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  1. Stocks to Watch, January 21: Rallis India, Restaurant Brands Asia, Eternal, Waaree Energies, Dr Reddy's, JSW Energy, Coal India, Shoppers Stop, United Spirits

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Stocks to Watch, January 21: Rallis India, Restaurant Brands Asia, Eternal, Waaree Energies, Dr Reddy's, JSW Energy, Coal India, Shoppers Stop, United Spirits

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10 min read | Updated on January 21, 2026, 08:13 IST

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SUMMARY

Stocks to Watch: JSW Thermal Energy Two Limited, a subsidiary of JSW Energy Ltd, has signed a Power Purchase Agreement (“PPA”) with West Bengal State Electricity Distribution Company Limited (“WBSEDCL”) for a greenfield 1,600 MW (2 x 800 MW) super/ultra super critical thermal power plant.

Shares in focus, JAN 21, 2026

The GIFT NIFTY futures suggest that the NIFTY50 index will open 7 points higher. | Image: Shutterstock

Stocks to Watch: The domestic equity market is expected to open flat on Wednesday, January 21. The GIFT NIFTY futures suggest that the NIFTY50 index will open 7 points higher.
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Here is a list of stocks that may remain in focus today.
Q3 earnings today: Over 50 companies are slated to announce their December quarter numbers today. The list includes names such as Dr Reddy's Laboratories, Eternal, Waaree Energies, HPCL, Bank of India, Oracle Financial Services, PNB Housing Finance, Supreme Industries, KPI Green Energy, Anant Raj, Vardhman Textiles, and Tata Communications.
Restaurant Brands Asia Ltd (RBA): The operator of Burger King® in India and Burger King® and Popeyes® in Indonesia, and existing promoter of RBA, i.e. QSR Asia Pte. Ltd. (majority owned by Everstone Capital), on Tuesday announced that they have entered into definitive agreements pursuant to which Inspira Global will acquire a controlling interest in RBA, subject to applicable approvals.

The proposed transaction marks the complete exit of QSR Asia Pte. Ltd., in line with its planned investment lifecycle.

The transaction will be executed, inter alia, through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage arm. In addition to acquiring the entire 11.26% shareholding of QSR Asia Pte. Ltd. for nearly ₹460 crore, Inspira Global proposes to infuse around ₹900 crore through a preferential allotment of equity shares and around ₹600 crore through the preferential allotment of warrants.

These transactions will trigger an open offer to public shareholders of RBA, the company said.

JSW Energy: JSW Thermal Energy Two Limited, a subsidiary of JSW Energy Ltd, has signed a Power Purchase Agreement (“PPA”) with West Bengal State Electricity Distribution Company Limited (“WBSEDCL”) for a greenfield 1,600 MW (2 x 800 MW) super/ultra super critical thermal power plant and will be commissioned in Salboni, West Bengal, within six years.
Aditya Birla Lifestyle Brands: Fidelity Investments sold a 1.94% stake in Aditya Birla Lifestyle Brands on Tuesday for nearly ₹261 crore through an open market transaction.

US-based Fidelity Investments, through its arm Fidelity Securities Fund, Fidelity Blue Chip Growth Fund, offloaded 2,36,97,487 shares, representing a 1.94% stake in Aditya Birla Lifestyle Brands Ltd (ABLBL), as per the bulk deal data on the BSE.

The shares were disposed of at an average price of ₹110 apiece, taking the deal value to ₹260.67 crore.

Details of the buyers of ABLBL's shares could not be ascertained on the exchange.

Rallis India: Agri input company Rallis India, a Tata enterprise, on Tuesday reported an over 80% year-on-year decline in its profit after tax at ₹2 crore during the quarter ending December 2025.

The company's PAT (profit after tax) stood at ₹11 crore during the corresponding period of the previous fiscal.

In a regulatory filing, Rallis India said the quarter included exceptional items -- the additional gratuity provision on account of Wage Code implementation.

During the third quarter of FY26, the company reported a 19% growth in revenue at ₹623 crore compared to ₹522 crore in the same period of the previous year, driven primarily by strong volume growth across businesses.

