Stocks to Watch: The domestic equity market is expected to open in negative territory on Thursday, January 9.
At 8:03 AM, the GIFT NIFTY futures were trading at 23,716.50, down 7 points, or 0.03%. This implies that the NIFTY50 index will open 79 points lower.
On the global front, selling in stocks continued, with most Asian share indexes ticking down in early trading on Thursday. The dollar was stable, while oil prices edged lower.
The benchmark 10-year US Treasury yield eased to 4.6749% in the latest session, pulling back from the overnight high of 4.73%, a peak since April 2024.
In the overnight trade, US stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation.
Here is a list of stocks that may remain in focus today.
TCS: Shares of IT bellwether
Tata Consultancy Services (TCS) will be on investors' radar on Thursday, January 9, as the company is slated to release its December quarter (Q3 FY25) results today. The IT services giant is expected to post a muted earnings set given furloughs and currency fluctuations.
Key announcements include management commentary on the growth outlook, deal updates, pricing trends, and developments in the BFSI sector.
Other earnings today: Besides TCS, eight different companies are slated to announce their Q3 results today. The list includes names such as GTPL Hathway Ltd., Mishka Exim Ltd., Tata Elxsi Ltd, Indian Renewable Energy Development Agency (IREDA), Vivo Bio Tech Ltd., Teamo Productions Hq Ltd., Padam Cotton Yarns Ltd., and Yash Highvoltage Ltd.
Tata Motors: JLR on Wednesday reported increased wholesale volumes for the third quarter of FY25 (three-month period to 31 December 2024), reflecting an improvement following supply disruptions in the second quarter of FY25.
Retail sales of 106,334 units in the third quarter (including the Chery Jaguar Land Rover China JV) were down 3% compared to Q3 FY24 and up 3% compared to Q2 FY25. Retail sales for the financial year to date were 320,622, up 1% compared to the prior year.
PN Gadgil Jewellers: The company shared its Q3 business update on Wednesday. In Q3 FY25, PNG Jewellers witnessed a consolidated YoY growth of around 24% compared to the same period in Q3 FY24. This growth was driven by a strong increase in same-store sales growth, festive demand in Dussehra, Diwali, and the wedding season.
Hindalco Industries: Shares are expected to be in focus today as, according to news reports, Novelis, the company's 100% subsidiary, expects its earnings before interest, tax, depreciation, and amortisation (EBITDA) on an adjusted basis to be between $360 million and $370 million, which is lower than the $454 million figure it reported during the same quarter last year.
Brigade Enterprises: Realty firm
Brigade Enterprises Ltd will invest around ₹4,500 crore to develop an integrated 10-acre housing and commercial project in Hyderabad to expand the business to encash strong demand for luxury homes and premium office-retail spaces.
Bengaluru-based Brigade Enterprises launched its new mixed-use project, 'Brigade Gateway,' on Wednesday at Neopolis Kokapet, Hyderabad.
ACME Solar Holdings: The company shared an update on the commissioning of an additional aggregate capacity of 90 MW of solar power projects in Rajasthan by wholly owned subsidiaries of ACME Solar Holdings Limited.
It added that ACME Solar Holdings Limited (“ASHL”), through its wholly owned subsidiaries, viz. ACME Dhaulpur Powertech Private Limited and ACME Raisar Solar Energy Private Limited commissioned the remaining capacity of 62 MW and 28 MW, respectively, on January 07, 2025. These two plants are now fully commissioned to a rated capacity of 300 MW each.
Lupin: The pharma major announced that it has received the Establishment Inspection Report (EIR) from the US FDA for its Pithampur Unit-1 manufacturing facility that manufactures both APIs and finished products.
The EIR was issued with an inspection classification of Voluntary Action Indicated (VAI) post the inspection of the facility from September 16 to September 27, 2024.
Advait Infratech Limited: The company has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd for 50 MW/500 MWH out of the project for setting up of 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under tariff-based global competitive bidding (Phase-IV) with viability gap funding support.
Mannappuram Finance: The Reserve Bank of India (RBI) on Wednesday lifted the supervisory restrictions on Chennai-based Asirvad Micro Finance Limited, a subsidiary of Manappuram Finance, and New Delhi-based DMI Finance Private Limited, citing compliance with remedial measures and adherence to regulatory guidelines.
(With inputs from Reuters)
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