Stocks to Watch on January 8: GIFT Nifty on the NSE IX traded 10.5 points, or 0.05 per cent, higher at 21,788, signaling that Dalal Street was headed for positive start on Monday. Here’s a slew of stocks that will be in focus today for various reasons.
Titan: The company’s revenue rose 22 per cent YoY in the December quarter (Q3FY24). The jewellery division reported a 21 per cent growth in the domestic market.
Bajaj Auto: The company will consider a share buyback proposal today.
Tata Steel: Tata Steel India’s crude steel production rose 6 per cent both on a quarterly and yearly basis in Q3 to 5.32 million tonne.
Nykaa: It sees the BPC vertical’s GMV growth in the mid-twenties, and net sales value growth around twenty per cent YoY in Q3.
In Fashion, the industry level consumption remained muted and has not seen the uplift expected during the festive season. Fashion vertical GMV is expected to grow at nearly 40 per cent, with NSV growth seen in the low thirties.
Net sales value on a consolidated basis may grow in the mid-twenties and revenue growth may be in the low twenties year-on-year.
Godrej Consumer Products: The company expects mid-single digit volume growth on a consolidated basis in Q3.
In the domestic business, its organic business delivered steady underlying volume growth of mid-single digits and its inorganic business as Park Avenue and KamaSutra reported a double-digit volume growth.
Adani Wilmar: The company’s standalone sales fell 15 per cent in Q3 over last year. However, in terms of volume, it rose 6 per cent YoY.
Marico: The company said its consolidated revenue in Q3 fell in low single digits on a yearly basis, while operating profit saw a low double-digit growth. It expects a low single-digit jump in domestic volumes for the December quarter.
TVS Motor: It has signed a MoU with the Tamil Nadu government to invest Rs 5,000 crore in five years and employ 500 people.
Narayana Hrudayalaya: The company’s wholly owned subsidiary has received approval from the Insurance Regulatory and Development Authority of India to launch a health insurance business in India.
Federal Bank: The Reserve Bank of India (RBI) has asked the lender to submit a fresh proposal with at least two fresh names for the position of Managing director and Chief Executive Officer of the bank.
Bank of Baroda: The bank’s global deposits were up 8.3 per cent YoY in Q3 but fell 0.3 per cent sequentially. Domestic deposits rose 6.3 per cent YoY, while advances rose 13.4 per cent.
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