Stocks to Monitor: REC, NHPC, Wipro, TCS, SBI, Paytm, and Reliance, among Others

Stocks To Watch Today: On Thursday, the benchmark indices Sensex and Nifty fell for the third day in a row. This was mostly due to long-term selling in HDFC Bank and profit-taking in shares of consumer durables and utilities.

The 30-share BSE Sensex closed at 71,186.86, down 313.90 points, or 0.44 percent. Over the course of the day, it had a notable decrease of 835.26 points, or 1.16 percent, to hit 70,665.50.

At 21,462.25, the Nifty had a decrease of 109.70 points or 0.51 percent. It saw a significant decline of 286.4 points, or 1.32 percent, over the day, ending at 21,285.55.

According to GIFT Nifty trends, the indices are predicted to begin level on January 19, suggesting a muted start for the larger index with a gain of 7 points.

The following list of stocks will be watched closely on January 19 for a variety of reasons;

Reliance Industries: On Friday, January 19, the Mukesh Ambani-owned company Reliance Industries Ltd. will release its quarterly results for Q3FY24.

Paytm: For the third quarter of FY24, One 97 Communications, the parent company of the fintech giant Paytm, is expected to report strong revenue growth along with a decrease in net losses.

Tata Consultancy Services: On January 19, the shares of this IT corporation will go ex-dividend. In addition to a special dividend of Rs 18 per share for the current fiscal year, the business announced an interim dividend of Rs 9 per share on January 11.

Wipro: For Rs 3.17 crore, the IT services company has finalized a deal to purchase a 14% ownership position in Huoban Energy 11. Wipro would be able to use more renewable energy at its Maharashtra offices thanks to this agreement.

State Bank of India: The State Bank of India issued 10-year AT-1 bonds on Thursday in order to raise Rs 5,000 crore.

REC: The Ministry of New and Renewable Energy (MNRE) of the Government of India has designated REC as the main organization in charge of carrying out the rooftop solar (RTS) initiative. In addition to collaborating with stakeholders throughout the country, the MNRE is responsible for carrying out the program or plan that it designs.

HCLTech: On January 19, the IT major’s shares will go ex-dividend. The interim dividend of Rs 12 per share for the fiscal year 2024 was declared by the firm on January 12. The record date for the payment of this interim dividend is set for January 20.

NHPC: In addition to the basic offer size of 25,11,25,870 equity shares (representing 2.50 percent of the paid-up equity), the business has decided to execute the oversubscription option by an additional 10,04,50,348 equity shares (equal to a 1 percent interest) on January 19. This means that 35,15,76,218 equity shares, or 3.50 percent of the corporation, will now be the overall offer size.

Power Finance Corp: To facilitate the construction of transmission projects in Gujarat and Rajasthan, the corporation formed two special-purpose entities.

Indian Bank: The Reserve Bank of India has given the public sector bank permission to form a new wholly-owned subsidiary that would be dedicated to providing operational assistance.

Bandhan Bank: Rajinder Kumar Babbar has been appointed as a Whole-Time Director (formally termed as Executive Director) of Bandhan Bank for a period of three years, with approval from the RBI.

Poonawalla Fincorp: From October to December of the 2024 fiscal year, the non-banking financial company reported a 76.3 percent year-over-year growth in net profit, amounting to Rs 265.1 crore.

Lupin: The US Food and Drug Administration (US FDA) has approved the pharmaceutical company’s shortened new drug application, enabling the US market introduction of Febuxostat tablets.

IndusInd Bank: The private bank posted results that marginally above forecasts for the quarter ended in December of FY24. Net interest income climbed by 17.8% to Rs 5,295.6 crore, while standalone net profit surged by 17.3% to Rs 2,297.9 crore year over year.

Hindustan Unilever: The massive FMCG company has completed the transaction paperwork to purchase a 27.73 percent share in Transition Sustainable Energy Services One, a special purpose vehicle (SPV).