Track crucial stock updates amidst economic data and earnings reports. Key stocks: ICICI Prudential, Power Grid, Bajaj Finserv. Stay informed today!
With key economic data releases on the horizon and corporate earnings in focus, investors are actively tracking stock movements across sectors to make informed decisions and navigate market trends.
As indicated by GIFT Nifty, Indian equity indices BSE Sensex and NSE Nifty 50 are likely to open higher on Tuesday, January 7. Here’s a look at the key stocks to watch in today’s trade.
Stocks in Focus: GIFT Nifty was trading 27.50 points or 0.12 per cent higher at 23,768.50 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday.
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Sensex and Nifty close lower on January 6
The Indian headline indices, Sensex and Nifty extended their losses for the second straight session on January 6, ending near the day’s lows. The Sensex plunged by 1,258.12 points, or 1.59%, to close at 77,964.99, while the Nifty 50 slipped 388.70 points, or 1.62%, to settle at 23,616.05.
Quarterly watch: Key earnings announcements on January 7
On January 7, the quarterly earnings of companies such as Mobikwik Systems, GM Breweries, Kore Foods, Darshan Orna, Krishna Ventures, Leel Electricals, UH Zaveri, and VR Woodart are scheduled to be announced.
Stocks to watch on January 7, 2025
ICICI Prudential
The private insurer has been ordered to pay taxes for FY2019-21, as per a GST ruling upheld by the Commissioner of Appeals. ICICI Prudential had earlier contested this demand but lost its appeal.
“Accordingly, the Company has received an order under Section 107 of the Goods and Services Tax Act, 2017 from Commissioner (Appeals) on January 6, 2025 at 11.13 a.m., upholding the total tax demand. Kindly note that the Company shall file an appeal against the demand upheld in the said order before appropriate authority in due course,” the company said through an exchange filing on January 6.
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Power Grid
The state-run power company has won bids for two major transmission projects in Gujarat and Karnataka. These projects, under a build-operate-transfer model, aim to enhance the inter-state power grid.
Through the regulatory filing, the company said, “Power Grid Corporation of India Limited (“POWERGRID”) has been declared as successful bidder under Tariff Based Competitive Bidding for the following two (02) projects to establish InterState Transmission System under Build, Own Operate and Transfer (BOOT) basis.”
Infosys
Infosys, India’s second-largest IT company, has delayed its annual salary hikes to the fourth quarter of FY25. The last hike was given in November 2023.
NESCO
The Mumbai-based firm will develop and maintain facilities along the Bengaluru-Chennai Expressway after winning a key tender. The company in its exchange filing added, “National Highways Logistics Management Limited has declared the Company as Highest Bidder and has accepted our proposal for Developing, Operating and Maintaining of Wayside Amenities in South Zone on Bengaluru Chennai Expressway Corridor (Phase II) Section on Lease Basis.”
Bajaj Finserv
Bajaj Allianz reported stron December premiums, with yearly gross direct premiums exceeding Rs 17,100 crore.
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Coal India
The company partnered with IREL to explore critical minerals like rare earth elements, vital for electronics and renewable energy sectors. “Coal India Limited (CIL) and IREL (India) Limited, a public sector undertaking under the
Department of Atomic Energy, GoI have executed a Non-Binding Memorandum of Understanding (MoU) on 06.01.2025 at IREL Head Quarters in Mumbai to cooperate and collaborate for development (mining/ extraction/ refining etc.) of mutually agreed assets of critical mineral in general including mineral sands/ REE by acquiring assets /sourcing raw material domestically or internationally,” added the company in the BSE filing.
Ashoka Buildcon
The company has signed an agreement for a Rs 1,391 crore road project in West Bengal. “Ashoka Bowaichandi Guskara Road Private Limited (“SPV”), a wholly owned subsidiary of the Company has executed a Concession Agreement with National Highways Authority of India (“NHAI”) on January 06, 2025, for the Project viz. “for Development of 4 lane Economic Corridor from Bowaichandi to Guskara-Katwa Road Section Km 89.814 to Km 133.000 of NH 116A (Package-3) in the state of West Bengal under Hybrid Annuity Mode,” added the company in the regulatory filing.
Vodafone Idea
The debt-laden telecom company has sold its entire 50% stake in Firefly Networks, a joint venture with Bharti Airtel, to iBUS Network and Infrastructure for Rs 4.5 crore. The transaction is expected to be completed within 30 business days, subject to closing conditions.
Bharti Airtel
The telecom giant has also sold its 50% stake in Firefly Networks to iBUS Network for ₹4.5 crore. Firefly, which contributed minimally to Airtel’s revenue and net worth in FY24, will no longer be a joint venture after the deal is finalised.
InterGlobe Aviation (IndiGo)
The airline has been fined Rs 2.17 crore by the Customs Department for importing aircraft parts without paying the required duty. Customs officials rejected the duty exemption claimed by the company. IndiGo plans to challenge this decision with the appellate authority.
