IDBI Bank, Reliance Industries, Avenue Supermarts, IndiGo, Poonawalla Fincorp, Axis Bank, and RVNL are among the stocks under consideration.
The SGX Nifty suggests a sluggish start for the local benchmark indexes BSE Sensex and NSE Nifty 50. Stocks to watch on Friday include Reliance Industries (RIL), IDBI Bank, and DMart.
The Indian benchmark indices are expected to begin flat, according to the SGX Nifty. Nifty futures on the Singapore Exchange traded little down at 18031, despite favorable global trends. The BSE Sensex lost 304 points to 60,353 in the previous session, while the NSE Nifty 50 went below the critical mark of 18,000. “Markets have retreated more than 1% in recent five days on cautious stance globally.
We anticipate a sideways market due to a lack of new catalysts. Investors will now wait for the third quarter earnings season to offer some guidance. “After crude oil prices plummeted by 10% in the last two days, sectors connected to crude oil will continue to gain momentum,” said Siddhartha Khemka, Head Of Retail Research, Motilal Oswal Financial Services.
Stocks to watch on Friday, January 6th
IDBI Bank: The Securities and Exchange Board of India has approved the categorization of the government’s investment in the bank as ‘public’ following the sale of its stock. As part of the disinvestment, the government and the state-run Life Insurance Corporation of India (LIC) would sell 60.72% of their stock in IDBI Bank, reducing the government’s equity to 15%.
Poonawalla Finance Corporation: The business recorded a 116% year-on-year increase in disbursements to Rs 3,980 crore during the December quarter on Thursday. According to the firm, this was the highest-ever quarterly distribution.
Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd., will concentrate his efforts on the conglomerate’s shift to green energy after placing his children in charge of other companies.
Avenue Supermarkets: The owner and operator of retail chain D-Mart has announced a 24.7% increase in its standalone income from operations to Rs 11,304.58 crore for the third quarter ended December 31, 2022.
Dharmaj Crop Guard: The agrochemical firm has authorised the departure of Vishal Domadia as Chief Financial Officer, and the hiring of Vinay Joshi.
Axis Bank: The private lender partnered with OPEN, a digital banking fintech business, to offer a digital current account for its clients, who include SMEs, freelancers, homepreneurs, influencers, and others.
Sreenath Pocha Reddy, Group Chief Financial Officer and senior executive professional at Aster DM Healthcare, has resigned owing to personal reasons. He will be released from the stated service on January 6, 2023.