he Indian stock market experienced a volatile trading session on Wednesday, with the BSE Sensex slipping 50.62 points (0.06%) to close at 78,148.49 and the NSE Nifty50 falling 18.95 points (0.08%) to settle at 23,688.95. The cautious market sentiment was influenced by muted economic growth projections and concerns over weak Q3 corporate earnings.
Key Stocks in Focus:
TCS, Tata Elxsi, and IREDA
- These companies are set to announce their Q3 FY24 results today, drawing significant investor attention.
Tata Motors
- Jaguar Land Rover, its subsidiary, reported a 3% YoY increase in wholesale sales for Q3 FY24, reaching 104,427 units. Retail sales stood at 106,334 units, reflecting steady growth.
Bharat Heavy Electricals Limited (BHEL)
- Commissioned two units of the 6×170 MW Punatsangchhu-II Hydroelectric Project in Bhutan, a key milestone in green energy expansion.
NTPC Green Energy
- Formed a joint venture (74:26) with Rajasthan Rajya Vidyut Utpadan Nigam to develop renewable energy parks in Rajasthan, including green hydrogen derivatives.
Page Industries
- The company’s board will meet on February 5 to discuss the declaration of its third interim dividend.
Anand Rathi Wealth
- Scheduled a board meeting on January 13 to review its quarterly results and consider a potential bonus issue.
Borosil Renewables
- Resumed plans to expand solar glass manufacturing capacity by 50%, supporting India’s photovoltaic solar panel production.
PI Industries
- Received a customs order imposing a differential duty of ₹38 crore and fines up to ₹43 crore, which could impact stock performance.
Prataap Snacks
- Received an open offer from Authum Investment & Infrastructure and Mahi Madhusudan Kela to acquire a 26% stake for ₹544 crore.
Additional Stocks to Watch:
- Money Boxx: Opened a new branch in Bhagalpur for expansion.
- Zee Media: To discuss raising funds via equity or other instruments on January 13.
- Everest Organics: Plans to allot convertible warrants and equity shares at ₹152 each on January 15.
- Celebrity Fashions: Approved issuance of 29 lakh equity shares on a preferential basis.
- Advait Energy Transitions: Received an LoI from Gujarat Urja Vikas Nigam for a 50 MW battery energy storage system in Gujarat.
- Lupin: Received a VAI classification from the US FDA for its Pithampur unit.
- MOIL: Faced a penalty of ₹16.77 crore for excess production at its Tirodi Mine during previous periods.=