HDFC Bank: HDFC Bank on Tuesday said that the RBI has approved the appointment of Kaizad Bharucha as a whole-time director on the bank's board.
Coal India: Coal India Ltd (CIL) on Tuesday said it has received a mineral concession licence from the Ministry of Mines for the Kawalapur rare earth element (REE) block in Maharashtra.

The miner will have a licence for the block over a five-year period, the company informed stock exchanges.

The development is considered a key step in the miner’s diversification into the strategic critical mineral segment.

Unimech Aerospace: Bengaluru-based Unimech Aerospace and Manufacturing Ltd on Tuesday announced a joint venture with Gulf-based Yusuf Bin Ahmed Kanoo Company Ltd (“YBA Kanoo”).

The joint venture will be established with Unimech holding a controlling 51% stake and YBA Kanoo holding 49%, and will operate under the name “YBAK Unimech Advanced Manufacturing Solutions”, Unimech said in a statement.

Unimech is an Indian precision engineering and manufacturing company specialising in high-precision components and advanced machining solutions for the aerospace, defence, and industrial sectors.

United Spirits: Diageo-controlled liquor maker United Spirits Ltd on Tuesday reported a 24.77% rise in its consolidated net profit to ₹418 crore for the December quarter of FY26.

The company had posted a net profit of ₹335 crore in the October-December quarter a year ago, according to a regulatory filing by United Spirits Ltd (USL).

Its revenue from operations rose 2.71% to ₹7,942 crore in the December quarter under review. It was ₹7,732 crore in the corresponding period of the previous fiscal.

USL’s total expenses stood at ₹7,442 crore, up 2.56% in the December quarter.

Tribhovandas Bhimji Zaveri Ltd: Tribhovandas Bhimji Zaveri Ltd (TBZ) on Tuesday posted more than a two-fold jump in consolidated net profit to ₹80.63 crore for the third quarter of the 2025-26 fiscal year on strong sales.

Net profit stood at ₹29.87 crore in the same quarter of the previous fiscal, according to a regulatory filing.

Total income rose 14.51% to ₹1,063.47 crore during October-December FY26 compared with ₹928.66 crore a year ago.

Expenses remained higher at ₹954.97 crore as against ₹887.07 crore.

"During the quarter, we delivered healthy revenue growth. Profitability expanded at a meaningfully faster pace, supported by stronger gross margins and improved operating leverage," TBZ Chairman and Managing Director Srikant Zaveri said.

PTC India Financial Services: PTC India Financial Services on Tuesday posted around a 27% fall in standalone net profit to ₹49.09 crore for the December quarter, mainly due to a decline in interest income.

The company had clocked a net profit of ₹67.14 crore in October-December FY25, it said in an exchange filing.

Total income fell to ₹125.04 crore from ₹158.12 crore in the year-ago quarter. Income from interest trimmed to ₹110.06 crore from ₹156.70 crore.

A part of PTC India, the company is engaged in the business of providing financing solutions to companies with projects in the power sector and related areas.

Shoppers Stop: Retail chain Shoppers Stop on Tuesday reported a decline of 69.13% in its consolidated net profit at ₹16.12 crore in the December quarter of FY26, citing factors such as a shift in the festival period and uneven consumption trends.

The company posted a net profit of ₹52.23 crore in the October-December period a year ago, according to a regulatory filing from Shoppers Stop, the retail firm promoted by the Raheja family.

Its revenue from operations was marginally up 2.63% to ₹1,415.82 crore in the December quarter. It was at ₹1,379.47 crore a year ago.

Ujaas Energy: Ujaas Energy on Tuesday said its December quarter net profit plunged to ₹15 lakh from ₹3.93 crore a year ago, mainly due to lower revenues.

Revenue from operations declined to ₹3.48 crore in the quarter ended December 31, 2025, from ₹8.16 crore a year ago, as per a regulatory filing.

Cipla: Drug firm Cipla on Tuesday said it has tied up with Immunoadoptive Cell Therapy to commercialise talicabtagene autoleucel, an indigenously developed CAR-T cell therapy, in the Republic of South Africa, Algeria, and Morocco.

