Top 10 Stocks to Watch Today || 19th Jan 2024

Top 10 Stocks to Watch Today

Stay informed with the top stocks to watch today. Explore Q3FY24 results and projections for companies like Reliance Industries, Paytm, Hindustan Unilever, HDFC Bank, IndusInd Bank, Tata Steel, Tata Communications, Coal India, Jindal Stainless Steel, and Polycab India. Get insights into their performance, revenue growth, and key developments in the current market scenario.

• Reliance Industries: Mukesh Ambani-owned Reliance Industries Ltd will announce its December quarter (Q3FY24) results on 19 January, Friday. The oil-to-telecom conglomerate is expected to report a 9.3% year-on-year rise in consolidated net profit to ₹17,257 crore, aided by a steady performance of its digital and retail businesses. Consolidated revenue for Q3FY24 is likely to rise 5% YoY to ₹2.31 trillion. Sequentially, however, performance may be muted.

• Paytm: The fintech firm's parent company One 97 Communications is expected to report strong revenue growth, with net losses narrowing in the third quarter of FY24. The company’s revenue from operations during Q3FY24 is expected to grow 32% year-on-year (YoY) to ₹2,721 crore. Net loss is seen narrowing to ₹280 crore.

• Hindustan Unilever: The FMCG major is expected to see muted earnings growth during the third quarter of FY24 as weak festive demand and price cuts are likely to have weighed on its volume and revenue growth. The company will release its Q3 results on Friday, with net profit seen rising 2.2% on year to ₹2,638 crore, as per average estimates of five brokerage houses. Revenue will likely remain flat at ₹15,400 crore.

• HDFC Bank: India’s largest private sector lender is seeking to open its first branch in Singapore, signaling its overseas ambitions after sewing up a landmark merger with mortgage financier Housing Development Finance Corp., last year. The bank has applied to the Monetary Authority of Singapore for a banking license and is awaiting approval, although it is not clear what kind of banking license it is seeking for its Singapore venture.

• IndusInd Bank: The private lender reported a 17.3% year-on-year rise in standalone net profit to ₹2,297.8 crore for the quarter ended December (Q3FY24) driven by strong loan growth and stable asset quality. At ₹3.27 trillion, the bank registered a loan growth of 20% YoY, while deposits grew 13%.

Tata Steel: The steelmaker is reportedly shutting down its Port Talbot blast furnaces in the UK after rejecting a trade union plan formulated to keep its blast furnaces running. The decision was made as per the company's plans to shift to an electric-arc furnace-only site in a bid to reduce carbon emissions and achieve net-zero targets. The move came after a meeting between Tata executives and the community, GMB, and Unite unions.

• Tata Communications: The Tata Group company reported its fastest quarterly revenue growth in nearly nine years on Thursday, boosted by strength in its mainstay data services business. Revenue rose 24.4% to ₹5,633 crore during Q3FY24, while its earnings before interest, taxes, depreciation, and amortization (Ebitda) margin contracted to 20.1% from 23.8% a year earlier.

• Coal India: As part of its diversification plans, state-run Coal India plans to acquire rare earth and critical mineral mines including lithium, directly from the government, in addition to bidding for Jammu & Kashmir’s lithium reserves in upcoming auctions. The company would be able to apply for mines reserved for government companies or corporations.

• Jindal Stainless Steel: The crisis in the Red Sea has hurt Jindal Stainless Steel's poses a risk to the company's export targets, managing director Abhudhay Jindal said. The company on Thursday reported a 35% YoY jump in consolidated net profit to ₹691 crore for the December quarter, while consolidated revenue was flat at ₹9,127 crore.

• Poly Cab India: The wires and cables manufacturer on Thursday reported a 15.3% YoY increase in consolidated net profit to ₹416 crore for the December quarter of FY24. Revenue from operations rose 17% YoY to ₹4,340.4 crore in Q3FY24.

Conclusion:

As we track the performance of these top stocks, the market dynamics present a mix of opportunities and challenges. From the anticipated rise in Reliance Industries' consolidated net profit to Paytm's revenue growth, each company reflects unique aspects of the current financial landscape. Keep a watchful eye on the evolving trends and strategic moves, guiding your investment decisions in this dynamic market.

------------------- ++-------------+----------------------

🔴💯ध्यान दें: ➡️ये सिर्फ कुछ उदाहरण हैं, और बाजार में कई और बेहतरीन ,Stocks,ईटीएफ उपलब्ध हैं. निवेश करने से पहले खुद का रिसर्च करना और फाइनेंशियल एडवाइजर से सलाह लेना जरूरी है.

🔴Disclaimer :- This is not investment advice and this is not an investment recommendation.