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Stocks to watch: Shares of firms like Adani Wilmar, TCS, Tata Elxsi, Mahanagar Gas, IREDA, and others will be in focus on Friday’s trade
Stocks to Watch Today
Stocks to Watch on January 10: The Indian stock market ended lower on Thursday, pressured by major financial and IT stock declines. The market sentiment was further weighed down by continued foreign fund outflows and cautious investor expectations ahead of the upcoming December quarter corporate earnings. Additionally, concerns about fewer rate cuts in the U.S. added to the negative outlook.
Here are key stocks to focus on:
Mahanagar Gas: The company’s domestic gas allocations have been increased by 26%, effective from January 16.
Mazagon Dock: Delivered the sixth Scorpene-class submarine, Vaghsheer, to the Indian Navy.
Polyplex Corporation: Announced a Rs 558 crore investment for setting up a new BOPET film plant.
Tata Elxsi: Reported a 13.3% quarter-on-quarter drop in net profit, which stood at Rs 199 crore for the period ending December 31, 2024, compared to Rs 229.4 crore in the September quarter.
TCS: India’s largest IT services company saw an 11.95% increase in net profit for the December quarter, rising to Rs 12,380 crore from Rs 11,058 crore in the same period last year. However, the company’s revenue of Rs 63,973 crore showed a slight decline from Rs 64,259 crore in the September quarter.
IREDA: The company reported a 26.8% year-on-year growth in net profit, reaching Rs 425.4 crore for Q3FY25. Its total revenue from operations surged by over 35% to Rs 1,698.45 crore.
Adani Wilmar: The company’s founder is set to sell a 13.5% stake (17.54 crore shares) through an Offer For Sale (OFS), as announced in an exchange filing.
Adani Total Gas: The company has been informed by GAIL (India) Ltd. about a 20% increase in its APM gas allocation, effective from January 16, 2025. This revision is expected to have a positive impact on the company and stabilize retail prices for consumers.
Phoenix Mills: The real estate company posted strong growth for Q3 FY25 and the first nine months of FY25, driven by solid performance across its retail, hospitality, commercial, and residential segments. Retail consumption for Q3 FY25 was Rs 3,998 crore, reflecting a 21% increase from the previous year.
GTPL Hathway: The digital cable TV and broadband provider reported a 57.2% year-on-year decline in net profit for Q3 FY25, amounting to Rs 10.1 crore. Revenue from operations rose 4.3% to Rs 887.2 crore.
Samvardhana Motherson: The company took steps through its subsidiary, MSSL Consolidated Inc., to secure assets and patented technology from Prysm Systems. SMIL opted for alternative measures to safeguard its investment after conditions for converting convertible secured notes into equity were not met.
IRB Infrastructure: Reported a 19% year-on-year increase in toll collections for December 2024, totaling Rs 580 crore, compared to Rs 488 crore in December 2023.
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