The company, through its subsidiary Medpro Pharmaceutica, has entered into an exclusive licence and supply agreement with ImmunoACT.

As part of this collaboration, ImmunoACT will manufacture the product, and Cipla will commercialise it in the licensed African territories, thereby expanding access to this new treatment to markets currently with unmet needs, the Mumbai-based drug major said in a statement.

Indiamart Intermesh: Indiamart Intermesh Ltd, a B2B e-commerce company, on Tuesday reported 55.62% rise in consolidated net profit to ₹188.31 crore for the December quarter FY26.

The company had posted a net profit of ₹121 crore during the October-December period a year ago, according to a regulatory filing from Indiamart Intermesh Ltd (IIL).

Revenue from operations was up 13.35% to ₹401.6 crore in the December quarter. It was ₹354.27 crore in the year-ago period.

Jammu and Kashmir Bank: Jammu and Kashmir Bank on Tuesday announced robust financial numbers for the October–December quarter of FY26, registering a 10.4% rise in net profit annually and an 18.7% growth sequentially.

The bank's net profit rose to ₹586.73 crore in the latest third quarter from ₹531.51 crore recorded in the corresponding three-month period of the previous financial year, according to an official statement.

The bank's board of directors approved the quarterly results for the third quarter and the nine months of the ongoing fiscal year during a meeting.

Groww: Investment platform Groww on Tuesday announced the pilot launch of Groww Prime, a specialised opt-in feature designed to help users manage their mutual fund investments more effectively.

By opting for this service, users can gain access to deeper portfolio insights, 24/7 chat support and personalised guidance to help them make better investment decisions, Groww said in a statement.

The feature will allow users to understand which mutual funds may suit their goals, how to balance their portfolio in line with their risk-return expectations, and how to navigate key investment decisions, redemptions, and rebalancing.

Persistent Systems: IT services firm Persistent Systems on Tuesday posted a 17.81% increase in consolidated net profit to ₹439.45 crore for the quarter ended December.

In the year-ago period, the profit was ₹372.99 crore.

The Pune-headquartered firm’s revenue from operations rose 23.37% to ₹3,778.20 crore in Q3 FY26, from ₹3,062.28 crore in Q3 FY25.

During the quarter, Persistent registered a one-time impact of ₹89 crore from the implementation of the new labour codes.

On a sequential basis, the company’s profit fell 6.7% while revenue rose 5.5%.

Apollo Micro Systems: Apollo Micro Systems Ltd (AMSL) on Tuesday said it will invest ₹300 crore to set up a manufacturing facility in Telangana.

The company has also acquired a land parcel of 22,988 square metres at TSIIC, Hardware Park Phase II in Hyderabad, it said in an exchange filing.

AMSL said it would invest ₹30,000 lakhs (₹300 crore) in a new electronics and electromechanical manufacturing facility.

"The company proposes to undertake the capital expenditure for the development of the aforesaid site into an integrated facility for the manufacturing, assembly, integration and testing of weapon system platforms such as Grad rockets, anti-submarine warfare rockets, anti-tank mines, artillery munitions and other similar products," the filing said.

AU Small Finance Bank: AU Small Finance Bank Ltd on Tuesday reported a 26% jump in profit after tax to ₹668 crore for the third quarter ended December 2025.

The Jaipur-based bank had posted a profit after tax of ₹528 crore in the corresponding period last year.

The total income of the bank rose 16% to ₹3,065 crore during the quarter under review from ₹2,641 crore in the same period of last year, AU Small Finance Bank said in a regulatory filing.

Vikram Solar: Solar module manufacturer Vikram Solar on Tuesday said its consolidated net profit jumped fivefold to ₹98 crore in the December quarter compared to a year ago, mainly on the back of higher revenues.

Consolidated net profit stood at ₹19 crore in the quarter ended December 2024, a company statement said.

Revenue from operations rose to ₹1,106 crore in the latest third quarter from ₹1,026 crore in the same period a year ago, it said, adding that the company's order book stood at 10.6 GW as of December 31, 2025.

The company has 84% domestic and 16% export orders.

With inputs from PTI
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