Stocks To Watch On January 30: Reliance, ITC, GAIL, NTPC, Bajaj Finance & Others

Stocks To Watch Today: The benchmark Sensex and Nifty are expected to open with little change on January 30, as indicated by the trends in the GIFT Nifty, suggesting a subdued start for the broader index with a marginal gain of 17 points.

On Monday, Indian equity indices rebounded from the losses of the preceding session, initiating the (Budget) week on a strong note. The benchmark indices surged by nearly 2 percent each on January 29, driven by widespread buying across sectors and robust performances by heavyweight stocks.

At the close, the Sensex witnessed a gain of 1,240.90 points or 1.76 percent, reaching 71,941.57, while the Nifty recorded an increase of 385.00 points or 1.80 percent, concluding at 21,737.60.

Here’s a slew of stocks that will be in focus on January 30 for various reasons;

• Reliance Industries: In November 2023, Reliance Jio, a subsidiary, experienced a growth of 34.47 lakh users, surpassing the 31.59 lakh users added in the preceding month. The wireless broadband service provider reached a total of 455.82 million subscribers by the end of November.
• ITC: The company’s performance in the December quarter showcased a noteworthy 10.75% growth in standalone net profit, totaling Rs 5,572 crore. This result was achieved despite subdued operating metrics, as increased other income and lower tax costs played a significant role.

Regarding standalone revenue from operations, there was a moderate uptick of 1.6%, reaching Rs 16,483.3 crore. This growth was predominantly driven by the robust performance of the cigarette and fast-moving consumer goods (FMCG) segments.

• GAIL (India): The natural gas company has entered into a long-term LNG purchase agreement to acquire approximately 0.5 million metric tonnes per annum (MMTPA) of LNG from ADNOC Gas (Abu Dhabi National Oil Company). As per the terms of the agreement, the deliveries are set to initiate in 2026 and will continue for 10 years, covering various locations across India.
• Bajaj Finance: In the December quarter, the company reported a robust 22% growth in consolidated net profit, amounting to Rs 3,639 crore, despite facing elevated loan losses and provisions. Furthermore, there was a notable 29% year-on-year increase in net interest income for the quarter, reaching Rs 7,655 crore.
• Mahindra Logistics: The logistics company recorded a consolidated net loss of Rs 16.4 crore for the quarter ending December FY24, in contrast to the Rs 1.67 crore profit reported in the corresponding period of the previous fiscal year, primarily due to subpar operating figures. Despite this, revenue from operations exhibited a 5 percent year-over-year growth, reaching Rs 1,397.2 crore for the quarter. Additionally, the company has secured approval from the Investment Committee of the Board of Directors to invest up to Rs 50 crore in its subsidiary, MLL Express Services.
• Bharti Airtel: In November of the previous year, the telecom operator saw an increase of 17.47 lakh subscribers, a significant rise from the 3.5 lakh users added in the preceding month. As of November 2023, the company’s total subscriber base reached 255.07 million.
• Vodafone Idea: The telecom operator reported a net loss of Rs 6,986 crore for the quarter ending December FY24, marking a reduction from the Rs 8,738 crore loss in the preceding quarter, indicating improved margin performance. Despite a 0.4 percent sequential decline, revenue for the quarter amounted to Rs 10,673.1 crore compared to the previous quarter.
• NTPC: The leading power generation company in the country has reported a 2.1 percent year-on-year growth in standalone net profit, reaching Rs 4,572 crore for the quarter ending December FY24. A decline influenced this growth in topline and subpar operating performance. Standalone revenue from operations for the quarter witnessed a 4.7 percent decrease, amounting to Rs 39,455.3 crore compared to the corresponding period in the previous year.
• Epack Durable: The equity shares of the original design manufacturer of room air conditioners are scheduled to be listed on the stock exchanges on January 30. The ultimate issue price has been set at Rs. 230 per share.

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