Indian equity benchmark indices settled at record highs on Monday as the Sensex closed above the 73,000 mark for the first time and the Nifty 50 breached the 22,000-point mark on the back of rally in IT stocks and heavyweights Reliance and HDFC Bank.
The BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a lifetime closing high of 73,327.94. The NSE Nifty climbed 202.90 points or 0.93 per cent to settle at a new closing high of 22,097.45.
“IT sector continued its northbound movement and rallied 6.5% in the last two trading sessions amid better-than-expected Q3 results by heavyweights and underperformance in the past. Q3 earning season had a positive start and is further expected to be propelled by the BFSI segment, where lot many heavyweights are likely to post their results this week. This will support the overall ongoing market momentum and stock-specific action,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
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Here are the top stocks to watch on 16 January:
Jio Financial Services
In the October- December quarter of FY23, Jio Financial Services reported a 10 per cent QoQ decline in its standalone total income to Rs 134.08 crore from Rs 148.9 crore in the previous quarter. The net profit fell 20.6 per cent to Rs 70.48 crore from Rs 88.76 crore in September 2023 quarter.
Patanjali Foods
The company revealed that the food and the FMCG segment now contribute 32 per cent to its total revenues. The edible oil segment witnessed single-digit sequential volume growth, with branded sales accounting for 75 per cent of total edible oil sales volume. The biscuits portfolio grew by over 20 per cent YoY.
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Angel One
The brokerage firm reported a net profit of Rs 260.3 crore for the October-December FY23 quarter, up 14.2 per cent over a year-ago period. The revenue from operations jumped 41.5 per cent year-on-year to Rs 1,059 crore. EBITDA increased 22.7 per cent to Rs 397.9 crore in the reported quarter. The board has announced an interim dividend of Rs 12.7 per share for FY24.
PNC Infratech
The company and its subsidiary PNC Infra Holdings have signed definitive agreements with Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust (InvIT), to divest 12 road assets in Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan. The transaction value of the deal stands at Rs 9,005.7 crore, including the earn-outs.
Rail Vikas Nigam
RVNL emerged as the lowest bidder (L1) for supply, installation, testing, and commissioning of 11 KV line-associated works in several cities in Madhya Pradesh. The contract worth Rs 251 crore has been awarded by MP Madhya Kshetra Vidyut Vitaran Company for a period of 24 months.
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