Stock market today: After snapping a five-session losing streak with a positive close, the Indian stock market is expected to open in green on Tuesday, January 13, following gains across Asian markets.
Early trends from Gift Nifty suggested a positive start, with the index trading at 25,920, up about 63 points, or 0.24%, from its previous close.
On Monday, Indian indices – the Sensex and Nifty 50 – ended their five-session losing streak, supported by value buying in an oversold market after signs emerged that India and the US were moving closer to resolving their trade deal differences.
The indices witnessed a strong rebound during the session. The Sensex, which had slipped over 700 points to an intraday low of 82,861 in the first half, recovered sharply to close at 83,878.17, gaining 302 points or 0.36%. This marked a solid rebound of 1,017 points from the day’s low. Meanwhile, the Nifty 50 rose 107 points, or 0.42%, to settle at 25,790.25.
“The Indian market rebounded from the day’s lows as investor sentiment improved following favourable remarks on the trade deal by the U.S. Ambassador ahead of the next round of negotiations. This positive undertone provided a lift to overall market sentiment. The commodities segment outperformed, supported by strength in metals, which benefited from renewed buying interest during supply constraints. Value buying was also evident in consumer and banking stocks, as investors sought opportunities after recent corrections, supported by expectations of stronger Q3 earnings and improving demand. Additionally, precious metals maintained their upward momentum amid persistent geopolitical tensions,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Stocks to watch
Against this backdrop, here’s a list of stocks that may attract investor interest and are likely to experience some movement today.
ICICI Prudential Life, ICICI Lombard, Just Dial, Tata Elxsi, Bank of Maharashtra
Shares of ICICI Prudential Life, ICICI Lombard, Just Dial, Tata Elxsi, and Bank of Maharashtra will remain in focus as the companies will report their December quarter results today.
Tata Consultancy Services
Tata Consultancy Services (TCS) on Monday posted a 14% year-on-year decline in its consolidated net profit for the December quarter, which fell to ₹10,657 crore from ₹12,380 crore in the same period last year.
HCL Technologies
HCL Technologies on Monday posted an 11% decline in consolidated net profit for the December quarter, with earnings slipping to ₹4,076 crore from ₹4,591 crore in the same period last year.
Ola Electric
Ola Electric said it has begun rolling out its first battery energy storage system, Shakti, from its manufacturing facility in Krishnagiri, Tamil Nadu.
Larsen & Toubro
Engineering major Larsen & Toubro (L&T) on Monday announced that it will purchase the remaining 40% stake in L&T Sapura Shipping Private Limited (LTSSPL) from Sapura Nautical Power Pte Ltd for ₹122.4 crore, thereby turning the offshore marine construction firm into a wholly owned subsidiary.
Biocon
Biocon has initiated a ₹4,150 crore qualified institutional placement, setting an indicative issue price of ₹368.35 per share, which is about a 5% discount to the prevailing market price, to support its growth plans.
Anand Rathi Wealth
The company posted a 29% year-on-year increase in net profit to ₹99.7 crore, supported by a 22% rise in revenue to ₹289.6 crore. EBITDA climbed 22.6% to ₹131.8 crore, while margins remained stable at 45.5%.
KP Green Energy
KP Green Energy has entered into an agreement with the Gujarat government to set up renewable energy projects valued at ₹4,000 crore, highlighting its push into large-scale sustainable infrastructure development.
NLC India
NLC India’s board has given approval for the listing of its subsidiary, NLC India Renewables, involving a 25% stake dilution along with an investment of ₹66.7 crore. The company also announced an interim dividend of ₹3.6 per share, with January 16 fixed as the record date.
TVS Supply Chain
TVS Supply Chain Solutions (TVS SCS) on Monday announced that it has won a contract from Daimler India Commercial Vehicles (DICV) to handle in-plant warehouse operations at DICV’s manufacturing unit in Chennai.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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