Indian Stock Market: Top Stocks to Watch on Thursday
The Indian stock market is expected to be driven by various factors on Thursday, including recent developments in key companies and Q3 earnings reports. Some of the top stocks to watch include Bajaj Finserv, Bharat Heavy Electricals Ltd., Hindustan Unilever Ltd., NHPC Ltd., Voltas Ltd., and Elecon Engineering.
Bharat Heavy Electricals Ltd.
Bharat Heavy Electricals Ltd. has received an order worth Rs 5,400 crore from JV Bharat Coal Gasification & Chemicals, which is expected to boost the company’s revenue and profitability.
Hindustan Unilever Ltd.
Hindustan Unilever Ltd. has received a tax demand of Rs 1,560 crore from the Mumbai tax body, which may impact the company’s financials.
NHPC Ltd.
NHPC Ltd. has approved a plan to raise Rs 2,000 crore via private placement, which is expected to support the company’s growth plans.
Voltas Ltd.
Voltas Ltd. has approved a long-term incentive scheme to drive performance, which is expected to motivate employees and improve productivity.
Bajaj Finserv
Bajaj Finserv has completed the acquisition of a 23% stake in its insurance arms from Allianz for Rs 21,390 crore, marking the largest-ever deal in the Indian insurance sector.
Elecon Engineering
Elecon Engineering has reported a 33% decline in net profit at Rs 72 crore in Q3, compared to Rs 107.5 crore in the same period last year.
Other Key Developments
Other key developments that may impact the market include the completion of Fusion Finance’s Rs 800 crore rights issue, Vedanta’s challenge to the rejection of its application for extension of the Production Sharing Contract for Block CB-OS/2, and Waaree Renewable’s revised Letter of Acceptance for a project capacity reduction.
In addition, Panorama Studios has signed a pact with Mugafi for airborne rights of the film ‘Kuberaa’, and Bharat Electronics has received additional orders worth Rs 596 crore since January 1.
Q3 Earnings and Business Updates
Elecon Engineering has reported a 4.3% increase in revenue at Rs 552 crore in Q3, compared to Rs 529 crore in the same period last year. The company’s Ebitda declined 23.4% at Rs 109 crore, compared to Rs 142.6 crore in the same period last year.
Antony Waste has reported the sale of nearly 4,359 tonnes of compost and nearly 37,840 tonnes of refuse-derived fuel in Q3. The company managed nearly 1.42 MT of municipal solid waste during the quarter.
SML Mahindra has reported a 39% increase in CV production at 1,455 units in December, compared to the same period last year. The company’s sales increased 77% at 1,019 units in December, compared to the same period last year.
Share to Exit Anchor Lock-in and Short-Term ASM Framework
The share to exit anchor lock-in includes Nephrocare Health Services (2%) and Bansal Wire (20%). The list of securities shortlisted in the short-term ASM framework includes GNA Axles and Felix Industries.
Investors should keep a close eye on these developments and adjust their investment strategies accordingly. It is also important to stay informed about the latest market trends and news to make informed investment decisions.
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