News

Published: January 2, 2024
Updated: January 2, 2024

Stocks under Watch as Indian Markets prepare for a weak start :Market Snapshot - January 2, 2024

Opening Bell: Markets Eye Muted Start Amidst Asian Retreat

At 8:00 AM, Gift Nifty quoted at 21,856 levels, down 33 points, signalling a subdued start on Tuesday. Asian shares retreat, with Hang Seng down by 1%, Kospi by 0.3%, and Shanghai Composite by 0.06%. Japan's Nikkei remains closed following a massive earthquake.

Stocks in Focus: A Comprehensive Overview

Coal India Achieves 68% Production Target

Coal India reports a significant achievement, reaching 68% of its production target for the fiscal year 2024. December's production grew by 8% YoY, reaching 71.9 Million Tonnes.

BHEL Clarification on Rs 19,400 Crore Order

Bharat Heavy Electricals Ltd (BHEL) clarifies its position on the speculated Rs 19,400 crore order from NLC India Ltd. The company emphasizes that submission of a bid does not guarantee automatic order acquisition.

LIC Faces Rs 806 Crore Demand Order

Life Insurance Corporation (LIC) receives a demand order, including a penalty, totaling Rs 806 crore for the fiscal year 2017-18.

Bharti Airtel's Acquisition Move

Bharti Airtel's subsidiary, Bharti Airtel Services Limited, acquires a 97.1% stake in Beetel Teletech Limited through the acquisition of 49,45,239 equity shares.

Vedanta's Interest Payment on NCDs

Vedanta reportedly makes an interest payment of Rs 1,000 crore on non-convertible debentures (NCDs).

Automotive Highlights: Eicher Motors, TVS Motor, Tata Motors

Eicher Motors reports an 11.1% YoY increase in December's total sales of commercial vehicles. TVS Motor Company sees a 25% rise in total dispatches in December 2023. Tata Motors achieves its highest-ever passenger vehicle volume in 2023.

Financial Sector Updates: South Indian Bank, Alembic Pharma, Gensol Engineering

South Indian Bank witnesses a 10.83% YoY growth in gross advances during Q3, reaching Rs 77,713 crore. Alembic Pharma secures eight USFDA product approvals. Gensol Engineering approves raising up to Rs 300 crore via qualified institutional placement (QIP).

Corporate Achievements: APL Apollo Tubes, GR Infraprojects, UltraTech Cement

APL Apollo Tubes records a sales volume of 6,03,659 tonnes in Q3FY24. GR Infraprojects wins a project in Madhya Pradesh with annual transmission charges of Rs 41.9 crore. UltraTech Cement sees a consolidated sales rise of 6% in Q3.

Dhanlaxmi Bank's Q3 Business Update

Dhanlaxmi Bank reports an 11.5% YoY growth in total business to Rs 24,657 crore during Q3.

Nestle India Faces Tax Demand

Nestle India receives a tax demand order amounting to Rs 46.4 crore under the CGST/SGST Act, with applicable interest and penalty totaling Rs 4.65 crore.

A Diverse Day in the Market

As markets prepare for a muted start, the day ahead promises diverse movements and developments across various sectors. Stay tuned for updates as these stocks unfold their stories on January 2, 2024.