Equity benchmark indices continued their losing streak for the third consecutive day on Thursday after selling pressure in HDFC Bank and LTIMindtree Ltd, along with profit booking in consumer durables and utility shares. Sector-wise it was a mixed bag with buying seen in Pharma, Oil & Gas, Realty, and PSU Bank.
The BSE Sensex fell by 313.90 points or 0.44 per cent to settle at 71,186.86. The NSE Nifty declined 109.70 points or 0.51 per cent to close at 21,462.25.
“Strong retail sales data in the U.S., along with hawkish comments by US Fed speakers spooked investors globally. We expect the market to consolidate in a range with limited upside amid a global uncertain environment. On Friday, Nifty heavyweights like Reliance, HUL, and Ultratech will announce their results which could drive the index on either side,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
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Here are the top stocks to watch on 19 January:
IndusInd Bank
The private sector lender has reported better-than-expected earnings for the October-December quarter of FY24. The standalone profit grew 17.3 per cent year-on-year to Rs 2,297.9 crore and net interest income (NII) rose 17.8 per cent to Rs 5,295.6 crore. The gross non-performing assets (NPA) slipped 1 basis point to 1.92 per cent and the net NPA remained flat on a sequential basis.
Tata Consultancy Services
The IT company’s shares will trade ex-trade for a dividend with effect from January 19. The company announced an interim dividend of Rs 9 per share and a special dividend of Rs 18 per share for the ongoing financial year on January 11.
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Wipro
The IT major has signed a definitive agreement to subscribe for a 14 per cent equity share of Huoban Energy 11, for Rs 3.17 crore. The deal is likely to help Wipro increase the usage of renewable energy in offices in Maharashtra.
Poonawalla Fincorp
The non-banking finance company has reported a 76.3 per cent YoY growth in net profit at Rs 265.1 crore for the December quarter of FY24. Revenue from Operations in the reported quarter grew by 52.1 per cent to Rs 762.6 crore. Assets under management (AUM) increased 58 per cent YoY to Rs 21,946 crore.
Lupin
The pharmaceutical major has received approval for Febuxostat tablets from the US Food and Drugs Administration (USFDA). The product will be manufactured at Lupin’s Pithampur manufacturing unit.
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