As the Indian stock market opens for trading today, several stocks are likely to be in focus based on recent developments. Here’s a quick overview of the companies that investors should keep an eye on.
Indian Railway Finance Corporation Ltd (IRFC)
Recent Development: IRFC has signed a Memorandum of Understanding (MoU) with Railway Energy Management Company Ltd (REMCL), a joint venture of the Ministry of Railways and RITES. This partnership aims to finance renewable energy projects to supply power to Indian Railways, supporting its goal of achieving net-zero carbon emissions by 2030.Current Price: ₹153.45
Market Cap: ₹2,005.36 crore
Price Change: +0.96%
RITES Ltd
Recent Development: RITES has secured a contract valued at ₹69.78 crore from Steel Authority of India Ltd (SAIL) for extensive repairs of 43 WDS6 locomotives at the Bhilai Steel Plant. This project is expected to span three years and enhance locomotive maintenance capabilities.Current Price: ₹300.00
Market Cap: ₹14,418.12 crore
Price Change: +2.47%
Avenue Supermarts Ltd (DMart)
Recent Development: Avenue Supermarts reported a 17.5% increase in standalone revenue for Q3 FY25, reaching ₹15,565.23 crore, up from ₹13,247.33 crore year-on-year. The company currently operates 387 stores, reflecting its expanding presence in the retail sector.Current Price: ₹3,790.00
Market Cap: ₹2,466.28 crore
Price Change: +5.00%
Hero MotoCorp
Recent Development: Hero MotoCorp recorded a 7.5% increase in total sales for 2024, totaling 59,11,065 units, driven by strong demand for motorcycles and scooters. However, December sales saw a 17.5% decline, highlighting challenges in the domestic market.Current Price: ₹4,269.95
Market Cap: ₹85,399.00 crore
Price Change: -0.93%
NHPC Ltd
Recent Development: NHPC announced receipt of its second gross payment of ₹250 crore under its Mega Insurance Policy, addressing business interruption losses from the October 2023 flash flood at its Teesta-V Power Station.Current Price: ₹83.41
Market Cap: ₹23,000 crore
Price Change: +1.18%
Varun Beverages
Varun Beverages has invested ₹413 crore to acquire an additional 2.42% stake in its South African subsidiary, The Beverage Company Proprietary Ltd (Bevco). This strategic investment aims to support debt repayment and enhance Bevco’s balance sheet for future growth.
Wockhardt Ltd
Wockhardt has received approval from CDSCO for Miqnaf (nafithromycin), a new treatment for Community-Acquired Bacterial Pneumonia (CABP). This development marks a significant advancement in CABP management and could boost the company’s pharmaceutical portfolio.
Hindustan Zinc
Hindustan Zinc reported a 2% YoY decrease in mined metal production to 265 kilotonnes (kt) in Q3 FY25 due to lower ore output at key mines but showed a sequential improvement due to better grades.
Bank of Maharashtra
Bank of Maharashtra posted a 16.9% YoY growth in total business, reaching ₹5.08 lakh crore, with gross advances rising by 21.2%, indicating strong performance in the banking sector.
V2 Retail
V2 Retail reported a remarkable 58% YoY surge in revenue, supported by robust Same Store Sales Growth (SSG) and expansion efforts with new outlets.
Biocon Ltd
Biocon received NMPA approval in China for its Tacrolimus capsules, further strengthening its global pharmaceutical portfolio and expanding its market reach.
Capital Small Finance Bank
Capital Small Finance Bank reported a 19.2% YoY rise in gross advances, alongside improved asset quality with a declining Gross NPA ratio.
Conclusion
Investors should closely monitor these stocks as they are likely to influence market movements today based on their recent developments and performance metrics.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions. Investments in securities are subject to market risks; read all related documents carefully before investing.
