors before making any investment decisions. The author and publication will not be liable for any losses incurred as a result of trading decisions based on this information.
