Stocks to Watch: The domestic equity market is expected to open in the green on Monday, January 6.
At 7:58 AM, the GIFT NIFTY futures were trading at 24,129.50, up 43.50 points, or 0.18% higher. This suggests that the NIFTY50 index will open 37 points higher.
On the global front, share markets got off to a patchy start in Asia on Monday ahead of a week brimming with economic news that should underline the relative outperformance of the United States and support the dollar's ongoing bull run.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6%, having lost 1% last week.
On Friday, the Dow Jones Industrial Average rose 339.86 points, or 0.80%, to 42,732.13; the S&P 500 gained 73.92 points, or 1.26%, to 5,942.47; and the Nasdaq Composite gained 340.88 points, or 1.77%, to 19,621.68.
Here is a look at the list of stocks that may remain in focus today.
Dabur: Dabur expects a "low single-digit growth" in the December quarter along with a "flattish operating profit" as the homegrown FMCG major faced inflationary headwinds in some of the segments.
This forced
Dabur to go for "tactical price increases" and tried to mitigate the inflationary pressure through cost-efficiency initiatives partially, Dabur informed in its quarterly updates on Friday.
During the October-December period, rural consumption of FMCG was resilient and continued to grow faster.
Hindustan Unilever Limited (HUL): The FMCG major is nearing a deal to acquire Peak XV Partners-backed Minimalist, a Jaipur-based skincare startup, in a ₹3,000 crore ($350 million) deal, as per news reports.
"If the deal goes through, Minimalist would have seen its valuation increase from around Rs 630 crore (about $75 million) to ₹3,000 crore ($350 million) in a span of about three years, largely on the back of increasing revenues and a stable profit profile. It will also be one of the largest deals in the direct-to-consumer (D2C) space in recent years, especially in the skincare industry," said a report by Moneycontrol.
Marico: FMCG maker
Marico on Friday reported a "sequential uptick" in domestic volume growth for the December quarter but said its operating profit growth will be 'modest' due to higher input costs.
Marico expects a "higher-than-anticipated gross margin contraction" as key inputs faced 'higher-than-expected' inflation, said the homegrown firm, which is the maker of Saffola, Parachute, Hair & Care, Nihar, Livon, etc.
Kotak Mahindra Bank: The private sector lender on Friday announced that Milind Nagnur, currently serving as the chief operating officer (COO) and chief technology officer (CTO) of the bank, has tendered his resignation due to personal reasons. His resignation will take effect from February 15, 2025.
ICICI Bank: The bank has received two orders from the Maharashtra Goods and Services Tax Department demanding a total of over Rs 153 crore in tax and penalties.
HDFC Bank: The country's biggest private sector lender, HDFC Bank, on Saturday said it has registered a marginal 3% increase in loan growth at ₹25.42 lakh crore in the December quarter.
Total advances were ₹24.69 lakh crore at the end of December 31, 2023, HDFC Bank said in a regulatory filing.
The lender reported a 15.8% rise in total deposits to ₹25.63 lakh crore as against ₹22.14 lakh crore at the end of the third quarter of the previous financial year.
AU Small Finance Bank: Shares will be in focus as the Reserve Bank of India (RBI) has granted HDFC Bank permission to acquire up to a 9.5% stake in AU Small Finance Bank within a year from the approval date. If the acquisition is not finalised within this timeframe, the approval will lapse.
ITC: ITC shares will be in focus today as January 6 was fixed as the record date for the demerger of its hotel business demerger. The restructuring will see ITC retain a 40% stake in its hotel business, with the remaining 60% directly held by shareholders through a rights entitlement. Shareholders will receive one ITC Hotels share for every 10 ITC shares they own.
Bajaj Finance: Bajaj Finance released its October-December quarter (Q3) business update on January 3.
The company’s assets under management (AUM) rose 28% year-on-year to ₹3.98 lakh crore as of December 31, 2024, compared to ₹3.10 lakh crore a year ago. AUM grew by approximately ₹24,100 crore during the third quarter of FY25.
Adani Wilmar: Adani Wilmar, which sells edible oils and other food items, on Saturday reported a 6% annual growth in sales volumes and a 33% increase in revenue in the December quarter.
Adani Wilmar, established jointly by Adani Group and Singapore Wilmar Group in 1999, markets its products mainly under the Fortune brand.
Adani Group recently announced its exit from the joint venture by divesting its entire 44% stake to Wilmar Group as well as an open market sale.
Vedanta: In its Q3 business update, Vedanta announced that aluminium production stood at 614 kilotonnes (kt), marking a 3% year-on-year (YoY) growth and a 1% decline quarter-on-quarter (QoQ). For the nine months, aluminium output rose to 1,819 kt, a 3% year-on-year increase.
Meanwhile, Zinc India achieved its highest-ever nine-month refined metal production at 783 kt, up 3% year-on-year.
Bajaj Housing Finance: Bajaj Housing Finance Ltd reported robust growth for the quarter ended December 31, 2024, with its assets under management (AUM) rising by 26% year-on-year (YoY) to ₹1,08,300 crore, compared to ₹85,929 crore as of December 31, 2023.
IDBI Bank: IDBI Bank on Saturday said it has posted a credit growth of 18% at ₹2.06 lakh crore during the December quarter.
Total advances were ₹1.75 lakh crore at the end of December 31, 2023, IDBI Bank said in a regulatory filing.
The lender reported a 9% rise in total deposits to ₹2.82 lakh crore as against ₹2.58 lakh crore at the end of the third quarter of the previous financial year.
UCO Bank: UCO Bank on Friday reported robust year-on-year growth across key parameters for the quarter ending December 2024, with the lender's total business rising by 12.18% to ₹4.88 lakh crore.
According to a provisional disclosure submitted to the stock exchanges, total advances saw a sharper gain, registering a 16.20% on-year rise to ₹2.08 lakh crore, driven by a significant 18.83% growth in domestic advances, which stood at ₹1.83 lakh crore.
Bank of India: State-owned Bank of India, as per a report by Business Standard, is eyeing to sell ₹245.68 crore worth of non-performing loans of Uttar Pradesh-based Simbhaoli Sugars Ltd. and has invited counterbids from entities interested in acquiring the bad loans through a Swiss challenge auction.
IndusInd Bank: The private lender's net advances increased 12% to ₹3,67,166 crore as of December 31, 2024, as compared to ₹3,27,057 crore as of December 31, 2023.
On a sequential basis, the bank's net advances grew 3% from ₹3,57,159 crore as of December 31, 2024.
The bank reported an 11% rise on a YoY basis while a 1% decline in QoQ in deposits to ₹4,09,570 crore as of December 2024.
Bandhan Bank: Bandhan Bank on Saturday said its loans and advances grew by 15% year-on-year (YoY) to Rs 133,285 crore as of the quarter ended December 2024, compared to Rs 115,940 crore at the end of the same quarter last fiscal. Quarter-on-quarter (QoQ), loans and advances rose 2% from Rs 130,649 crore as of the quarter ended September 2024.
L&T Finance:
L&T Finance Ltd on Friday (January 3) reported significant growth in its retail-focused business for Q3 FY25, with retailisation increasing to 97%, up from 91% in the corresponding quarter of the previous year.
Retail disbursements for the quarter rose by 4.4% year-on-year (YoY) to ₹15,170 crore, compared to ₹14,531 crore in Q3 FY24. The retail loan book demonstrated robust growth, surging 23.3% YoY to ₹92,200 crore as of December 31, 2024, up from ₹74,759 crore a year earlier.
(With inputs from PTI and Reuters)
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