Stocks to watch: Adani Wilmar, RIL, CPSEs, Bank of Baroda and more

After yesterday’s sell-off that tracked advances in US markets, it was anticipated that today’s opening bell would ring in with a modestly upbeat tone. As of 7:20 in the morning, the SGX Nifty January futures were quoted at 17,990, which was higher than the spot Nifty 50’s closing price of 17,914 on Tuesday.

While this is going on, the following stocks are expected to have some movement in their transactions on Wednesday:

Earnings Watch: 5 Paisa Capital and National Standard (India), among other companies, are expected to release their results for the third quarter today.

Adani Wilmar: The firm stated in its business update for the third quarter presented to the BSE that the edible oil sector experienced volume growth in the “high-single-digits,” food and FMCG in the “high-20s,” and industry necessities at over 40 percent.

Reliance Industries: According to the average projections provided by Bloomberg, Reliance, the company that is run by Mukesh Ambani, could publish a mixed set of figures for the third quarter of 2022–2023. The firm may experience an increase in revenue, but there is a possibility that profits may go down by up to 10%.

Sona BLW Precision: After completing the purchase of a 54% share in Novelic, which is situated in Serbia, Sona BLW Precision saw a nearly 6% increase in their stock price on Tuesday. In spite of this, brokerages do not have a strong opinion on the stock due to the near-term issues and prices.

CPSEs: The government is considering including small- and mid-cap central public sector companies (CPSEs) on its list of disinvestment candidates for the following fiscal year. In addition, government officials have dropped hints that efforts are being made to finalise the stock sales of Shipping Corp. and BEML before the end of March.

Sigachi Industries: On Tuesday, the company’s board of directors gave their approval for an increase in the authorised share capital from Rs 32 crore to Rs 42 crore. This increase will be accomplished through the issuance of up to 1.10 crore convertible warrants to the company’s promoters at a price of Rs 285.30 per share.

PC Jeweller: The firm recorded an increase of 38 percent in its Q3 business update, with a revenue of Rs 829.10 crore as compared to Rs 600.18 crore in the same time period in the previous year.

Bank of Baroda: The marginal cost of funds-based lending rate (MCLR) across all tenors has been increased by up to 35 basis points (bps) at the state-owned Bank of Baroda, effective as of January 12th.

Axis Bank: Following the receipt of a rap from Irdai, Axis Bank has engaged into amended arrangements with Max Financial Services in order to buy the remaining 7 percent stock in Max Life Insurance at a price that is equivalent to the fair market value.

Uttam Sugar Mills: The firm has raised its cane crushing capacity from 23,750 TCD to 26,200 TCD, and its distillery capacity for ethanol at the Barkartpur plant has grown from 150 KLPD to 250 KLPD.

GNFC and Indiabulls Housing Finance are the only two stocks that fall under the F&O trading prohibition on Wednesday.