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  5. Stocks to Watch, January 2: TVS Motor, BEL, Devyani International, Sapphire Foods, ITC, Vi, Indian Bank, Olectra Greentech, Aurobindo Pharma

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Stocks to Watch, January 2: TVS Motor, BEL, Devyani International, Sapphire Foods, ITC, Vi, Indian Bank, Olectra Greentech, Aurobindo Pharma

Upstox
By Upstox News Desk

6 min read | Updated on January 02, 2026, 08:31 IST

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SUMMARY

Stocks to Watch: Vodafone Idea (Vi) shares will be on investors’ radar as the telecom firm received a GST penalty notice worth ₹638 crore from the Office of Additional Commissioner, Central Goods and Service Tax, Ahmedabad, on Thursday, January 1.

Shares in focus, JAN 1, 2026

The GIFT NIFTY futures suggest that the NIFTY50 index will open 48 points higher. | Image: Shutterstock

Stocks to Watch: The domestic equity market is expected to open higher on Friday, January 2. The GIFT NIFTY futures suggest that the NIFTY50 index will open 48 points higher.
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Here is a list of stocks that may remain in focus today.
Devyani International, Sapphire Foods: Shares will be in focus as the companies are set to merge to create a single unified Yum! India franchisee for KFC and Pizza Hut.

Sapphire Foods, the franchise operator of Yum! Brands' restaurants, KFC and Pizza Hut, will merge with Devyani International Ltd, one of India's largest and fastest-growing chains of quick-service restaurant (QSR) operators, which also operates similar brands through a share-swap ratio.

The boards of Devyani International Ltd (DIL) and Sapphire Foods India Ltd (SFIL) approved a scheme of arrangement for the merger of SFIL with and into DIL at their respective meetings held on Thursday, marking a strategic consolidation of the two companies.

The strategic consolidation of the two QSR operators will also create "a single unified Yum! India franchisee for KFC and Pizza Hut," said a late-night joint statement.

ITC, other tobacco stocks: The Finance Ministry has notified amendments to the Central Excise Act imposing an excise duty ranging from ₹2,050 to ₹8,500 per 1,000 sticks based on cigarette length, effective February 1. This duty will be over and above 40% GST.

The ministry has also notified the Health and National Security Cess Act, levying cess on the manufacturing capacity of pan masala-related businesses from February 1.

The total tax incidence on pan masala, after taking into account 40% GST, will be retained at the current level of 88%.

The revised tax structure replaces the existing regime of 28% GST, along with a compensation cess on tobacco and related products.

Vodafone Idea: Vodafone Idea (Vi) shares will be on investors’ radar as the telecom firm received a GST penalty notice worth ₹638 crore from the Office of Additional Commissioner, Central Goods and Service Tax, Ahmedabad, on Thursday, January 1.
Bharat Electronics (BEL): Shares will be in focus, as the firm bagged an additional order on Thursday, January 1. The Navratna defence PSU company has secured an additional order worth ₹569 crore since its last disclosure on December 29, 2025. The order received includes communication equipment, medical electronics, instant fire detection & suppression systems, upgrades, spares, services, etc.

On December 29, 2025, BEL had received major orders for radars, tank overhaul, communication equipment, fire control systems, simulators, antenna stabilisation systems, security software, components, upgrades, spares, services and more.

Aurobindo Pharma: Auro Pharma, a wholly owned subsidiary of Aurobindo Pharma, at its meeting held on Monday, i.e., January 1, 2026, has approved the acquisition of the non-oncology prescription formulations business (the “Business”) of Khandelwal Laboratories Private Limited on a going concern basis through a Business Transfer Agreement (“BTA”).
Olectra Greentech: The company has declared December 31, 2025, as the Commercial Operation Date (COD) for its Greenfield Electric Vehicle (EV) Manufacturing Facility situated at Seetharampur, Hyderabad, Telangana ("Facility") with an annual per shift production capacity of 2,500 buses.

"This declaration has been communicated to State Bank of India ("Lender"). This Phase I capacity achievement of 2,500 buses per annum represents 50% of the planned per-shift annual capacity of 5,000 buses per annum," the company said.

TVS Motor Company: TVS Motor Company on Thursday reported a 50% growth in sales at 4,81,389 units in December 2025 against 3,21,687 units in the same month of 2024.

The total two-wheeler sales grew by 48% at 4,61,071 units last month compared to 3,12,002 units in December 2024, the company said in a statement.

Domestic two-wheeler sales increased 54% to 3,30,362 units against 2,15,075 units in the year-ago month, it added.

Hero MotoCorp: Two-wheeler maker Hero MotoCorp on Thursday reported a 40% increase in wholesales to 4,56,479 units in December 2025 compared to 3,24,906 units in the same month of 2024.

Domestic sales were 4,19,243 units last month against 2,94,152 units in December 2024.

This reflects robust demand driven by continued festive momentum, new launches, and strong performance in both the ICE and EV scooter portfolios, Hero MotoCorp said in a regulatory filing.

Maruti Suzuki India (MSIL): Maruti Suzuki India will soon take a call on whether to revise upwards prices of its small cars, for which it reduced rates last year over and above the GST benefit of 8.5%, a senior company official said on Thursday.

Last year in September, after GST 2.0 kicked in, the company had cut prices of the entry-level model S Presso by up to ₹1,29,600; Alto K10 by up to ₹1,07,600; Celerio by ₹94,100 and Wagon-R by up to ₹79,600, among others.

"In the small cars, our purpose of going for the strategic pricing was to increase the motorisation...," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee, told reporters in an interaction.

MOIL: The company has fixed/revised prices of different grades of Manganese Ore and other products, effective from January 1, 2026. Here is the list.

  • The prices of all Ferro grades of manganese ore with Manganese content of Mn- 44% and above have been increased by 3% on the prices prevailing since 01.12.2025 w.e.f. midnight of 31.12.2025/01.01.2026 for January 2026.

  • The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44% have been increased by 3% on the prices prevailing since 01.12.2025 w.e.f. midnight of 31.12.2025/01.01.2026 for January 2026.

  • The prices of SMGR (Mn-30%) and Fines grades have been increased by 5% on the prices prevailing since 01.12.2025 w.e.f. midnight of 31.12.2025/01.01.2026 for January 2026.

Punjab & Sind Bank: Shares of the bank will be in focus as the lender released its business update for the December quarter. Its total business grew 3.49% QoQ and 11.84% YoY.

Total deposits rose 2.58% QoQ and 9.27% YoY.

Indian Bank: The bank shared its business update for the quarter gone by (Q3 FY26). Total business grew 13.4% YoY, while total deposits jumped 12.5% YoY. Gross advances increased by 14.5%.
South Indian Bank: In its business update for the quarter ended December 31, 2025, the lender said Gross Advances grew 11.27% YoY while Total Deposits increased by 12.17%.
KPI Green Energy: KPI Green Energy on Thursday announced securing approval to connect 32.40 megawatts of solar and hybrid projects to the main electricity grid.

In an exchange filing, the company said it has developed these projects for clients of its subsidiary company.

"We have received charging/energization approval for 32.40 MW of solar and hybrid solar power projects under our CPP business segment," it added.

With inputs from PTI
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