Markets

Stocks To Watch: HDFC Bank, L&T Tech, IREDA, Others In News

The BSE Sensex fell 199.17 points or 0.27 per cent to close at 73,128.77. The NSE Nifty touched its all-time intra-day high of 22,124.15 before closing 65.15 points or 0.29 per cent down at 22,032.30.

Top Stocks To Watch On 17 January
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Benchmark equity indices snapped their five-day gaining streak to settle in red on Tuesday due to profit booking in IT and oil stocks amid weak global market trends. Economic data like China's Q4 GDP, UK & Europe CPI, and US Retail sales data to be released Tuesday & Wednesday kept investor sentiment muted.  

The BSE Sensex fell 199.17 points or 0.27 per cent to close at 73,128.77. The NSE Nifty touched its all-time intra-day high of 22,124.15 before closing 65.15 points or 0.29 per cent down at 22,032.30.

"The broad market exhibited profit booking following a good performance by the IT sector amid weak global cues. Investors are contemplating whether the current euphoria in markets has gone farfetched, especially with elevated domestic valuations in mid & small caps. FII flows are mixed due to a lack of fresh triggers. Oil prices stayed firm amid undeterred geopolitical tensions. The latest IIP growth signals near-term softness," said Vinod Nair, Head of Research, Geojit Financial Services.

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Here are the top stocks to watch for 17 January:

HDFC Bank

The country’s largest private sector bank reported a 2.5 per cent quarter-on-quarter growth in net profit at Rs 16,372.54 crore for the December quarter. Net interest income rose by 4 per cent QoQ to Rs 28,471 crore during quarter.

L&T Technology Services

The company reported net profit of Rs 336.2 crore for the third quarter of FY24, up 6.6 per cent from year-ago period. The revenue from operations grew 1.5 per cent sequentially to Rs 2,421.8 crore. The company approved the re-appointment of Amit Chadha as CEO and MD for three years w.e.f 1 April, 2024.

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Indian Renewable Energy Development Agency

IREDA has signed MoU with Indian Overseas Bank for co-lending and loan syndication for a diverse spectrum of Renewable energy projects across the country.

Rail Vikas Nigam

RVNL has formed a 49:51 joint venture with Jackson Green for solar projects in India and abroad. The company incorporated a new subsidiary company RVNL Infra in South Africa.

Ultratech Cement

The cement major has incorporated a wholly-owned subsidiary, namely Letein Valley Cement, to carry on the business of mining limestone and other raw materials including the manufacturing and sale of cement.

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